Project Risk Management

Name: Project Risk Management
Rating: 4.3 (5052 reviews)

Practice of identifying , analyzing, prioritizing and mitigating risks

Created byKhalid Abdelaal

Last updated 2/2018

English

What you'll learn

Gain knowledge an techniques to apply project risk management

Course content

5 sections • 20 lectures • 2h 17m total length

Introduction1:26
Definition of Risks9:44
Project Risk Management Processes3:08
Identify and analyze risks, evaluate and monitor them through a structured set of risk management processes, aligned with PMBoK's five process groups and knowledge area 11.

Risk Identification9:32
Risk Breakdown Structure4:16
Identify risks using a risk breakdown structure, a hierarchical framework that groups internal risks, external risks, and subcategories like technical, management, and commercial to simplify risk identification.
Risk Breakdown Structure Examples7:06
Explore risk breakdown structure examples, detailing how to group and break down project risks into technical, management, commercial, and external categories, with level-based detailing and checklists for identification.
Risk Rigster8:14
Learn to build and monitor a risk register and risk breakdown structure from identification to the project life cycle, detailing risk IDs, owners, descriptions, causes, events, and responses.

Qualitative Risk Analysis - Probability & Impact7:34
Analyze identified risks through qualitative risk analysis by scoring each risk's probability and impact to prioritize actions, update the risk register, and guide evaluation across time, cost, scope, and quality.
Risk Analysis Matrix5:54
Update Risk Register8:47
Update the risk register by applying the risk matrix to classify time and cost impacts, score risks, assign risk owners, and document responses.

Quantitative Risk Analysis - Introduction9:00
Quantitative risk analysis estimates the effect of all risks on project objectives and uses tools such as sensitivity analysis, decision tree analysis, and Monte Carlo analysis to inform risk response.
Sensitivity Analysis3:55
Identify and prioritize risks by sensitivity analysis, assessing each risk's potential impact on project objectives while holding other uncertainties constant, using a tornado diagram to rank high to low impact.
Tornado Diagram6:13
Apply sensitivity analysis with a tornado diagram to identify which activities most impact project duration and cost, using three-point duration estimates in Bravo risk analysis.
Decision Trees6:40
Explore decision trees as a quantitative risk analysis method to compare alternatives, calculate the expected monetary value for each branch, and choose the optimal build or upgrade option.
Simulation Analysis4:52
Explore simulation and Monte Carlo analysis to quantify risk and uncertainty, using repeated project iterations to estimate durations and costs and determine probabilities of finishing on schedule and within budget.
Monte Carlo Simulation10:28
Monte Carlo simulation uses random sampling and many iterations to reveal the range of possible outcomes in quantitative risk analysis, illustrated by a two-dice example.
Simulation practical example using Excel12:14
Simulation using Primavera Risk Analysis6:44

Requirements

Basic knowledge of project management

Description

Project Risk Management (PRM) provides an effective approach to improve decision-making, reduce threats, and increase the probability of the project achieving its cost, time and other objectives This Course provides a basic understanding of risk management concepts and how to identify, analyze, and mitigate risks.

Project risk management is the proactive process of identifying, analyzing, and mitigating potential threats and uncertainties that could impact the successful completion of a project. It involves systematically assessing both internal and external factors that may pose risks to project objectives, timelines, and budgets. By anticipating and addressing these risks early on, project managers can develop effective strategies to minimize their impact or exploit potential opportunities. This typically includes steps such as risk identification, risk assessment, risk prioritization, risk response planning, and risk monitoring and control throughout the project lifecycle. Ultimately, effective risk management enhances project resilience, fosters stakeholder confidence, and increases the likelihood of achieving project success.

Build a Powerful Knowledge of Risk Management

Risk management processes
Definition of risks
Risk Identification
Risk Breakdown Structure
How to create a risk register
Qualitative risk analysis
Quantitative risk analysis
Risk mitigation

Course Objectives

This course is designed to cover different areas that related to Project Risk Management.

I have deigned this course in a simple way that enable you to understand risks and we start the course from early beginning explaining definition of risks and how to identify , analyze, mitigate and control risks.

Also I have tried to support the theoretical issues wit practical examples.

By completing this course you will have the knowledge of using tools and techniques to identify , analyze , mitigate and control risks in a professional manner .

Who this course is for:

Project managers - Planning engineers - Construction engineers

Project Risk Management

What you'll learn

Explore related topics

Course content

Introduction3 lectures • 14min

Risk Identification4 lectures • 29min

Qualitative Risk Analysis3 lectures • 22min

Quantitative Risk Analysis8 lectures • 1hr

Risk Response2 lectures • 12min

Requirements

Description

Who this course is for: