This training workshop will give participants awareness on project risk, how to minimize project cost and improve project execution.
Project management is all about the management of risks; the ability to seize opportunities, minimize threats and to optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management training course, participants will work through the proactive approach to both sides of risk: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.
The course will examine both the threats and opportunities facing projects from both a top-down and bottom-up perspective using a proven six-step risk management process
It will evaluate and respond to risk at the project as well as the task levels
It will anticipate possible causes of cost and schedule overruns, together with poor quality of work. By identifying the warning signs to these as early as possible in the project timely corrective action can be taken to minimize or mitigate the impact
An issue facing most projects is compliance; with both internal corporate policy and with government regulations. Failure to properly proceed in this area can result in costly schedule and budget problems on a project.
Course duration
5 days
Target participants
The training course is designed to provide practicing project managers, program managers, technical leaders and project sponsors with the skills and knowledge to successfully manage risk throughout the project cycle.
Course objectives
• Get an overview of the Risk Management Process
• Learn to identify risks that affect project quality, time & schedule, cost and scope
• Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
• Learn how to create an effective risk monitoring plan and risk management strategies
• Use a practical, six-step process to manage project risk
• Develop a risk budget based on Expected Monetary Value (EMV)

Training Methodology
The training methodology will incorporate both theory and skill training components, utilizing both traditional lectures, as well as hands-on exercises, group discussions and case studies.

Organizational Impact
Both private and public organizations will greatly benefit from systematic approach to managing project, which will improve the likelihood of on-time and on-budget project completion by focusing on:
• Risk management planning in line with project objectives
• Proactive identification of risk sources and minimization of their impact
• Knowledge of risk compliance issues and practices
• Understanding the relationship between risk, scope, cost & time
• Knowledge of mathematical techniques used in risk analysis
• Evaluating alternative risk strategies and modifying project plans accordingly
Personal Impact
• Identify threats and opportunities and weigh their relative value in your project
• Learn how to rank risks based on the amount of exposure to the company
• Develop the skill necessary to quantify risks
• Employ the concept of Expected Monetary Value (EMV) to prioritise the risk mitigation strategy
• Control multiple risks using concise strategies
• Make risk and opportunity integral components of your next project plan
Course Outline
• Risk Management Framework and Planning
• Key definitions
• Project Management Body of Knowledge (PMBOK) - 6 risk management processes
• Purpose & benefits of risk
• Responsibilities in risk management
• Integrating risk management into the project management process
• Overview of six steps of risk management 

• Plan the approach to risk management
• Planning inputs, tools & outputs
• Risk Identification Processes
• Project Context & Stakeholders
• Project Estimating Techniques
• Defining Scope via Work Breakdown Structure (WBS)
• Identification inputs & tools

• Risk identification techniques & categories
• Risk identification outputs
• Risk Assessment and Quantification Processes
• Schedule diagramming - critical path method (CPM)

• Resource management

• Risk analysis approaches - qualitative & quantitative
• Bow-tie Semi Quantitative Analysis Tool.

• Program Evaluation & Review Technique (PERT)

• Risk Response Plan Development
• Decision trees
• Risk prioritization
• Risk response strategy guidelines

• Response strategies for threats & opportunities
• Response planning & analysis
• Response and Expected Monetary Value

• Alternative responses

• Response validation
• Reserves - contingency & management
• Risk Response Control
• Risk response control tools

• Risk response control guidelines

• Risk strategy execution
• Evaluating risk response results
• Risk documentation
• Deliver Presentation

Course Fees
Kenyan residents: Kshs 100,000/= International: USD 1,000/=
The fees cover tuition, Lunch and tea break snacks. Participants are expected to cover their travel expenses, accommodation and any other out of pocket expenses. Accommodation can be reserved on prior arrangement.
Mode of payment
Payment shall be through electronic fund transfer to Africa Development Resources bank account 7 days prior to the commencement of the course.
For more information please contact us on:
Telephone: +254733846186