Introduction
Project management requires proactive identification and management of risks to minimize cost/schedule overruns, optimize outcomes, and ensure compliance with policies and regulations. This course equips participants with practical tools, techniques, and strategies for managing risk and compliance throughout the project lifecycle.
Objectives
By the end of this program, participants will:
- Understand the project risk management process and compliance requirements.
- Identify and analyze risks affecting scope, time, cost, and quality.
- Develop risk mitigation strategies and monitoring plans.
- Apply both qualitative and quantitative risk assessment techniques.
- Integrate compliance considerations into project planning and execution.
- Use risk documentation and reporting for effective decision-making.
Target Audience
- Project Managers & Program Managers
- Technical Leaders & Project Sponsors
- Project Controllers and Coordinators
- Risk and Compliance Professionals
5-Day Program Outline
Day 1 – Risk Management Framework & Planning
- Introduction to risk management and compliance
- Key concepts and definitions
- PMBOK® risk management processes overview
- Benefits and responsibilities of risk management
- Integrating risk and compliance into the project lifecycle
- Risk planning: identifying components and types of risk
- Planning approach and documentation
Day 2 – Risk Identification & Assessment
- Risk identification techniques, categories, and outputs
- Cost and schedule estimating in relation to risk
- Work Breakdown Structure (WBS) and schedule diagramming (CPM)
- Resource management, baselines, and EVM for risk tracking
- Qualitative risk assessment: probability, impact, and prioritization
- Case study and exercises
Day 3 – Quantitative Risk Analysis
- Quantitative techniques: Monte Carlo simulation, PERT, decision trees
- Expected Monetary Value (EMV) and sensitivity analysis
- Scenario planning for opportunities and threats
- Integration of quantitative results into project plans
- Risk prioritization and contingency planning exercises
Day 4 – Risk Response & Monitoring
- Developing response strategies for threats and opportunities
- Contingency and management reserves
- Monitoring and controlling risk: tools, indicators, dashboards
- Evaluating effectiveness of risk response plans
- Compliance monitoring and reporting requirements
- Practical exercises on risk mitigation and communication
Day 5 – Lessons Learned, Review & Action Planning
- Consolidation of risk management and compliance principles
- Risk documentation and reporting techniques
- Stakeholder communication and escalation procedures
- Real-life case studies and group exercises
- Developing personal and organizational risk improvement plans
- Wrap-up, discussion, and final Q&A
