Risk Analysis and Planning

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Risk Analysis and Planning
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Introduction

The ability to identify the right solution for an important business problem is an essential skill that all business analysis practitioners need to have. However, the ability to go further, to analyze that solution for potential risks and communicate them to the business is critical. Business leaders often consider the level and types of risk that might materialize with a solution as important criteria when evaluating projects they might want to pursue. Decision makers will look for indications that a solution can be successfully delivered – yet risks are exactly those things that, if unmanaged, could derail a project and send a solution to its untimely demise.

This course will introduce students to an Extended Risk Register which will aid in communications and managing expectations, as well as impact assessment and risk response planning. Additionally a separate Project Risk Assessment template will be shared to help inspire those students and help those who truly don’t know where to start when staring at a “blank canvas”.

Our risk analysis training is designed to help practitioners build strong risk analysis and assessment skills so that they can support the business effectively.  Students will gain knowledge and skills by practicing techniques that will help them effectively identify and assess risks, plan appropriate approaches, and communicate and manage information that should minimize the potential impacts of risk to both the project or the solution overall.

Objectives

  • Risks, risk responses and planning strategies, such as mitigation and contingency plans
  • How different types of solutions may create different but typical types and categories of risk
  • What different approaches and strategies can be taken to effectively plan for and minimize the potential risks that could impact their project or the timeline

Student Profile

This course is designed for business analysts, product owners, project managers, program or portfolio managers or any other business partner or member of the project team involved in communication and risk management in a project. This course may also be appropriate for people who manage these roles.

Prerequisites

There are no prerequisites to attend this course.

Course Materials

Each student will receive a copy of the course documentation prepared by Netmind.

Methodology

Engaging and interactive face-to-face course. Our instructors teach all course materials using the demonstrative method; the participants learn new concepts through exercises and real application practices.

Certification

This course is included in our Business Analysis Certification Program. By attending this course, students earn credit towards the BA Associate and BA Certified certifications, as well as credit towards the Analysis Planning Badge.

Additionally, students will earn 7 credit hours for their attendance.

Accreditation

A certificate of attendance will be issued to students who attend the course for at least 75% of the duration.

Course Outline

  1. Learn the difference between business and project risks
  2. Understanding the problem, positioning the solution for success
  3. Why risk assessment is critical to enabling successful project delivery
  4. Identifying potential risks
    1. Identifying sources of risks
    2. Evaluating projects for different types of risks
    3. Leveraging Essential Process Decomposition to help with risk identification
  5. Learn how to assess the impact of risks and prioritize
    1. The value of role play and imagery in risk assessments
      1. Learn how powerful questions can be, such as “if this occurred…what could happen?”
    2. Assessing the likelihood of a risk occurring
    3. Analyzing the impact a risk could have if it occurred
    4. Identifying the potential timeframe for risk occurrence
    5. Calculating risk ratios and prioritizing risks for effective management
  6. Understand the key risk responses and learn how to identify which is most appropriate
  7. Learn how to create strong yet lean mitigation and contingency plans
    1. Now what? Identifying strategies for effectively handling risks
    2. Developing robust yet lean mitigation or contingency plans
    3. Identifying owners and “drivers” of the risk management plans
    4. Workshop: creating risk management plans
  8. Consider the executive’s perspective when communications are critical for effective collaboration
  9. Learn why proactive risk management and communications are critical for effective collaboration
    1. How to capture and document risks for different audiences
    2. Communicating risks so that the team “hears you”
    3. Reporting and tracking risks for continued project health
    4. Differences between Risk Logs and Issue Logs
  10. Learn strategies for maintaining strong relationships despite critical risk events
    1. Delegating risks to team members for ownership and management
    2. Keeping risk in the forefront of their minds: barriers and insights
    3. When risks become issues: then what?
      1. Transitioning from risk management to issue management while still managing expectations

Public Classes

Currently, we don't have any public sessions of this course scheduled. Please let us know if you are interested in adding a session.

See Public Class Schedule

Course Details

Reference

JJM 525

Duration

1 day

Delivery Mode

Face-to-Face

Certification

BA Certified
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