Project Risk Management
Project risk management is the process of identifying, analyzing and responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goals. Managing risk is part of the planning process to figure out risk that might happen in the project and how to control that risk if it in fact occurs.
Risk represents uncertainty, anything that could potentially impact the project’s timeline, performance, budgets and completion. Potential Risks in project management context, if become realities, is classified as “issues” that must be addressed. Risk management, is actually the process of identifying, categorizing, prioritizing and planning for risks before they become issues. Strategic Risk management on large-scale projects, require extensive risk management strategies in detailing planning for each risk to ensure sustainable mitigation strategies
This training workshop presents the structured Risk Management process followed in many organisation that helps avoid crisis situations and incorporate learning from past mistakes. It highlights that effective and early risk identification and management secures the achievement of project objectives, leading to reduced rework costs.
This training course in intended for middle to senior management in public sector institutions, project support staff and project teams
Upon completing this workshop, the delegates should be able to:
- Develop confidence in identifying the major elements contributing to managing project risks
- Describe and implement the practical processes for identifying apparent and inherent project risks
- Gain an understanding and describe the processes for evaluating, and analyzing the impact of project risk to the outcome of the project
- Describe the processes for mitigating risk, develop a Risk Response Plan according to the strategic objectives.
- Determining the likelihood and consequence risk and the risk category, develop understanding of the nature of the risk