Course Description

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Risk Analysis & Management (679)

Credits: 3

  

All projects and programs pose the risk that they will not be completed according to cost, schedule, and performance objectives, and not achieve the anticipated rewards. So Course 679 teaches you how to predict the probability of undesirable events and weigh the consequences of their occurrence. All good risk management approaches have five characteristics and this course covers all of them in detail: (1) planning and documenting risk-management processes for the project or program; (2) prospective assessment of possible problems and opportunities; (3) periodic review of the initial assessment to validate original findings and to uncover new problems; (4) definition of evaluation criteria covering all facets of the program; and (5) documentation of on-going results of the risk-management process.

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Subjects covered include:

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Increase Your Understanding of

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• Cultural attitudes about risk
• Qualitative and quantitative analytical methods
• Cost-Schedule-Technical-Risk analysis

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Improve Your Ability to

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• Gather the relevant information for risk analysis
• Use software for risk analysis
• Managing and transferring risk

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Texts:  Identifying and Managing Project Risk, Tom Kendrick, Amacom

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Risk Management: Tricks of the Trade for Project Managers, Rita Mulcahy, PMP, RMC Publications, Inc.