By the end of the program, participants will be able to:

• Describe and understand all Risk Management defined processes, as outlined in the PMI® PMBOK® Guide Fourth Edition
• 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
• Be more focused and proactive about preventing problems, rather than just dealing with them as they occur

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 

Plan Risk Management Process

• Creating a Risk Management Plan (RMP)
• Analyzing contents of a model RMP
• Applying a standard template to create your RMP 

The Identify Risks Process

• 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 

The Perform Qualitative Risk Analysis Process

• 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 
• The Perform Quantitative Risk Analysis Process
• 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 

The Plan Risk Responses Process

• Implementing risk response strategies
• Threats: Accept, Avoid, Transfer and Mitigate
• Opportunities: Exploit, Share, Enhance
• Quantifying residual risks and secondary responses
• Creating contigency plans
• Determining the worst case scenario
• Recalculating confidence levels
• Finalizing risk budget 

The Monitor And Control Risks Process

• 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 processPMI®, PMBOK® and PMP® are registered marks of the Project Management Institute, Inc.
• BTS has been reviewed and approved as a provider of project management training by the Project Management Institute (PMI®)

This course serves in preparing the participants to qualify for the Project Management Institute Risk Management Professional (PMI-RMP) exam.

This course is also for any individual, who is engaged in risks management profession with a minimum of one year of experience as a risk management practitioner. Risk managers, project managers and line managers will benefit from this course.