PMI-RMP® Risk Management Professional Certification Preparation Training
PMI’s Risk Management Professional (PMI-RMP®) credential is a response to project management’s increasing growth, complexity and diversity. Globally recognized and demanded, the PMI-RMP® fills the need for a specialist role in project risk management.
It recognizes your unique expertise and competency in assessing and identifying project risks, mitigating threats and capitalizing on opportunities, while still possessing a baseline knowledge and practical application in all areas of project management.
Overview of Project Risk Management
• Recognizing risk in all projects
• Using risk management best practices, tools and techniques to achieve project success
Designing Critical Platforms for Success
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
• Utilizing checklists
• Assessing high-level risks to the organization
Developing a Risk Register
• Analyzing contents of a model Risk Register
• Applying a proven template to create your Risk Register
• Communicating risks to stakeholders
• Documenting risks for future assessment
Improving Project Performance through Qualitative Analysis
Analyzing risks through qualitative measures
• Performing probability and impact analyses
• Applying the probability and impact matrix
• Advanced applications of qualitative analysis
Prioritizing analysis results
• Ranking project risks
• Differentiating between acceptable and unacceptable risks
Analyzing Risks Using Quantitative Methods
Quantifying effects of risk events on the project
• Determining probability of 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
Risk Response Planning
Implementing risk response strategies
• Accept
• Avoid
• Transfer
• Mitigate
• Exploit
• Share
• Enhance
• Quantifying residual risks and secondary responses
Creating contingency plans
• Determining the worst-case scenario
• Recalculating confidence levels
• Finalizing risk budget
• Applying a 7-step process to risk response planning
Making Decisions under Uncertainty
Psychological factors in decision-making
• Practical applications of Prospect Theory
• Recognizing bias with Utility Theory
Tools to enhance objectivity
• Maximizing returns through the use of payoff tables
• Applying decision trees with Precision Tree software
• Dealing with unknown risks using workarounds
Monitoring and Controlling Risk
Identifying emerging project risks
To apply for the PMI-RMP, you need to have either:
A four-year degree (bachelor’s or the global equivalent), with at least 3,000 hours of project risk management experience and 30 hours of project risk management education.
OR
A secondary diploma (high school or the global equivalent) with at least 4,500 hours of project risk management experience and 40 hours of project risk management education.
This workshop will help candidates prepare for the Risk Management Professional Exam offered by the Project Management Institute
The PMI-RMP® demonstrates skill and competence in the specialized area of project risk management. If you’re looking to fill the risk management specialist role on your project team, hone your basic project management skills and showcase your specialized expertise to employers, the PMI-RMP® credential is for you.
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