Risk Analysis and Planning

Course Description

The ability to identify the right solution for an important business problem is an essential skill that all business analysis practitioners need to have. However, the ability to go further, to analyze that solution for potential risks and communicate them to the business is critical. Business leaders often consider the level and types of risk that might materialize with a solution as important criteria when evaluating projects they might want to pursue. Decision makers will look for indications that a solution can be successfully delivered – yet risks are exactly those things that, if unmanaged, could derail a project and send a solution to its untimely demise.

This course is designed to help practitioners build strong risk analysis and assessment skills so that they can support the business effectively.  Students will gain knowledge and skills by practicing techniques that will help them effectively identify and assess risks, plan appropriate approaches, and communicate and manage information that should minimize the potential impacts of risk to both the project or the solution overall.

Learning Objectives

• Risks, risk responses and planning strategies, such as mitigation and contingency plans
• How different types of solutions may create different but typical types and categories of risk
• What different approaches and strategies can be taken to effectively plan for and minimize the potential risks that could impact their project or the timeline

Tools and Templates

This course will introduce students to an Extended Risk Register which will aid in communications and managing expectations, as well as impact assessment and risk response planning. Additionally, a separate Project Risk Assessment template will be shared to help inspire those students and help those who truly don’t know where to start when staring at a “blank canvas”.

Intended Audience

This course is designed for business analysts, product owners, project managers, program or portfolio managers or any other business partner or project team member involved with communicating and managing risks on a project. This course may also be appropriate for individuals who manage business analysts and need a more in-depth understanding of the process and skill set that would be helpful for effective business analysis.

Prerequisites

This is an advanced topic that expands upon elements presented in one of our foundation classes. We recommend students first attend our Essential Skills for Business Analysis class or have equivalent experience.