Risk management is a concept that can be implemented in a number of ways. All good risk management approaches have the following characteristics: (1) There is a planned and documented risk management process for the project or program; (2) The process is based on a prospective assessment – the project management team looks ahead to find and manage possible problems; (3) The initial assessment is periodically redone to validate the initial findings and to uncover new problem areas; (4) The program has a defined set of evaluation criteria that covers all facets of the program; and (5) The on-going results of the risk management process are formally documented.

This course covers all aspects of risk management – risk identification – risk assessment – risk handling – and risk communication. A series of qualitative and quantitative tools are explained and illustrated with examples and workshop exercises. The emphasis is on developing usable processes and tools that can be immediately put to work by all members of a project management team.