Strategic Risk Management

1 – Introduction

• Risk management concepts
• Benefits of strategic risk management
• Integrating risk management within the project management life cycle
• Taking a leadership role in risk management
• Definitions of stakeholder risk tolerances and attitudes
• Developing a risk management plan
• Defining risk categories
• Defining probability and impact
• Developing a risk matrix
• Communicating risk information
• Critical success factors
• Risk Identification
• Identifying types of project risks
• Critical success factors
• Who should be involved in risk identification?
• Tools & techniques for identifying risks
• Writing an accurate risk statement
• Developing a useful risk register
• CASE STUDY EXERCISE

2 – Risk Analysis

• Qualitative risk analysis defined
• Critical success factors
• Risk probability and impact assessment
• Risk urgency assessment
• Using the risk matrix
• Quantitative risk analysis defined
• Knowing when to quantify
• Risk impact calculation
• Expected monetary value – determining the risk reserves
• Decision trees
• Monte Carlo simulation & probability distributions
• CASE STUDY EXERCISE

3 – Risk Response Planning

• Response Planning
• Critical success factors
• Risk response strategies
• Developing the risk response plan
• Tools & techniques for risk responses
• Planning for Residual and Secondary Risks
• Response planning documentation
• CASE STUDY EXERCISE

4 – Controlling Risk

• Purpose and objective of risk monitoring and control
• Life cycle of a Risk
• Critical success factors
• Using contracts as a risk management tool
• Tracking risks using the risk register
• Implementing risk response plans
• CASE STUDY EXERCISE

5 – Risk Closure and Communication

• Purpose and objective of risk closure and communication
• Critical success factors
• Communicating risk status
• Creating a central repository of risk information – the Corporate Knowledge Base