No matter how well a project will be prepared and executed, risks can never be avoided. Risks are about events that, when triggered, cause problems. Within a project, risks are unplanned events or conditions that can have a positive or negative effect on its success. Positive risks are considered opportunities. Risks however are related to identified threats; for example the threat of resource shortcomings, the threat of losing orders, the threat of abuse of privacy information, but also the threat of accidents and casualties. Risk is everywhere. We all understand that the risks our daily activities bring are an exchange for the benefits we get from accepting that risk.

Too often, formal risk assessments are not performed on projects with disastrous results. End dates are missed, quality suffers, budgets are blown and many projects are being cancelled for this reason. The risk issue is therefore an indispensable but demanding subject. This subject unfortunately gets too often neither the attention nor the budget it needs. It will be necessary however to get to work identifying risks that can hinder the project’s or company’s success.

So, it’s clear that this subject must get an appropriate budget in projects and it requires a high level of professionalism still without a guarantee for success. But even when you, being the project manager, would opt against risks, the odds are that you will be suddenly surprised down the road with consequences that may be harmful to your project soon or to your company on the long run. So how does a project manager succeed at an activity in which he must participate and in which the odds of success are still open? Continuous Risk Management in projects is the answer.

Risk management is a planned and systematic process to reduce and/or eliminate the probability that losses will occur in a specific setting. From a definition standpoint, risk management is the human activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources. When it comes down to Active Risk Management applied in real world situations, the risk management process can be focused on three distinct, yet interrelated areas a) Risk identification & loss prevention, b) Loss reduction, c) Risk financing.

Risk is a daily reality on all projects, and continuous risk management should therefore become just a routine. It should be ongoing and comfortable and neither imposed nor forgotten. Like any good habit, it should seamlessly fit into the daily work of the project manager. The risk management seminar will therefore focus on the practicable application of risk management tools, on the statistical as well as on financial management aspects. Risks will then be less threatening and become a controllable issue in managing your projects. This three-day seminar in brief:

Risks Management Planning

Tools & Techniques for Risk Management Planning

Identifying Potential Risk and Risk Ranking

Tools & Techniques used to identify Risk

Analyzing Risks using Qualitative Techniques

Analyzing Risks using Quantitative Techniques

Risk Response Planning Tools and Techniques

Preparing for risk assessment sessions

Risk assessment and management tools

Developing Risk Mitigation Plans

Risk versus Uncertainty

Risk Management versus Crisis Management

Assessing at the WBS level

Probability of failure and consequence of failure

Effective risk management tools from NASA that can be applied to all projects

Expected Monetary Value as it applies to decision making among options

This course is designed for Project, Program and Portfolio Managers, Risk Managers, team members, and other professionals who are currently planning to embark on a project risk assessment. Some Key-words to this seminar: Delphi Technique, Scales of Probability and Impact, SWOT, Ishikawa, Risk Register, Sensitivity Analysis, Monetary Value, Decision Tree Analysis, Monte Carlo Technique, Earned Value Analysis, Iterative Risk management.

The key with risk management is to adhere to the principles, perform the functions, and adapt the practice to fit the project's needs. Continuous risk management is not "one size fits all". To be effective, tailoring is needed. Tailoring occurs when organizations adapt the processes, select methods and tools which best fit their project management practice and their organizational culture. Following the principles of the continuous risk management is the key to successful tailoring.

This seminar has been designed to teach the seminar participants effective techniques for measuring and assessing risks, planning to mitigate those risks and managing risk throughout the life cycles of their projects. They will be able to effectively communicate the outcome from the project schedule and cost risk assessments to the key stakeholders. Emphasis is placed on conducting formal risk assessments with the entire project team. From identifying risk attributes to developing risk management plans, seminar attendees will learn how to take the risk out of their projects before they become problems. A risk is generally not a problem. A problem however, is an unobserved risk which time has come.

Learn from an experienced and amusing Alpha Pendular instructor available in every “Open Seminar” or upon request in your organization! Most risk management courses are too short to be effective, dry, boring and tedious. But Alpha Pendular’s talented instructors are well known for their field-tested approach and fun delivery in trainings and seminars. Our trainer takes his time for you and makes the learning program highly effective and entertaining. No matter how ambitious you are, visit first our risk management seminar. Advance your skills and book your ticket to an invaluable training.

3 days course; Price: Euro 830,- (per person, excl. 20% VAT)