Controlling Project Risk

A critical part of Project Management is the ability to control costs even when uncertainty prevails.  The tight connection between cost and risk management forces the Project Manager to plan and respond decisively.  Failing to anticipate or appropriately respond to risks can make the project over budget, behind schedule, or mired in litigation.  With effective use of cost and risk management processes, a Project Manager can deliver project objectives, even in a severely constrained environment.  

In this seminar, you will gain a practical understanding of the “Project Cost Management” and “Project Risk Management” knowledge areas of the Project Management Body of Knowledge (PMBOK® Guide, Fifth Edition).  Participants will experience using the Earned Value Management (EVM) to measure and control project progress.  

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The following topics are covered in this course:

  • Project Management Essentials
  • Project Cost Management
  • Project Risk Management


  • Project Manager
  • Director of Project Management
  • Member of the Project Management Office 
  • Project Cost Accountant
  • Business Analyst
  • Director of Operations
  • Finance Manager
  • Leader of an IT system implementation/upgrade project
  • Leader of a team that must implement a strategic initiative or process improvement
  • Candidate for the Project Management Professional (PMP) accreditation


  • Create a cost management plan
  • Develop cost baseline and control account plan
  • Apply Earned Value Management (EVM) technique
  • Establish Estimate At Completion (EAC)
  • Identify risks
  • Analyze risks qualitatively and quantitatively
  • Develop a risk response and contingency plan
  • Measure schedule and cost Performance
  • Know what, when and how to take corrective action

Duration & Format

2 days (12 hours)

This workshop can be conducted at your location or in our Midwest training lab (12140 Woodcrest Executive Drive; St. Louis, MO. 63141).

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