Objectives

To introduce students to key concepts, skills and techniques needed to manage risk effectively in organizations.

Instruction

Method: Lecture, computer simulations, case studies, class exercises, and homework

Material: Course workbook

PMBOK Knowledge Areas

• Integration Management
• Scope Management
• Time Management
• Cost Management
• Risk Management

Topics Covered

• Types and sources of risk
• Australia/New Zealand Standard AS/NZS 4360:1995
• Risk management process (risk identification, impact, planning, control)
• Creating and using risk checklists
• Risk impact matrix
• Statistical roots of risk management
• Modeling risk
• Monte Carlo simulations
• Use of the normal, beta and triangular distributions
• Decision trees
• Analytical hierarchy process (AHP)
• Benefit-cost analysis (reviewing trade-offs)
• Political risk
• Overview of risk mitigation strategies
• Independent verification and validation with risk assessment groups (RAGs)

Course Length

This course comes in varying lengths depending upon the needs of your organization. Project Management Professionals (PMPs) are eligible to earn Professional Development Units (PDUs) for taking this course.

Arrange a Course

Contact UMT Corporate Training at (703) 516-0035 or training@umtweb.edu to schedule a course.