Risk Management & Project Control

Risk Management & Project Control

Designed around PMI’s Standard for Risk Management, this program combines theory with practical application. Participants shall gain advanced skills to identify and mitigate project risks effectively through proper planning.

Course Objectives

  • Define and explain what is risk and risk management.
  • Identify the different principles of risk management.
  • Assess the different tools in evaluating risk.
  • Develop risk response strategies and mitigation plans.
  • Enhance decision-making using quantitative risk analysis techniques.
  • Create a risk management plan.

Topics Covered

  • Introduction to PMI-RMP & Risk Principles
  • Discuss the importance of risk management
  • Risk Strategy and Planning
  • Enumerate the different types of risk
  • Identify the different sources of risk
  • Risk Strategy and Planning
  • Identify and evaluate risks that may impact project objectives.
  • Illustrate the steps in risk management.

Course Details

  • Duration: 33 Hours
  • Level: Intermediate
  • Language: English/Arabic
  • Instructor: TBA
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Course Breakdown

•Definition of risk, uncertainty, project life cycle linkage, and objectives of risk management.

•ISO 31000 and PMI processes, context definition, and stakeholder analysis.

•Tools & techniques: brainstorming, checklists, SWOT, cause-effect diagrams.

•Probability-impact matrix, Monte Carlo basics, and data collection methods.

•Qualitative vs quantitative ranking, risk register development.

•Avoid, transfer, mitigate, and accept strategies, contingency plans.

•Tracking risk throughout project execution, updating the risk register.

•Cost types, cost categories, break-even analysis, and budgeting principles.

•Cash flow management earned value analysis (EVA), and variance tracking.

•Time value of money, depreciation, schedule risk analysis, and control tools.

•Practical case study, simulation exercises, and presentation of risk control plans.

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