PMP 0406 - Managing Project Risk
Enterprise projects have grown in size and complexity over the years. These high-risk, complex projects (HRCP) usually create their own dynamics in terms of dependencies, interactions, politics, budget, and schedules. For a project to succeed, we need to use a well-defined process to manage risk.
This course is based on the lessons learned from 100 high-risk projects documented in the Project Experience Risk Information Library (PERIL) Database (Kendrick) and The Project Management Case Book (Cleland, et al). Examples used include lessons learned from large and well-known projects.
This course focuses on practical implementation of standards-based risk management processes. The instructional approach includes lectures, a running case study, and hands-on class exercises in which the students apply the tools, techniques, and guidelines they are taught in class. Extensive use of documented lessons learned from other projects and in-class exercises are provided for active student involvement and practical use of course content.
A sample risk management plan and a set of information system project risk factors are provided. These tools can be used by the participant to develop an individualized risk management approach for their business. Topics discussed during the two-day course include:
- Definition of Complex, High-Risk Projects
- Identification of Risk Drivers
- The Five Common Elements of High-Risk, Complex Projects
- Screening High-Risk Projects • Obtaining Stakeholder Involvement and Support
- Approaches to Risk Reduction on traditional and agile life-cycle projects
- Identifying, Qualifying, Quantifying, and Planning for Risk
- Unique Financial Management Aspects of Complex Projects
- Creating and Applying Performance Metrics
- Effective Use of Change Control In an HRCP Environment
- Leading High-Risk Projects
- Dealing with Politics
- Managing Media Coverage of High-Risk Projects
- Troubled Projects and Recovery Plans
- Documenting Project Status at Completion
Students should be familiar with the current version of “A Guide to the Project Management Body of Knowledge (PMBOK® Guide),” Project Management Institute, Inc., (obtainable at www.pmi.org). Reference texts include Kendrick, T., “Identifying and Managing Project Risk;” “Mulcahy, R., Risk Management, Tricks of The Trade for Project Managers,” and Cleland, et al., “Project Management Casebook.”
100% attendance and participation are expected from participants
+ Designed For
Only people who have successfully demonstrated their mastery of project management's basic concepts should take this course. The course is designed to address the needs of managers and mid-career professionals who seek to further develop their project management skills.
Before taking this course, participants are encouraged to complete: PMP 0400 Essentials of Project Management