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The Risk Management Certification Program (PMI-RMP) (PMBOK6)

Planning Risk Management, Identifying Risk, Analyzing Risk and Responding to Risk by PMBOK6
Instructor:
Sorin Dumitrascu
1,485 students enrolled
English
Define what is meant by project risk
Recognize examples of project risk
Identify the three risk factors needed to reduce uncertainty
Recognize examples of common risk responses
Match the inputs to planning risk management with the information they provide
Identify the tools and techniques used for the Plan Risk Management process
Identify sections you should include in a risk management plan
Match elements of the risk management plan with examples
Distinguish between the three risk ratings in an ordinal scale
Demonstrate your understanding of the Plan Risk Management process
Identify the inputs to the Identify Risks process
Identify activities that should be part of a document analysis to identify project risks
Identify guidelines for conducting a brainstorming session to identify project risks
Recognize when interviewing is a good method for gathering risk information
Match types of causes of project risk with examples
Categorize items that would be used to perform a SWOT analysis
Identify the questions that would be asked during an assumption and constraint analysis
Identify two documents you may gather information from when using checklists to identify risks
Identify the outputs of the Identify Risks process
Demonstrate your understanding of the Identify Risks project management process
Recognize the inputs you use to perform qualitative risk analysis
Identify the tools and techniques you can use for the Perform Qualitative Risk Analysis process
Prioritize risks based on given probability and impact ratings
Recognize project documents that may need to be updated as a result of qualitative risk analysis
Recognize the inputs to the Perform Quantitative Risk Analysis process
Recognize examples of information you should gather about risks during an interview
Identify the four common types of continuous distribution
Identify the purpose of sensitivity analysis
Calculate the expected monetary value of a risk
Describe how to interpret a cost risk simulation graph
Identify the sections of the risk report you typically update as a result of the Perform Quantitative Risk Analysis process
Demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project
Identify the inputs to the Plan Risk Responses process
Identify strategies for responding to negative risks
Recognize examples of using contingent response strategy
Recognize the outputs of the Plan Risk Responses process
Recognize the purpose of the Implement Risk Responses process
Identify the inputs to the Monitor Risks process
Recognize examples of risk audit outcomes
Distinguish between technical performance analysis and reserve analysis measurement criteria
Recognize appropriate risk response strategies
Recognize the outputs of the Monitor Risks process
Demonstrate your understanding of the Plan Risk Responses, Implement Risk Responses, and Monitor Risk processes

Welcome to the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Planning Risk Management, Identifying Risk, Analyzing Risk and Responding to Risk.

In the Planning Risk Management section of this program on the project risk management knowledge area we’re going to learn about how to plan for risks on a project to make sure that when negative things do happen, we’re ready for them.

The Identifying Risk covers the inputs you need to look at in order to identify risks. And how to use several techniques, such as Data Analysis methods, like SWOT Analysis, and Assumption, and Constraint Analysis, to help you develop an effective risk register.

In the Analyzing Risk section, we’ll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis.

The Responding to Risk covers the final three processes in the project risk management knowledge area. Plan risk responses, implement risk responses and monitor risks. You’ll learn about some common risk response strategies and how to monitor and control risks as they occur.

All instructional activities will earn you the necessary for PMI certification and credential maintenance if you already are a certified PMI Risk Management Professional or Project Management Professional.

So, if you are a project professional and you want to improve your risk management skills, this course is for you. If you are an entrepreneur, a student, a manager or, you just want to learn and develop risk management skills, this course is for you.

Now, go ahead and press that “Take this course” button and see you on the inside!

The Risk Management Certification Program

1
Program Overview

This is a series of 4 courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Planning Risk Management, Identifying Risk, Analyzing Risk and Responding to Risk.

2
Course Guidelines

You might know this. I’m adding it to any course in the introductory section. But, just in case, some suggestions to improve your learning.

3
Project Management Process Group and Knowledge Area Mapping

Project Management Process Group and Knowledge Area Mapping

4
Project Risk Management Overview

Project Risk Management Overview

5
The Risk Management Certification Program

This is a series of 4 courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Planning Risk Management, Identifying Ri

Planning Risk Management (PMBOK6 Aligned)

1
Course Overview

The Planning Risk Management is part of a series of courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Identifying Risk, Analyzing Risk and Responding to Risk.

2
Plan Risk Management: Inputs, Tools & Techniques, and Outputs

Plan Risk Management: Inputs, Tools & Techniques, and Outputs

3
Understanding Project Risk

The projects you'll manage will face many different risks. First of all, let's define what we mean by risk. Project risks have two characteristics. They're events that might happen, and they have the potential to impact one or more of the project objectives.

4
Types of Project Risks

In this topic we're going to use our definition of project risk to examine more closely what it means that project objectives would be impacted by unforeseen events.

5
Reducing the Uncertainty of Risk

For risk management to succeed, you must respond proactively to risks. If you only respond once an event occurs, you will waste time and resources needlessly trying to manage it.

6
Understanding Risk Responses

Risk management has two central roles, reducing uncertainty about identified risks, and determining appropriate responses for when risk events do occur.

7
Plan Risk Management: Data Flow Diagram

Plan Risk Management: Data Flow Diagram

8
Inputs to Plan Risk Management

The Inputs to this process are Project charter, Project management plan, which includes All components, Project documents, which include Stakeholder register, Enterprise environmental factors, and Organizational process assets.

9
Tools and Techniques to Plan Risk Management

Imagine trying to manage a project where you aren't sure what the project's potential risks are. In order to effectively monitor and control the risks on a project, it is important to first plan for potential risks. To do so, you use specific tools and techniques. 

10
The Risk Management Plan

The plan risk management process has one output, the risk management plan. A typical risk management plan includes several important sections which are Methodology, Roles and Responsibilities, Budgeting, Timing, Reporting Formats, Tracking, and Risk Categories.

11
Sample Risk Management Plan

The risk management plan contains the overall plan for managing risk throughout the project's life cycle, broken down into different sections. In this topic, we're going to walk through a simple risk management plan. Tina is a project manager for a large urban hospital. 

12
Sample Risk Breakdown Structure (RBS)

Sample Risk Breakdown Structure (RBS)

13
The Risk Probability and Impact Matrix

An important part of the risk management plan is a section that defines how probability and impact will be defined for your particular project. This topic explains how to develop those definitions and create a probability and impact matrix. 

14
Example of Definitions for Probability and Impacts

Example of Definitions for Probability and Impacts

15
Example Probability and Impact Matrix with Scoring Scheme

Example Probability and Impact Matrix with Scoring Scheme

16
Exercise: Planning Risk Management (1)

In this exercise, you'll demonstrate your ability to effectively manage potential risks by planning ahead and assessing their impact, probability, and cause. 

17
Exercise: Planning Risk Management (2)

In this exercise, you'll demonstrate your ability to effectively manage potential risks by planning ahead and assessing their impact, probability, and cause. 

18
Course project (optional)

Course project (optional)

19
Planning risk management

The Planning Risk Management is part of a series of courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Identifying Risk, Analyzing Risk and Responding to Risk.

20
Planning risk management

The Planning Risk Management is part of a series of courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Identifying Risk, Analyzing Risk and Responding to Risk.

Identifying Risk (PMBOK6 Aligned)

1
Course Overview

In the second course you're going to learn what inputs you need to look at in order to identify risks.

2
Identify Risks: Inputs, Tools & Techniques, and Outputs

Identify Risks: Inputs, Tools & Techniques, and Outputs

3
Identify Risks: Data Flow Diagram

Identify Risks: Data Flow Diagram

4
Inputs to Identify Risks

After completing this topic, you should be able to identify the inputs to the Identify Risks process.

5
Document Analysis

After completing this topic, you should be able to identify activities that should be part of a document analysis to identify project risks

6
Brainstorming to Gather Data

After completing this topic, you should be able to identify guidelines for conducting a brainstorming session to identify project risks.

7
Using Interviewing to Identify Risks

After completing this topic, you should be able to recognize when interviewing is a good method for gathering risk information

8
Using Root Cause Analysis to Identify Risks

After completing this topic, you should be able to match types of causes of project risk with examples.

9
Using SWOT Analysis to Identify Risks

After completing this topic, you should be able to categorize items that would be used to perform a SWOT analysis

10
Using Assumption and Constraint Analysis

After completing this topic, you should be able to identify the questions that would be asked during an assumption and constraint analysis

11
Using Checklists to Identify Risks

After completing this topic, you should be able to identify two documents you may gather information from when using checklists to identify risks

12
Outputs of Identify Risks

After completing this topic, you should be able to identify the outputs of the Identify Risks process 

13
Exercises - Identifying Risk (1)

After completing this topic, you should be able to demonstrate your understanding of the Identify Risks project management process

14
Exercises - Identifying Risk (2)

After completing this topic, you should be able to demonstrate your understanding of the Identify Risks project management process

15
Course Project (optional)

Course Project (optional)

16
Identifying Risk

In the second course you're going to learn what inputs you need to look at in order to identify risks.

17
Identifying Risk

In the second course you're going to learn what inputs you need to look at in order to identify risks. 

Analyzing Risk (PMBOK6 Aligned)

1
Course Overview

In the third course, we'll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis.

2
Perform Qualitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

Perform Qualitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

3
Perform Qualitative Risk Analysis: Data Flow Diagram

Perform Qualitative Risk Analysis: Data Flow Diagram

4
Inputs to Perform Qualitative Risk Analysis

After completing this topic, you should be able to recognize the inputs you use to perform qualitative risk analysis.

5
Qualitative Risk Analysis Tools and Techniques

After completing this topic, you should be able to identify the tools and techniques you can use for the Perform Qualitative Risk Analysis process

6
Risk Probability and Impact Assessment

After completing this topic, you should be able to prioritize risks based on given probability and impact ratings 

7
Outputs of Perform Qualitative Risk Analysis

After completing this topic, you should be able to recognize project documents that may need to be updated as a result of qualitative risk analysis 

8
Perform Quantitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

Perform Quantitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

9
Perform Quantitative Risk Analysis: Data Flow Diagram

Perform Quantitative Risk Analysis: Data Flow Diagram

10
Inputs to Perform Quantitative Risk Analysis

After completing this topic, you should be able to recognize the inputs to the Perform Quantitative Risk Analysis process 

11
Gathering Quantitative Risk Data

After completing this topic, you should be able to recognize examples of information you should gather about risks during an interview 

12
Representing Uncertainty

After completing this topic, you should be able to identify the four common types of continuous distribution 

13
Example S-Curve from Quantitative Cost Risk Analysis

Example S-Curve from Quantitative Cost Risk Analysis

14
Sensitivity Analysis for Quantitative Data

After completing this topic, you should be able to identify the purpose of sensitivity analysis 

15
Example Tornado Diagram

Example Tornado Diagram

16
Decision Tree Analysis

After completing this topic, you should be able to calculate the expected monetary value of a risk 

17
Simulations

After completing this topic, you should be able to describe how to interpret a cost risk simulation graph 

18
Example Decision Tree

Example Decision Tree

19
Risk Report Updates

After completing this topic, you should be able to identify the sections of the risk report you typically update as a result of the Perform Quantitative Risk Analysis process 

20
Exercise - Analyzing Risk Data (1)

After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project 

21
Exercise - Analyzing Risk Data (2)

After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project 

22
Course Project (optional)

Course Project (optional)

23
Analyzing Risk

In the third course, we'll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis. 

24
Analyzing Risk

In the third course, we'll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis.

Responding to Risk (PMBOK6 Aligned)

1
Course Overview

The fourth course covers the final three processes in the project risk management knowledge area. Plan risk responses, implement risk responses and monitor risks. You'll learn about some common risk response strategies and how to monitor and control risks as they occur.

2
Plan Risk Responses: Inputs, Tools & Techniques, and Outputs

Plan Risk Responses: Inputs, Tools & Techniques, and Outputs

3
Plan Risk Responses: Data Flow Diagram

Plan Risk Responses: Data Flow Diagram

4
Inputs to Plan Risk Responses

After completing this topic, you should be able to identify the inputs to the Plan Risk Responses process.

5
Strategies for Negative Risks or Threats

After completing this topic, you should be able to identify strategies for responding to negative risks.

6
Strategies for Positive Risks or Opportunities

After completing this topic, you should be able to identify strategies for responding to positive risks.

7
Contingency Planning

After completing this topic, you should be able to recognize examples of using contingent response strategy.

8
Outputs of Plan Risk Responses

After completing this topic, you should be able to recognize the outputs of the Plan Risk Responses process.

9
Implement Risk Responses: Inputs, Tools & Techniques, and Outputs

Implement Risk Responses: Inputs, Tools & Techniques, and Outputs

10
Implement Risk Responses: Data Flow Diagram

Implement Risk Responses: Data Flow Diagram

11
The Implement Risk Responses Process

After completing this topic, you should be able to recognize the purpose of the Implement Risk Responses process.

12
Monitor Risks: Inputs, Tools & Techniques, and Outputs

Monitor Risks: Inputs, Tools & Techniques, and Outputs

13
Monitor Risks: Data Flow Diagram

Monitor Risks: Data Flow Diagram

14
Inputs to Monitor Risks

After completing this topic, you should be able to identify the inputs to the Monitor Risks process.

15
Risk Audits

After completing this topic, you should be able to recognize examples of risk audit outcomes.

16
Data Analysis for Monitoring Risks

After completing this topic, you should be able to distinguish between technical performance analysis and reserve analysis measurement criteria.

17
Determining Appropriate Risk Responses

After completing this topic, you should be able to recognize appropriate risk response strategies.

18
Outputs of Monitor Risks

After completing this topic, you should be able to recognize the outputs of the Monitor Risks process.

19
Exercise - Planning and Responding to Risks (1)

After completing this topic, you should be able to demonstrate your understanding of the Plan Risk Responses, Implement Risk Responses, and Monitor Risk processes.

20
Exercise - Planning and Responding to Risks (2)

After completing this topic, you should be able to demonstrate your understanding of the Plan Risk Responses, Implement Risk Responses, and Monitor Risk processes.

21
Course Project (optional)

Course Project (optional)

22
Responding to Risk

The fourth course covers the final three processes in the project risk management knowledge area. Plan risk responses, implement risk responses and monitor risks. You'll learn about some common risk response strategies and how to monitor and control risks as they occur.

23
Responding to Risk

The fourth course covers the final three processes in the project risk management knowledge area. Plan risk responses, implement risk responses and monitor risks. You'll learn about some common risk response strategies and how to monitor and control risks as they occur.

24
PMI Certification Info

PMI Certification Info

25
PMBOK 7th Edition – August 2021 – What is changing?

PMBOK 7th Edition – August 2021 – What is changing?

26
Bonus Lecture

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