Washington University in St. Louis
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PMM400: Taking the Risk out of Project Management (12 hrs)

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Course summary:

Managing risks is critical to the success of any project. In this course, you will learn how to plan, identify, analyze, monitor, control and respond to risks throughout the project life cycle. You will gain mastery over risk tools such as risk assessments, contingency analysis and decision analysis, as well as the ability to accurately document, communicate and manage risks. By the end of the course, you will have developed the skills to devise proactive and effective threat avoidance, mitigation, transference and acceptance plans, and be better equipped to address common scope, schedule, quality, cost and safety risks that can impact project outcomes.

Course outline:
  • Application of risk assessments
  • Contingency analysis
  • Decision Analysis
  • Risk data accuracy
  • Risk tools
  • Threat responses of avoid, accept, mitigate, transfer
  • Opportunity responses of exploit, enhance, accept, share
Learning outcomes:
  • Understand how to develop and control contingency and management reserves to improve project cost, schedule and quality estimates and forecasts.
  • Understand risk management overview and concepts and apply them.
  • Understand the functions and roles of project managers, sponsors and team members in addressing project risk.
  • Learn to create risk response plans to minimize threats and leverage opportunities.
  • Identify proactive risk triggers indicative of pending risk event occurrence.
  • Develop skills to identify key threats and often overlooked opportunities.
  • Learn techniques to obtain and properly analyze risk data.
  • Identify risk outcomes across occupations, including human resources, technical, finance, procurement, legal and more.

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Prerequisites:
PMM400 (Taking the Risk out of Risk Management) is ideal for those currently working or who hope to work as project, program and portfolio managers. Those who work in information systems, technology, cyber security, healthcare, manufacturing, engineering, military, finance and other industries will gain key performance skills.
Have questions?
Contact us if you would like to speak with a program director or visit our Frequently Asked Questions page.