- Duration2 weeks
- Weekly study5 hours
- 100% onlineTry this course for free
- Included in an ExpertTrackCourse 3 of 5
- Get full ExpertTrack access$39/month
Unlocking the Risk Matrix: Project Risk and the Change Management Process
The key to good project management is good risk management – and this short course will tell you everything you need to know about risk and control management.
This objective-led course will equip you with advanced skills in monitoring project performance, identifying risk and addressing and avoiding potential threats to an otherwise-successful outcome.
Explore the qualitative versus quantitative risk analysis and the Probability Impact Matrix
Under guidance from experts at Coventry, you’ll learn the differences between qualitative and quantitative risk analysis (including the Probability and Impact Matrix),as well as how to create a risk-management plan.
You’ll also discover how to manage the treatment of risks and evaluate discrepancies relating to the scope, cost and schedule of a project.
Learn about project control and risk identification
You’ll explore all aspects of risk and control management, from risk identification, categorisation and response to the PRAM (or Project Risk Analysis and Management) process. You’ll learn how to carry out earned value analysis (EVA) and how to use the Probability and Impact Matrix.
Start using Microsoft Project management software
If you’re working with controlling risk, you should also be working with Microsoft Project.
You’ll learn how this software can help you create a schedule, assign resources to tasks, track progress and analyse workloads, before exploring its benefits and challenges in terms of planning, executing and closing a project.
- Chart project progress and performance
- Identify changes to the project baseline
- Change control and configuration management
- Earned value management to monitor and control cost
- Identify risks and opportunities
- Explore the project risk analysis management process
- Identify sources of risk
- Perform qualitative and quantitative risk analyses
- Create a risk management plan
- Consider the roles and responsibilities in risk management
- Examine the organisational structure for risk management
- Establish a risk response plan
- Manage the treatment of risks
What will you achieve?
By the end of the course, you‘ll be able to...
- Evaluate variances as they pertain to project scope, cost, and schedule, and demonstrate how to formally communicate such variances to the stakeholders
- Evaluate the nature of risk and opportunity, and construct a prioritised risk register
- Develop a qualitative risk assessment
- Classify the project risks and construct a prioritised risk register with a risk response plan
Who is the course for?
This ExpertTrack is designed for anyone interested who wants to understand the fundamentals of project management in the context of an organisation.
It will be of particular interest to professionals and individuals interested in project management – especially aspiring project managers, project managers looking to take their career to the next level, and people in other careers such as engineering looking to gain project management skills.
Become an effective project manager and learn how to deliver strategic change and transformation in an organisation.