AdelaideX: Risk Management for Projects

• How the risk management process works as part of a compliance framework
• Use of frameworks to identify, assess and analyse risks in a business context
• Application of appropriate risk responses
• Design and integration strategies for reporting and communicating risks to various stakeholders
• Use of a monitor and review process, and application of risk management as an iterative process

Week 1: The fundamentals of risk management

• Define risk management
• Recognise why it’s important to set the context and objectives for the risk management process
• Recognise why it’s necessary to apply a risk management process in a project, and
• Summarise and classify each step of the risk management process by using the Risk Management Canvas.

Week 2: Risk identification

• Identify risks in achieving objective outcomes
• Identify categories of risk, and
• Select methods to identify risks.

Week 3: Risk assessment

• Recognise the process of undertaking a risk assessment of identified risks
• Select risk controls through risk assessment
• Use a risk matrix to respond to identified risks
• Clarify risks to stakeholders, and
• Use contingencies to deal with risk.

Week 4: Risk response

• Identify methods of treating risk
• Design a Communications Plan to include all stakeholders in the management of identified and assessed risks, and
• Design a Risk Management Plan.

Week 5: Risk monitor and review

• Recognise the importance of a monitor and review process
• Use a monitor and review process
• Integrate a monitor and review process that sets targets
• Obtain and use feedback for continuous improvement, and
• Select steps for continuous improvement.