Project Risk Management

This course will be covering all about the risk management process starting from the planning, identifying your risks and categorizing your risks in your project and the techniques for identifying risks in risk management. This course will cover the two analysis processes in risk management qualitative and quantitative analysis.

In qualitative we will learn about how to determine your risk score or risk index by using probability and the impact of each risk so that we could grade them on the risk matrix scale to see which risks require a response. We will also cover the quantitative risk analysis process to further analyze the risks that have moved forward. We will look at sensitivity analysis to know about the tornado diagram. Schedule and cost uncertainty will be covered and we’ll talk about triangular distribution and beta distribution.

We will learn how Monte Carlo simulation uses all this information to estimate the possible outcomes of an uncertain event. You’ll learn about the distribution graph and the distribution analyzer and how to read your project outcomes from these graphs. We will then cover planning risk responses to all your risks and how to monitor and control them and what should your outcomes after doing risk management be.