Past statistics revealed that many of the IT projects today have failed to meet the project objectives, they failed because the project management team failed to identify the project risks early in these projects. If these risks are not identified at the early phase of the project, they are unlikely to be considered during the planning phase of the project. There are costs associated with risk events, these costs can be quite significant that impacted the profitability of the project and cost overrun.

Usually, the vast majority of information technology projects were outsourced to IT vendors, while others were developed by the internal IT departments. Regardless, the project manager is responsible for the development of the project budget.  The bid manager will also need these costs for input into the preparation of sales proposal.  Whether the customer chooses to acquire the services of internal IT organization or engaging external vendors, there was one common thing behind these colossal project investments i.e. details of the cost associated with risks were not known.  There are project risks in any project, information technology project is no exception. 


Although many IT project managers associate uncertainty with threats, it is important to keep in mind that there is uncertainty when pursuing opportunities as well. It is unfortunate that many projects do not follow a formal risk management approach.  Because of their failure to plan for the unexpected, many organizations find themselves in a state of perpetual crisis characterized by an inability to make effective and timely decisions.

For example, in outsourcing services project, it does not matter whether a particular company is involved with software-as-a-service (SAAS) business, operating a platform-as-a-service (PAAS) provider, or your company is a business process outsourcing provider. The processes of managing and controlling risk are the same. While there is no shortcut to success, the first step is to look at the existing business processes and initiate a program to acquire new processes that will help to reduce the development cost.

Course Outline

  • Introduction to Risk Management and processes
  • The Project Management Life cycle (PMLC)
  • Risk management / PMLC Process Mapping
  • Establish Project Risk Management Framework
  • Developing the Project Risk Modeling Tool
  • Identifying Risk in Software project
  • Identifying Risk in Outsourcing project
  • Identifying Risk in e-Commerce  project
  • Developing the Project Risk Management Plan
  • The process of Risk Monitoring and Control
  • Risk monitoring via PRiSM tool
  • How to create project budget using PRiSM
  • Component of a project Risk Register
  • Risk Assessment : process and techniques
  • Determine and establish the Risk Strategy
  • Identify and Assess Risks in the Work Breakdown Structure
  • Define Mitigation plan and Contingency plan

How will this workshop benefit your organization?  

The risk management framework and the processes taught in this corporate training program have been designed to specifically manage and control risk that will be applied in current and future IT projects. Although new business processes will be introduced to support the requirements of future technologies, however, it will not affect the methodology and the underlying risk management processes that govern the implementation of these new applications. By applying project risk management processes for your organization, your chances of project success are high due to reduction and elimination of negative risks so projects can be completed within budget, schedule, scope, and quality. When you don’t have risk management strategies in place, your projects get exposed to problems and become vulnerable. Effective risk management strategies allow your organization to maximize profits and minimize expenses on project activities that don’t produce a return on investment.

This course is fully claimable under HRDF SBL scheme. 

How will this workshop benefits You? 

  • You have the opportunity to sit for the Certified Project Risk Manager examination
  • 50 multiple choice questions
  • Passing grade at 70%
  • CPRM Certification is valid for 2 years
  • Free membership with The American Academy of Project Management
  • You get to acquire the Knowledge + Certification
  • AAPM membership certificate will be issued. 
  • Your name will be registered in the AAPM Registered Member Verifiable Database

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