Risk Management for Projects, Programmes and Operations

Proactive Risk Planning, Analysis, and Response for Project and Operational Success

Claim 5 CPD Points

Platform:

Online

In-class

Revised and Updated: 08 October 2026

Date	Venue	Duration
23 - 27 November 2026	Sandton, Gauteng	5 Days

Course Introduction

Every project, programme, and operation faces uncertainty. Risk management is the discipline of facing that uncertainty deliberately: finding what could go wrong, and what could go better than planned, and acting early. Done well, it lets teams capture opportunities, reduce threats, protect safety, time, cost, and quality, and reach better outcomes.

This five-day, hands-on course teaches a systematic, six-process approach to risk management: planning, identification, qualitative analysis, quantitative analysis, response planning, and implementing and monitoring responses. It applies equally to projects, programmes, and day-to-day operations, including maintenance, start-up, and shut-down. Participants learn to use practical techniques, from risk registers and risk matrices to PERT, Expected Monetary Value (EMV), and simulation, and finish with a simulation exercise that puts the whole process to work. The course is applicable across industries.

The course is aligned with the principles and process of ISO 31000:2018 (Risk management: Guidelines), the risk assessment techniques in IEC 31010:2019, and the risk management content of the PMI® PMBOK® Guide, Eighth Edition. It supersedes earlier material that referred to ISO 31000:2009, ISO 31010:2009, and the PMBOK® Guide, Sixth Edition.

Course Objectives

By the end of this Risk Management for Projects, Programmes and Operations course, participants will be able to:

Explain the risk management process, and the roles and responsibilities within it
Plan risk management for a project, programme, or operation, and integrate it into existing processes
Identify risks to safety, time, cost, and quality across the project and operational life cycle
Assess risks using qualitative and quantitative techniques, including PERT, EMV, and simulation
Prioritise risks, and develop response strategies for both threats and opportunities
Establish a risk response budget and contingency using Expected Monetary Value (EMV)
Develop a risk monitoring plan, and control, report, and review risks throughout the life cycle
Apply the whole process in a simulation of a realistic project or operation

Who should attend?

Operations Team Leaders, Supervisors, Section Heads, and Managers
Project Managers, Team Leaders, and Line Managers
Risk Managers and Risk Professionals
Maintenance Managers, Engineers, and Technicians
Technical professionals involved in operations start-up, maintenance, and shut-down
Business and operations professionals with an interest in risk management
Project and business administration, procurement, and support staff
All personnel involved in carrying out programme, project, and operations work

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1 — Risk Management Framework and Planning

Module 1: Risk Management Framework and Planning

Overview of projects, programmes, and operations, and how risk differs in each
The six key processes of risk management
Purpose and benefits of effective risk management, for threats and opportunities
Defining roles and responsibilities in risk management
Integrating risk management into the operations process

Module 2: Risk Management Planning

The steps in the risk planning process
Setting risk appetite and thresholds, risk categories, and the probability and impact scales
Producing a risk management plan
Practical Exercise: build a risk management plan for a sample project or operation

Day 2 — Risk Identification

Module 3: Risk Identification Processes

Understanding the operational context and key stakeholders
Inputs required for effective risk identification
Tools and techniques: brainstorming, checklists, the Delphi technique, SWOT, root cause analysis, and cause-and-effect diagrams
Identifying consequential risks, and risk interdependencies
Documenting the outputs: the risk register and risk statements
Practical Exercise: run a risk identification workshop, and write well-formed risk statements

Module 4: Practical Risk Identification

Risks to safety, time, cost, and quality
Identifying risks in operations: maintenance, start-up, and shut-down
Case Study: identify and record the risks for a realistic project or shutdown scenario

Day 3 — Risk Assessment and Quantification

Module 5: Qualitative Risk Analysis

Estimating probability and impact
Risk matrices, and prioritising risks
Assessing urgency, proximity, and risk ownership
Practical Exercise: score and rank a risk register using a probability-impact matrix

Module 6: Quantitative Risk Analysis

Estimation techniques for risk assessment
Schedule diagramming and the Critical Path Method (CPM)
Program Evaluation and Review Technique (PERT)
Expected Monetary Value (EMV) and decision trees
Sensitivity analysis, and an introduction to Monte Carlo simulation
Practical Exercise: apply PERT and EMV to calculate the schedule risk and the cost exposure of a project

Day 4 — Risk Response Planning

Module 7: Prioritising Risks and Developing Responses

Prioritising identified risks
Guidelines for developing risk response strategies
Strategies for threats (avoid, mitigate, transfer, accept) and for opportunities (exploit, enhance, share, accept)
Planning and analysing effective responses, and secondary and residual risks
Practical Exercise: develop response plans for the top risks on a sample register

Module 8: Contingency and the Risk Budget

Contingency plans and fallback plans, and risk triggers
Establishing a risk management budget and contingency reserve using EMV
Exploring alternative response strategies, and validating them
Practical Exercise: calculate a contingency reserve for a project using EMV

Day 5 — Implementing and Controlling Risk Responses

Module 9: Implementing and Controlling Risk Responses

Guidelines for risk control processes
Essential inputs for risk control
Tools and techniques: risk reviews, audits, variance and trend analysis, and reserve analysis
Outputs and documentation of risk control activities

Module 10: Reporting and Embedding Risk Management

Reporting and documenting risk management outcomes
Building a risk-aware culture, and learning from risk events
Developing a risk monitoring plan

Simulation Exercise: Risk Management in Action

Teams work through the full risk process on a realistic scenario: plan, identify, analyse, respond, and control
Teams present their results and the group debriefs
Practical Exercise: full-process risk simulation, followed by a personal action plan and course evaluation

Course Categories

Office Administration Courses ❯ Audit, Risk And Governance ❯ Compliance Courses ❯ Finance Courses ❯ Human Resources Training & Development ❯ View All Course Categories ❯

Course Registration Guide

Everything you need to know about registering for a Prospen training course.

View Registration Guide

Success Stories

Discover how our courses enhance professionals’ effectiveness in their workplaces.

No reviews found. Add reviews from the dashboard or switch source to Manual.

FAQs – Risk Management for Projects, Programmes and Operations

Master risk management for projects, programmes, and operations, learning risk identification, qualitative and quantitative analysis, mitigation strategies, opportunity exploitation, and contingency planning to protect organizational objectives.

What is covered in the Risk Management for Projects, Programmes and Operations Course?

The course covers enterprise-wide risk identification, qualitative and quantitative risk analysis, risk response planning, ISO 31000 risk principles, risk appetite framing, and integrated risk governance across projects, programmes, and daily operations.

Who should attend this Risk Management Course?

This training is designed for project and programme managers, risk officers, operational managers, PMO staff, compliance leaders, and executives seeking to protect organizational value across operational and project portfolios.

How does this program address both project-level and operational risks?

Delegates learn how to connect temporary project risk profiles with long-term operational risk frameworks, ensuring seamless risk escalation, consistent risk registers, and aligned business continuity strategies.

Will delegates master quantitative and qualitative risk modeling techniques?

Yes. The curriculum details qualitative scoring matrices, probability and impact mapping, and quantitative methods such as decision tree analysis and expected monetary value (EMV) calculations to prioritize risks effectively.

Does the course cover risk response strategies and contingency planning?

Yes. Participants gain practical skills in formulating proactive risk responses (avoidance, transfer, mitigation, acceptance) for threats, while leveraging exploitation and enhancement techniques for positive opportunities.

Why is integrated risk management crucial for organizational resilience?

Proactive risk management prevents project failures, minimizes costly operational disruptions, ensures regulatory compliance, protects revenue streams, and empowers leadership to take calculated strategic risks with confidence.

Related Courses

Share this page:

Facebook X (Twitter) LinkedIn WhatsApp Email

Consulting

Training & Services

Reliable Shuttle Services

Qualifications

Short Courses

More Courses

More Courses

South Africa

Africa

More Africa

Other Countries

Training Formats

Course Durations

Training Calendar

Training Resources

About Prospen

Risk Management for Projects, Programmes and Operations

Proactive Risk Planning, Analysis, and Response for Project and Operational Success

Course Objectives

Who should attend?

Course Outline

Request a Call Back

Course Introduction

Course Objectives

Who should attend?

Training Methodology

Training Outline

Course Categories

Course Registration Guide

Request a Call Back

Your submission has been successful

Success Stories

FAQs – Risk Management for Projects, Programmes and Operations

Related Courses