A Step By Step Approach to Risk Assessment

Workshop Description – 1 or 2 days in length

This workshop is for project managers and project team members who want to prevent rework, chaos and unsatisfied customers by managing the uncertainty that exists in all projects. This course was developed to help participants gain a comprehensive understanding of how to assist project sponsors in determining risk limits/ risk thresholds. Participants in this workshop learn to identify, analyze, quantify and monitor risks, determine the risk responses and manage a contingency reserve.

Course Objectives

At the conclusion of this workshop, participants will be able to:

  • Assist sponsor in determining risk limits or risk thresholds
  • Identify and categorize the different types of risk that apply to a project
  • Identify, Analyze, Evaluate, Monitor and Manage risks through the 4 project phases (Initiation, Planning, Execution and Close Out) and respond accordingly
  • Select and use appropriate risk analysis tools and techniques for prioritization sensitivity analysis and probabilistic determination of risks.
  • Develop a risk management plan to communicate and track risks throughout the life of the project.
  • Determine the appropriate response to manage risks
  • Manage a contingency reserve (schedule, effort hours and money)
  • Document all risk information during and upon conclusion of the project
  • Learn how to improve your risk assessments from the actual risk results

Table of Contents 

IntroIntroduction
Module 1Introduction to Risk
Module 2Step 1 Define the Risk Limit
Module 3Step 2 Identify Risk and Opportunities
Module 4 Step 3 Analyze Risk
Module 5Step 4 Determine Risk Response
Module 6 Step 5 Monitor Risk and Manage Change
Module 7Step 5 (cont.) Schedule and Budget Risk
Module 8Step 6 Close Out Risk
Module 9Risk Forms

Who should attend:

  • Project Managers
  • Subproject Leaders
  • Project Team Members
  • Project Stakeholders
  • Project Sponsors

Workshop materials includes a participant workbook and a copy of "The Risk Management Memory Jogger™.