Risk Management Program.

About the Program

Exploring Risk Management helps in identification and analyzation of alarming issues that may potentially arise during a project. By this, it renders how risk analysis is a valuable and a practical decision-making tool, essential in identifying potential benefits and risks of every option, assessing the likelihood of these risks occurring, and finally, reducing the magnitude of a negative event. Consequently, this program is drafted to relay the best practices, framed to ensure that projects adhere to timeframes, budgets, and quality requirements; while mitigating risk.

Program Objectives

• Prepare a risk management plan to guide their risk approach.
• Identify project risks by using different identification tools.
• Integrate risk management techniques and results into a balanced project management approach.
• Use multiple techniques to identify and document risks.
• Apply scalable planning methods to prepare for project risk management.
• Perform qualitative risk analysis to prioritize risks for response and monitoring.
• Perform quantitative risk analysis to assess risk to the overall project cost and schedule objectives.
• Incorporate expected value, probability, and distribution through risk analysis.
• Determine and implement appropriate risk response strategies based on risk analysis.
• Estimate and characterize the impact and timing of risks on their project.
• Monitor and control identified and emerging risks based on the risk management plan and project execution results.
• Communicate risks effectively to all project stakeholders.