Course introduction

This focused and intensive ExamPrep workshop will equip participants with an integrated base of project management skills and knowledge and prepare participants to pass the PMI Risk Management Professional (PMI-RMP®) examination based on Project Management Institute's (PMI) Project Management Body of Knowledge (PMBOK® Guide). The program includes comprehensive study materials and exam questions that will be reviewed throughout the program, thoroughly preparing participants for the PMI-RMP® exam. (Note: Please enquire for public full-time/part-time schedule or for in-house or group training)

Course Benefits

Project Management has taken on a new prominence in today’s global environment. Project Managers and team members are tasked with a range of decisions and activities.

This intensive workshop is a strong enabler for professionals involved in projects who want to gain the appropriate professional certification consolidate their skills in effectively planning, monitoring and controlling project risks.

Through interactive learning, scenario evaluations and direct applications, participants will:

Learn procedures in risk identification
Be able to evaluate risks based on risk probabilities and risk impacts
Appreciate the dual nature of risks and link this to risk profiles of organizations
Apply qualitative risk analysis and quantitative risk analysis
Understand risk response development
Be able to differentiate between mitigation activities v.s. contingency activities
Practice hundreds of exam-type questions and understand the reasonings

The PMI-RMP® training and certification will provide professional project personnel with the necessary knowledge and tools to identify, assess, plan for and navigate the range of risks that are inherent within a project environment.

Target Audience

This 3-day ExamPrep program will effectively prepare individuals and corporate personnel who target to sit for the latest version of the Risk Management Professional (PMI-RMP®) exam by the Project Management Institute (PMI®).

This workshop and the PMI-RMP® certification will be extremely valuable for project managers and project related personnel in all industries. Teams are encouraged to attend for maximum benefit.

Course Outline

1. Overview Of Risk Management

Fundamental Concepts of Risks
Differentiating Risks, Constraints and Assumptions
The Risk Management Cycle
Internal and External Environmental Factors that Contribute to Project Risks
Pre-Project Risks vs. Project Risks vs. Post-Project Risks

2. Risk Management Planning

Planning for Proactive and Reactive Risk Management Activities
Risk Mitigation and Risk Contingencies
Key Documents in Risk Management
Developing the Risk Management Plan
The Risk Register
The Risk Log
The Risk Breakdown Structure (RBS)
Planning Meetings and Analysis
Gaining Agreed-Upon Basis
Stakeholder Analysis and Stakeholder Grids
Stakeholder Analysis Matrix

3. Risk Identification

Inputs to Risk Identification
Documentation Reviews
Information Gathering
Checklist Analysis
Assumptions Analysis
SWOT Analysis
Diagramming Techniques
Risk Categorization – Developing the Risk Breakdown Structure (RBS)
Initial Development of the Risk Register

4. Qualitative Risk Analysis

Risk Prioritization and Ranking
Probability, Impact, Urgency/Proximity, Detectability/Hiddenness
How to Perform Risk Assessment
Probability and Impact Matrix
Hierarchy of Impact over Probability
Updating the Risk Register to Reflect Ranking
Identifying Risks Requiring Response in the Near-Term
Identifying Risks Requiring Additional Analysis and Response
Developing a Watchlist of Lower Priority Risks

5. Quantitative Risk Analysis

Identifying Risks Requiring Quantitative Analysis
Constructing Applicable Scenarios for Analysis
Quantifying Schedule and Cost Impacts
The Decision Tree and Expected Monetary Value

6. Risk Response Planning

Strategies for Negative Risks or Threats
- Avoidance, Transference, and Mitigation
Strategies for Positive Risks or Opportunities
- Exploiting, Sharing, and Enhancing
Strategies for Both Threats and Opportunitie
- Acceptance
Mitigation vs. Contingent Response Strategies
Updating Risk Responses into the Risk Register
Gaining Agreement on Risk Response Strategies
Identifying Risk Owners and Assigning Response Responsibilities
Identifying Symptoms and Triggers
Establishing Thresholds
Determining Risk Management Budgets and Schedules
Contingency Reserves of Time and Money
Establishing Fallback Plans
Identifying and Planning for Residual and Secondary Risks

7. Risk Monitoring And Control

Establishing the Risk Log
Ongoing Risk Assessment and Monitoring
Planned Risk Reassessments
Planned Risk Audits
Variance and Trend Analysis
Performing Periodic Status Meetings
Performing Exception Meetings
Workarounds vs. Planned Responses
Establishing Ongoing Lessons Learned Logging and Reporting

Approach

Participants will relate concepts to real life project environment challenges and solutions through discussions and the practice of exam-type questions both within and outside the sessions.

Trainer Profile

Charles Lim (MBA, BSc, PMP, PRINCE2, CMC-BCI Certified Master Coach, Grad Dip SA, Grad Dip AI, AFP, AWP)

Charles Lim (MBA, BSc, PMP, PRINCE2, CMC-BCI Certified Master Coach, Grad Dip SA, Grad Dip AI, AFP, AWP) has over 30 years of career experience. He has spearheaded business projects and led both project teams and management teams overseeing functional areas including Sales, Marketing, Operations, Procurement, HR and Finance. Charles has also taken on a wide array of business and managerial roles and responsibilities with strategic and bottom-line accountability from both the Revenue as well as Cost perspectives.

Charles is a long-term practicing corporate trainer and management consultant who have trained and worked with thousands of personnel in the region, enabling organizations to prioritize and strategize growth through enhancing, aligning and leveraging on the capacity of an organization's processes, technology and, very importantly, its people. Charles has also successfully trained over a thousand participants in both PMP® and PRINCE2® certification programs.

He has also helped establish internal auditing procedures and identify related KPIs. Charles' many successes are bound by his extensive experience complemented by his inimitable approach in bringing across difficult concepts or apparently conflicting perspectives of different stakeholders to a new alignment.

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