Show as: Mobile

Risk Management Essentials for the Project Manager

Knowledge Source Inc
Training overview
2 days
Next start date: Customized Onsite Training - United States of America
Classroom / Public

Risk Management Essentials for the Project Manager

Risk Management Essentials for the Project Manager

This 2-day classroom course will show participants how succeeding at risk management is not just dependent on good risk management methods and disciplines, but full integration with the other project management processes. The program will particularly emphasize on project / risk communications and the participation of all the stakeholders.

This course can also be offered as on-site training by KSI anywhere across North America.

Course Credits

Recommended CPEs: 16

PDUs/PDHs: 16


The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.

Who should attend?

This program is ideal for:

  • Managers of project managers
  • Project managers
  • Project team members
  • Risk team members who want to master the essential elements of effective risk management
  • Project teams about to begin risk management planning on a small to medium sized project and looking forward to get a fast start on Risk planning and management

The course assumes familiarity with project management concepts and experience in project management methods and disciplines or PMP® Certification. At a minimum, participants of this course should attend Project Management Fundamentals and Best Practices or have equivalent knowledge.

Training Content

The course covers the following topics:

Integrating Project and Risk Planning

  • Cost / benefit of project risk management
  • Stakeholder identification and participation
  • Finding the level of risk management that reflects the needs of the project

Communication (Risk and Project) Success

  • Risk Attitude and Risk Appetite
  • Engaging your team and other stakeholders
  • Creating an environment in which stakeholders want to talk to you.

Risk Identification

  • Risk Register
  • Scenario Analysis
  • Nominal Group Technique
  • Risk Interview Techniques
  • Risk Identification Workshops

Qualitative Risk Analysis Techniques

  • Selecting the best Probability and Impact Matrix for your project
  • Defining the Probability and Impact Matrix scales
  • Identifying Risk Drivers associated with the Probability and impact of your risks

Quantitative Risk Analysis Techniques

  • Expected monetary value analysis
  • Decision Tree Analysis
  • Probability distributions
  • Modeling and simulation (Monte Carlo) with hands on application of Full Monte Schedule and Cost Analysis Software.
  • Analyze your project schedule and budget in class

Planning Effective Risk Response Actions

  • Develop SMART Risk Response Actions that can be implemented, monitored and controlled through project completion.
  • Use of Risk Drivers to establish effective risk response actions.
  • Risk Urgency can cut your cost and reduce your risk

Monitoring and Controlling the Project and Risks

  • Routine monitoring for presence of new risks, risk triggers, and obsolete risks.
  • Utilize Earned Value Analysis and Earned Schedule Analysis to monitor and control project risks.
  • Regular Risk Reanalysis increases the team awareness of risk

Real Time Risk Simulator

  • A fun/interactive game that engages the attendees in a simulation of real life risk management, while learning how risk, cost and schedule affect each other. Plotting earned value as the game proceeds provides the attendees with the information needed to determine if their project is headed for success or failure.


The cost of this workshop is 795 USD.

Provider: Knowledge Source Inc

Knowledge Sources Inc

Knowledge Source Inc - Registered Education with PMI and SHRM Re-certification Provider

Founded in 1993, Knowledge Source Inc. is a North Carolina-based specialist training provider. They are a Registered Education Provider (R.E.P.) with the Project Management Institute and a SHRM Recertification Provider for the Society for Human Resource Management. KSI offers classroom...

Read more and show all training delivered by this supplier

Request information - obligation free

Fill out your details to find out more about Risk Management Essentials for the Project Manager.

  Contact the provider

  Get more information

  Register your interest

Contact Knowledge Source Inc

Knowledge Source Inc

Course reviews

P. Wheatley
Learned methods for identifying new risks. I plan to use these methods during month risk register reviews.
R. Carbaugh
Sharpened my knowledge is risk management principles
Project Manager
Titanic story was a great example of applying risk to practical applications!
Request Information

Have a question about this course? Fill out this form and the provider will get in touch with you shortly

Training reviews
Course rating
Based on 22 reviews

Need help with your search? offers a free consultancy service to help compare training for you and your team

Request a free quote

Request a free training quote