What is Risk, Opportunity and Contingency Management
Projects, programmes and ongoing operations involve risks. To quantify and manage risks / opportunities, you need to thoroughly analyse risk / opportunities before and during a project. Through identifying, measuring and managing the above processes you learn to quantify risks / opportunities and create risk response strategies to deliver initiatives that meet stakeholder expectations.
Who is this training aimed at?
- Individuals new to the project controls environment and wishing to understand the concepts around the above and how these are currently utilised in their company.
- Individuals who currently hold a PC role or who are involved in a risk management type role within their organisation but wish to understand the above further.
- Project managers using the above processes in their organisation.
- Project Managers and PMO members that are considering implementing the above processes in their organisation.
Learning Objectives
- Monitor risks, opportunities and uncertainties throughout the course of the project’s implementation
- Review, identify and maintain contingencies throughout the course of the project’s implementation
- Understand the risk, opportunity and uncertainty analysis and management process
- Understand the relationship between risk opportunity and uncertainty analysis and management of these requirements
Course Units Include
- Overview of Risk Management.
- Creating a successful risk management plan.
- Identifying risks and opportunities.
- Developing a project risk/ opportunity register that’s workable.
- Analysing and assessing risks/opportunities through quantitative methods.
- Analysis of the results.
- Risk Response planning (Incl Opportunity / Contingency planning).
- Monitoring and controlling risks.
- LFE on risk that has materialised.
