Managing Project Risks

Review tools and processes that help mitigate risk and increase quality as companies demand products and services faster and cheaper.

Understanding and managing risks in delivering quality products is key to customer satisfaction.

Note: PDUs for the PMP®/PgMP® certifications for Technical, Leadership and Strategic Business are available. For more information, call 414-227-3200.

This course can be applied to the Project Management Certificate.


Barbara Farmerie, MBA, PMP

Barbara Farmerie, MBA, PMP

Barb Farmerie was born in Pittsburgh, PA, but has been a resident of Milwaukee for more than 20 years. Much of that time was spent working for MillerCoors, where she was an IT development manager delivering business application projects throughout ... read more

Who Should Attend

  • Working professionals – apply tools and templates to advance your career
  • Recent college grads – learn how risk management fits into new job requirements
  • Career changers – increase your effectiveness in applying concepts and tools of risk management

Benefits and Learning Outcomes

  • Align teams around high-risk decisions and buy in of stakeholders
  • Minimize uncertainty in risky decisions and avoid project ‘land mines’
  • Learn ways to integrate quality and risk management into project work plans
  • Practice defining and delivering stakeholder satisfaction

Course Outline/Topics

Course Outline

1)    Get Started

  • Workshop objectives and expectations
  • Activity: cite examples of successful projects
  • Definitions review

2)    Plan for Quality

  • Brief history of quality in corporate America, Malcolm Baldridge Award, ISO Standards
  • Discussion: review processes and tools used in successful projects
  • Securing requirements from project stakeholders
  • Quality assurance vs. quality control
  • Developing a quality management plan
  • Activity: create a quality management plan

3)    Quality vs. Risks

  • Balancing tradeoffs of time/cost/quality
  • Project level balancing
  • Business case balancing
  • Organization level balancing
  • Determining risk management strategies
  • Risk management strategies
  • Quality control checklist for starting projects
  • Activity: cite examples of unsatisfactory deliverable or unhappy clients

4)    Risk Road Map

  • Project risk management overview
  • Risk management plan contents review
  • The role of project teams in risk and quality management
  • The value of Risk Breakdown Structures (RBS)
  • Samples of RBS
  • Review of tools for identifying risks: fishbone diagrams, mind maps, SWOT analysis

5)    Target Project Risks at the Business Case, Project Charter and Project Schedule

  • Identify risks at the business case with questionnaire
  • Activity: identify risks at business case level – case study
  • Identify risks at the project charter level with questionnaire
  • Activity: identify risks at the project charter level – case study continued
  • Checklist for identifying risks at the project schedule level
  • What is a risk register?

6)    Stakeholders and Risk Assessment

  • Evaluate stakeholder risk sensitivities
  • Activity: assess your personal risk tolerance
  • Risk bias
  • Qualitative risk assessment
  • Risk assessment tools: impact & probability worksheet, risk assessment matrix
  • Activity: assess risk – case study continued
  • Quantitative risk assessment

7)    Develop a Risk Register

  • Elements of the risk register
  • Risk strategies for preventive actions
  • Defining risk triggers and thresholds
  • Defining reactive actions
  • Activity: develop a risk register – case study continued
  • What to do with these risks: integrating risk actions into the project schedule
  • Activity: reducing risks in the project management plan
  • Using the Risk ID Checklist

8)    Balancing Quality vs. Risk

  • Integrating quality and risk into the project management plan
  • Activity: ways to shorten the schedule
  • Activity: review key takeaways, course debrief


"This class has helped me gain the foundations to be a better PM. All the classes SCE offers are great."  —  Elias Eitsert, Organic Valley

"Thank you so much for the templates and the knowledge shared in this class. I used the risk register in a meeting today and it worked perfectly!"  —  Susie Hallett, IEWC

All sessions are Face-to-Face unless otherwise noted.

Date: Wed-Thu, May 1-2

Time: 8:30am-4:30pm

Location: UWM School of Continuing Education

Instructor: Barbara Farmerie MBA, PMP

Fee: $845

CEUs: 1.4, PDUs: 14

Enrollment Limit: 24

Program Number: 5025-11243

Registration Deadline: Wed., May 1

Register Now

Date: Course available May 20-June 15

Location: Online

Instructor: Barbara Farmerie MBA, PMP

Fee: $845

CEUs: 1.4, PDUs: 14

Enrollment Limit: 20

Program Number: 5025-11337

Registration Deadline: Mon., May 13

Register Now