This course introduces the student to the basic techniques of determining and managing project risk. Areas covered include Risk Identification and Quantification, Cure Strategies, and Decision Tree Creation.

Section 1: Definitions. This section introduces the student to common terminology used when discussing risks, risk environments, and types of risks.

Section 2: Identification of Risks. This section discusses when to address risks, where to address risks, and what typically causes risk.

Section 3: Quantification of Risk. This section introduces methods that determine the risk impact to Cost, Performance and Schedule.

Section 4: Cure Strategies for Risk. This section highlights standard risks faced by project teams and offers discussion of alternatives to eliminate risks.

Section 5: Creating the Decision Tree. This section introduces the Decision Tree and the process decision tree development. A class exercise is provided to reinforce the development process.

Section 6: Recognizing Risk. This section provides tips and a discussion of standard project management tools that can be used to identify risk.

Section 7: Deciding What To Do. This sections looks at the available alternatives to mitigate the impact of identified risks.

Section 8: Summary. This section provides a brief review of the full Risk Management Process.