Managing Project Risk and Making Decisions 

A 2-day, 14 PDU (1.4 CEU) instructor-led program As you become more skilled at understanding the elements of risk, you can minimize its disruptive effect. Effective front-end planning can decrease the possibility of risk, and on-going risk management provides the environment to make the decision-making process easier if risks do occur. To provide you with tools to help you control the risks on your projects, we have developed Managing Risk and Making Decisions, a two-day course that is part of our Project Management Certificate Program. Managing Risk and Making Decisions shows you how to measure the severity of the risk, how to develop a plan to respond to the risk, and how to keep the risk from recurring or becoming worse. There's both uncertainty and opportunity with all risks - this course will help you explore that relationship and develop your own tools to understand and use risk effectively. Our exciting interactive simulation, Stays & Days® & Dragons, lets you apply risk management measures to your own projects. This program was developed by the same people who wrote the Project Management Body of Knowledge (PMBOK®) for the Project Management Institute (PMI®). It is a highly interactive course, yet follows a well-defined process. During these sessions, you will use real projects that you and your peers are working on - effectively advancing your projects while learning. You will leave each program saying, "I can apply this to my project immediately!" Upon completion, you will be able to: ·      Define project risk and risk management ·      Identify project risks that merit attention ·      Write a risk description that gets senior management attention ·      Create a Risk Plan based on a real project ·      Use range estimates to create reasonable cost and schedule targets ·      Use quantitative and qualitative tools for risk planning ·      Make good decisions under certain and uncertain conditions ·      Recognize conceptual biases that can interfere with good decision-making ·      Apply risk management measures to your own project plans ·      Manage and control risk during the project Who Will Benefit? ·      Project managers who must develop and execute risk plans ·      Team leaders who manage day-to-day project risk ·      Project team members who need to help manage project risk ·      Executives of project management firms that must develop better business, technical, and project risk management ·      Program managers who must coordinate risk management across several projects at the same time Agenda day 1 (morning) Risk and Projects ·      How do you distinguish product, project, and business risk? ·      What are the basic kinds of project risk? ·      How can generic lists and brainstorming help identify risks on your project? ·      Where do you search for schedule risk and scope risk? ·      How do you best categorize risk? ·      How do you apply these concepts to your project? ·      Managing schedule risk with Stays & Days® & Dragons. day 1 (afternoon) Sorting Out the Issues ·      What makes a risk description effective in the eyes of senior management? ·      How do you qualify, rank, and screen risks quickly? ·      What three concerns help you gauge risk impact? ·      How do you estimate risk likelihood? ·      What special contribution does the Risk Chart make to understanding your risks? ·      What does timeframe mean in a risk rating? ·      How does a Risk Table help rank risks? ·      How do you rate the risks in your project? ·      How do you apply these tools to your project? ·      Managing schedule and cost risk with Stays & Days® & Dragons. day 2 (morning) Risk Quantification and Detailed Risk Response ·      How does range-based estimation relate to risk quantification? ·      What are the "triangular" and "beta" distributions and which one is less risky? ·      How do you incorporate schedule risk and cost risk contingencies into your plan? ·      What should be included in a detailed, individual risk plan? ·      Who is a spotter and what is a trigger? ·      What are the five levels of risk response? ·      Where do risk response plans fit in your project plan? ·      Managing schedule, cost, and risk events with Stays & Days® & Dragons. day 2 (afternoon) Decision-Making, Risk Monitoring & Control ·      How do risk management and decision-making interact? ·      How does the concept of desirabilities apply? ·      When do you use decision tables and when do you use decision trees? ·      How do you manage decision-making under uncertainty? ·      What innate biases must you guard against? ·      How can you monitor the project for risks and opportunities? ·      How do you react to risk during the project? ·      How do you apply these tools to your project? ·      What should your next steps include? ·      Which step should you take first? ·      Managing schedule, cost, and risk events with Stays & Days® & Dragons Contact us early to be sure to get the training dates you need. Managing Project Risk is also available as a web-based class.