Project Risk Management

All projects start with uncertainty, creating wide-ranging consequences from unmet plans to total organizational failure. Nearly all projects are conducted in some form of a regulatory environment. But regulation alone cannot assure success. Ongoing research shows that risk management is still a frequently neglected area of planning, including in regulated environments such as healthcare, medical devices, and pharmaceuticals. This course examines a framework that may be applied to any projects and other initiatives to scale risk management best practices quickly. Through instruction and realistic, scenario-based assignments, students are introduced to organized and practical approaches to manage project risks and improve overall project outcomes.

During this course, participants will learn to:

• Understand the importance of risk management for both project and organizational success.
• Evaluate and analyze risks for probability and impact, and document them in a prioritized risk register.
• Understand, use, and tailor a framework for risk management.
• Apply scalable templates for risk management plans, risk assessment workshops, risk registers, and risk assessment matrices for initiatives.
• Determine risk mitigations and contingencies for both cost and time.
• Apply some common tools and techniques for all stages of risk management.
• Apply a seven-step qualitative risk response planning process to guide key management decisions.
• Understand how to implement approved responses to project risks.
• Improve the ability to monitor, detect, and respond to risk events.