Practical Project Risk Management

Overview and Learning Objectives.

This workshop is designed to introduce project leaders to the theory and practice of practical project-based risk management, using Mosaic's Risk Register and Risk Management Plan (Excel templates).

Attendees will work through a case study applying practical risk management theory to develop a project risk register and a project risk management plan in sufficient detail to allow the effective management of risk during project delivery.

Who should attend: Project and program managers, project owners and senor team members.

Attendees will be provided with free copies of Mosaic's Risk Register and Risk Management Plan (Excel templates) and a comprehensive set of course note and references to additional resources.

Risk Management Training

Course Outline - 1 Day

  • Introduction & housekeeping
  • Course plan and objectives
  • Mosaic’s Risk Management methodology
  • Step 1: Identify
    • What is risk (and opportunity)
    • Planning for Risk Management
    • The process of risk identification (Case study)
  • Step 2: Prioritize
    • Qualitative Risk Analysis
    • Quantitative Risk Analysis
    • Prioritizing the case study
  • Step 3: Visualize
    • Methods for mapping risks
  • Step 4: Respond and Manage
    • Development of a Risk Response Plan
    • Reporting Risk
  • Step 5: Monitor
    • Factors that affect identification and management of risk and opportunity
    • Risk Reviews
  • Course Wrap-up

Workshop Details

This course includes an in-depth analysis of a case study using Mosaic's Excel templates to develop a Risk Register and a Risk Management Plan. The course can be adapted to use a practical case study from your business or one of our standard cases.

Modules and Options

The basic workshop can be adapted (or extended) to include modules focused on a range of significant risk issues including:

Managing the different types of risk: Different types of risk need different management approaches and only some can be calculated. See: Types of Risk.

Using Monte Carlo and PERT: Introducing uncertainty and three time estimates for each activity increases accuracy. See: Predicting Future Project Outcomes The power of uncertainty.

Interfacing risk and EVM: Based on Interfacing Risk and Earned Value Management, published by the Association for Project Management UK. This module is also part of our Earned Value workshop and EVM Mentored Email Course.

Understanding probability and averages: Understanding probability is central to the analytical methodologies used to determine the probability of events occurring (or not occurring) that allows contingencies to be calculated based on mathematical certainties. See WP1037: Probability.

If you have other needs we are happy to discuss developing modules from our extensive range of risk management resources.

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PDUs and AIPM CPD Points.

PMI PDUs. Attendees at Mosaic's project management workshops earn 1 PDU per hour of teaching time (typically 6 PDUs per day). The breakdown of PDUs across the PMI Talent Triangle® depends on the modules selected for inclusion in the course - the PDUs to be earned are agreed during the course design phase and are included on your individual course attendance certificates. See more on the PMI Talent Triangle®

AIPM CPD. Attendees at Mosaic's project management workshops earn points based on the AIPM CPD points table current at the date of the course, currently you earn 2 points per hour to a maximum of 20 per course (B08 - Knowledge): see more on the AIPM website.

Other CPD requirements. Mosaic retains details of courses and attendees to support CPD claims in most organisations and we are happy to work with you to ensure you can claim your entitlements.