0800 282 353 or +44 1372 364610

Productivity through Education®

Project Risk Management

Preparing for the PMI Risk Management Professional (PMI-RMP) Exam

Course: 286 Duration: 4 Days PMI: 23

You Will Learn How To

Manage project risk effectively to deliver successful projects that meet stakeholder needs
Apply customisable, industry-robust templates to create a Risk Management Plan and Risk Register
Leverage a proven 7-step qualitative risk analysis process to identify risk exposure
Translate risk into actual time and cost impact using proven quantitative risk analysis tools
Utilise a tested 7-step technique to design your risk response strategies
Monitor risk triggers to control uncertainties and maximise project payoff

Course Benefits

All projects involve risk. To quantify and manage risks, you need to thoroughly analyse risk before and during a project. This course provides the skills to help you prepare for the PMI-RMP^® exam. Through identifying and measuring risks in project development and implementation, you learn to quantify risks and create risk response strategies to deliver projects that meet stakeholder expectations.

Who Should Attend

Those with a stake in seeing a project through to successful completion as well as those who plan to take the PMI-RMP^® exam. Experience at the level of Course 296, "Project Management: Skills for Success", or Course 340, "Project Management for Software Development", is recommended.

RealityPlus™

In this course, you are immersed in a PC- and video-enhanced case study to simulate a project risk experience from planning to project close. You perform risk management tasks including:

Creating your RMP from a proven model
Developing and updating a Risk Register through a systematic incremental process
Applying a 7-step qualitative risk analysis process to determine probability, impact and exposure
Quantifying risks according to EMV, Utility and impact on estimates
Designing a risk response strategy
Detecting and responding to risk events using EVA
Updating your risk database and determining process improvements

Related Courses

287 Complex Project Management
299 Microsoft Project 2007 Comprehensive Introduction
289 Disaster Recovery Planning
923 Project Budgeting and Estimating
346 Project Team Leadership
276 Preparing for the PMP Exam
177 PRINCE2^® Practitioner Certification
3620 Managing Global Projects

PMI R.E.P. logo is a registered mark of the Project Management Institute, Inc. RealityPlus^TM is a trademark of Learning Tree International, Inc.

Upcoming Dates

Attend highlighted events in person or live, online via Learning Tree AnyWare^TM.

UK Dates

26-29 Jun

London

6-9 Nov

London

US East Coast Dates

2-5 Apr

Washington, DC*

8-11 May

New York*

15-18 May

Washington, DC*

*New York and Washington, DC Courses – Available online with a run time of 2pm to 9pm BST.

For AnyWare enrolments, please register at least 10 days prior to the start of the course.

For complete schedule, please visit www.learningtree.co.uk

http://www.learningtree.co.uk/courses/uk286.htm

0800 282 353 or +44 1372 364610

Productivity through Education®

Project Risk Management

Preparing for the PMI Risk Management Professional (PMI-RMP) Exam

Course: 286 Duration: 4 Days PMI: 23

Course Content

Overview of Project Risk Management

Recognising risk in all projects
Using risk management best practices, tools and techniques to achieve project success

Designing Critical Platforms for Success

Creating a Risk Management Plan (RMP)

Analysing contents of a model RMP
Applying a standard template to create your RMP

Identifying project risk

Common sources of project risk
Creating Ishikawa diagrams to analyse cause and effect relationships
Utilising checklists
Assessing high-level risks to the organisation

Developing a Risk Register

Analysing contents of a model Risk Register
Applying a proven template to create your Risk Register
Communicating risks to stakeholders
Documenting risks for future assessment

Improving Project Performance through Qualitative Analysis

Analysing risks through qualitative measures

Performing probability and impact analyses of identified risk
Applying the probability and impact matrix
Advanced applications of qualitative analysis

Prioritising analysis results

Ranking project risks
Differentiating between acceptable and unacceptable risks

Analysing Risks Using Quantitative Methods

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 (EMV)
Three-point estimates
Probability distributions
Delphi Technique
Simulation

Risk Response Planning

Implementing risk response strategies

Accept
Avoid
Transfer
Mitigate
Exploit
Share
Enhance
Quantifying residual risks and secondary responses

Creating contingency plans

Determining the worst-case scenario
Recalculating confidence levels
Finalising risk budget
Applying a 7-step process to risk response planning

Making Decisions under Uncertainty

Psychological factors in decision making

Practical applications of Prospect Theory
Recognising bias with Utility Theory

Tools to enhance objectivity

Maximising returns through the use of payoff tables
Applying decision trees with Precision Tree software
Dealing with unknown risks using workarounds

Monitoring and Controlling Risk

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
Recommending corrective action

Leveraging Project Experience

Creating an end-of-project risk report
Compiling lessons learned in a risk database
Recognising the value of mistakes
Ensuring continual process improvement

http://www.learningtree.co.uk/courses/uk286.htm

0800 282 353 or +44 1372 364610

Productivity through Education®

Project Risk Management

Preparing for the PMI Risk Management Professional (PMI-RMP) Exam

Course: 286 Duration: 4 Days PMI: 23

Course Fees

£ 1,925	Standard Fee
Fee with a Savings Plan
£ 1,225	2-Course Passport
£ 1,085	3-Course Passport
£ 1,000	4-Course Passport
£ 1,600	Voucher 10-Pack

Your Course Fee Entitles You To...

Class participation
Team workshops
Use of in-class hands-on equipment
Comprehensive course materials
Morning and afternoon refreshments
Course Completion Certificate
FREE participation in the Learning Tree Professional Certification Programmes (including related exams)

Savings Plans

2-Course Passport	2 Courses in 12 months for �2,450 As little as �1,225 per course Savings up to 45% per course
3-Course Passport	3 Courses in 24 months for �3,250 As little as �1,085 per course Savings up to 50% per course
4-Course Passport	4 Courses in 24 months for �4,000 As little as �1,000 per course Savings up to 55% per course
Training Vouchers	Save as much as �675 per course Fully transferable As low as �1,600 per course

* Exact savings may vary depending on courses selected.

Your Guarantee of Satisfaction

Unless you feel 100% satisfied that Learning Tree delivered even more than you expected, there is no fee for your course attendance. Our Guarantee of Quality lets you experience the value of the course - and then pay only if you feel the course was well worth the fee.

Enrolling is Easy and Flexible!

Enrol by phone or online. If your plans change, just let us know and, without a fee, you can transfer to another course or cancel your enrolment. Pay after you've taken the course, and then only if you are 100% satisfied.

http://www.learningtree.co.uk/courses/uk286.htm