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Course Information

PMI Risk Management Professional PMI-RMP®​ Course Outline

Domain 1: Risk Strategy and Planning

Module 1: Risk Assessment Processes

  • Develop Risk Assessment Processes
  • Tools that Quantify Stakeholder Risk Tolerances
  • Determine Risk Thresholds for the Project
  • Set Criteria for Risk Levels

Module 2: Risk Policies and Procedures

  • Scope of Risk Management Policies
  • Outputs of Risk Audits
  • Improve Risk Management Effectiveness

Module 3: Develop Risk Strategy

  • Develop and Recommend Project Risk Strategy

Module 4: Creating Risk Management Plan

  • Risk Management Plan
  • Project Information
  • External Factors
  • Stakeholder Inputs
  • Industry Policies and Procedures

Module 5: Establish Evaluation Criteria for Risk Management Processes

  • When Should You Create Evaluation Criteria?
  • Measure Effectiveness of the Project Risk Process

Domain 2: Stakeholder Engagement

Module 1: Common Understanding of the Value of Risk Management

  • Value of Risk (VoR)

Module 2: Risk Principles and Processes

  • Risk Principles
  • Risk Processes

Module 3: Implementing Risk Processes

  • Identify the Risk
  • Analyse the Risk
  • Evaluate and Rank the Risk
  • Treat the Risk
  • Monitor and Review the Risk

Module 4: Identify Stakeholder Risk Attitudes

  • Factors that Affect the Risk Attitude
    • Risk Appetite
    • Risk Tolerance
    • Risk Threshold

Module 5: Risk Prioritisation Process

  • Describing Risk Levels

Module 6: Risk Process Facilitation and Risk Reporting

  • Risk Process Facilitation
    • Characteristics of the Facilitator
  • Risk Reporting
    • Why Is Risk Reporting Important?

Module 7: Roles and Responsibilities of Stakeholder

  • Executive Sponsor
  • Project Lead
  • Project Coordinator
  • Functional/Technical Lead
  • Team Member (Subject Matter Experts - SMEs)

Module 8: Effective Communication Techniques

  • Ways to Effectively Communicate with Stakeholders
    • Schedule a Meeting
    • Send Out a Newsletter
    • Separate Online “Screen to Screen” Meetings
    • Project Summary Report
    • Schedule a Conference Call
    • Lunch meetings

Domain 3: Risk Process Facilitation

Module 1: Determine Risk Levels

  • Why Should Project Managers Determine Risk?
  • How does a Project Manager Determine the Risk Level of a Project?

Module 2: Determine the Risk Exposure of the Project

  • How to Calculate Risk Exposure?
  • Various Types of Risk Exposures

Module 3: Development of an Aligned Risk Response Strategy

  • Strategies for Handling Operational, Strategic, Legal or Any Other Risks You Recognise in Your Organisation
    • Avoid
    • Reduce
    • Transfer
    • Accept

Module 4: Project Contingency Reserve

  • Contingency

Module 5: Cost and Schedule Analysis

  • Defining Cost and Schedule Risk Analysis
  • Why Conduct Cost and Schedule Risk Analysis?

Module 6: Enhance the Likelihood of Project Success

  • Organising Every Aspect
  • Thorough Analysing and Strict Management
  • Accounting and Budgeting
  • Revising and Adapting

Domain 4: Risk Monitoring and Reporting

Module 1: Techniques to Maintain Project Risk Information

  • Create a Risk Register
  • Identify Risks
  • Identify Opportunities
  • Determine Likelihood and Impact
  • Determine the Response
  • Estimation
  • Assign owners
  • Regularly Review Risks
  • Report on Risks

Module 2: Integrating Risk Management

Module 3: Risk Related Metrics

  • Some Primary Metrics Which are Related to Risks

Module 4: Monitoring Risk Metrics

  • Risk Metrics Reporting
  • Importance of Risk Metrics and Risk Indicators
  • Example of Key Risk Indicators

Module 5: Analyse Risk Process Using Risk Metrics

  • Combination of Measures

Module 6: Internal and External Inputs in Risk management

  • Inputs of The Planning Risk Management Process
    • Project Scope Statement
    • Cost Management Plan
    • Schedule Management Plan
    • Communication Management Plan
    • Enterprise Environmental Factors
    • Organisational Process Assets

Module 7: Risk Audits and Risk Process Reports

  • Risk Audits
    • Application
    • Procedures
  • Risk Process Reports

Domain 5: Perform Specialised Risk Analyses

Module 1: Evaluate the Attributes of Identify Risks

  • Methods of Qualitative Risk Assessment
  • Methods of Quantitative Risk Analysis
  • Calculating Risk Exposure Quantitatively
  • Estimating Risk Exposure Qualitatively

Module 2: Analysing Risk Data Using Statistical Analysis

  • Steps of General Process of the Project Management Analytics

Module 3: Advanced Tools for Risk Analysis

  • Qualitative Risk Analysis
  • Quantitative Risk Analysis
  • Event Chain Methodology

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Prerequisites 

Anybody can attend the course, but to apply for the PMI Risk Management Professional (PMI-RMP)® Certification, PMI® requires applicants to fulfil one of the following educational and professional experience requirements:

  • Hold secondary degree (high school diploma, associate’s degree, or the global equivalent), 36 months of project risk management experience within the last 5 years, and 40 hours of project risk management education.

OR

  • Possess a four-year degree (bachelor’s or higher degree, or its global equivalent), 24 months of project risk management experience within the last 5 years, and 30 hours of project risk management education.

Audience 

This PMI Risk Management Professional (PMI-RMP)® Training course is designed for anyone who wants advanced knowledge and skills to identify and manage risks effectively. However, this course is more beneficial for professionals working in the following job roles:

  • Project Managers
  • Team Leads
  • Project Associates
  • Project Analysts
  • Project Coordinators

PMI Risk Management Professional PMI-RMP®​ Course Overview

Risk management is the process of recognising, analysing, and responding to any risks that occur throughout a project life cycle. It helps the project to remain on track and achieve its objectives. Risk management professionals help organisations to identify, analyse, and document the risks within their business methods. PMI Risk Management Professional (PMI-RMP)® certification validates the competency and expertise of individuals to assess and identify project risks, the ability to decrease threats, and how they capitalise on opportunities to increase the success rates of their projects. PMI-RMP® training offers globally recognised project risk management tools, terminologies, best practices, and techniques for operating small and large projects. Pursuing PMI-RMP® in career journey will help individuals grow professionally with numerous opportunities to work on higher posts.

In this PMI Risk Management Professional (PMI-RMP)® Training course, delegates will learn to develop risk assessment processes and tools that quantify stakeholder risk tolerances to assess and determine risk thresholds for the projects. Further, they will gain in-depth knowledge to update their risk policies and processes that they had learned from previous projects and outcomes of risk audits to improve their risk management efficiency. The Knowledge Academy’s highly skilled and professional trainer who has years of experience will conduct this PMI Risk Management Professional (PMI-RMP)® Training course and help the delegates to master the risk management skills.

 

This Training course will cover various essential concepts, such as:

  • Risk assessment processes
  • Risk policies and procedures
  • Develop risk strategy
  • Creating risk management plan
  • Risk principles and processes
  • Implementing risk processes

After attending this training, delegates will be able to provide risk-related recommendations to stakeholders relevant to risk strategies and planning, risk processes facilitation, risk reporting, and specialised risk. They will also be able to access stakeholder risk tolerance using processes and tools, such as interviewing stakeholders and reviewing historical stakeholder behaviours.

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  • Delegate pack consisting of course notes and exercises
  • Manual
  • Experienced Instructor

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Why choose us

Ways to take this course

Our easy to use Virtual platform allows you to sit the course from home with a live instructor. You will follow the same schedule as the classroom course, and will be able to interact with the trainer and other delegates.

Our fully interactive online training platform is compatible across all devices and can be accessed from anywhere, at any time. All our online courses come with a standard 90 days access that can be extended upon request. Our expert trainers are constantly on hand to help you with any questions which may arise.

This is our most popular style of learning. We run courses in 1200 locations, across 200 countries in one of our hand-picked training venues, providing the all important ‘human touch’ which may be missed in other learning styles.

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Highly experienced trainers

All our trainers are highly qualified, have 10+ years of real-world experience and will provide you with an engaging learning experience.

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State of the art training venues

We only use the highest standard of learning facilities to make sure your experience is as comfortable and distraction-free as possible

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Small class sizes

We limit our class sizes to promote better discussion and ensuring everyone has a personalized experience

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Great value for money

Get more bang for your buck! If you find your chosen course cheaper elsewhere, we’ll match it!

This is the same great training as our classroom learning but carried out at your own business premises. This is the perfect option for larger scale training requirements and means less time away from the office.

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Tailored learning experience

Our courses can be adapted to meet your individual project or business requirements regardless of scope.

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Maximise your training budget

Cut unnecessary costs and focus your entire budget on what really matters, the training.

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Team building opportunity

This gives your team a great opportunity to come together, bond, and discuss, which you may not get in a standard classroom setting.

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Monitor employees progress

Keep track of your employees’ progression and performance in your own workspace.

What our customers are saying

Frequently asked questions

FAQ's

Risk assessment is the process of analysing possible incidents which may result in the loss of an asset, loan, or investment.
The steps to develop risk assessment processes includes identifying the hazards, determining who and how might be harmed, evaluating the risks and taking precautions, recording your findings, and reviewing assessment and updating if necessary.
SWOT analysis, analogy, interviewing, assumptions analysis, document reviews, Delphi technique, brainstorming, the classic approach, nominal group technique, etc., are the tools that can be used to quantify the stakeholder risk tolerances.
Some valuable methods to improve risk management effectiveness include asking the questions, creating the right culture, clarifying responsibility or rules, and using suitable reward systems.
In this PMI Risk Management Professional (PMI-RMP)® Training course, you will learn Heuristics and other dynamic sources of cognitive biases and their associated effects on risk perception and behaviour. You will also learn to update the project risk management plan using relevant internal and external inputs.
The price for PMI Risk Management Professional PMI-RMP® certification in the United States starts from $1795
The Knowledge Academy is the Leading global training provider in the world for PMI Risk Management Professional PMI-RMP®.
Please see our PMP® Training courses available in the United States

Why choose us

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Best price in the industry

You won't find better value in the marketplace. If you do find a lower price, we will beat it.

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Trusted & Approved

The Knowledge Academy is a Authorized Training Partner (A.T.P) and is approved to provide PDUs by the Project Management Institute (PMI)®.

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Many delivery methods

Flexible delivery methods are available depending on your learning style.

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High quality resources

Resources are included for a comprehensive learning experience.

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"Really good course and well organised. Trainer was great with a sense of humour - his experience allowed a free flowing course, structured to help you gain as much information & relevant experience whilst helping prepare you for the exam"

Joshua Davies, Thames Water

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