Project Risk Management Training that Works

“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

Description
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 use their own projects to identify threats and develop response plans. They 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.

Benefits

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:

Recognize their own risk tolerance in comparison with that of others and how a structured risk management process best reflects the risk tolerance of the company.
Use risk management techniques to identify risks and create appropriate response plans.
Develop a risk profile with common company-specific risks to use as a risk identification tool.
Prioritize risks based on probability, impact, and expected value.
Develop contingency budgets to account for known project risks.
Plan for risk management throughout the life of a project.

Course Outline

1. Introduction to Risk Management

Activity: Risk Management in Everyday Life
Known vs Unknown Risks
Risk Management Throughout the Project
The Risk Management Process
Risk Tolerance

2. Project Risk Identification

Sources of Project Risk Identification
Activity: Engaging the Project Team and Other Key Stakeholders
Tips: Brainstorming, Brainwriting, and Affinity Diagrams
Activity: Risk Management in Everyday Life
Project Risk Categories and Risk Profiles
Activity: Common Sources of Risk in Your Projects
Activity: Identify Your Top Project Risks
Activity: Finding Opportunities in Your Projects

3. Project Risk Analysis: Analyze & Prioritize

Initial Prioritization
Activity: Use a Prioritization Matrix to Rank Known Risks for Your Projects
Describe a Risk
Activity: Describe a High Priority Project Risk
Using Probability and Impact to Calculate the Expected Value
Activity: Refine the Project Risk Description
Establish Risk Impact Scale for Your Project
Refining a Subject Risk Assessment

4. Developing a Project Risk Management Plan

Five Standard Responses
Activity: Develop a Response
The Risk Register
Risk Analysis Affects the Project Budget

5. Continuous Project Risk Management

Key Risk Identification Milestones
Disciplined Risk Monitoring

6. 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

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

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

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 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

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

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

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
Director

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

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