Project Management
Project Risk Management
Boosting Business Success through Robust Risk Management

Duration: 3 Days
Who Should Attend:
- CEOs, CFOs & Financial Controllers
- Business Development Managers
- Project & Risk Management Professionals
Course Objectives
- Understand the importance of implementing a risk management strategy
- Learn how to maximise organisational growth and profitability using the risk management process
- Familiarity with an effective framework and process for the management of risk
- Obtain specific techniques to identify, assess, manage and monitor risks
- Explore methods used to plan and implement risk management actions
- Practice the use of risk management tools and techniques
- Identify how to use risk management to ensure compliance with corporate policies and governmental regulations.
What will you gain?
By the end of this course, you will be able to:- Understand the significance of risk management and how it can help an organisation succeed in its objectives
- Identify actual requirements for the implementation of proper risk management
- Discover and address common roadblocks that hamper the effective management of risk
- Ascertain the amount of risk that the organisation can endure before reaching irreparable loss
- Recognise all kinds and causes of risk exposure that is typically faced by an organisation
- Use tried and tested techniques to analyse and assess the risks identified for timely decision-making
- Create action plans to manage any immediate and/or high level risks, and take the necessary corrective measures
- Document and organise sensitive risk related information in risk registers
- Become better equipped in monitoring and controlling risk, as well as, communicating risk results with management and organisational stakeholders
- Devise and implement a corporate strategy that mitigates and manages the impact of risk on the business while ensuring compliance with governmental regulations.
Course Content
Understanding Risk Management- The need for risk management and its benefits to the business
- Importance of the effective identification, assessment and management of risk
- Definition of a risk
- Difference between risks, issues and assumptions
- Requirements for effective risk management
- Barriers to effective risk management; and how to address them
- Scope and intensity of risk management
- Degree of risk tolerance considered acceptable to the organisation
- The risk management process
- Roles and responsibilities in risk management
- Documents and products used in risk management
- Types and categories of risks present in specific business areas
- Methods of capturing the relevant risks and how to use them
- Describing risks to enable effective risk analysis
- Identifying the causes of risks
- Classifying identified risks to aid analysis
- Identifying residual risk that remains after existing business controls have been taken into account
- Three business reasons for analysing risk
- Risk analysis to convert the risk statements into decision making information
- Risk analysis process
- Establishing criteria for determining probability & severity of impact, for risk assessment consistency
- The Risk Assessment Matrix
- Determining overall risk level; high, medium or low
- Risk management action planning, focusing on high level risks
- The five major types of actions for managing risks
- Examples of the five major types of actions for managing risks
- Purpose of recording risk details in a Risk Register
- Details to include in the Risk Register
- Importance of allocating an owner for each risk
- Responsibilities of the risk owner, and the support they require
- Using the Risk Register for monitoring and controlling risks
- Updating the Risk Register
- The steps and actions involved in monitoring and controlling risk
- Limit Testing Method to monitor and control medium and low level risks
- Frequency of monitoring and controlling risks
- Communicating risk monitoring results with key staff and stakeholders
- Managing stakeholders perceptions
- Tracking changes in risks
- Recording of closure or passing of risk on the Risk Register
- Recording of action taken to mitigate and manage the risk
- Capturing lessons learned from risk management for use in future risk management.

- ABC Success: Skills Development for Nationals - ILM Endorsed
- Achieving Business Success - ILM Endorsed
- Advanced Business Writing
- Career Planning and Talent Management
- Coaching and Mentoring Skills for Managers - ILM Endorsed
- Competency-Based Interviewing Skills - ILM Endorsed
- Core Skills of Emotional Intelligence - ILM Endorsed
- Creative Thinking, Problem Solving and Decision Making - ILM Endorsed
- Customer Service Excellence - ILM Endorsed
- Effective Business Writing
- Effective Report Writing
- Excellence in Presentations & Public Speaking - ILM Endorsed
- Finance for Non-Finance Professionals - ILM Endorsed
- Fundamentals of Project Management - ILM Endorsed
- High Impact Team Building - ILM Endorsed
- Leading High Performance Teams
- Mastering the Art of Effective Communication - ILM Endorsed
- Mastering the Art of Office Administration - ILM Endorsed
- Powerful Negotiations - ILM Endorsed
- Powerful Salesman - ILM Endorsed
- Strategic HRM & Talent Management - ILM Endorsed
- Strategic Thinking and Planning - ILM Endorsed
- Strategies for Successful Change Management - ILM Endorsed
- The New Star Management Supervisor - ILM Endorsed
- The Strategic People Manager - ILM Endorsed
- Train the Trainer - ILM Endorsed
Course Categories
- Best-Seller Courses
- Administration & Office Management
- Business Communication
- Customer Service
- Emotional Intelligence
- Finance & Budgeting
- HR & Training
- Leadership & Management
- Marketing PR & Sales
- Microsoft Office
- Nationals Development
- Professional Self-Development
- Project Management
- Procurement & Contracts
- Quality Management
- Strategy & Planning
- Team Building