Analyzing Risk (PMBOK6 Aligned)

A day in the life of a project manager

In the third course, we'll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis.

Effective Learning

FAQs

This is a series of 4 courses that together form the Risk Management Certification Program (PMI-RMP). The Program is PMBOK6 aligned and includes the courses on Planning Risk Management, Identifying Risk, Analyzing Risk and Responding to Risk.

Perform Qualitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

Perform Qualitative Risk Analysis: Data Flow Diagram

After completing this topic, you should be able to recognize the inputs you use to perform qualitative risk analysis.

The Science of Better Learning

After completing this topic, you should be able to identify the tools and techniques you can use for the Perform Qualitative Risk Analysis process

After completing this topic, you should be able to prioritize risks based on given probability and impact ratings 

After completing this topic, you should be able to recognize project documents that may need to be updated as a result of qualitative risk analysis 

Perform Quantitative Risk Analysis: Inputs, Tools & Techniques, and Outputs

Perform Quantitative Risk Analysis: Data Flow Diagram

After completing this topic, you should be able to recognize the inputs to the Perform Quantitative Risk Analysis process 

After completing this topic, you should be able to recognize examples of information you should gather about risks during an interview 

After completing this topic, you should be able to identify the four common types of continuous distribution 

After completing this topic, you should be able to identify the purpose of sensitivity analysis 

After completing this topic, you should be able to calculate the expected monetary value of a risk 

After completing this topic, you should be able to describe how to interpret a cost risk simulation graph 

Example S-Curve from Quantitative Cost Risk Analysis

Example Tornado Diagram

Example Decision Tree

After completing this topic, you should be able to identify the sections of the risk report you typically update as a result of the Perform Quantitative Risk Analysis process 

After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project 

After completing this topic, you should be able to demonstrate your understanding of how to perform qualitative and quantitative risk analysis for your project 

PMI Certification Info

In the third course, we'll examine the two risk analysis processes of the project risk management knowledge area, namely, perform qualitative risk analysis and perform quantitative risk analysis. 

PMI PMP Exam Outline

You think knowing stuff changes the game? You think sitting in a library, stacking up facts like you’re building a Jenga tower, is gonna make you a winner? Man, that’s cute. But life ain't a trivia night. Information alone? It’s worthless. It’s like having a Lamborghini in your garage but you never learned how to drive. You just sit in it, making engine noises. Vroom vroom. People walk by, they see the car, but they also see you ain't going nowhere. You got all this knowledge, all these textbooks, but when life throws a punch, you’re still looking up the definition of "duck." It’s what you *do* with that information that actually matters. Don't be the person with the shiny car and no keys.