Project Risk Response Planning (PMBOK 2000)

Overview/Description
 Helmuth von Moltke gave sound advice when he stated, "First weigh the considerations, then take the risks." Risk response planning is about doing just that. Project team members need to make decisions that will enhance opportunities and reduce threats to their project's objectives. Risk response planning is useful for this purpose because it is a process that ensures that risks are properly identified and addressed. To yield an accurate measurement of the level of risks associated with a project, risk response planning must be done effectively. This course will teach you how to use the tools and techniques for risk response planning and integrate inputs from qualitative and quantitative risk analyses into an effective risk response plan. It will also provide you with the skills to identify risk thresholds and risk owners. Equipped with this valuable knowledge, you will be better able to consider the risks that your project may encounter and plan ahead to maximize the chances for project success. This course is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK ® Guide) 2000 Edition, published by the Project Management Institute (PMI ®).

Target Audience
 This series is specifically targeted at 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
6.5 hours

Lesson Objectives:

Inputs to Risk Response Planning

  • recognize the benefits of understanding the inputs to risk response planning.
  • identify the qualitative and quantitative risk analysis outputs used in risk response planning.
  • identify examples of potential responses for an identified risk.
  • identify examples of the components from the risk management plan that will be used in risk response planning.
  • identify examples of common risk causes.

    • Tools & Techniques for Risk Response Planning

  • recognize the benefits of understanding the tools and techniques for risk response planning.
  • match types of project risks to examples.
  • determine if a project risk should be avoided for a given scenario.
  • match transference methods to examples.
  • choose the best method to transfer risk for a given situation.
  • match mitigation strategies to examples.
  • determine the mitigation strategy used, based on the action taken in a given scenario.
  • identify examples of the components that should be included in an effective contingency plan.
  • determine if a contingency plan effectively prepares a company to accept a given risk.

    • Outputs from Risk Response Planning

  • recognize the benefits of understanding the outputs from risk response planning.
  • identify examples of the questions that should be asked when determining the appropriate risk response for an identified project risk.
  • determine the appropriate risk response for a given project risk.
  • identify examples of other risk response planning outputs.

    • Course Number: PROJ0494