A meaningfully applied risk management framework provides the much needed support and enhancement to workplace planning and execution, to ensure success and acceptance by the key stakeholders whether in a project or operational environment. This focused and intensive workshop will equip participants with an integrated base of project management skills and knowledge in the area of Project Risk Management planning, monitoring and controlling from a mitigation and contingency response viewpoint. (Note: Please enquire for public fulltime/part-time schedule or for in-house or group training)

Course Benefits

Through interactive learning, scenario evaluations and direct applications, participants will:

• Learn the fundamental procedures to approach risk management
• Identify key characteristics of risks
• Identify risk elements that can potentially impact projects
• Develop an effective Risk Register and Risk Management Plan structure
• Understand the significance of assumptions wrt risk management
• Be able to evaluate risks based on risk probabilities and risk impacts
• Appreciate the dual nature of risks and link this to risk profiles of organizations
• Apply qualitative risk analysis and quantitative risk analysis
• Understand risk response development
• Be able to differentiate between mitigation activities vs. contingency activities

Target Audience

This workshop is ideal for core team members as well as personnel from functional departments and project teams who want to gain a strong insight into a risk management approach that drives incremental success.

This program is also suitable to existing certified PMPs who would like to reinforce and expand on their project skills and knowledge while simultaneously gaining certification renewal PDUs.

Course Outline

1. Fundamentals of Risk Management

• The Duality of Risks
• What is Risk Management in Relation to Workplace and Business?
• Fundamental Principles of Risk Management
• Categories and Sources of Risks
• Risk Probability and Risk Impact

• Key Steps in Project Risk Management
• The Risk Register
• The Risk Breakdown Structure (RBS)
• Probability and Impact Matrix

• Tools for Identifying Risks
• Differentiating Causes, Events and Impacts
• Allowance for Risk Tolerance
• Identifying Risk Appetites of Key Stakeholders

• Qualitative vs. Quantitative Perspectives
• Mitigation vs. Contingency Strategies
• Risk Responses to Threats
• Risk Responses to Opportunities

• Differentiate between Monitoring vs. Controlling
• When to Monitor? When to Control?
• What to Monitor? What to Control?
• Who to Monitor? Who to Control?
• Reporting on Risks on a Progressive Basis

• Participants re-cap lessons learnt that are applicable to their project environment and develop a fundamental Action Plan to move forward with in their project environment.

• Identifying a work environment risk and designing approaches to manage it

Trainer Profile

Charles Lim (MBA, BSc, PMP, PRINCE2, CMC-BCI Certified Master Coach, Grad Dip SA, Grad Dip AI, AFP, AWP)

Charles Lim (MBA, BSc, PMP, PRINCE2, CMC-BCI Certified Master Coach, Grad Dip SA, Grad Dip AI, AFP, AWP) has over 30 years of career experience. He has spearheaded business projects and led both project teams and management teams overseeing functional areas including Sales, Marketing, Operations, Procurement, HR and Finance. Charles has also taken on a wide array of business and managerial roles and responsibilities with strategic and bottom-line accountability from both the Revenue as well as Cost perspectives.

Charles is a long-term practicing corporate trainer and management consultant who have trained and worked with thousands of personnel in the region, enabling organizations to prioritize and strategize growth through enhancing, aligning and leveraging on the capacity of an organization's processes, technology and, very importantly, its people. Charles has also successfully trained over a thousand participants in both PMP® and PRINCE2® certification programs.

He has also helped establish internal auditing procedures and identify related KPIs. Charles' many successes are bound by his extensive experience complemented by his inimitable approach in bringing across difficult concepts or apparently conflicting perspectives of different stakeholders to a new alignment.