Strategic Risk Management
Treat risk as a strategic discipline rather than a checklist.
About this course
Treat risk as a strategic discipline rather than a checklist. In one day you will integrate risk management into the project life cycle, identify risk types with the right stakeholders, assess probability, impact and urgency, choose and document response strategies, and monitor, control, close and communicate risks, guided by critical success factors at every step.
Curriculum
- Risk management concepts
- Benefits of strategic risk management
- Integrating risk management within the project life cycle
- Taking a leadership role in risk management
- Understanding stakeholder risk tolerances and attitudes
- Developing a risk management plan
- Defining risk categories, probability, and impact
- Creating a risk matrix
- Effective risk communication
- Critical success factors for risk planning
- Identifying types of project risks
- Critical success factors for risk identification
- Stakeholders in the risk identification process
- Tools & techniques for identifying risks
- Writing accurate risk statements
- Developing a practical risk register
- Case Study Exercise
- Qualitative risk analysis overview
- Critical success factors for analysis
- Assessing risk probability, impact, and urgency
- Using the risk matrix effectively
- Quantitative risk analysis: when and why
- Calculating risk impact
- Expected monetary value (EMV) and risk reserves
- Decision trees for risk assessment
- Monte Carlo simulation & probability distributions
- Case Study Exercise
- Overview of response planning
- Critical success factors for response planning
- Risk response strategies and documentation
- Tools & techniques for planning responses
- Addressing residual and secondary risks
- Case Study Exercise
- Purpose and goals of risk monitoring and control
- Understanding the life cycle of a risk
- Critical success factors for controlling risks
- Using contracts as risk management tools
- Tracking risks with the risk register
- Executing risk response plans
- Case Study Exercise
- Purpose and objectives of risk closure
- Critical success factors for closure and communication
- Communicating ongoing risk status
- Creating a centralized risk repository: the Corporate Knowledge Base
Who it's for
Senior project managers, programme leads and risk owners responsible for project outcomes.
Before you start
No formal prerequisites. Bring curiosity and a willingness to practise.
Part of these Alalamia diplomas
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