Risk Management

Risk is inevitable in every project, and one must have the expertise to manage it – the ability to seize opportunities, minimize threats, and optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all.  Comprehensive and effective risk management processes are vital for effective project management. To remain competitive in the local and global business environment, industry professionals need to acquire and apply specialised risk management knowledge to achieve insightful and robust risk assessments.
 

This course will develop the skills and knowledge required to enable you to address complex and challenging risks and uncertainties that arise in project management. You will develop and refine specialised knowledge and skills in this emerging field, consolidating and expanding your knowledge of quantitative project risk analysis. You will acquire the skills and knowledge required to utilise project evaluation techniques to ensure effective risk management.

Further, you will apply contemporary risk management theory and practice, and utilise research strategies and tools, to analyse and appraise the economic status of projects whilst accounting for risk and perform risk-based scheduling for projects. This will enable you to examine both the threats and opportunities facing your projects from both a top-down and bottom-up perspective using a proven six-step risk management process. You’ll learn how to evaluate and respond to risk at the project as well as the task levels.

• Gain a comprehensive understanding of the difference between Risks and issues and various risk types
• Understand the concepts of risk culture, frameworks, committees, and stakeholders’ principles
• Learn the principles, Identification, assessment/evaluation, management, and mitigation of risk
• Plan risk management and manage the risk register
• Identify project risks using different techniques
• Perform qualitative risk analysis to determine the overall project risk score
• Plan strategies for negative and positive risks