This online course provides participants with a wide range of tools and techniques to effectively recognize, manage, and mitigate project risks. This course also focuses on methods for successful communication of project risks.
WHO SHOULD ATTEND
This course is best suited for moderate to experienced project managers.
PREREQUISITE
Although not required, Introduction to Project Management (PM101) is recommended as a prerequisite.
WHAT YOU WILL LEARN
| Course Introduction
Quick PM Review
- Project Boundaries
- PMBOK Guide Knowledge Areas
- The PMI-RMP Process
- The PMI-RMP Exam
Risk Definition
- Risk Definition
- Risk Defined
- The Delicate Balance
- The Basic Model
- Objectives of Risk Management
- Types of Risks
- Attitudes Toward Risk
Plan Risk Management
- The Risk Management Plan
- Inputs
- Meetings and Analysis
- Matrix Basics
Identify Risks
- Who Should Be Involved in Risk Identification?
- What Can You Do?
- The Risk Register
Perform Qualitative Risk Analysis
- Qualitative Defined
- The Basics
- Risk Score for Each Specific Risk
- Risk Data Quality Assessment
- The Risk Register Updates
Perform Quantitative Risk Analysis
- Quantitative Defined
- Data Gathering and Representation
- Data Modeling and Simulation
- The S Curve
- Data Modeling - Sensitivity Analysis
- Expected Monetary Value
- Data Modeling - Expected Monetary Value Analysis (EMV)
- Data Modeling – Decision Tree Analysis
- Decision Tree Analysis
- Risk Register Updates
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Plan Risk Responses
- Risk Responses Defined
- Responses
- Response Strategies
- Risk Reduction Techniques
- Risk Register Updates
- Resulting Risks
Monitor & Control Risks
- Why & How
- Tools and Techniques
- Results
- Life of a Risk
Contract Administration
- What is Contract Administration? / What is a Contract?
- Cost Plus Percentage of Cost (CPPC) or Fee (CPPF) / Cost Plus Fixed Fee (CPFF)
- Cost Plus Incentive Fee (CPIF) / Fixed Price Plus Incentive Fee (FPPI)
- Firm Fixed Price (FFP)
- Contract Type Selection
- Sharing of Cost and Risk
- Contract Types
- Determining Factors
- Cost / Schedule Incentive Provisions
- Contracting Sequence of Activities
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