Risk management is a key function in project management. Project managers should be able to apply a variety of risk-management tools in their work, including performing risk identification, quantification, response, monitoring, and control.
In this course from Professor and Director of Civil and Environmental Engineering Linda K. Nozick, you will examine the nature and types of project risk and learn to apply specific mitigation strategies.
You’ll have an opportunity to analyze a past project you’ve worked on and assess what the risks might have been and why. Then you’ll analyze the outcomes: Did the known risks come to fruition? What were the leading indicators? What could they have done for contingency planning at the beginning? By asking these questions, you’ll then be able to perform several calculations to compute the probability that a project will finish on time.The courses Organizing the Project and Its Components and Planning and Managing Resources are required to be completed prior to starting this course.
Faculty AuthorLinda K. Nozick, Professor and Director of Civil and Environmental Engineering, College of Engineering, Cornell University
Benefits to the Learner
- Define project risks and the iterative process for the identification of evolving risks
- Employ practical tools to assess the likelihood and probable consequences of risks
- Evaluate possible responses and mitigations
- Apply strategies to mitigate risk
Target AudienceStudents may be team leaders, managers, and individual contributors from any functional area who are responsible for the success of projects or initiatives of any size and do not have formal project management training. Students will come from every continent and from a diverse range of organizations, including for profits large and small, NGOs, and governmental agencies. Students will be most successful if they have had exposure to formal project management efforts within their organizations. Some familiarity with standard project-management tools will be helpful.
- Project Management Institute (PMI) Approval Number 2646-CEPM503 10.0 Units
- HR Certification Institute (HRCI) General Units Approval Number ORG-PROGRAM-372438 10.0 Hours
- Society for Human Resource Management (SHRM) Approval Number 19-D6S9Z 10.0 Credits