Risk Management

Seminar Overview

Participants will be provided with a systematic, interactive approach to project risk/opportunity management that consists of Risk Identification and Analysis methodologies, Risk Response Planning tools and recommended practices for Risk Monitoring and Control. Participants also apply strategies to various case situations in order to evaluate the probability and impact of risks and to learn how to successfully prioritize them.

Learning Objectives and Outcomes

• The Risk Management Process consistent with the Project Management Body of Knowledge (PMBOK^® Guide ), including phases of Planning, Identification, Analysis, Response Planning, and Monitoring & Control.
• Techniques in identifying risks such as brainstorming, reviewing historical data, risk categorization and expert interviews.
• Techniques for quantitative and qualitative risk analysis, including Monte Carlo simulations, decision tree analyses, probability/impact matrices, expected value calculations and risk modeling techniques.
• The steps and approaches to risk response planning, including methods to tailor the steps to fit project needs.
• How to manage risks throughout a project using methodologies for risk monitoring and control, including taking corrective actions, using reserves, mapping risk to earned value analysis and performing risk audits/reviews.

At the end of the seminar, participants will be able to:

• Develop a comprehensive risk management plan for a project.
• Identify risks in cause-risk-effect format using project data such as the project charter, WBS, project plan, and historical records.
• Qualitatively analyze risks to develop probability and impact ratings for risks.
• Quantitatively analyze risks to determine time/cost probabilities and impacts and overall project reserves.
• Apply expected value analysis and decision tree analysis to project scenarios and make recommendations based on these models.
• Develop response plans for top-risks that include approaches to avoid, mitigate, accept, and transfer risks.

About our instructor, John Sherlock

John Sherlock, an Adjunct Professor with UMass Lowell, is an accomplished and credentialed technical management professional with over 40 years of experience in the energy, financial, telecom and automotive industries; until recently, an IT Program Manager with Volvo Cars of North America. Responsibilities have included project management, risk management, software design and programming, software installation and support, governance and security compliance, large scale facilities planning and disaster recovery, contract negotiation and patent research, as well as business plan development and higher education curriculum development and instruction.

John is a PMP, a Certified Six Sigma Black Belt, a Certified Six Sigma Instructor, a PMP Prep Instructor, and also credentialed in the areas of software development, IT governance, risk, and audit. Academic credentials include an MBA in ITDM (Information and Technology Decision Management) from Iona University, a Professional Certificate in eCommerce from Iona University, a MS in Telecommunications from Iona University, and a Bachelor of Technology from New York Institute of Technology.

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