Risk Management Professional (PMI-RMP)®

Live Online Training (Eastern Standard Time Zone) - Boston, MA, USA

 4 Days

 30 PDUs

RMP Live Online Training Course The PMI-RMP® Risk Management Professional Course empowers you to develop the knowledge and skills required to clear to your PMI-RMP® exam on the first attempt. Risk Management Professional (RMP)® certification demonstrates a professional’s specialization in assessing, identifying and controlling risks. This course will enable you to assess the risk velocity and help you to ascertain the route to risk mitigation by prior planning.

Risk Management Professional (PMI-RMP)® is a specialized credential offered by PMI in response to the growing need of professionals who specialize in project risk management.  Prepare for the PMI Risk Management Professional (PMI-RMP)® certification exam through this four day, instructor-led course. This course offers an in-depth look at risk management through a PMI perspective and is delivered in a combination of lecture and hands-on learning format (see Course Format below). All components of risk management will be covered including planning, identification, quantification, response planning, and monitoring and controlling risks.  Participants will learn to maximize the results of positive project events and minimize the consequences of adverse events, both internal and external to the project.

All students will be supplied with customized course materials and a course workshop that will help in preparing for the exam.  This workshop includes exercises and lots of sample questions that will build your confidence and raise your chances of passing the PMI-RMP® Exam on your first attempt.

Course Objectives

The Risk Management Training Course will:

Prepare delegates to sit for the PMI-RMP® Exam

Increase the likelihood of passing from the first attempt

Teach delegates about project risk management in detail so they can apply it in their own work.

Provide an opportunity to understand the risks inherent in projects and how to plan for them.

Course Format

The RMP® training course in Boston, MA, USA is presented as PowerPoint presentations via Zoom or MS Teams which is explained by the instructor while keeping students engaged. Illustrations, whiteboards, and other tools will be used to demonstrate the key points.  Students will also be given quizzes at each training section to solidify their knowledge, as well as additional practice questions to take home and prepare for the PMI-Risk Management Professional RMP® exam.

RMP Course Outline

Introduction to Risk Management Concepts

  • Objectives of risk management
  • Risk management and the project life cycle
  • Critical success factors
  • When to accept risk, and when to avoid

 

Principles and Concepts of Risk Management

  • Definition of risk & risk management
  • Stakeholder risk attitudes
  • Responsibilities for risk within projects

 

Introduction to PMI Risk Management Processes

  • Stakeholder risk tolerance
  • Overview of the risk management processes

 

Plan Risk Management

  • Purpose of risk management planning
  • Components of the risk management plan
  • Success criteria for risk planning
  • Barriers to successful risk planning
  • Risk Breakdown Structures (RBS)
  • Techniques for Risk Planning
  • The Risk Management Plan
  • Stakeholder Risk Tolerance & Thresholds

Identify Risks

  • Purpose, objectives & Critical success factors
  • Typifying risks
  • Risk identification techniques
  • Information GatheringTechniques
  • Checklist Analysis
  • Analyzing assumptions & constraints
  • Diagramming Techniques
  • Cause & Effect (Fishbone diagrams)
  • Risk triggers
  • The risk register
  • Determining which risk tool to use

Perform Qualitative Risk Analysis

  • Purpose, objectives & Critical success factors
  • Categorizing risks
  • Risk probability and impact, Risk score
  • P-I Matrix

Perform Quantitative Risk Analysis

  • Purpose, objectives & Critical success factors
  • Accounting for risk inter-relations in projects
  • Data Gathering & Representation techniques
  • Modeling & Simulation, Probability distribution
  • Monte Carlo Simulations, S- curves
  • Tornado diagrams, sensitivity analysis, criticality analysis
  • Decision trees
  • Risk Expected Monetary Value (EMV) calculation

Plan Risk Responses

  • Risk owners, risk action owners
  • Strategies for positive and negative risks
  • Risk & contracting
  • The risk response action plan
  • Contingency planning, calculating the contingency fund
  • Secondary & residual risks

Monitor and Control Risk

  • Risk re-assessment
  • Process improvement
  • Managing contingency reserves
  • Risk audits, trend analysis

Certificate of Completion

At the completion of this training program, attendees will each be awarded PMI Endorsed Certificates worth 30 Professional Development Units (PDU’s).

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