Risk management is the discipline of managing known unknowns and unknown unknowns. This important function should be performed on all projects, but often professionals are unsure how to do so effectively. Risk Management is an essential component of planning and is vital to the execution of all projects, programs, and portfolios, whether small or large,” states Te Wu, CEO of PMO Advisory. “The central question becomes how can project professionals manage risks effectively, complete projects successfully, and deliver intended goals?”
The prime directive for project risk management is to minimize unknowns, more commonly called surprises. This is true whether the surprises are positive or negative, known or unknown. In today’s large scale, complex projects, risks occur frequently. When managed poorly, risks can endanger projects, often silently, until the threats materialize. The differences between good and great project managers often lie in their abilities to exploit positive risks (or opportunities) while minimizing negative risks (or threats).
At its core the word risk within project management refers to future conditions or circumstances that exist outside of the control of the project team that will have an adverse impact on the project if they occur. A proactive Project Manager tries to resolve potential problems before they occur and risk management is a proactive process that is invoked to attempt to manage these potential problems before they occur, and therefore increase the likelihood of success on the project. From the moment a project idea is conceived to the final steps of project closure, risk is an inherent characteristic of any project. This course takes participants through the risk management processes of planning for, identifying, analyzing, responding to, and monitoring risks throughout the life of the project. This course is consistent with the risk management processes and techniques in PMI® ’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide).
Everything about Project Risk Management and PMI-RMP® Certification
Summary: This webinar is designed for people who are serious about the management of unknowns, especially on complex or high-stake projects. The webinar will highlight:
- The ubiquity of risk in complex projects
- The processes of identifying, evaluating, and planning risk response
- How risk management credentials enhance the credentials of all project professionals, especially those already possessing PMP
- The latest development by the Project Management Institute and the new Global Standard of Risk Management for Projects, Programs, and Portfolios
- And for professionals who are serious about this specialization, we will provide a detailed overview of the Project Management Institute’s Risk Management Professional (PMI-RMP) certification
The Project Management Institute is best known for its PMP® credential, but PMI also offers the Risk Management Professional® certification for project risk, governance, and compliance professionals. This PMI-RMP certification recognizes the professional’s 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.
This course provides participants with a solid foundation to pass the PMI-RMP exam. During class, participants will be introduced to key project risk management concepts and practices with sample exam questions. Participants will also engage in relevant discussions focusing on project risk management topics and best practices to enhance the learning experience and prepare for the exam. To receive the PMI-RMP certification you must pass the PMI-RMP exam that focuses on the following domains:
- Domain 1: Risk Strategy and Planning
- Domain 2: Stakeholder Engagement
- Domain 3: Risk Process Facilitation
- Domain 4: Risk Monitoring and Reporting
- Domain 5: Perform Specialized Risk Analyses
Upon obtaining the PMI-RMP certification you will find yourself highly marketable for positions in Project Management for a variety of organizations, especially Fortune 500 organizations and government entities due to the complexity of the content covered in this level of risk management.
Course Objectives
In this boot camp style course, you will receive a comprehensive introduction to project risk and cover the five primary PMI-RMP exam objectives.
- Risk and Strategy Planning – activities related to developing policies, processes, and procedures for risk assessment, planning, and response
- Stakeholder Engagement – activities related to promoting the understanding of project risk management for stakeholders and project team members, assessing stakeholder risk tolerance, prioritizing project risk, and promoting risk ownership
- Risk Process Facilitation – activities related to facilitating risk identification, evaluation, prioritization, and response among project team members
- Risk Monitoring and Reporting – activities related to monitoring risk, evaluating risk response against established metrics, and communicating risk response performance to stakeholders and project teams
- Perform Specialized Risk Activities – activities related to the specialized quantitative and qualitative tools and techniques used by project risk management professionals
- Tips, tricks and techniques for passing the PMI-RMP exam
Who will benefit from the course?
If you are looking to fill the risk management specialist role on your project team and if you are looking for a course that will add value to your PM skills and showcase your specialized expertise to employers, the PMI-RMP credential is for you.
- CEOs, CFOs, COOs, VPs, AVPs, GMs, DGMs
- Procurement Professionals, Information & Information Security Professionals, Project Management Professionals
- Team Leaders / Members, Field Staff Members, Design Engineers, Manufacturing Engineers, Software Developers
- Quality & Testing Engineers, Sales & Marketing professionals
- Program Managers, Portfolio Managers, Project Engineers
- Venture Capitalists, Bankers, Financial Analysts, Accountants
Prerequisites
- Secondary degree (high school diploma, associate’s degree, or the global equivalent)
- 4,500 hours of project risk management experience
- 40 hours of project risk management education
OR
- Four-year degree (bachelor’s degree or the global equivalent)
- 3,000 hours of project risk management experience
- 30 hours of project risk management education
This course is based on a combination of both worlds: expert and certified instructor from PMO Advisory and extensive materials from our training partner, which is another PMI R.E.P. This way, you benefit from receiving expertise from two PMI Registered Education Providers. This course meets the training requirement of 30 hours, a pre-requisite to qualifying for the certification:
Our course is 12-14 hours. For the Intelicamp (live virtual class) and pre-recorded, the course is 12 hours. For the the classroom, it is 14 hours.
From our training partners, we purchase the following:
- Extensive 50+ videos – minimum of 8 hours
- Lessons, quizzes, flashcards, and even the common terms – minimum of 20 hours
- Practice quizzes, about 100 pre assessment and 100 post assessment questions – minimum of 4 hours
