Project Risk Management | PPMT.X406

Project risk management is the application of tools, techniques, and practices to both increase the likelihood of positive project outcomes and reduce the likelihood of negative ones. It requires constant vigilance from the earliest stages of a project through planning and execution and even beyond its completion.

Students in this course will learn risk management practices as they apply to traditional (waterfall) projects and Agile projects, and ultimately to the realization of a project’s intended benefits.

The course reviews basic risk management concepts for waterfall projects and introduces techniques for quantitative risk analysis, incorporating analysis insights into project plans, developing effective risk response plans, and creating project reserves. It also examines Agile practices such as backlog management, sprint planning, and quality management to reduce project risk.

Additionally, the course includes two key risk management topics – root cause analysis and organizational risk management. Root cause analysis helps teams identify potential risks during planning and how to manage them after they occur. Organizational change management assures a higher rate of adoption of project deliverables and realization of benefits to project stakeholders.

Coursework includes in-class team assignments, take-home assignments, and a final project, providing students with practical experience in applying risk management principles.

Learning Outcomes

At the conclusion of the course, you should be able to

• Apply tools and techniques to identify, analyze, and manage project risks
• Use advanced statistical analysis techniques to analyze risk likelihood and impact
• Manage product backlogs, sprint planning, and quality management in relation to risk management in Agile projects
• Utilize root cause analysis during planning and execution
• Apply organizational change management techniques to optimize the adoption of project deliverables and assure benefits realization to project stakeholders

Topics Include

• Traditional project risk management
  • The risk management life cycle – identification, analysis, response planning, monitoring
  • Quantitative risk analysis and advanced data analysis techniques
  • Incorporating risk management into project management plans
  • Risk response planning
  • Creating project reserves
  • Risk monitoring processes
• Agile risk management
  • Managing project scope
  • Managing project time
  • Managing project quality
• Root cause analysis
• Organizational change management and project risk management

Skills Needed