Project Risk Management

About the program

Risk taking is an essential skill for a project manager to achieve project objectives. Every project has certain degree of uncertainty. A project manager having good risk management skill is always prepared to deal with uncertain events to avoid loss and get positive result. Risk management is the art and science of planning, assessing, handling, and monitoring future events to ensure favorable outcomes.

A good risk management process is proactive in nature, and is fundamentally different than crisis management which is reactive. Absence of risk management leads to crisis management which is a resource intensive exercise with limited options.

Highlights

By attending this workshop, participants will learn to identify and assess project risk, take timely measure to avoid/reduce negative impact and control the risks throughout the project life cycle.

The objective of this course is to enhance risk management capability of managers.

The course will give participants the confidence to handle the uncertainties more effectively.

Participants will be equipped with knowledge & understanding of risk management concepts

Get to know the process of identifying and analysing risks in the projects.

Get to know tools & techniques to handle risks in a complex projects.

Gain practical skills to save the project from negative effects and enhance to explore opportunities.

Learn to develop proactive plans to handle the risk well in time to avoid losses.

Finely crafted Participants handouts.

Post training support to resolve issues and queries (Over internet/phone)

Guidance to develop career in project management.

Testimonials

Chandrashekhar Naikare

Project Engineer, Frames Process & Energy Systems

"Good session. Topics covered in the session were detailed and elaborated. I think those who are involved in day to day contract& risk management activities can attend this session to enhance knowledge and understanding."

Mukesh Sharma

DGM – Program Management, Tata Advanced Systems Ltd.

"The exercises were good. Excellent and enriching training."

Kunal Adkar

Project Manager

"It was a wonderful session and good learning experience. Replying back to phone discussions… One of my take away."

Parag Saraf

Project Manager, Frames Process & Energy Systems

"Good Knowledge sharing about Contract & Risk Management especially Risk Management, PBG/ABG and LD. Case Study Discussion about Jasmine Engineering and ABC Pipes, I liked the most. Please do attend such Interactive sessions once in six months."

Virtual Classroom

Need not to travel to training location. Saving time and avoid traffic manoeuvre.

Virtual classroom is not e-learning where you are alone.

It is an interactive program led by a trainer similar to physical classroom.

Recordings of all the sessions to revisit whenever required.

Support a greener world – No use of paper – 100% paper free.

Physical Classroom

More effective communication due to presence of body language.

More disciplined as being watched by the trainer all the time.

More personalized as many clarifications are done over casual discussions.

Casual discussion over tea and lunch help make bonding.

As people are used to this mode of learning, they find it more comfortable.

Training Outline

The Project Risk Management Training will cover important aspects of project management.

Project Risk Management Framework

Risk Management Process
Understanding contents of Risk Management Plan (RMP)
Create your Risk Management Plan

Making decisions under uncertainty

Psychological factors in decision making
Recognizing bias with Utility Theory
Practical applications of Prospect Theory

Identify project risks

Understand methodologies to identify risks in a project
Common sources of project risks
Involve stakeholders in risks identification
Create a Risk Register

Qualitative Analysis

Tools for analyzing identified risks
Prioritize and rank risks
Identify risks for detailed analysis

Quantitative Analysis

Tools to quantify impact of the risks on the project
Assess actual monetary impact on the project
Calculating required contingency reserves
Rank risks by monetary impact

Risk Response Planning

Identify and evaluate probable risks responses
Prepare a response plan to address each risk

Monitoring and Controlling Risk

Re-assess risks in risk register
Identify new project risks
Identify risk trends
Read risk triggers
Document lessons learned

Trainer's Profile

The Founder and Chief Consultant at pmwares is a Certified Project Management Professional (PMP) and Microsoft Certified Professional with more than 25 years of experience. Currently, he is driving Project Manager’s Club of Pune – A not for profit initiative in association with College of Engineering, Pune (COEP)

Passionate about project management, he trains, coaches and mentors project managers, senior managers and leadership team to excel in project management and employ best practices. He provides advisory services to corporate for building strong project management capability, develop robust project management processes, setup effective project management systems and support managers on the job for implementation.

Vivek Prakash

Founder and Chief Consultant

Who can attend?

This course is designed for managers want to learn to manage uncertainties in a proactive and more organized manner and to reduce chances of losses and improve chances of profits.

Program Managers

Project Managers

Executives

Project Lead

Delivery Managers

Project Directors