Project Risk Identification

Overview/Description
 George S. Patton once advised: "Take calculated risks. That is quite different from being rash." Risk is a necessary and inescapable part of our lives. When the unexpected happens, readiness is paramount. With foresight and planning, risks can be managed effectively, and it does not require the ability to predict the future. All projects - new and existing - have risks. How can a project manager identify those risks and make the best of them? Although risks are generally associated with negative results, they may also give rise to opportunities. It is critical to assess all of a project's risks so opportunities are not missed and threats are avoided or their impact on the project lessened. This course will provide you with the tools and techniques to help you identify those risks that may affect a project. It is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK ® Guide), published by the Project Management Institute (PMI ®).

Target Audience
 This series is targeted specifically for project managers, project team members, functional managers with employees assigned to project teams, project stakeholders, any team manager or member interested in project management, executives committed to their organization's growth, managers required to take on new challenges, and top managers with vision.

Expected Duration
2.0 hours

Lesson Objectives:

Inputs to Risk Identification

  • recognize the benefits of using the inputs of risk identification.
  • identify the characteristics of the product description as it applies to risk identification.
  • identify examples of possible risks that can arise from the outputs of the planning processes in other project areas.
  • identify the characteristics of the sources used to gather historical information.

    • Tools and Techniques of Risk Identification

  • recognize the benefits of using tools and techniques for risk identification.
  • identify the necessary information for creating a risk identification checklist.
  • make the necessary decisions for creating a cause-and-effect flowchart.
  • choose the most appropriate interview type for identifying project risks, for a given situation.

    • Outputs from Risk Identification

  • recognize the benefits of using the risk identification outputs.
  • match the five sources of risk categories to corresponding business examples.
  • identify potential risk events to a project.
  • identify risk symptoms for possible risks to a project.

    • Course Number: PROJ0291