PMI Risk Management Professional (PMI-RMP)® Exam Preparation

To apply for the PMI-RMP® Credential, you need:

• Four-year degree (bachelor’s degree or the global equivalent)
• 3,000 hours of project risk management experience 
• 30 hours of project risk management education

This course aims to enable participants to plan, manage and control project risks. By attending, participants will acquire the knowledge to develop project risk management plans, identify project risks, analyze the identified risks and plan responses for them. They will also learn to analyze the risks qualitatively and quantitively using different practical techniques and learn all the critical tools and techniques required to pass the PMI-RMP®  (Risk Management Professional) certification exam.

Course Objectives
 

By the end of the course, participants will be able to:

• Define the basic terms related to risk and establish a solid risk management framework
• Set up plans for risk management and manage the risk register
• Identify project risks using different techniques
• Perform a qualitative risk analysis to determine the overall project risk score
• Complete a quantitative risk analysis by utilizing techniques such as Monte Carlo simulation and decision tree analysis
• Develop effective response strategies for positive and negative risks according to their priorities
• Review and control project risks through reassessments and audits

Target Audience
 

This course has been designed for project risk managers, risk owners, project managers, members of the project office, project sponsors, functional managers, senior management and individuals interested in project risk management.

Target Competencies
 

• Planning risks
• Identifying risks
• Assessing risks
• Evaluating responses
• Monitoring and reporting risks

• Introduction to Project Risk Management
  • Definitions of risk  
  • Pure and business risks
  • Benefits of project risk management
  • Project risk management processes
• Risk Management Planning
  • Stakeholder risk appetite
  • Elements of the risk management plan
  • Risk breakdown structure
  • Defining risk probability and impact scales
• Identifying Project Risks
  • Brainstorming and Delphi techniques
  • SWOT analysis
  • Work Breakdown Structure (WBS)
  • Risk register
• Qualitative Risk Analysis
  • Risk probability and impact assessment
  • Risk ranking within the project
  • Risk urgency assessment
  • Project risk score
• Quantitative Risk Analysis
  • Probability distributions
  • Monte Carlo simulation
  • Sensitivity analysis
  • Expected Monetary Value (EMV)
  • Decision tree analysis
• Risk Response Strategies
  • Negative risk response strategies (threats)
  • Positive risk response strategies (opportunities)
  • Contingency planning strategy
  • Secondary and residual risks
• Implementing Responses and Monitoring Risks 
  • Risk audit
  • Risk reviews
  • Workarounds