Introduction

The overall aim of this course is to prepare participants for the Risk Management Professional (RMP) certification. Additionally, participants will be able to develop project risk management plans and risk registers. The course also aims at assisting participants in performing qualitative and quantitative assessments for developing appropriate risk responses. In line with the above, participants will devise key performance indicators for monitoring and controlling project risks.

Course Objectives:

• Review the RMP exam requirements and application process
• Define several risk key terms and develop a solid framework of risk management
• Plan risk management and manage the risk register
• Identify project risks using different techniques
• Evaluate qualitatively the identified project risks
• Estimate quantitatively the overall effect of risk on the objectives of the project
• Develop effective response actions that are appropriate to the priority of the project risks
• Review and control project risks through reassessments and audits
• Identify the leadership and communication competencies related to risk management

Target Audience:

Risk managers, project managers, members of project offices, project sponsors, functional managers, senior management, and individuals interested in RMP certification. This course is worth 30 Professional Development Units (PDUs).

Target Competencies:

• Risk reviewing
• Risk planning
• Motivating
• Risk identifying
• Leading
• Risk assessing
• Communicating

Course Outline:

Day (1) PMI-RMP credential overview

• The Project Management Institute (PMI)
• Credential overview
• Application process
• Exam overview
• Questions format

Day (2) Introduction to project risk

• PMBOK guide review
• Defining and classifying risk
• Approach to risk management
• Risk management critical success factors
• Project risk management processes

Planning risk management

• Steps to generating the risk management plan
• Planning meetings and analysis
• Risk register contents
• Risk register update cycle
• Managing the risk register

Day (3) Identifying risks

• Information gathering techniques
• Diagramming techniques
• Analysis techniques
• Seven basic tools of quality

Performing qualitative risk analysis

• Risk probability and impact assessment
• Risk probability and impact matrix
• Risk data quality assessment
• Risk categorization
• Risk urgency assessment

Day (4) Performing quantitative risk analysis

• Interviewing and understanding standard deviation
• Probability distributions
• Sensitivity analysis
• Expected monetary value analysis
• Decision tree analysis

Planning risk responses

• Risk response strategies
• Contingency response strategy
• Types of reserves
• Fallback plan

Day (5) Monitoring and controlling risks

• Risk reassessment
• Risk audits
• Variance and trend analysis
• Earned value management
• Reserve analysis

Risk communication and leadership

• Risk communication process
• General management and Leadership styles
• Motivational and management theories
• Conflict management