Course Details

Emerging Risk Management in Projects Training Course: Identifying and mitigating new and unforeseen risks (e.g., geopolitical, technological).

Introduction

Future-proof your projects and navigate an increasingly unpredictable world with our "Emerging Risk Management in Projects" training course. In today's volatile landscape, traditional risk registers often fall short against rapidly evolving threats like geopolitical shifts, disruptive technologies, and novel global events. This intensive 10-day program equips project professionals with advanced methodologies to proactively identify, assess, and mitigate new and unforeseen risks before they derail your initiatives. Learn to anticipate the unknown, build resilient project strategies, and transform potential threats into manageable challenges, ensuring your projects remain robust, adaptable, and successful in the face of tomorrow's uncertainties.

Duration

10 Days

Target Audience

This course is crucial for experienced project managers, program managers, PMO directors, risk managers, strategic planners, business analysts, and senior leaders who operate in dynamic or high-stakes environments. It is particularly beneficial for those involved in:

• Large-scale, complex, or long-term projects.
• Projects in rapidly evolving industries (e.g., technology, finance, energy, global trade).
• Initiatives with significant geopolitical exposure or social impact.
• Organizations seeking to enhance their strategic foresight and resilience.
• Professionals aiming to move beyond traditional risk management into proactive threat anticipation.

Course Objectives

Upon successful completion of the "Emerging Risk Management in Projects" training course, participants will be able to:

• Understand the concept of emerging risks and differentiate them from known or traditional project risks.
• Identify key categories of emerging risks, including geopolitical, technological, environmental, and social.
• Apply advanced scanning, foresight, and horizon-scanning techniques to anticipate potential emerging risks.
• Develop robust methodologies for assessing the likelihood and impact of unforeseen risks on project objectives.
• Master strategies for building project resilience and adaptability against emerging threats.
• Implement proactive mitigation and contingency planning for emerging risks.
• Understand the role of scenario planning and war-gaming in preparing for unforeseen events.
• Develop effective communication strategies for raising awareness and gaining buy-in for emerging risk management.
• Foster a culture of continuous learning and proactive risk sensing within project teams and the organization.
• Formulate a comprehensive action plan for integrating emerging risk management into their project and organizational risk frameworks.

Course Modules

Module 1: Understanding Emerging Risks in the Project Context

• Defining emerging risks: Novel, uncertain, difficult to quantify, potentially high impact.
• Distinguishing emerging risks from known risks and unforeseen events ("Black Swans").
• The VUCA (Volatility, Uncertainty, Complexity, Ambiguity) landscape: Why traditional risk management is insufficient.
• Sources of emerging risks: Geopolitical, technological, environmental, social, economic, regulatory.
• The Project Manager's evolving role in navigating the unknown.

Module 2: Strategic Foresight and Horizon Scanning for Projects

• Introduction to strategic foresight: Anticipating future trends and disruptions.
• Horizon scanning techniques: Environmental scanning, weak signal detection, trend analysis.
• Identifying drivers of change that could spawn new risks for projects.
• Scenario planning: Developing plausible future narratives to test project resilience.
• Tools for collaborative foresight and risk identification.

Module 3: Geopolitical and Socio-Political Risks

• Geopolitical instability: Conflicts, trade wars, sanctions, political unrest.
• Regulatory shifts and policy changes impacting projects.
• Social and demographic changes: Workforce shifts, inequality, public activism.
• Navigating cross-cultural and political sensitivities in international projects.
• Developing political risk assessments for project environments.

Module 4: Technological Disruption and Innovation Risks

• Rapid technological advancements: AI, quantum computing, biotech, automation.
• Cybersecurity threats: Advanced persistent threats, supply chain attacks, data breaches.
• Ethical implications of new technologies (e.g., AI bias, data privacy).
• Disruption of existing business models and project assumptions by new tech.
• Managing the risks of adopting unproven technologies.

Module 5: Environmental and Climate-Related Risks

• Physical risks: Extreme weather events, climate change impacts (sea level rise, resource scarcity).
• Transition risks: Policy changes, market shifts towards green economies.
• Supply chain vulnerabilities due to environmental factors.
• Resource scarcity and price volatility.
• Integrating climate risk assessments into project planning.

Module 6: Advanced Risk Assessment and Modeling

• Qualitative and quantitative methods for assessing emerging risks.
• Using expert judgment, Delphi technique, and structured brainstorming.
• Developing risk scenarios and impact analysis for unforeseen events.
• Probabilistic modeling and simulation for highly uncertain risks.
• Beyond traditional risk matrices: Adapting for emerging risks.

Module 7: Building Project Resilience and Adaptability

• Principles of organizational and project resilience: Robustness, recovery, adaptability, transformability.
• Designing projects for flexibility and optionality (e.g., modular design, real options).
• Implementing agile and iterative approaches to respond to new risks.
• Creating redundancy and buffers where fragility is high.
• Fostering a culture of learning and continuous adaptation.

Module 8: Mitigation Strategies and Contingency Planning

• Proactive measures to reduce exposure to emerging risks.
• Developing flexible contingency plans and playbooks for unforeseen scenarios.
• Building diversified supply chains and strategic partnerships.
• Stress testing project plans against severe emerging risk scenarios.
• The role of insurance and financial hedging for emerging risks.

Module 9: Communication and Governance for Emerging Risks

• Communicating complex and uncertain emerging risks to stakeholders.
• Gaining executive buy-in and resource allocation for managing unknown risks.
• Establishing clear governance structures for emerging risk oversight.
• The role of a central "risk intelligence" function or PMO.
• Fostering cross-functional collaboration in risk sensing and response.

Module 10: Future-Proofing Projects and Personal Leadership

• Continuous environmental scanning and risk intelligence gathering.
• Developing a "risk sensing" network within the organization.
• Post-mortem analysis of near misses and actual emerging risk events.
• Personal leadership in ambiguity: Curiosity, critical thinking, courage.
• Creating a personalized action plan for integrating emerging risk management into your projects.

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com