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Noel Lindsay,
Anton Jordaan,
Stella Bachtis,
John Sing,
and
Frank Schultmann
Risk management is a process used for the identification, assessment and analysis of potential risks to an organization or project. This process enables you to develop the most appropriate risk response.
In the Risk Management for Projects course, you will learn the fundamentals of risk management, as well as how to apply a risk management process in a project-based setting. Risk management is an iterative process and you will learn how adopting key procedures can help you maximize opportunities and minimize negative impact on your project objectives.
Read more
Risk management is a process used for the identification, assessment and analysis of potential risks to an organization or project. This process enables you to develop the most appropriate risk response.
In the Risk Management for Projects course, you will learn the fundamentals of risk management, as well as how to apply a risk management process in a project-based setting. Risk management is an iterative process and you will learn how adopting key procedures can help you maximize opportunities and minimize negative impact on your project objectives.
Read more
Risk management is a process used for the identification, assessment and analysis of potential risks to an organization or project. This process enables you to develop the most appropriate risk response.
In the Risk Management for Projects course, you will learn the fundamentals of risk management, as well as how to apply a risk management process in a project-based setting. Risk management is an iterative process and you will learn how adopting key procedures can help you maximize opportunities and minimize negative impact on your project objectives.
In this course, you will further upskill through the application of the risk management canvas, which is a framework that enables you to manage risk within your own environment. It will immerse you in the concepts of risk management and help you to apply the key processes.
Practical activities through the course will allow you to apply the knowledge you learn as each week focuses on a key stage of the risk management process. The theories and practices taught in the course can easily be applied to any project, organization or business environment.
Risk Management for Projects is brought to you by the same team that developed the highly successful Introduction to Project Management MOOC, and builds on risk management for projects introduced in that course.
Participating in this course will ensure that you gain the know-how to reduce your project and organizational risk in the future.
Register for this course and see more details by visiting:
OpenCourser.com/course/snkue5/risk
What's inside
Learning objectives
- How the risk management process works as part of a compliance framework
- Use of frameworks to identify, assess and analyse risks in a business context
- Application of appropriate risk responses
- Design and integration strategies for reporting and communicating risks to various stakeholders
- Use of a monitor and review process, and application of risk management as an iterative process
- How the risk management process works as part of a compliance framework
- Use of frameworks to identify, assess and analyse risks in a business context
- Application of appropriate risk responses
- Design and integration strategies for reporting and communicating risks to various stakeholders
- Use of a monitor and review process, and application of risk management as an iterative process
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Introduces risk management as a process used for the identification, assessment and analysis of potential risks to an organization or project
Teaches how to apply a risk management process in a project-based setting
Provides practical activities to apply the knowledge you learn as each week focuses on a key stage of the risk management process
Taught by a team of renowned instructors in the field, including Frank Schultmann, Noel Lindsay, Anton Jordaan, John Sing, and Stella Bachtis, who authored the highly successful Introduction to Project Management MOOC
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Reviews summary
Foundations of project risk management
According to learners, this course provides a solid positive">introduction to the fundamentals of risk management in projects. Students widely praise the emphasis on positive">practical application, particularly highlighting the usefulness of the positive">risk management canvas framework introduced. Many found the course content to be positive">clear and well-structured, making complex topics accessible. While the course is seen as an excellent starting point for beginners and those needing a refresh, some reviewers with prior experience noted it might feel warning">introductory or lack the advanced depth they sought. Overall, it's considered a positive">valuable foundation for applying risk management principles.
Material is well-organized and easy to follow.
"The lectures are clear and concise, breaking down complex ideas into manageable segments."
"The course is well-structured, with each week building effectively on the last stage of the risk management process."
"I found the explanations provided in the course content to be very clear, which aided comprehension."
"The flow of the course makes it easy to digest and retain the information presented."
Offers a clear and strong foundation for beginners.
"This course is an excellent starting point for anyone new to risk management or project management in general. It covers the basics thoroughly."
"As someone with little prior knowledge, I found the material easy to understand and the progression logical."
"It provides a really solid foundation in the risk management process, covering all the essential steps."
"I gained a foundational understanding of how the risk management process works within projects."
Emphasizes practical tools and real-world use.
"This course emphasizes the practical application of risk management, providing tools and techniques that can be immediately applied to real-world projects."
"I particularly appreciated the Risk Management Canvas; it's a powerful framework that helps structure the entire process."
"The hands-on activities allowed me to apply the concepts learned each week, which solidified my understanding significantly."
"The course gives me practical strategies and frameworks I can use right away in my work."
May be too basic for experienced professionals.
"For someone who already has a background in project management, some parts of the course might feel a bit repetitive or basic."
"While great for beginners, I was hoping for more advanced techniques or deeper dives into specific risk analysis methods."
"If you are looking for highly detailed, expert-level content, this introductory course may not fully meet those expectations."
"It's a good overview, but didn't go into the kind of specific detail I needed for complex project scenarios."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Risk Management for Projects with these
activities:
Review probability and statistics concepts
Show steps
Probability and statistics play a crucial role in risk management. Refresh your knowledge to enhance your understanding
Browse courses on
Probability
Show steps
-
Review basic concepts of probability and statistics, such as probability distributions, central limit theorem, and hypothesis testing
-
Solve practice problems to reinforce your understanding
Review the fundamentals of risk management
Show steps
Reviewing the fundamentals of risk management before taking this course will help you better understand the concepts and practices taught in the course.
Browse courses on
Risk Management
Show steps
-
Find online tutorials or articles that cover the basics of risk management.
-
Watch the videos or read the articles.
-
Take notes on the key concepts and principles of risk management.
Compile a list of resources on risk management
Show steps
Compiling a list of resources on risk management before taking this course will help you identify materials that you can refer to for additional learning and support.
Browse courses on
Risk Management
Show steps
-
Search for books, articles, websites, and other resources on risk management.
-
Create a list of the resources that you find.
-
Add the list to your learning management system.
15 other activities
Expand to see all activities and additional details
Show all 18 activities
Practice identifying and assessing risks
Show steps
Practicing identifying and assessing risks before taking this course will help you develop the skills necessary to effectively manage risks in projects.
Browse courses on
Risk Management
Show steps
-
Find a list of potential risks that could occur in a project.
-
For each risk, identify the likelihood and impact of the risk.
-
Prioritize the risks based on their likelihood and impact.
Read Risk Management for Projects
Show steps
This will help build a strong knowledge foundation and build upon the concepts introduced in the course
Show steps
-
Obtain the book using your preferred method, such as the library or online retailers
-
Read through the book in its entirety, taking notes as needed
-
Review your notes and come up with questions you may have
Attend a risk management workshop
Show steps
Attending a risk management workshop before taking this course will help you gain a deeper understanding of risk management concepts and practices.
Browse courses on
Risk Management
Show steps
-
Find a risk management workshop to attend.
-
Register for the workshop.
-
Attend the workshop and participate in the activities.
Risk Management Calculations
Show steps
Complete a series of practice drills that are aimed at improving your proficiency in risk management calculations
Browse courses on
Risk Management
Show steps
-
Obtain practice drills and begin working through them
-
Review your answers and seek clarification if needed
Create a risk management plan for a project
Show steps
Creating a risk management plan for a project before taking this course will help you understand the process of developing and implementing a risk management plan.
Browse courses on
Risk Management
Show steps
-
Identify the project goals and objectives.
-
Identify the potential risks that could occur in the project.
-
Develop strategies to mitigate the risks.
-
Create a plan to monitor and control the risks.
Follow online tutorials
Show steps
Supplement your learning with additional resources and guidance from experienced professionals
Browse courses on
Risk Management Process
Show steps
-
Identify specific topics or areas where you need additional support
-
Search for online tutorials or courses that cover these topics
-
Follow the tutorials and complete any associated exercises or assignments
Risk Management Presentation
Show steps
Create a presentation that outlines the key elements of risk management and how you might apply them to a real-world scenario
Browse courses on
Risk Management
Show steps
-
Brainstorm and draft the content of your presentation
-
Design and or gather visuals to use in your presentation
-
Rehearse your delivery
Risk Management Study Group
Show steps
Join a risk management study group where you can discuss risks with your classmates
Browse courses on
Risk Management
Show steps
-
Locate or create a risk management study group
-
Attend meetings of the group
-
Discuss risk management topics with your group
Complete practice exercises
Show steps
Reinforce your understanding of risk management concepts through practical application
Show steps
-
Find practice exercises or problems related to risk management
-
Attempt to solve the exercises on your own
-
Check your answers and identify areas where you need improvement
Participate in a risk management competition
Show steps
Participating in a risk management competition before taking this course will help you test your skills and knowledge of risk management in a competitive environment.
Browse courses on
Risk Management
Show steps
-
Find a risk management competition to participate in.
-
Develop a team of participants.
-
Prepare for the competition by studying risk management concepts and practices.
Join study groups or discussion forums
Show steps
Engage with peers to discuss course content, share perspectives, and learn from others' experiences
Browse courses on
Project Risk Management
Show steps
-
Join online or in-person study groups dedicated to risk management
-
Participate in discussion forums related to risk management topics
-
Share your knowledge and insights, and learn from the contributions of others
Risk Management Software Tutorials
Show steps
Explore risk management software and apply what you're learning by completing guided tutorials
Browse courses on
Risk Management
Show steps
-
Identify software to focus on
-
Follow the provided tutorials
Risk Management Plan
Show steps
Create a risk management plan to implement as you navigate a project of your choosing. This will be a hands-on application of the concepts covered in the course.
Browse courses on
Risk Management
Show steps
-
Define the goals and scope of your project
-
Identify risks associated with your project and level of priority
-
Develop a risk management strategy
Develop a risk management plan
Show steps
Apply your knowledge to a practical project by developing a comprehensive risk management plan
Browse courses on
Risk Management Framework
Show steps
-
Identify a project or scenario to use as the basis for your plan
-
Conduct a risk assessment to identify potential risks
-
Develop mitigation strategies to address identified risks
-
Create a risk management document outlining your plan
Risk Management Report
Show steps
Create a risk management report that thoroughly examines different risks associated with a specific project as well as a plan to mitigate any risks that are identified
Browse courses on
Risk Management
Show steps
-
Conduct a risk analysis
-
Develop a risk management plan
-
Write your risk management report
Review probability and statistics concepts
Show steps
Probability and statistics play a crucial role in risk management. Refresh your knowledge to enhance your understanding
Browse courses on
Probability
Show steps
Show steps
Show steps
- Review basic concepts of probability and statistics, such as probability distributions, central limit theorem, and hypothesis testing
- Solve practice problems to reinforce your understanding
Review the fundamentals of risk management
Show steps
Reviewing the fundamentals of risk management before taking this course will help you better understand the concepts and practices taught in the course.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Find online tutorials or articles that cover the basics of risk management.
- Watch the videos or read the articles.
- Take notes on the key concepts and principles of risk management.
Compile a list of resources on risk management
Show steps
Compiling a list of resources on risk management before taking this course will help you identify materials that you can refer to for additional learning and support.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Search for books, articles, websites, and other resources on risk management.
- Create a list of the resources that you find.
- Add the list to your learning management system.
15 other activities
Expand to see all activities and additional details
Show all 18 activities
Practice identifying and assessing risks
Show steps
Practicing identifying and assessing risks before taking this course will help you develop the skills necessary to effectively manage risks in projects.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Find a list of potential risks that could occur in a project.
- For each risk, identify the likelihood and impact of the risk.
- Prioritize the risks based on their likelihood and impact.
Read Risk Management for Projects
Show steps
This will help build a strong knowledge foundation and build upon the concepts introduced in the course
Show steps
Show steps
Show steps
- Obtain the book using your preferred method, such as the library or online retailers
- Read through the book in its entirety, taking notes as needed
- Review your notes and come up with questions you may have
Attend a risk management workshop
Show steps
Attending a risk management workshop before taking this course will help you gain a deeper understanding of risk management concepts and practices.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Find a risk management workshop to attend.
- Register for the workshop.
- Attend the workshop and participate in the activities.
Risk Management Calculations
Show steps
Complete a series of practice drills that are aimed at improving your proficiency in risk management calculations
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Obtain practice drills and begin working through them
- Review your answers and seek clarification if needed
Create a risk management plan for a project
Show steps
Creating a risk management plan for a project before taking this course will help you understand the process of developing and implementing a risk management plan.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Identify the project goals and objectives.
- Identify the potential risks that could occur in the project.
- Develop strategies to mitigate the risks.
- Create a plan to monitor and control the risks.
Follow online tutorials
Show steps
Supplement your learning with additional resources and guidance from experienced professionals
Browse courses on
Risk Management Process
Show steps
Show steps
Show steps
- Identify specific topics or areas where you need additional support
- Search for online tutorials or courses that cover these topics
- Follow the tutorials and complete any associated exercises or assignments
Risk Management Presentation
Show steps
Create a presentation that outlines the key elements of risk management and how you might apply them to a real-world scenario
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Brainstorm and draft the content of your presentation
- Design and or gather visuals to use in your presentation
- Rehearse your delivery
Risk Management Study Group
Show steps
Join a risk management study group where you can discuss risks with your classmates
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Locate or create a risk management study group
- Attend meetings of the group
- Discuss risk management topics with your group
Complete practice exercises
Show steps
Reinforce your understanding of risk management concepts through practical application
Show steps
Show steps
Show steps
- Find practice exercises or problems related to risk management
- Attempt to solve the exercises on your own
- Check your answers and identify areas where you need improvement
Participate in a risk management competition
Show steps
Participating in a risk management competition before taking this course will help you test your skills and knowledge of risk management in a competitive environment.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Find a risk management competition to participate in.
- Develop a team of participants.
- Prepare for the competition by studying risk management concepts and practices.
Join study groups or discussion forums
Show steps
Engage with peers to discuss course content, share perspectives, and learn from others' experiences
Browse courses on
Project Risk Management
Show steps
Show steps
Show steps
- Join online or in-person study groups dedicated to risk management
- Participate in discussion forums related to risk management topics
- Share your knowledge and insights, and learn from the contributions of others
Risk Management Software Tutorials
Show steps
Explore risk management software and apply what you're learning by completing guided tutorials
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Identify software to focus on
- Follow the provided tutorials
Risk Management Plan
Show steps
Create a risk management plan to implement as you navigate a project of your choosing. This will be a hands-on application of the concepts covered in the course.
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Define the goals and scope of your project
- Identify risks associated with your project and level of priority
- Develop a risk management strategy
Develop a risk management plan
Show steps
Apply your knowledge to a practical project by developing a comprehensive risk management plan
Browse courses on
Risk Management Framework
Show steps
Show steps
Show steps
- Identify a project or scenario to use as the basis for your plan
- Conduct a risk assessment to identify potential risks
- Develop mitigation strategies to address identified risks
- Create a risk management document outlining your plan
Risk Management Report
Show steps
Create a risk management report that thoroughly examines different risks associated with a specific project as well as a plan to mitigate any risks that are identified
Browse courses on
Risk Management
Show steps
Show steps
Show steps
- Conduct a risk analysis
- Develop a risk management plan
- Write your risk management report
Career center
Learners who complete Risk Management for Projects will develop knowledge and skills
that may be useful to these careers:
Risk Manager
Risk Manager
Risk Managers create and implement risk management plans to ensure an organization's operations are compliant with laws and regulations. If you want to become a Risk Manager, this course can help you succeed in this role. It teaches you how to identify, assess, and analyze risks, develop appropriate risk responses, and use a monitor and review process to continually improve your risk management strategy.
Business Analyst
Business Analyst
Business Analysts help organizations improve their performance by identifying and solving problems. The knowledge and skills taught in this course can help you do just that. Specifically, you will learn how to identify and assess risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Project Manager
Project Manager
Project Managers oversee projects from start to finish, ensuring that they are completed on time, within budget, and according to specifications. This course can help you succeed in this role by teaching you how to manage risks effectively. You will learn how to identify, assess, and mitigate risks, as well as how to develop contingency plans in case of unexpected events.
Accountant
Accountant
Accountants are responsible for preparing and managing financial records, providing financial advice, and ensuring compliance with financial regulations. The skills you learn in this course will be helpful for Accountants, as they will learn how to identify and assess financial risks, develop risk mitigation plans, and communicate their findings to stakeholders.
Compliance Officer
Compliance Officer
Compliance Officers ensure that their organizations comply with all applicable laws and regulations. This course can help you succeed in this role by teaching you how to identify, assess, and mitigate risks that could lead to legal or regulatory violations.
Auditor
Auditor
Auditors examine an organization's financial records to ensure that they are accurate and compliant with regulations. This course can help you succeed in this role by teaching you how to identify and assess financial risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Financial Analyst
Financial Analyst
Financial Analysts provide advice and guidance to investors, helping them make informed decisions about their investments. This course can help you succeed in this role by teaching you how to identify and assess financial risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Investment Banker
Investment Banker
Investment Bankers help companies raise capital by issuing and selling securities. This course can help you succeed in this role by teaching you how to identify and assess financial risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Data Analyst
Data Analyst
Data Analysts collect, analyze, and interpret data to help organizations make informed decisions. This course can help you succeed in this role by teaching you how to identify and assess data risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Information Security Analyst
Information Security Analyst
Information Security Analysts help organizations protect their information systems from unauthorized access, use, disclosure, disruption, modification, or destruction. This course can help you succeed in this role by teaching you how to identify and assess information security risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Operations Manager
Operations Manager
Operations Managers oversee the day-to-day operations of an organization, ensuring that they run smoothly and efficiently. This course can help you succeed in this role by teaching you how to identify and assess operational risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Logistics Manager
Logistics Manager
Logistics Managers oversee the movement of goods and materials from one place to another. This course can help you succeed in this role by teaching you how to identify and assess logistics risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Supply Chain Manager
Supply Chain Manager
Supply Chain Managers oversee the flow of goods and materials from suppliers to customers. This course can help you succeed in this role by teaching you how to identify and assess supply chain risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Entrepreneur
Entrepreneur
Entrepreneurs start and run their own businesses. This course can help you succeed in this role by teaching you how to identify and assess business risks, develop risk mitigation plans, and communicate your findings to stakeholders.
Consultant
Consultant
Consultants provide advice and guidance to organizations on a variety of topics, including risk management. This course can help you succeed in this role by teaching you how to identify and assess risks, develop risk mitigation plans, and communicate your findings to stakeholders.
For more career information including salaries, visit:
OpenCourser.com/course/snkue5/risk
Reading list
We've selected seven books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Risk Management for Projects.
Comprehensive reference guide to risk management. It covers a wide range of topics, including risk assessment, risk mitigation, and risk communication. It valuable resource for risk managers and other professionals who are involved in risk management.
Comprehensive guide to risk management for projects. It covers all aspects of the risk management process, from risk identification to risk mitigation. It valuable resource for project managers and other professionals who are involved in risk management.
Provides a collection of tools and templates that can be used to support risk management activities. It valuable resource for risk managers and other professionals who are involved in risk management.
Provides a collection of case studies that illustrate how risk management is applied in the real world. It valuable resource for those who want to learn more about the practical applications of risk management.
Discusses the relationship between risk management and corporate governance. It provides insights into how to align risk management with the goals of an organization.
Takes a somewhat philosophical approach to the subject of risk management. It discusses the nature of risk and how it can be managed, and it provides insights into the human factors that can affect risk management decisions.
Save
Uses a straightforward and easy-to-understand format to introduce the fundamentals of risk management. It good starting point for those who are new to the field, and it can also serve as a useful reference for more experienced practitioners.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/snkue5/risk
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Rating
5.0
Effort
2 to 3 hours per week for 5 weeks
Level
Introductory
Via
edX
Institution
University of Adelaide
Instructors
Noel Lindsay
Anton Jordaan
Stella Bachtis
John Sing
Frank Schultmann
Language
English
Transcript
English
This course belongs to a
collection
called
Fundamentals of Project Management. It's comprised of two courses:
- Introduction to Project Management
- Risk Management for Projects (viewing)
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