Project Risk and Cost Analysis

Risk and uncertainty are inherent in all projects, particularly in the most complex of industries. The resulting costs that accompany these risks can increase the overall cost for individual projects and must be taken into account from the outset. That’s why planning and anticipation of potential issues is one of the most important first steps in successful project execution. Project managers of all types can benefit from the Project Risk and Cost Analysis course in order to properly identify, assess and control the uncertainties and potential costs of any project so as to anticipate issues that may arise along the way and mitigate the potential negative effects as best as possible. Participants in this course will discover various approaches used by successful companies and government agencies to identify, assess and quantify both risks and their potential impacts – the costs. In completing this course, participants will learn useful management techniques and response strategies alongside effective ways to monitor, control, and communicate risks to all applicable stakeholders throughout the project life cycle.

As Project Risk and Cost Analysis is one of the most important functions of any project manager, this course is ideal for any professionals looking to ensure they do the most comprehensive analysis for their assigned projects. Professionals in all industries can benefit tremendously from this course and should include this course in any learning path toward project management certification.

The Project Risk and Cost Analysis course provides students with an overview of the principal concepts involved in project risk and cost analysis. Students will be introduced to the importance of effective risk management. They will learn about various risk factors and scenarios that can lead to project management issues. Students will then examine the key skills and methods related to project risk management and cost analysis. Finally, students will learn effective ways to develop and apply the skills acquired in this course for their own workplace.

The Project Risk and Cost Analysis course will address the following primary course objectives:

• Identify risk factors that lead to project management issues
• Use appropriate steps to manage risk and analyze costs for projects
• Use different strategies to plan for a project
• Identify techniques for planning and managing projects
• Define important terms in project risk management
• Explain how to close a project
• Use models and charts to help manage risks and analyze costs for your project