Project Management Foundations: Risk
1h 22mIntermediate2026-09-01
Authors

Bob McGannon
PMP and PRINCE2 Certified Consultant, Author, and Speaker
Course details
Without risk, there can be no reward. But if not managed properly, risk reduces your ability to achieve your project's goals and could derail it altogether. In this course, author and PMP Bob McGannon shows you how to anticipate, assess, and manage project risk, whether your project is large or small. Bob explains how the PMBOK seventh edition deals with risk and why managing risk is so critical for project success. Discover how to gauge your stakeholders' tolerance for risk, assemble a risk plan, build a risk register, and maintain project continuity as risks crop up.
Learning objectives
Distinguish the approaches to use for reducing and managing risk.
Determine the best strategy for addressing a threat or risk event.
Explain the steps for managing the risk appetite and tolerances related to a project.
Interpret the best approach to take when requirements or technologies are uncertain.
Articulate the characteristics for optimal responses to risks.
Learning objectives
Distinguish the approaches to use for reducing and managing risk.
Determine the best strategy for addressing a threat or risk event.
Explain the steps for managing the risk appetite and tolerances related to a project.
Interpret the best approach to take when requirements or technologies are uncertain.
Articulate the characteristics for optimal responses to risks.
Skills covered
Project Management SkillsFoundationsProject Management
Concepts
Introduction
- Project risk - A battle of resiliency
- Keeping current with project management risks
Risk Characteristics and Planning
- Project risk - A product of uncertainty
- The risk management process
- Managing risk, ambiguity, and project stakeholders
- Dealing with volatility in a project environment
- The components of a project management risk plan
Risk Outcomes - Threats and Opportunities
- Project risk identification methods
- Project threats
- Project opportunities
- Building project resiliency
Tailoring Project Uncertainty
- Understanding risk appetite and tolerance
- Determining project risk analysis level
- Budgeting for risk
- Tailoring risk plans
- Project vs. task risk
Strategic Risk Management
- Managing project risk strategically
- Knowns and unknowns
- Managing unknown unknowns
- Identifying risk triggers
- Uncertainty of requirements and technology
Optimizing Risk Responses
- Challenge - Staffing uncertainty
- Solution - Staffing uncertainty
- Challenge - Requirements volatility
- Solution - Requirements volatility
- Challenge - Technology deployment
- Solution - Technology deployment
Conclusion
- Your risk management toolkit