Advanced Skills

A Step By Step Approach to Risk Assessment

Workshop Description
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. Participants in this workshop learn to identify, analyze, quantify and monitor risks, determine the risk responses and manage a contingency reserve.

This highly interactive workshop covers the 6 steps needed for managing risk:

  1. Define the risk limit
  2. Identify risks
  3. Analyze risks
  4. Determine the risk response
  5. Monitor risk
  6. Close out risk

Course Goal

This course was developed to help participants gain a comprehensive understanding of how to assist project sponsors in determining risk limits or risk thresholds. Its goal is to teach participants how to identify and categorize the different types of risk that apply to a project - ultimately learning how to improve risk assessments from the actual risk results.

What you will learn
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

Course Overview

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

This workshop is led by specially trained and certified GTG trainers. Essential Skills for Managing Projects includes a participant workbook and a copy of the Griffin Tate Group's best selling book, the Project Management Memory Jogger™.

Who should attend

  • Project Managers
  • Project Leaders
  • Project Team Members
  • Project Stakeholders