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Opportunity and Risk Management
Effectively identifying and managing project risks is a critical skill for all project team members. Often overlooked is the equally critical need to identify and manage opportunities to maximize project success. This course will provide a detailed understanding of tools, techniques, and methodologies to accomplish both opportunity and risk identification and management.
Course Overview
Identifying the potential risks and opportunities is only part of the solution. Participants will learn techniques to quantify and prioritize risks, analyze planned activities for reducing risks and enhancing opportunities, ways to document the results, and methods to manage the risks throughout the project’s life cycle.
Students will be provided templates and checklists and will gain familiarity with their use through facilitated hands-on exercises that reinforce the learning objectives.
Course Format
The course is two-days in length and combines classroom instruction with hands-on exercises designed to teach opportunity and risk identification, enhancement/mitigation, and management techniques.
Who Should Attend
Senior managers, project managers, project team members, and all those who are responsible for assessing and managing the risk associated with a project.
You Will Learn How To
* To identify “best practices” for opportunity and risk management
* The importance of developing and implementing an opportunity & risk management plan
* Specific tools and techniques for implementing an effective opportunity and risk management program
* To use the techniques through group exercises
* To use effective checklists and templates
Course Outline
* Introduction and overview
o Why manage opportunities and risks
o Types of project risks
* Opportunity and risk management process
o Definitions
o Process
o The risk management plan
* Identify opportunities and risks
o Implementation risks
o Product risks
o Strategic opportunities
o Tactical opportunities
o Risk identification factors
o COTS/NDI risks/ opportunities
o Identifying programmatic risks
o Risk identification methods & tools
* Quantify opportunities and risks
o Opportunity and risk quantification
o Risk prioritization
o Risk analysis techniques
* Decide on and implement the response
o Opportunity enhancement objectives and actions
o Risk mitigation objectives and actions
o Documenting the plan and getting stakeholder agreement
* Control response
o Status and control techniques
o Technical Performance Measurement (TPM)
* Opportunity and risk checklists
