Controlling Project Risk

No-one wants to squander vast sums of money on under-functional or over budget projects. And, increasingly, those who have budgetary related roles are asking for assurance that project risks are being assessed, governed and minimised.

This course provides an intellectually simulating introduction to the subject of controlling project risk.

Suitability and duration

Suitability: Beginner - Intermediate

Duration: 1 day

Who should attend

Anyone that is responsible for establishing whether project risk is being properly controlled.

This course uses real life examples that help delegates to learn real-world lessons about Projects and Project Risk. At the end of the course all delegates will have become highly project-risk-aware and be able to add value to any project review process.

Benefits

Skills

After completion of this course, you will be able to:

• Evaluate the interplay between risk, cost and time in projects
• Plan for project and programme risk assessment
• Identify when to assess Project and Programme risk
• Understand the necessity of intermediate project goals
• Understand deterministic and probabilistic project forecasting
• Report on project risks and learn lessons from encountered risks on projects 

Support Materials

This course is accompanied by an extensive and indexed manual for use on return to work.

Programme

The challenge of managing successful projects and programmes

• How projects and programmes put organisations at risk

Risky first steps

• How projects are initiated – where and how does risk assessment figure?
• How to assess initial project risk – the risk tables
• The value of performing an independent risk assessment at project start-up

The plan – is it achievable?

• Project plans: the good and the bad
• Key performance targets, critical success factors and indicators
• Deterministic project forecasting
• Using probabilistic forecasting for time and expenditure
• Setting assurance levels for time and money

Hidden dependencies

• Encountering and dealing with snags, proactive risk management, understanding risk proximity, opportunity and impact
• Intermediate plan and risk reassessment

End of project

• Checking on benefits and outcomes
• Measuring success and failure
• Lessons extraction