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Project Risk Management Essentials – Session 3

Objectives:

•Understand and apply project risk management methodology.
•Understand Project Manager’s role in risk management.
•Identify and employ inputs, tools, processes and outputs to plan risk responses, develop project risk management plans, control and monitor project risks and process organizational assets
•Apply best practices, industry standard techniques and customizable templates to plan risk responses, develop project risk management plans, control and monitor project risks and process organizational assets.

Topics:

•Risk Response Planning
•Risk Management Plan
•Risk Monitoring and Controlling
•Updating Project Documents
•Processing Organizational Assets

References:

Recommended Course Materials:
The PMBOK® Guide, 4th Ed. 2008, by PMI*
The Fast Forward MBA in Project Management, 3rd Ed. 2008, by Eric Verzuh

Homework:

•Practice – What you have learned in class.
•Review – The reading assignments and slides.

* “PMI”, “PMBOK”, “CAPM” and “PMP” are registered marks of the Project Management Institute, Inc.

**The Verzuh templates are only available to those who purchase “Fast Forward MBA In Project Management – 3rd edition.

Additional Resources:

Egeland, B.  (2011). Effective Risk Management. http://www.gantthead.com/content/articles/259229.cfm

Hillson, D. (2009).  A Little Risk is a Good Thing. http://www.risk-doctor.com/pdf-files/dec09.pdf

Kendrick, T. (2005). Defining and Implementing Metrics for Project Risk Reduction. http://www.failureproofprojects.com/metrics2005.pdf

Project Management Institute, Inc. (PMI) (2009). Practice Standard for Project Risk Management.  PMI Publications, Newtown Square: PA.

Templates:

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