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International Projects Risk Management Techniques

Location: Singapore

Dates:  06 November – 10 November, 2017

Course fee:  $ 3500

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Programme Overview
The ability to quantify and manage risks before and during a project is a key skill required of all project managers. Project risk management is a set of management techniques aimed at ensuring that actual and planned project outcomes coincide, or better. As such, project risk management is practiced by the great majority of project planners, project managers and their staff. Risk management is embedded in nearly every facet of planning and implementing a project.

In this training course, you learn how to identify, measure, and analyse risks in projects of all sizes and scopes, and how to ensure the success of your projects from beginning to end by quantifying and creating risk response strategies.

Who should attend
The course is appropriate for mid-level system engineers and project managers, as well as senior project managers, senior technical specialists, and lower-level engineers. Although some examples provided are from the aerospace industry, the principals covered apply equally to the project risk management challenges for both aerospace and non-aerospace organisations.

Related Courses:

Training objectives
By the end of this training course, participants will:
  • Appreciate the need for the management and review of risk
  • Use a framework & process for the management of risk
  • Understand a variety of techniques to identify, assess, manage & monitor risks
  • Have experience in using some of these techniques
  • Understand the importance of planning and implementing identified risk management actions
  • Understand the overall management of risk process
Course Outline
Overview of Risk Management
  • Recognizing risks in initiatives
  • Using risk management best practices, tools and techniques to achieve project success

Designing Critical Platforms for Success
Creating a Risk Management Plan (RMP)
  • Analysing contents of a model RMP
  • Applying a standard template to create your RMP

Identifying initiative risk
  • Common sources of initiative risk
  • Utilizing checklists
  • Creating Ishikawa diagrams to analyse cause and effect
  • Assessing high-level risks to the organization

Developing a Risk Register
  • Analysing contents of a model Risk Register
  • Applying a proven template to create your Risk Register
  • Communicating risks to stakeholders
  • Documenting risks for future assessment

Improving Initiative Performance through Qualitative Analysis
Analysing risks through qualitative measures
  • Performing probability and impact analyses
  • Applying the probability and impact matrix
  • Advanced applications of qualitative analysis

Prioritizing analysis results
  • Ranking project and operations risks
  • Differentiating between acceptable and unacceptable risks

Analysing Risks Using Quantitative Methods
Quantifying effects of risk events on projects and operations
  • Determining probability of cost and time objectives
  • Calculating contingency reserves
  • Identifying trends in quantitative analysis
  • Ranking risks by actuarial cost

Tools for analysis
  • Expected Monetary Value (EMV)
  • Three-point estimates
  • Probability distributions
  • Delphi Technique
  • Simulation

Risk Response Planning
Implementing risk response strategies
  • Accept
  • Avoid
  • Transfer
  • Mitigate
  • Exploit
  • Share
  • Enhance
  • Quantifying residual risks and secondary responses

Creating contingency plans
  • Determining the worst-case scenario
  • Recalculating confidence levels
  • Finalizing risk budget
  • Applying a seven-step process to risk response planning

Making Decisions under Uncertainty
Psychological factors in decision-making
  • Practical applications of Prospect Theory
  • Recognizing bias with Utility Theory

Tools to enhance objectivity
  • Maximizing returns through the use of payoff tables
  • Dealing with unknown risks using workarounds

Monitoring and Controlling Risk
Identifying emerging risks
  • Matching identified initiative risk with controls including Risk Audit, Variance Reports and Reserve Analysis
  • Anticipating risk events through risk triggers
  • Measuring risk using earned value analysis (EVA)

Ensuring effective change control
  • Developing a reliable change request process
  • Recommending corrective action

Leveraging Project and Operations Experience
  • Compiling lessons learned in a risk database
  • Ensuring continual process improvement
To enhance learning effectiveness, hand on experience will be emphasised in this programme through role-plays in class presentation, group facilitation and class critique.
Case studies, group discussions and video support will also be used to enhance learning experience. Fun quizzes will be injected to provide formative assessment and a fun learning environment.
Classes, books and training materials.
Entry level test.
Free Internet access.
International certificate upon completion of the course.
Coffee breaks and a buffet lunch daily.

*Fees do not include charges for travel and accommodation costs
Tuition fees include
    Learn, improve and share new skills with best instructors
    Make your professional network wider, meeting new people of your area
    Choose best venue with big variety of locations of courses
    Receive one year post-training support
    Enjoy your time with our cultural programs
    Maximize your flexibility with online courses
Training Location
International Projects Risk Management Techniques

06 November – 10 November, 2017

Course fee
$ 3500
Registration Form