Project Risk Management for Practitioners

Provided by PMI® A.T.P. #4760. 100% pre-approved PDUs. All PMPs, PgMPs, PMI-RMPs earn 14.25 PDUs of Technical Project Management after taking this course.
Elearning Last updated Dec 20, 2021
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Project Risk Management for Practitioners
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  • 14.46 hrs Audio duration
  • 14.46 hrs in total
  • 365 days access
  • Receive userid immediately
  • Study at anytime and from anywhere
  • Certificate of Completion
  • Each lesson comprises of presentations, audio for each presentation, and transcripts of audio for reading
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All PMPs, PgMPs, PMI-RMPs earn 14.25 PDUs of Technical Project Management after taking this course!

All PMI-SPs earn 1.25 PDUs of Technical Project Management after taking this course. 

This course aims to enable participants to plan, manage, and control project risks. By taking this course, participants will learn to develop project risk management plans and identify project risks related to a project’s triple constraints which are: scope, schedule, and resources. They will learn to qualify and quantify project risks and develop appropriate risk responses and will design and calculate key performance indicators for monitoring and controlling project risks. 

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

  • Develop project risk management plans
  • Identify project risks related to scope, schedule, and resources
  • Perform quantitative and qualitative risk assessments
  • Plan strategies for negative and positive risks
  • Devise metrics to monitor and control project risks

Course information on PMI CCRS: https://ccrs.pmi.org/search/course/452094

14 lectures
14.46 hrs
There is always at least some level of uncertainty in a project’s outcome, and to avoid a project doomed to failure, you must consistently use the best practices available.
Most of projects fail because of poor project management—simply because too little thought is put into the work to produce useful results. Risk and project planning enable you to distinguish among and deal with these situations.
A great deal of project risk can be discovered at the earliest stages of project work, when defining the scope of the project. Identification of scope risks will reveal either that your project is feasible or that it lies beyond the state of your art. Early decisions to shift the scope or abandon the project are essential on projects with significant scope risks.
In this chapter, our focus is on constraints—factors that transform otherwise reasonable projects into ones that will fail. Project processes for scheduling and resource planning provide a fertile source for discovery of project risks that arise from these constraints.
In this chapter, our focus is Resource Risk. A lack of technical skills or access to appropriate staff is a large source of project risk for complex, technical projects. Risk management on these projects requires careful assessment of needed skills and commitment of capable staff.
This chapter focuses on common-sense project analysis. The principal objective of reviewing the plan is to find defects and omissions, deal with unmet constraints, and seek an improved plan, quickly. You are not after a perfect plan, just the best one possible using what you currently know about your project.
Project planning processes serve several purposes, but probably the most important for risk management is to separate the parts of the work that are well understood, and therefore less risky, from the parts that are less well understood. . The focus of this chapter is analysis and prioritization of the identified project risks.
Risk assessment provides a prioritized risk register. When you use this list, it becomes clear just how much trouble your project is in. Project risk management can be a potent tool for transforming a seemingly doomed project into a merely challenging one.
The focus of this chapter is analyzing overall project risk, building on the foundation of analysis and response planning for known activity risks.
In this chapter, we discuss how to effectively use risk and project data to influence necessary changes, to clearly communicate project risks, and to adopt ongoing risk management practices that detect new risks promptly and minimize problems throughout the project.
Monitoring and control of the work is essential to detecting problems such as insufficient staffing early enough to avoid the need for chaotic, and seldom successful, heroic measures. Disciplined monitoring and control finds and fixes problems while they are still small, so the project avoids serious trouble in the first place.
Getting better results requires process improvement. Using a continuous cycle of measurement, small modifications, new measurement, and comparative analysis, you can discover ways to improve any process. Any process change you come up with is probably a better bet than repeating something that does not work. Postproject analysis is a powerful and effective tool for longer-term project risk management.
This chapter explores the relationship of project risk management to each of three higher-level perspectives: program, portfolio and enterprise risk management.
Risk management processes provide a way to learn whether your project is feasible—whether you should think you can do it. A feeling of confidence, based on credible information, is a powerful determinant of success, and project risk information is a key source of the data that people need.
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