Course Description
Risk Management Essentials
| Duration: 1 Day Time: 8:30am -5:00pm Contact Hours: 8 |
COURSE DESCRIPTION
Project Management is Risk Management. From maintaining the customer relationship to protecting the Critical Path, managing a project is managing project risks.
Moving well beyond the typical high, medium, and low approach to risk management, this one day course covers both risk management fundamentals, as well as, a next-generation approach for controlling your project risks.
Designed to be a roll-up-your-sleeves working session, we encourage you to bring your next project to class. If you do, you can walk through the risk management process with an EdWel risk specialist at your side.
With our innovative Project at Risk (PaR©) Analytics and next generation risk forecasting tool, our risk specialists will also show you how to measure risk in a project, as well as, a portfolio of projects.
Adding a vital tool to any professional project manager’s toolkit, this one-day working session delivers a keen understanding of risk, while strengthening your approach to risk management.
“Eye-opening!” Gary Yu, Operations Manager
“Mike, we had many successes! Due to unseasonable temperatures, the road didn’t open up when it should have and closed a couple of weeks earlier than it should have. All in all though, we got 2100 loads delivered in 35 days, with 600 loads to airlift this spring. The mines were quite happy that we managed an 80% completion when we only had a 50% open window with the road. Our new ability to forecast risk served as a crucial barometer.” Lawrence Cantera, Yukon Ice Road Logistics Director
WHO SHOULD ATTEND?
• You need to instill a global risk management mind-set within your company.
• You want to employ a disciplined risk management approach for a high-profile project.
• Your current risk management approach fails to reflect accurate exposure levels.
• You need to communicate risk exposure more forcefully to senior management.
| Fundamentals of Risk Management |
Day 1 |
Learn:
• Why the Range Forward approach limits your exposure to project risks
• How risk management delivers Six-Sigma Decision-Making
• Three simple steps to establishing a Range Forward
• How to break down the risk-type quadrant to target your contingency plans
• How the simple Trigger Chain technique can get your whole team focused on risk
• Using PaR Analytics
• Why risk monitoring affects the project plan
• How to factor in the dynamic nature of risk into contingency planning
| Applying Risk Management |
Day 1 |
Learn:
• How to design a Trigger Chain risk plan for up-to-the-minute risk assessment
• How to set Range Forward boundaries to limit excessive risk exposure
• How to design a Risk Watch List for quick decision-making
• The connection between risk monitoring and improved project results
• Why adapting to the changing nature of risk results in lower project costs
• How to design an effective Risk Bin and Trigger Bin for maximum effect
• How to present your risk assessment to senior management in their language
• When to scrap your risk management plan and start over
• How to spread a disciplined risk management approach throughout your company
Exercise: Using our leading edge risk forecasting tool, participants follow step-by-step instructions to build a Range Forward risk model for their in-class project.
| Wrap-Up – Questions & Answer | Day 1 |
You will receive a follow-up discussion with an EdWel risk specialist at your convenience to discuss your project, implementing Range Forward, or any other risk management concern.
