Project Risk Management Training

Project Risk Management Training

Better manage project risk from start to finish

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“We turned to LSA Global’s project risk management training to help us take our project risk management practices to the next level.

As we continue to grow and our projects are increasing significantly in complexity, it is imperative that we incorporate risk management best practices deeper into our delivery and project management methodologies to continue to increase productivity, efficiency, and client satisfaction.

I am really happy with the results and would recommend LSA to anyone looking to take project risk management to the next level.”
Scott Wassmer | US Director of Production | AKQA

Improve business decisions and project performance with this proven Project Risk Management Training course.

“Failure to actively manage project risk” is one of the most frequently cited causes of project failure. This course on managing project risks enables project managers to systematically manage the uncertainty inherent in every project to minimize the threats without crippling the opportunities.

It’s a fine balance that the best project managers know how to achieve.

Participants learn a step-by-step process to identify and respond to project risks that occur throughout the project life cycle, from the initial business case through implementation. They also learn to establish specific project budgets to account for both known and unknown project risks.


  • Improve the bottom line with more accurate cost and schedule estimates
  • Use past successes and pitfalls to improve future performance
  • Recognize and avoid project problems before they occur
  • Build executive support for your project through accurate, meaningful reporting
  • Learn to energize your team members by involving them in risk management activities
  • Understand the power and availability of risk management software tools

Course Objectives
Upon completion of this course, participants will be able to:

  • Understand the components of a project’s business case
  • Identify project-related risks and develop appropriate response plans
  • Prioritize risks based on probability, impact and expected value
  • Use analysis techniques to lead groups of people through risk management activities
  • Develop contingency budgets to account for known project risks
  • Use Earned Value Management techniques to quantify cost and schedule progress during a project

Course Outline

1. Introduction to Risk Management

  • Known project risks vs. unknown project risks
  • Project management and risk management
  • Risk management within project management functions
  • Risk management throughout the project life cycle
  • The project manager’s “place at the table”
  • Project life cycle vs. product development life cycle
  • Risk tolerance Risks: Opportunities and threats

2. Managing the Project Business Case

  • The purpose of a project business case
  • Project SWOT: Strengths, Weaknesses, Opportunities and Threats
  • Elements of a project business case
  • Financial concepts for project managers
  • Performance budget, project target cost and project contract price
  • Project business case vs. project statement of work (SOW)
  • Phased gate development and business case reviews

3. Project Risk Identification

  • Sources and inputs to project risk identification
  • Project planning fundamentals
  • Project schedule heuristics: Coordination risk and levels of control
  • Project team analytical tools
  • Building a project risk profile
  • Documenting the project risk
  • Initial project prioritization
  • Project risk identification and response development: An iterative process

4. Project Risk Analysis

  • The project risk management process
  • Refining the project risk statement
  • Project root cause analysis
  • Probability
  • Expected value
  • Decision trees
  • What to do when you can’t get good project estimates
  • Project cost, project schedule, project quality and project risk
  • PERT schedule analysis
  • Schedule probability
  • Monte Carlo simulation

5. Developing a Project Risk Management Plan

  • Prioritizing project risks
  • Selecting a project risk strategy
  • Elements of the project risk management plan
  • The project risk log
  • Strategy integration matrix
  • Project risk summary reports
  • Negotiating the project contingency and project reserve
  • Appointing a project risk officer

6. Continuous Project Risk Management

  • Earned value management
  • Escalation thresholds
  • Cash flow considerations
  • Executing the risk management plan
  • Updating status at regular intervals
  • Business case review
  • Project close out

7. Success Factors in Risk Management

  • High reliability organizations

Target Audience:
Senior project managers and leaders others who have experience running projects and want to better anticipate and mitigate project risk

To speak with an LSA Expert and learn about training program customization and delivery options onsite at your company, please contact us.

Related Information

LSA’s Project Management facilitator is one of the best I have ever worked with. His efforts and work in teaching complex and intensive Project Management principles across all levels and backgrounds within our organization have been of the highest value.

Leslie Guzman
Learning and Development


Thanks for a great and valuable session. The Project Management expertise and methodology that you brought to the table was perfectly targeted to our needs and our company. You definitely helped us launch an important step in driving best practice company standards around project management. I highly recommend this workshop to anyone looking to improve project management skills and methodologies.

Bill Thayer
VP Field Operations


LSA’s Customized Project Management workshop exceeded our expectations. The facilitator was a true expert in both the content and our industry. They really understood our priorities and helped us learn not only the best practices in Project Management, but how to apply them to our specific environment. I would highly recommend them to anyone looking to create the foundation for successful projects and project teams.

Dave Musolf
Director Program Management


The project management training program was fantastic. It could not have gone any better.  It was extremely helpful to me as a manager to be strategic during a time of explosive growth and change. It was fully customized to our industry and our needs, everyone came out of it with a solid direction of next steps.  We are excited to take the next steps with LSA Global and to implement the project management best practices in a way that works for our unique culture.

Karen M. Inzilla
Director, Sales Operations

Blackhawk Network

We turned to LSA Global to help us take our project risk management practices to the next level. As we continue to grow and our projects are increasing significantly in complexity, it is imperative that we incorporate risk management best practices deeper into our Delivery and Project Management methodologies to continue to increase productivity, efficiency, and client satisfaction. I am really happy with the results and would recommend LSA to anyone looking to take project risk management to the next level.

Scott Wassmer
US Director of Production


LSA’s ability to do an effective project postmortem and then help us to use those insights to define and plan our next strategic project were invaluable.  Their practical approach and built-for-purpose project kickoff and definition methodology have definitely taken our project definition, project planning, and project management skills to the next level.

I bet they helped us to move 4 times faster than we would have without their help.

Elizabeth Smith, PMP
Senior Project & Portfolio Manager

LSA Global Applegate Consumer Product Client

We have found LSA to be highly responsive to meeting our unique project management training program needs. Their passion for high levels of customer satisfaction and quality align very closely with our core values.  

Kudos to LSA Global for the program that they provided my team. It was exactly what I wanted, and your team did a great job of engaging our group and providing the solid Project Management skills that we need.

Laura McHugh


We recently designed and implemented two high value Project Management Workshops with LSA. The goal was to improve the fundamental project management skills for less experienced project managers and team members and to prepare our experienced project managers to become PMP certified. The programs were very well received and additional sessions have been requested. Both facilitators were excellent, building strong rapport with our scientists and taking time to encourage & answer questions. Based upon the results and the feedback around the company, the next workshops are already full. I highly recommend LSA to any company looking to take their project management skills to the next level.

Stacey Porter
Senior Manager Learning & Development


LSA recently designed and delivered a project post mortem for a highly strategic project with a group of 25 team members from engineering, design, marketing, product management, sales, manufacturing, purchasing, business development, research, and finance. The pre-workshop diagnostic, interviews, and experiential session greatly exceeded our expectations.

We were able to honestly and effectively get everything out on the table, agree upon key lessons, and create a targeted action plan that made sense for our unique situation, team, and culture. The whole process made a very complex and potentially political situation a big success. We could not have done the retrospective without LSA.

Eric Vernon
Director of Operations


LSA did a great job. The project management solution was really well done from both a content and approach perspective. Overall a very positive experience that provided a lot of value. They really understood the art and science of project management and the specifics of our industry.

Laxmi Peri
VP Technology & Product Development


We hired LSA to design and deliver a Project Post Mortem for sixty five key people on a mission critical project with a very tight turnaround. LSA’s ability to identify the key trends, leverage points, and next steps was remarkable.

They really got to the heart of the issues in a constructive and unbiased manner that exceeded our expectations.

It was not an easy task with so many skeptical people with different agendas, styles, experience, and perspectives.  But they nailed it.  Thank you!

Darrell Gallagher
Head of Studio

Crystal Dynamics

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