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| Introduction: |
Managers seek to create an ordered path through the chaos of a fast-paced, constantly changing environment to achieve business success. They are expected to understand business objectives, develop and implement plans, measure progress against time, cost and business requirements, while balancing priorities among different and potentially conflicting stakeholder groups. Identifying, analysing, and appropriately responding to risk in a proactive fashion, rather than waiting for the overwhelming avalanche of issues, is an essential skill of the professionally competent manager. This course provides a practical approach to managing risk and detailing and implementing an effective risk management plan.
The course complies with:
- “A Guide to the Project Management Body of Knowledge”, 3rd Edition (PMBOK™) published by the Project Management Institute (PMI®) project management standard, and
- Risk Management [AS/NZS 4360:2004]. Australia & New Zealand: Standards Australia/Standards New Zealand (Third edition 2004).
- Practice Standard for Project Risk Management. Pennsylvania, USA: Project Management Institute. (2009).
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| Expected
Outcomes: |
By taking this course you will be able to:
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understand the major
concepts of risk management.
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use appropriate tools
to identify, analyse (both qualitatively and quantitatively)
risks, and establish response plans. A wide variety of tools
are introduced, covering all phases of the risk management process.
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analyse stakeholders
and how their needs, expectations and relationship to the project
organisation affect the risks faced on the project
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develop strategies
for responding to risk events
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establish procedures
for effectively monitoring and controlling project risk
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determine and use
reserves, and include them in the budget
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understand the use
of contracts for managing certain types of risk
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| Target
Audience: |
Anyone who is involved in deciding business strategies and activities,
managing projects, or is otherwise responsible for delivering
results within an organisation, (e.g. CEO, CFO, project sponsor
or project manager). There are no prerequisites for this course.
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| Syllabus: |
Risk Management Planning
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Key concepts
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Components of a risk management
plan
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Relationship of risk management
to the project life cycle
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Organisational impact of good/bad
risk assessment
Risk Identification
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Opportunities and threats
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Categories, sources and types
of risk
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Information gathering techniques
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Identification tools
and process
Analysis
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Quantitative and qualitative
tools and techniques
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Financial tools
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Filtering and Prioritising
risks
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Response Development
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Response strategies
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Use of contracts to manage
risk
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Use of reserves
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Developing a response strategy
Risk Monitoring and Control
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Tools and process for
monitoring and control
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Managing issues - materialised
events
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Maintenance of the risk management
plan
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Reassessing risk
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RM as a team activity
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| Prerequisites: |
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| Duration: |
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| “PMI®”
is a trade and service mark registered in the United States and other
nations; “PMP” is a registered certification mark in the
United States and other nations; and “PMBOK” is a trademark
of Project Management Institute, Inc. |
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