PMP - Risk Management

Online Project Risk Management Training:

– Project Risk management is inevitable in a business organization when undertaking projects. The project manager needs to ensure that the risks are kept to in a minimal. Project Risks can be mainly divided between two types, one is negative impact risk and another one is positive impact risk.

– Not all the time would be project managers be facing negative impact risks as there are positive impact risks also. Once the risk has been identified, the project managers need to come up with a mitigation plan or any other solution to attack the risk.
– Project risk management managers face many difficulties when it comes to identifying and naming the risks that occurs when undertaking projects. These risks could be resolved through the structured or unstructured brainstorming or strategies. It’s important to understand that risks pertaining to the project can only be handled by the project manager and other stakeholders of the project.
– In the project management Risks, such as operational or business risks will be handled by the relevant teams. The risks that even impact on a project are supplier risk, resource risk and budget risk. Supplier risk would also refers the risks that can be also occur in case the supplier is not meeting in the timeline to supply the resources required.
– Resources risk occurs when the human resource used in the project is not enough or not only skilled enough. Budget risk would refer to risks that can be occur if the costs are more than what was budgeted.

Why we need training for Project Planning?

– Project planning documents are also used in many companies, particularly for team projects. An example of a project planning document is a team charter, which outlines the goals & responsibilities and organizational rules of the team. Another example is an issue tree which helps you to break down the major questions facing a project team and the sub-questions that impact the major issues. While some of the organizations rarely used project planning documents, others use of them with virtually every project.
– Project planning documents are a very good way to focus the team or organization on the key elements of a task by forcing the group to sit down and plan out the project on paper. As an issue tree in particular is very beneficial in this respect as it helps to the group understand from a very early stages what type of questions they need to answer and what type of work will likely need to be done.
– A team charter often contains conflict resolution provisions such as how to deal with a team member who is not pulling her weight or how to resolve disagreements on how to tackle a particular element of the project. When conflict arise, then team can look back at their charter, which they all should have agreed to and signed, to use their own prior judgment to solve many disputes.
– Many projects run out of the resources before completion. Resources includes both labor & finances. Planning requires the team to consider that what resources it needs to finish that project and eliminate the potential of suspend the project for lack of the resources.
– Many projects experiences problems at different times before the project completes. These includes losing employees, missing deadlines or running out of funds. By planning the project, the team can practically address problems, reducing their impact on the project.

Target Audience for Project Risk Management –

– Project Manager
– Risk Managers
– Contract Managers
– Project Leaders
– Business owner