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Project risk engineering Scope
Competencies
- Achieving results
- Optimising resources
- Risk management
Target audience
- Managers, engineers or scientists with budgetary and organizational responsibilities in a project.
Prerequisite
- Prior education in project engineering or professional exposure to project management.
Objectives
- To become familiar with the processes aimed at identifying, analysing and responding to project risks.
Duration
Features
- Terminology used in this course complies with PM BoK (Project Management Body of Knowledge published by Project Management Institute).
- Methodologies presented in this course conform with large project (ESA, NASA, DoD, DoE).
- Practices presented in this course are consistent with PRINCE2 (Projects IN Controled Environments) published by the OGC (Office of Government Commerce).
Contents
Project risks characterized
- Qualitatively: identification of undesirable events supposed not to occur.
- Quantitatively: potential over-cost multiplied by probability of occurrence.
Project Failure Mode Effect Analysis (FMEA)
- Project baseline plan failure mode analysis, and identification of severity of prospective failures.
- Engineering failure severity using Ishikawa methodologies.
Risk analysis
- Identification and prioritisation of risks before determining adequate strategies: acceptance, avoidance, mitigation or transfer.
- Stakeholders requirements and related preventive or contingency mitigation.
- Negotiation for "who takes the risk"; subsequent determination of contingency and risk budgets.
- Application in large projects.
Risk management
- Monitoring risk factors.
- Triggering contingency plans or emergency action planning.
- Re-estimating periodically financial risk exposure and consolidation.
- Management of assumptions to document request for budget extension.
Download project risk engineering brochure
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