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LINECourse Description
The Project Management Institute (PMI)® offers a professional credential for project risk managers, known as the PMI Risk Management Professional (PMI-RMP)®. The PMI-RMP® is a competency–based credential which acknowledges and highlights the individual’s unique expertise to identify and assess project risks, mitigate threats and capitalize on opportunities to the project management profession than a general practitioner and yet, also maintains a basic level of competence in all areas of project management.
This learning course also serves to help participants prepare for the Project Management Institute’s (PMI®) Risk Management Professional (PMI-RMP®) exam with the understanding of project risk management according to the Project Management Body of Knowledge (PMBOK®) Guide – Seventh Edition.
Aligned with the PMI Risk Management Professional (PMI-RMP®) certification, this course provides the skills to identify and measure risks in project development and implementation. You learn to quantify risks and create risk response strategies to deliver projects that meet stakeholder expectations.
Select and Register for PMI RMP Exam Preparation
Instructor
- Overall 25+ years industry experience 15+ years of Portfolio, Program, and project management in systems engineering, service delivery management and production support & maintenance.
- Managing a program of 1200+ month effort with 80+ engineer team covering full life cycle from contract negotiation to product sustenance.
- Trained 450+ PgMP® (PMI – Program Management Professional) and PMI – Project Management Professional, RMP (Risk Management Professional) aspirants across the world.
- Certified Program Management Professional (PgMP®) and Project Management Professional (PMP). Good working knowledge of ISO9000 and CMMI.
- Worked in various management roles at global companies – SunMicrosystems, Infineon Technologies, Intec.
- Telecom BSS solution Delivery management from a team of 180+ engineers to clients across the world.
- Customer engagement: Pre-sales, proposal preparation, critical reviews, product development, verification, support and maintenance.
Course Objectives
Upon completion of this course, participants will be able to:
- 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 more focused and proactive about preventing problems, rather than just dealing with them as they occur
Who Should Attend
This course serves in preparing the participants to qualify for the Project Management Institute Risk Management Professional (PMI-RMP®) exam.
This course is also for any individual, who is engaged in risks management profession with a minimum of one year of experience as a risk management practitioner. Risk managers, project managers and line managers will benefit from this course.
Delivery Method
Instructor led, group-paced, classroom-delivery learning model
Prerequisites
No prerequisites required
Course Duration
30 hours
Course Outline
- Requirements
- Domain Areas
- Definition of risks
- Risk Breakdown structure (RBS)
- Risk Categories
- What do you need before you can effectively start risk management?
- How does risk management fit into the project management process and operations?
- What risk management is and why can it make or break your career
- Project risks and operation risks?
- Negative risks and positive risks (Opportunities)
- Plan Risk Management
- Identify Risks
- Perform Qualitative Risk Analysis
- Perform Quantitative Risk Analysis
- Plan Risk Responses
- Monitor and Control Risks
- Creating a Risk Management Plan (RMP)
- Analyzing contents of a model RMP
- Applying a standard template to create your RMP
- Identifying project risk
- Common sources of project risk
- Creating Ishikawa diagrams to analyze cause and effect relationship
- Checklists
- Developing a Risk Register
- Analyzing contents of a model Risk Register
- Applying a proven template to create your Risk Register
- Documenting risks for future assessments
- Analyzing risks through qualitative measures
- Performing probability and impact analyses of identified
- Applying the probability and impact matrix
- Advanced applications of qualitative analysis
- Prioritizing analysis results
- Ranking project risks
- Differentiating between acceptable and unacceptable risks
- 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 (EMW)
- Three-point estimates
- Probability distributions
- Delphi Technique
- Simulation
- 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
- 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
Download detailed course syllabus
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Senior Specialist -Digital Project Management The PMI ACP Exam Prep course by Project Victor is very helpful. The course helps facilitate complete and comprehensive knowledge necessary for the PMI Agile [...]
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