Risk Management is an evolutionary topic with new developments on a regular basis. In the Advanced Risk Management seminar, Carl Pritchard, PMP® takes participants through the advanced concepts of setting organizational thresholds and triggers, building risk models and working with the newest concepts in risk management, including David Hillson's Risk Breakdown Structure. Through hands-on case practice, the course examines alternative means to ensure consistent risk management practice and protocols, and to apply metrics to project risk as project go from feasibility to implementation and change. As a component of the program, participants will build a sample risk model.
What constitutes advanced?
• Risk Metrics
• PMO Applications
• Organizational Risk Parameters
• Setting risk thresholds
• Building risk triggers
• Metrics in Risk Identification and Prioritization
• Risk Breakdown Structure
• Risk by Volume
• Metrics in Quantification
• Monte Carlo
•Strategies, History, Templates
PMO roles in Risk Modeling
Setting Critical Areas
Weighting a Model
Modeling and Contingency Budgeting
Who should participate? Those who feel that they have a grasp of the fundamentals of risk but want to use some of the more advanced tools, including the construction of risk metrics and models.
What will they get? Students will leave the class with the ability to construct risk models, establish and communicate risk metrics and begin the construction of scripts to establish risk tolerances and thresholds. They will also learn a variety of ways to establish project contingency.