Module 1: Introduction to Project Risk Management
What is Project Risk?
Importance and Benefits of Effective Risk Management
Key Concepts: Risk vs. Issue, Opportunity vs. Threat
Risk Management in the Project Life Cycle
Overview of PMBOK® Guide Risk Management Processes
Defining Risk Appetite and Risk Tolerance

Module 2: Plan Risk Management
Purpose and Inputs of the Plan Risk Management Process
Developing a Risk Management Plan (Components and Contents)
Establishing Roles and Responsibilities for Risk Management
Defining Risk Categories and Risk Breakdown Structure (RBS)
Setting up Probability and Impact Scales

Module 3: Identify Risks - Techniques and Tools
Purpose and Importance of Risk Identification
Brainstorming and Delphi Technique
Interviewing and Root Cause Analysis
Checklist Analysis and Assumption Analysis
SWOT Analysis
Documentation Review
Facilitated Workshops
Introduction to the Risk Register

Module 4: Practical Application: Risk Identification Workshop
Group Exercise: Identifying risks for a sample project scenario
Populating initial risk registers
Discussion and feedback on identified risks

Module 5: Perform Qualitative Risk Analysis
Purpose and Benefits of Qualitative Analysis
Techniques: Probability and Impact Assessment
Risk Data Quality Assessment
Risk Urgency Assessment
Risk Categorization
Developing a Risk Matrix (Probability-Impact Matrix)
Prioritizing Risks for Further Analysis and Response

Module 6: Practical Application: Qualitative Risk Analysis
Group Exercise: Applying qualitative analysis to identified risks
Updating the risk register with probability, impact, and risk score
Prioritizing risks based on qualitative assessment

Module 7: Introduction to Quantitative Risk Analysis
When and Why to Perform Quantitative Analysis
Difference between Qualitative and Quantitative Analysis
Inputs and Tools for Quantitative Analysis
Expected Monetary Value (EMV) Analysis
Decision Tree Analysis
Sensitivity Analysis (Tornado Diagram)
Monte Carlo Simulation (Conceptual Understanding and Benefits)

Module 8: Practical Application: Basic Quantitative Techniques
Case Study/Exercises: Calculating EMV and basic decision tree analysis
Interpreting quantitative results

Module 9: Plan Risk Responses - Strategies for Threats
Purpose and Importance of Risk Response Planning
Strategies for Negative Risks (Threats):
Avoid: Eliminating the threat
Mitigate: Reducing probability or impact
Transfer: Shifting risk to a third party (e.g., insurance)
Escalate: For risks outside project manager's authority
Accept: Passive and Active Acceptance (Contingency Plans, Fallback Plans)
Developing Contingency Reserves and Management Reserves

Module 10: Plan Risk Responses - Strategies for Opportunities
Strategies for Positive Risks (Opportunities):
Exploit: Maximizing the opportunity
Enhance: Increasing probability or impact
Share: Partnering with a third party
Escalate: For opportunities outside project manager's authority
Accept: Passive and Active Acceptance

Module 11: Developing Risk Response Plans
Elements of a Risk Response Plan (What, Who, When, How)
Integrating Risk Responses into Project Plans (Schedule, Cost, Resources)
Secondary Risks and Residual Risks
Building a Risk Response Register

Module 12: Practical Application: Risk Response Planning Workshop
Group Exercise: Developing specific risk response plans for the identified and analyzed risks from Day 2
Presenting and critiquing proposed response strategies
Updating the risk register with response plans

Module 13: Implement Risk Responses
Executing the agreed-upon risk response plans
Integration with project management processes
Effective communication during implementation

Module 14: Monitor Risks
Purpose and Importance of Risk Monitoring
Techniques: Risk Audits, Risk Reviews, Variance and Trend Analysis
Technical Performance Measurement
Reserve Analysis
Tracking identified risks and their triggers
Identifying new risks (re-identification)

Module 15: Control Risks and Lessons Learned
Managing Risk Triggers and Contingency Actions
Updating the Risk Register and Risk Management Plan
Change Requests related to Risk Events
Measuring Effectiveness of Risk Responses
Risk Reporting and Communication
Conducting Risk Management Performance Reviews
Capturing Lessons Learned from Risk Management Activities

Module 16: Course Review, Q&A, and Certification
Recap of Key Concepts and Processes
Open Forum for Questions and Discussion
Best Practices in Project Risk Management
Developing a Personal Action Plan for applying learned skills