Risk Management Certification Exam Preparation (RMP)

 

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Fee:

$400 per participants (plus GST), which cover course material.

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PDUs:

  • 14 PDUs

Venue in Calgary:

TBD

Calgary AB

Date:

24 & 25 March’18

09:00 am TO 05:00 pm

Course Description

Risk Management Professional Course is designed to help participants prepare for the PMI Risk Management Professional (PMI-RMP) exam. PMI’s Risk Management Professional (PMI-RMP) credential is a solution 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.

This certification recognizes the professionals’ unique expertise and competency in assessing and identifying project risks, mitigating threats and capitalizing on opportunities, while still possessing a core knowledge and practical application in all areas of project management. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals. Having a risk management plan is an important part of maintaining a successful and responsible company.

Through the use of project risk management, organizations can minimize the negative impacts of threats to its projects and maximize the upside impact of opportunities.

Course Objectives

Upon completion of the course, participants would be able to:

  • Describe and understand all Risk Management defined processes, as outlined in the PMI® PMBOK® Guide
  • 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

Course Outline

  • Overview of the PMI RMP Exam
    • Requirements
    • Domain Areas
  • Risk Management Overview
    • Definition of risks
    • Risk Breakdown structure (RBS)
    • Risk Categories
  • What You Need Before You Can Do Risk Management
    • 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)
  • The Risk Management Processes
    • Plan Risk Management
    • Identify Risks
    • Perform Qualitative Risk Analysis
    • Perform Quantitative Risk Analysis
    • Plan Risk Responses
    • Monitor and Control Risks
  • Risk Management Planning
    • Creating a Risk Management Plan (RMP)
    • Analyzing contents of a model RMP
    • Applying a standard template to create your RMP
  • Risks Identification
    • 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
  • Qualitative Risk Analysis
    • 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
  • Quantitative Risk Analysis
    • 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
  • Risk Responses Planning
    • 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
  • Monitoring And Control of Risks
    • 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