A self-paced practical course for project managers, team leads and PMO staff who want to manage risk in IT projects systematically. Seven lessons cover planning risk management, identifying risks, qualitative assessment, quantitative techniques, planning responses, monitoring and reporting, and the specific technical, security, data and supplier risks common in IT work. Each lesson ends with an exercise you can apply to a live project.
What you will learn
- Plan a risk management approach for a project
- Identify risks using several techniques and write clear risk statements
- Assess probability and impact consistently
- Use simple quantitative techniques such as expected value and three-point estimates
- Choose and plan responses for threats and opportunities
- Monitor, review and report risks effectively
- Recognise common IT technical, security, data and supplier risks
Lessons
- Planning Risk Management
- Identifying Risks
- Qualitative Assessment
- Quantitative Techniques
- Planning Responses
- Monitoring, Review and Reporting
- Common IT Project Risks
Self-paced course from Tech Skills Library. Educational content only; it is not an accredited qualification, licence or credential.
Lessons
Planning Risk Management
Identifying Risks
Risk identification aims to find as many relevant risks as possible early. Using several techniques reduces blind spots. Techniques Brainstorming workshops with the team, users, operations and security. Checklists based on past projects. Assumption analysis: test each assumption; a wrong assumption is a risk. Constraint analysis: deadlines, budgets and regulations create risks. Interviews with experts […]
Qualitative Assessment
Qualitative assessment prioritises risks by probability and impact so effort goes to the risks that matter most. Probability and impact Rate each risk using the scales from your plan. Discuss ratings with the team to reduce individual bias. The probability-impact matrix Combine ratings in a grid. Risks in the high-high corner need immediate attention; low-low […]
Quantitative Techniques
For larger or high-stakes projects, quantitative analysis estimates the combined effect of risks on schedule and cost. Expected monetary value Multiply probability by impact. A 30 percent chance of a 20,000 cost overrun has an expected value of 6,000. Summing expected values across risks gives a rough contingency estimate. Three-point estimates For uncertain tasks, estimate […]
Planning Responses
For each significant risk, choose a response, assign an owner and define actions. Threat responses Avoid: change the plan to remove the risk, such as choosing a proven technology. Reduce: lower probability or impact, such as running a proof of concept. Transfer: shift financial impact to a third party, such as through a contract clause […]
Monitoring, Review and Reporting
Risks change constantly. Monitoring keeps the register accurate and ensures responses are working. The risk register For each risk: identifier, statement, category, probability, impact, proximity, owner, response, actions, status and last review date. Keep it focused; a register with hundreds of stale entries is ignored. Review rhythm Review top risks weekly in team meetings and […]
Common IT Project Risks
Some risks recur across IT projects. Knowing them helps you identify and respond earlier. Technical risks Integration with legacy systems proves more complex than expected. Performance does not meet requirements at production scale. New technology is immature or poorly understood by the team. Environments are unavailable or differ from production. Security and privacy risks Security […]