Introduction to Risk, Opportunity and Contingency Management


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.