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pptx, 1.72 MB
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pdf, 772.64 KB
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docx, 18.43 KB
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pdf, 1.47 MB
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Welcome to Lesson 7 on Managing Risk in Project Management, a crucial aspect that determines the success or failure of any project. In this lesson, we will embark on a journey to understand the multifaceted nature of risk management, its significance in project management, and the strategies and tools necessary to mitigate risks effectively.

Risk management is an integral part of project management, involving identifying, analyzing, and responding to project risks. It encompasses coordinating and applying resources to minimize, monitor, and control the probability and impact of unforeseen events or maximize the realization of opportunities. As projects become more complex and environments more uncertain, managing risk effectively becomes increasingly essential for project managers and their teams.

Throughout this lesson, we will cover the following key areas:

  1. Describe the risk management process.
  2. Understand how to identify project risks.
  3. Assess the significance of different project risks.
  4. Describe the five responses to managing risks.
  5. Understand the role contingency plans play in the risk management
    process.
  6. Understand opportunity management and describe the five approaches to responding to opportunities in a project.
  7. Understand how contingency funds and time buffers are used to
    manage risks on a project.
  8. Recognize the need for risk management as an ongoing activity.
  9. Describe the change control process.

By the end of this lesson, you will have a comprehensive understanding of risk management in project management, equipped with the tools and strategies needed to navigate the uncertainties of any project. Whether you are a seasoned project manager or new to the field, mastering risk management is key to steering your projects towards success while minimizing potential pitfalls.

This is a comprehensive lesson plan for about 1.5 hours includes a well-prepared PowerPoint presentation, interactive exercises, in-depth case studies, and associated reading materials, designed to provide a holistic learning experience.

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Foundations of Project Management Whole Course Complete Lesson 1-12

Welcome to Project Management. Project management is both people and technical oriented. Project management involves understanding the cause-effect relationships and interactions among the sociotechnical dimensions of projects. Improved competency in these dimensions will greatly enhance your competitive edge as a project manager. The field of project management is growing in importance and at an exponential rate. It is nearly impossible to imagine a future management career that does not include management of projects. Résumés of managers will soon be primarily a description of the individual’s participation in and contributions to projects. Good luck on your journey through the text and on your future projects This lecture series is based on Erik W. Larson and Clifford F. Gray’s Book“Project Management: The Managerial Process”. The chapters are: Chapter 1 Modern Project Management Chapter 2 Organization Strategy and Project Selection Chapter 3 Organization: Structure and Culture Chapter 4 Defining the Project Chapter 5 Estimating Times and Costs Chapter 6 Developing a Project Plan Chapter 7 Managing Risk Chapter 8 Scheduling resources and cost Chapter 9 Reducing Project Duration Chapter 10 Leadership Chapter 11 Teams Chapter 12 Outsourcing Chapter 13 Monitoring Progress Chapter 14 Project closure Chapter 15 International Projects Chapter 16 Oversight Chapter 17 Agile PM You will find the content of this text highly practical, relevant, and current. The concepts discussed are relatively simple and intuitive. As you study each chapter we suggest you try to grasp not only how things work, but why things work. You are encouraged to use the text as a handbook as you move through the three levels of competency: I know. I can do. I can adapt to new situations. All lesson materials include detailed lesson plan, for about 1.5 hours, including This is a comprehensive lesson plan for about 1.5 hours includes a well-prepared PowerPoint presentation, with video links, interactive exercises, in-depth case studies, and associated reading materials, designed to provide a holistic learning experience. The Power Point presentations are fully animated with scripts and ready to deliver. They are also videos available to watch. They contain a mixture of topic information, examples, and activities/exercises for each topic in the specification for the learning outcomes. All lessons are suitable for about 1 hour of teaching time in which class exercises and homework are integrated into lessons where appropriate. We wish you all the best for the study, and should you have any further questions, please get in touch.

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