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EP3RM3 Project Risk Management 

In project management is inevitable that something can go wrong. The difference in successful project management is adequately assessing the risks and then executing a successful risk response.

Organizations must have solid project risk management best practices in place in order to deliver projects within specified time frames, budgets, and quality requirements. Proactive risk management allows a project manager to optimize project results by implementing proven tools to plan for both threats and opportunities.

The course will present different approaches to identify risks, qualitative and quantitative methods to analyze risks and determine their impacts, risk ranking and response techniques, approaches to monitor & control and communicate risks throughout the project life cycle.

Increase the probability of project success by applying techniques to reduce threats and enhance unexpected opportunities. Learn how to prepare a comprehensive risk management plan.


About the course


Who should attend: 

  • Project Managers 

  • Engineers and Planners

  • Chief Executive Officers

  • Finance Managers

  • Contracts and Claims Manager

  • Project Risk Managers

  • Document Controller

  • PMO Support Engineer

  • Cost Engineers

Lenght: 3 days

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Where: client office or other location

Schedule: 0800 - 1600

Benefits

Course Outcome

At the end of this course, the participants should be able to:

  • Understand the steps required to create a Risk Management Plan according to ISO 31000 and best industry’s practices

  • Apply scalable templates for Risk Management Plans, Risk Registers and Risk Assessment Matrixes for managing project risks

  • Perform a proven Qualitative Risk-Analysis process to guide your risk management decisions

  • Perform the Quantitative Risk Analysis for calculating the possible impacts

  • Determine risk mitigation measures, time and cost level of confidence and reserves

relevant industry

experience 

guaranteed

quality

Day 1

INTRODUCTION TO PROJECT RISK MANAGEMENT

  • Worldwide project failure statistics

  • Project Risk Management benefits

  • International Risk Management Standards

  • Project Life cycle

  • Project Risk Management Processes overview

WHAT IS A RISK MANAGEMENT PLAN (RMP)?

  • Analyzing contents of a RMP model

  • Applying a standard template to create your RMP

WORKSHOP

     SELECTING THE PROJECT

  • Project brief overview

  • Work Breakdown Structure

  • Activity Network

  • Critical Path Analysis

     IDENTIFYING RISKS

  • TECOP (Technical, Economical, Commercial, Operational and Political) Identification

  • Brain Storming

  • Assessing high-level risks to the project

     DEVELOPING THE RISK REGISTER

  • Analyzing contents of a Risk Register Model

  • Applying a proven template to create the Risk Register

  • Detail description of the project risks

Day 2

WORKSHOP

     ANALYZING RISKS THROUGH QUALITATIVE MEASURES

  • Defining the probability and impact scale

  • Performing probability and impact analyses

  • Applying the probability and impact matrix

     IMPLEMENTING RISK RESPONSE STRATEGIES

  • Accept

  • Avoid

  • Transfer

  • Mitigate

  • Exploit

  • Share

  • Enhance

     PRIORITIZING ANALYSIS RESULTS

  • Ranking project risks

  • Differentiating between acceptable and unacceptable risks

     QUANTIFYING EFFECTS OF RISK EVENTS ON PROJECTS

  • Impacted schedule activities

  • Duration uncertainties

Day 3

TOOLS FOR PROJECT RISK ANALYSIS

  • Software used for Risk Analysis

  • Three-point estimation

  • Probability distributions

  • Simulation-Multiple iterations

  • Determining project’s cost and schedule level of confidence

  • Calculating contingency reserves

COURSE SUMMARY

COURSE EXAM


Course Outline

Language: english or romanian

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Couse Materials:

  • Course manual

  • Risk templates templates

  • Ecostar Plan notebook and pen

Certificate: Certificate of completion

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Course Format:

  • Presentation

  • Class exercises

  • Real case-study selected with attendees

In what industries:

  • Infrastructure

  • Engineering and Construction

  • Oil, Gas and Petrochemical

  • Nuclear

  • Power and Water Utility Plants

  • Manufacturing and Industrial

  • Government

  • Aerospace

  • Defense

  • Financial Services

  • Telecommunication

  • Pharmaceuticals

  • Environmental Management

  • Shipbuilding

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Why Ecostar Plan?

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proven

results

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lessons

learned

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understand real world needs, react fast to trends

post course support

team members certified by Project Management Institute (PMI)

Post Course Support

We understand the importance of embedding the knowledge back in the workplace and this is the ultimate yardstick as to whether the training will be a success or not, that’s why we have created the post-course support.

During the training we are tracking individually the trainee’s progress and at the end we support teams to continue learning and develop skills, when you return the work, you are entitled to schedule a free coaching session with your instructor for help and guidance as you apply your new skills.

What is our post-course support for?

  • ​Access to a local network for participants - continued development of PM skills, providing useful tools & information

  • Access to our monthly meeting - giving students the possibility to stay in touch with the other students trained by Ecostar Plan 

  • Further courses recommendations

  • Proven templates, guidelines

Trainer: Senior Project Planning & Risk Management Consultant, MSc Engineering & Business Management, PMP® Certified,  experienced in Nuclear, Oil&Gas, Infastructure, etc.

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