Day 1:
Foundations of Risk Management
Overview of risk management principles and frameworks (e.g., PMBOK, ISO 31000).
Types of risks: Threats vs. opportunities.
Role of leadership in fostering a risk-aware culture.
Introduction to risk identification techniques.
Day 2:
Risk Assessment Methodologies
Qualitative risk analysis: Probability and impact matrices.
Quantitative risk analysis: Monte Carlo simulations and decision trees.
Tools for prioritizing risks based on severity and likelihood.
Group activity: Case study analysis of a failed project due to poor risk assessment.
Day 3:
Risk Response Strategies
Developing mitigation, transfer, avoidance, and acceptance plans.
Creating contingency reserves and fallback plans.
Integrating risk responses into project schedules and budgets.
Workshop: Designing a risk response strategy for a hypothetical scenario.
Day 4:
Monitoring and Reporting Risks
Setting up key risk indicators (KRIs) and early warning systems.
Tools for tracking risks: Dashboards and software solutions.
Communicating risks to stakeholders effectively.
Real-world example: Lessons from NASA’s risk reporting mechanisms.
Day 5:
Emerging Trends and Best Practices
The role of AI and machine learning in predictive risk analytics.
Managing sustainability and ESG-related risks.
Compliance with global risk management standards.
Final group presentation: Applying course concepts to a chosen case study.
