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Project Risk Management: Preparation for Risk Management Professional (PMI-RMP)®

Project Risk Management: Preparation for Risk Management Professional (PMI-RMP)®

Why Attend

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.

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Course Methodology

The course uses interactive techniques, such as brief presentations by consultant and participants. The course also features several group exercises and simulations and a question bank that will help the participants practice for the 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

Meirc has been reviewed and approved by the PMI® Authorized Training Partner Program. This course is worth 30 Professional Development Units (PDUs).

Course Outline
  • 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
Schedule & Fees