This StormWind Bytes course explores how risk management is essential to project success, focusing on practical applications across knowledge areas. You’ll learn how effective risk management enhances risk identification, assessment, mitigation, and response planning, while improving project predictability and stability. The course covers essential concepts, including risk forecasting, early risk detection techniques, and decision-making frameworks to enhance project resilience.
Overview
COURSE DIFFICULTY
COURSE DURATION
1h
Skills Learned
After completing this online training course, students will be able to:
Create comprehensive risk registers tailored to waterfall projects
Apply both qualitative and quantitative risk analysis techniques
Develop effective risk response strategies for threats and opportunities
Build and utilize risk breakdown structures (RBS)
Implement probability-impact matrices for risk prioritization
Distinguish between and properly allocate contingency and management reserves
Recognize risk triggers and warning signs during project execution
Apply Monte Carlo analysis for complex risk scenarios
Document and communicate risks effectively to stakeholders
Conduct thorough risk reviews and audits
Incorporate risk management lessons learned into future projects
This course is ideal for project managers, risk officers, PMO leaders, and professionals seeking to proactively manage project risks, reduce uncertainties, and improve overall project stability, while developing the skills needed for the future of project management.
None
01. Risk Management in Predictive Projects
- What is Risk Management in Predictive Projects
- Identifying Project Risks Early
- Qualitative vs. Quantitative Risk Analysis
- The Risk Register: What to Include
- Risk Breakdown Structure (RBS)
- Common Risk Categories in Waterfall Projects
- Probability and Impact Matrix
- Risk Response Strategies for Threats (Avoid, Mitigate, Transfer, Accept)
- Risk Response Strategies for Opportunities (Exploit, Enhance, Share, Accept)
- The Role of the Risk Owner
- Risk Triggers and Warning Signs
- Contingency vs. Management Reserves
- Monte Carlo Analysis: What It Is and When to Use It
- The Role of Assumptions in Risk Planning
- Conducting a Risk Review and Risk Audits
- Risk Documentation Best Practices
- Communicating Risks to Stakeholders
- Tracking Residual and Secondary Risks
- Risk Mitigation in Complex Projects
- Lessons Learned: Closing the Risk Process
SKILLS LEARNED
Skills Learned
After completing this online training course, students will be able to:
Create comprehensive risk registers tailored to waterfall projects
Apply both qualitative and quantitative risk analysis techniques
Develop effective risk response strategies for threats and opportunities
Build and utilize risk breakdown structures (RBS)
Implement probability-impact matrices for risk prioritization
Distinguish between and properly allocate contingency and management reserves
Recognize risk triggers and warning signs during project execution
Apply Monte Carlo analysis for complex risk scenarios
Document and communicate risks effectively to stakeholders
Conduct thorough risk reviews and audits
Incorporate risk management lessons learned into future projects
WHO SHOULD ATTEND
This course is ideal for project managers, risk officers, PMO leaders, and professionals seeking to proactively manage project risks, reduce uncertainties, and improve overall project stability, while developing the skills needed for the future of project management.
PREREQUISITES
None
COURSE OUTLINE
01. Risk Management in Predictive Projects
- What is Risk Management in Predictive Projects
- Identifying Project Risks Early
- Qualitative vs. Quantitative Risk Analysis
- The Risk Register: What to Include
- Risk Breakdown Structure (RBS)
- Common Risk Categories in Waterfall Projects
- Probability and Impact Matrix
- Risk Response Strategies for Threats (Avoid, Mitigate, Transfer, Accept)
- Risk Response Strategies for Opportunities (Exploit, Enhance, Share, Accept)
- The Role of the Risk Owner
- Risk Triggers and Warning Signs
- Contingency vs. Management Reserves
- Monte Carlo Analysis: What It Is and When to Use It
- The Role of Assumptions in Risk Planning
- Conducting a Risk Review and Risk Audits
- Risk Documentation Best Practices
- Communicating Risks to Stakeholders
- Tracking Residual and Secondary Risks
- Risk Mitigation in Complex Projects
- Lessons Learned: Closing the Risk Process
