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Understanding Risks In Project Management

Examine the evolution of risk management into a structured discipline within project management, highlighting, the limitations of expert predictions and the value of systematic tools and methodologies.

NoonPi: An Introduction to Project Management for Engineers

Credit: 1 PDH

Price: $0.00

Wednesday, July 30, 2025
Start Time: 12:00pm Eastern (11:00am CT, 10:00am MT, 09:00am PT)

Webinar Information

Course Number: NP-F-G-1050W
Scheduled: Jul 30, 2025 at 12:00pm ET

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Understanding Risks in Project Management

Risk management has evolved into a cornerstone of modern project management, distinguishing itself from traditional practices that often relied on providence or rudimentary methods of prediction. This presentation delves into the historical progression from reliance on chance to the systematic approach of evaluating and addressing risk that emerged with the Age of Enlightenment.

As an integral part of project management today, risk assessment demands thorough analysis and professional rigor, often involving specialists navigating complex scenarios. However, an intriguing paradox remains: the accuracy of expert predictions can sometimes rival random guesswork. Studies have shown that groups of well-informed individuals may occasionally outperform specialists, raising questions about the nature of expertise in risk assessment.

This presentation will explore the challenges faced by engineers and project managers in risk evaluation, emphasizing tools and methodologies provided by institutions like the Project Management Institute, such as risk registers and structured approaches to identifying and mitigating major issues. By understanding the intricacies of risk management, professionals can better prepare for uncertainties in their projects and enhance decision-making in critical situations.

What you’ll learn in just one hour:

  • The origins and development of Risk Management

  • How to create a Risk Management Plan

  • The differences between Qualitative and Quantitative risk analysis, and when to use each

  • Some reasons for Risk Management failure

Benefits of Noon Pi webinars:

      1. You don’t have to leave your office. The entire training session is conducted from the convenience of your desk or meeting room.
      2. No fancy technology required. A computer or smart phone with a good Internet connection is all the equipment you need. Just log in and start learning.
      3. No wasted time. Our compact, one–hour sessions fit into the busiest of schedules. In no time, you’re back on the job using the wealth of relevant information you gained.
      4. Earn PDH credit. Webinars earn PDH credit for engineers in all states, unless noted otherwise in the literature for a specific webinar.  For more details, check your state requirements.
      5. You have nothing to lose. Noon Pi webinars are offered to engineers free of charge!

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