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How to Identify and Manage Critical Project Risks

Recording Date: July 20, 2011
Price: Free


Attending this Webcast is free. Registration is required.
Sign-up for your Free MyAMA account now or call 1-800-262-9699.

Overview

Optimizing Your Risk Management Effort

One ongoing project management debate concerns whether risks can really be “managed” at all.  Assuming that project business risk can be managed, should it be, and if so, when? 

In this Webcast you’ll discover ways to understand when it’s a good idea to manage a risk and when it may not be.

It’s obvious that doing something about a risk that actually occurs makes sense.

Doing nothing for a risk that does not happen is also sensible (or perhaps just lucky).  However, some risk management we undertake will ultimately prove to be unnecessary and some risks we choose to accept may lead to disaster. 

As with any analysis, errors in risk assessment are of two types: “Type 1,” (false positive) errors, and “Type 2,” (false negative) errors.  In the context of project risk management, Type 1 errors are the risks we choose to manage unnecessarily.  Type 2 errors are the risks we ignore that then happen. 

Project managers must use qualitative and quantitative assessment techniques to rank order risks, and then work out responses to deal with the ones that warrant the effort.

To improve the effectiveness of your efforts, you must carefully consider each identified project risk in terms of history and impact, and particularly in consideration with your tolerance for consequences. 

What You Will Learn

  • How to identify key criteria to use in determining which risks to manage
  • Tips for determining when it is prudent to manage what appear to be mid-range severity risks
  • Advice for justifying project schedule and budget reserves for use in dealing with risks lacking explicit risk responses

While attending this program is FREE, reservations are required.

About the Presenters

Tom Kendrick, PMP, is Program Director for the University of California Berkeley Extension Project Management curriculum.  He is author of Identifying and Managing Project Risk, Project Management Tool Kit, and 101 Project Management Problems and How to Solve Them. He regularly conducts classes and presentations on program, project, and risk management for conferences, associations, and universities.  He also spent over 20 years with Hewlett Packard in its Project Management Initiative and has almost 40 years of worldwide PM experience, including work for Visa, DuPont, General Electric, and as an independent consultant.

 

Technical Requirements

To fully participate in this electronic, interactive and live session, please check your system (or ask your IT department) to ensure it meets the following requirements:

Supported OS, Browser and Additional Requirements

Microsoft® Windows® 98 SE, 2000, XP, Windows VistaTM Home Basic, Home Premium, Ultimate, Business, or Enterprise (32-bit or 64-bit editions)

  • Internet Explorer 5.0 or higher
  • Netscape Navigator 7.1
  • AOL 9
  • Mozilla Firefox 1.5 or higher

Macintosh (OS X 10.2, 10.3, 10.4)

  • Safari 1.1 or higher
  • Mozilla Firefox 1.5 or higher

Linux

  • Mozilla Firefox 1.5 or higher

Solaris

  • Mozilla 1.7 or higher

Additional Requirements:

  • Macromedia Flash Player 8 or higher
  • Macromedia Flash Player 9 or higher for Linux and Solaris
  • Minimum bandwidth requirement is 56 kb/sec

Important tip - Please allow 15 minutes prior to joining a session to conduct your set-up and testing! Dial-up connectors - please allow more time.