PMI® Risk Management Professional Guideline

(PMI-RMP)®

PMI® Risk Management Professional Guideline (PMI-RMP)®

Course Duration:      3 Days
Cost:                        Available on request
Program Material:    PMI® Practice Standard for Project Risk Management, Course Presentation Slides
                                Electronically and Printed, Practice Questions and All Case Studies and Cone of Learning
                                Games 
PMI® (PM043A) Contact Hours/Professional Development Units (PDU's):     21
​Course Overview
 
The programme aims to equip the participant to successfully manage strategic and operational risk in the organisation by introducing a systematical approach to Risk Management. Furthermore,  this learning course helps participants prepare for the Project exam with the Risk Management Professional® PMI®.  
 
With the understanding of project Risk Management, according to the Project Management Body Guide – 6th Edition (PMBOK®), this course provides the skills to identify and measure risks in project development and implementation. You will learn to quantify risks and create risk response strategies to deliver projects that meet stakeholder expectations.
Target Group
 

This course is aimed at those who are engaged in the profession of Risk Management, i.e. Risk Managers, Project Managers and Line Managers.

Learning Outcomes
  • Describe and understand all Risk Management defined processes, as outlined in the PMI® PMBOK® Guide Fifth Edition

  • Gain the necessary information to prepare for the PMI® Project Risk Management Professional (PMI RMP)® Certification Exam

  • Use internationally recognized best practices for managing project and operations risks

  • Apply Risk Management techniques to determine the true cost and schedule for projects and operations

  • Demonstrate the impact of successful Risk Management to the organization

  • Avoid common Risk Management pitfalls

  • Describe Risk Management principles and techniques and how they apply to the day-to-day management of projects and operations

  • Have a practical set of self-study techniques and bibliography of reference material

  • Use common Risk Management terminology

  • Be focused and proactive about preventing problems, rather than dealing with them as they occur

Course Content

Overview of the PMI® RMP® Exam

  • Requirements

  • Domain Areas

Plan Risk Management

  • Identify risks

  • Perform qualitative risk analysis

  • Perform quantitative risk analysis

  • Plan risk responses

  • Monitor and control risks

What You Need Before You Can Perform Risk Management

  • What do you need before you can effectively commence risk management?

  • How does Risk Management fit into the Project Management process and operations?

The Risk Management Processes

  • What Risk Management is and why it can make or break your career

  • Project risks and operation risks

  • Negative risks and positive risks (opportunities)

The Perform Qualitative Risk Analysis Process

  • Analyzing risks through qualitative measures

  • Performing probability and impact analyses of identified risks

  • Applying the probability and impact matrix

  • Advanced applications of qualitative analysis

  • Prioritizing analysis results

  • Ranking project risks

  • Differentiating between acceptable and unacceptable risks

The Plan Risk Responses Process

  • Implementing risk response strategies

  • Threats: accept, avoid, transfer and mitigate

  • Opportunities: exploit, share, enhance

  • Quantifying residual risks and secondary responses

  • Creating contingency plans

  • Determining the worst case scenario

  • Recalculating confidence levels

  • Finalizing risk budget

Risk Management Overview

  • Definition of risks

  • Risk Breakdown Structure (RBS)

  • Risk categories

Plan Risk Management Process

  • Creating a Risk Management Plan (RMP)

  • Analysing contents of a model RMP

  • Applying a standard template to create your RMP

The Identify Risks Process

  • Identifying project risk

  • Common sources of project risk

  • Creating Ishikawa diagrams to analyse cause and effect relationship

  • Checklists

  • Developing a risk register

  • Analysing contents of a model risk register

  • Applying a proven template to create your risk register

  • Documenting risks for future assessments

The Perform Quantitative Risk Analysis Process

  • Quantifying effects of risk events on the project

  • Determining probability of achieving cost and time objectives

  • Calculating contingency reserves

  • Identifying trends in quantitative analysis

  • Ranking risks by actuarial cost

  • Tools for analysis

  • Expected Monetary Value (EMV)

  • Three-point estimates

  • Probability distributions

  • Delphi technique

  • Simulation

The Monitor and Control Risks Process

  • Identifying emerging project risks

  • Matching identified project risk with controls including risk audit, variance reports, reserve analysis

  • Anticipating risk events through risk triggers

  • Measuring risk using earned value analysis (EVA)

  • Ensuring effective change control

  • Developing a reliable change request process

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PMI®, PMP®, Project Management Professional (PMP), CAPM, Certified Associate in Project Management (CAPM), PgMP®, Programe Management Professional(PgMP®) PMI-RMP®, PMI-RMP®, PMI Risk Management Professional (PMI-RMP®), PMI-ACP®, PMI Agile Certified Practitioner (PMI-ACP®), PMI-SP®, PMI Scheduling Professional (PMI-SP®), PMBOK® and the PMI Registered Education Provider logo are registered marks of the Project Management Institute, Inc.