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
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.
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.
Project Management Process Group and Knowledge Area Mapping
Project Risk Management 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 Ri
Planning Risk Management (PMBOK6 Aligned)
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.
Plan Risk Management: Inputs, Tools & Techniques, and Outputs
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.
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.
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.
Risk management has two central roles, reducing uncertainty about identified risks, and determining appropriate responses for when risk events do occur.
Plan Risk Management: Data Flow Diagram
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.
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.
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.
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.
Sample Risk Breakdown Structure (RBS)
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.
Example of Definitions for Probability and Impacts
Example Probability and Impact Matrix with Scoring Scheme
In this exercise, you'll demonstrate your ability to effectively manage potential risks by planning ahead and assessing their impact, probability, and cause.
In this exercise, you'll demonstrate your ability to effectively manage potential risks by planning ahead and assessing their impact, probability, and cause.
Course project (optional)
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.
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)
In the second course you're going to learn what inputs you need to look at in order to identify risks.
Identify Risks: Inputs, Tools & Techniques, and Outputs
Identify Risks: Data Flow Diagram
After completing this topic, you should be able to identify the inputs to the Identify Risks process.
After completing this topic, you should be able to identify activities that should be part of a document analysis to identify project risks
After completing this topic, you should be able to identify guidelines for conducting a brainstorming session to identify project risks.
After completing this topic, you should be able to recognize when interviewing is a good method for gathering risk information
After completing this topic, you should be able to match types of causes of project risk with examples.
After completing this topic, you should be able to categorize items that would be used to perform a SWOT analysis
After completing this topic, you should be able to identify the questions that would be asked during an assumption and constraint analysis
After completing this topic, you should be able to identify two documents you may gather information from when using checklists to identify risks
After completing this topic, you should be able to identify the outputs of the Identify Risks process
After completing this topic, you should be able to demonstrate your understanding of the Identify Risks project management process
After completing this topic, you should be able to demonstrate your understanding of the Identify Risks project management process
Course Project (optional)
In the second course you're going to learn what inputs you need to look at in order to identify risks.
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)
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.
Perform Qualitative Risk Analysis: Inputs, Tools & Techniques, and Outputs
Perform Qualitative Risk Analysis: Data Flow Diagram
After completing this topic, you should be able to recognize the inputs you use to perform qualitative risk analysis.
After completing this topic, you should be able to identify the tools and techniques you can use for the Perform Qualitative Risk Analysis process
After completing this topic, you should be able to prioritize risks based on given probability and impact ratings
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
Perform Quantitative Risk Analysis: Inputs, Tools & Techniques, and Outputs
Perform Quantitative Risk Analysis: Data Flow Diagram
After completing this topic, you should be able to recognize the inputs to the Perform Quantitative Risk Analysis process
After completing this topic, you should be able to recognize examples of information you should gather about risks during an interview
After completing this topic, you should be able to identify the four common types of continuous distribution
Example S-Curve from Quantitative Cost Risk Analysis
After completing this topic, you should be able to identify the purpose of sensitivity analysis
Example Tornado Diagram
After completing this topic, you should be able to calculate the expected monetary value of a risk
After completing this topic, you should be able to describe how to interpret a cost risk simulation graph
Example Decision Tree
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
After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project
After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project
Course Project (optional)
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.
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)
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.
Plan Risk Responses: Inputs, Tools & Techniques, and Outputs
Plan Risk Responses: Data Flow Diagram
After completing this topic, you should be able to identify the inputs to the Plan Risk Responses process.
After completing this topic, you should be able to identify strategies for responding to negative risks.
After completing this topic, you should be able to identify strategies for responding to positive risks.
After completing this topic, you should be able to recognize examples of using contingent response strategy.
After completing this topic, you should be able to recognize the outputs of the Plan Risk Responses process.
Implement Risk Responses: Inputs, Tools & Techniques, and Outputs
Implement Risk Responses: Data Flow Diagram
After completing this topic, you should be able to recognize the purpose of the Implement Risk Responses process.
Monitor Risks: Inputs, Tools & Techniques, and Outputs
Monitor Risks: Data Flow Diagram
After completing this topic, you should be able to identify the inputs to the Monitor Risks process.
After completing this topic, you should be able to recognize examples of risk audit outcomes.
After completing this topic, you should be able to distinguish between technical performance analysis and reserve analysis measurement criteria.
After completing this topic, you should be able to recognize appropriate risk response strategies.
After completing this topic, you should be able to recognize the outputs of the Monitor Risks process.
After completing this topic, you should be able to demonstrate your understanding of the Plan Risk Responses, Implement Risk Responses, and Monitor Risk processes.
After completing this topic, you should be able to demonstrate your understanding of the Plan Risk Responses, Implement Risk Responses, and Monitor Risk processes.
Course Project (optional)
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.
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.
PMI Certification Info
PMBOK 7th Edition – August 2021 – What is changing?
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