This lecture explains the following:

• The definition of Project and Project Management
• What project management and risk management are based on
• PMO types

This lecture discusses the following:

• Types of organizations 
• Influence of organization types on projects
• Relationship between organization types and risks

Sample PMI-RMP exam question

In this lecture, we will discuss some of the basic building blocks that are necessary to lay a solid foundation for good risk management

• Organizational Governance
• Project Governance
• Risk Governance
• Risk Roles and Responsibilities
• Risk Management Metrics

In this lecture, we will discuss some of the basic building blocks that are necessary to lay a solid foundation for good risk management

• Lessons Learned
• Cost of Change Over Time
• Risk Levels Over Time

• The different types of contracts 
• Their characteristics
• When they are used 
• How they are related to Risk Management.

Sample PMI-RMP exam question

Sample PMI-RMP exam question

In this lecture, we will discuss:

• The PMI Framework
• The concept of PDCA
• The 5 Project Process Groups
• The 10 Knowledge Areas 
• Their intersection

In this lecture, we will learn about:

• Structure of the Project Management processes
• Inputs
• Tools and Techniques
• Outputs 
• Recurring ITTOs
• Enterprise Environmental Factors (EEF)
• Organizational Process Assets (OPA)

This lecture covers the following:

• The definition of Risk
• Causes of risks
• Risks vs Issues
• The meaning of Risk Management
• Risk Types

This lecture covers the following:

• Risk Terminology
• Risk Definitions
• Risk Attitudes
• Uncertainty Levels

Sample PMI-RMP exam question

In this lecture, we will explain:

• The Risk Management Cycle
• The Outcomes of Each Process
• Who Should Be Involved in Each Process

Plan Risk Management  

The First process in the Risk Management cycle. We will have a closer look at:

• What the process is
• Who should be involved in it
• Inputs
• Tools and Techniques
• Outputs

Plan Risk Management  

The First process in the Risk Management cycle. We will have a closer look at

• Inputs
• Tools and Techniques

Plan Risk Management  

The First process in the Risk Management cycle. We will have a closer look at:

• Outputs
• Contents of the Risk Management Plan (RMP)
• Risk Breakdown Structure
• Risk Categorization

Plan Risk Management  

The First process in the Risk Management cycle. We will have a closer look at:

• Outputs
• Contents of the Risk Management Plan (RMP)
• Risk Impact Scales
• Success criteria based on which the Risk Management Process will be assessed

Plan Risk Management  

The First process in the Risk Management cycle. We will have a closer look at:

• Recommended Steps for Plan Risk Management

Sample PMI-RMP exam question

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

• What the process is
• Who should be involved in it
• Inputs
• Tools and Techniques
• Outputs

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

• Inputs in details
• Scope Statement
• WBS
• Stakeholder Register
• Time Estimates
• Cost Estimates

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

• Inputs in details
• Project Charter
• Network Diagram

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Inputs in details

• Procurement Documents
• Communication Management Plan

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Inputs in details

• Enterprise Environmental Factors
• Organizational Process Assets

Sample PMI-RMP exam question

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Documentation Reviews 
• Information Gathering

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Brainstorming
• Its advantages and disadvantages
• How to conduct Brainstorming
• Tips for Brainstorming

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Interviewing 
• How to conduct Interviewing 
• Tips for Interviewing

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Checklists Analysis 
• Assumptions Analysis 
• Diagramming Techniques

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Diagramming Techniques
• Flow Charts
• Influence Diagram

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Diagramming Techniques
• The Ishikawa Diagram

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Diagramming Techniques
• Affinity Diagrams
• SWOT Analysis

Identify Risks 

The Second process in the Risk Management cycle. We will cover the following:

• Outputs in details

• The Risk Register

Sample PMI-RMP exam question

Exercise Number 1

In this exercise, you are given certain situations for which you need to identify risks.

The output of this exercise is an initial Risk Register.

Please download the attached Risk Register template

Perform Qualitative Risk Analysis 

The Third process in the Risk Management cycle. We will cover the following:

What the process is

• Who should be involved in it
• Inputs
• Tools and Techniques
• Outputs

Perform Qualitative Risk Analysis 

The Third process in the Risk Management cycle. We will cover the following:

Inputs in details

• Scope Baseline 
• Risk Register 
• Enterprise Environmental Factors 
• Organizational Process Assets

Perform Qualitative Risk Analysis 

The Third process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Risk Probability and Impact Assessment 
• Probability and Impact Matrix 
• Risk Data Quality Assessment
• Risk Categorization
• Risk Urgency Assessment

Perform Qualitative Risk Analysis 

The Third process in the Risk Management cycle. We will cover the following:

Outputs in details

• Risk Register
• Assumptions Log

Sample PMI-RMP exam question

Sample PMI-RMP exam question

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

What the process is

• Who should be involved in it
• Inputs
• Tools and Techniques
• Outputs

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Three-Point Estimating
• Data Gathering and Representation Techniques
• Interviewing
• Probability Distributions

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Quantitative Risk Analysis and Modeling Technique
• Sensitivity Analysis
• Tornado Diagram

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

Quantitative Risk Analysis and Modeling Techniques

• Fault Tree Analysis (FTA)
• Other Quantitative Risk Analysis Techniques

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

Quantitative Risk Analysis and Modeling Technique

• Expected Monetary Value (EMV) Analysis
• Decision Trees

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

Quantitative Risk Analysis and Modeling Technique

• Modeling and Simulation
• Monte Carlo Simulation
• Predicting Project Finish Dates
• Predicting Project Finish Cost

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

Advanced Quantitative Risk Analysis Tools

• Bowtie Analysis
• Integrated Cost-Schedule Analysis
• Latin Hypercube simulation
• System Dynamics
• Analytical Hierarchy Process 
• Multi-factor Regression Analysis

Perform Quantitative Risk Analysis 

The Fourth process in the Risk Management cycle. We will cover the following:

Outputs in details

• Project Document Updates
• Updating the Risk Register

Samples PMI-RMP exam question

Samples PMI-RMP exam question

Samples PMI-RMP exam question

Decision Trees are a very important tool in project management and strategic planning.

In this lecture, we will have a look at an exercise that employs this powerful tool to help us make a decision.

Exercise Number 2

In this exercise, you will continue what you started in the previous exercise.

In this exercise, you need to fill the following columns

• P  (Probability of Occurrence)
• I  (Impact)

Plan Risk Responses

The Fifth process in the Risk Management cycle. We will cover the following:

What the process is

• Who should be involved in it
• Inputs
• Tools and Techniques
• Outputs
• Tips for Risk Responses
• Contingency Plan vs Fallback Plan
• Things to Consider when planning Risk Responses

Plan Risk Responses

The Fifth process in the Risk Management cycle. We will cover the following:

Inputs in details

• Risk Management Plan
• Risk Register

Plan Risk Responses

The Fifth process in the Risk Management cycle. We will cover the following:

Tools and Techniques in details

• Strategies for negative risks or Threats
• Strategies for positive risks or Opportunities
• Contingent response strategies

Plan Risk Responses

The Fifth process in the Risk Management cycle. We will cover the following:

Outputs in details

• Project Management Plan Updates
• Project Document Updates

Sample PMI-RMP exam question

Sample PMI-RMP exam question

The Risk Register is one of the most important documents for any project.

When built properly, the Risk Register will be a valuable and comprehensive document which is full of information about all project risks and will greatly help the project risk management team to control project risks.

In this lecture, we will see a detailed version of the Risk Register and explain how to use it. This long version of the risk register has a column to calculate the EMV for risks

Exercise Number 3

In this exercise, you will continue what you did in the previous exercise by putting plans to deal with risks

In this exercise, you need plan risk responses. You need to fill the following columns

• Response Strategy  (Avoid, Transfer, Mitigate or Accept)
• Response Plan Details (remember: these are specific action to be executed before the risk happens)

Control Risks

The Sixth process in the Risk Management cycle. We will cover the following:

• About the Monitoring and Controlling Process Group
• What the process "Control Risks" is
• Who should be involved in it

Control Risks

The Sixth process in the Risk Management cycle. We will cover the following:

• Risk Types
• Assumption Evaluation
• Contingency Reserves

Sample PMI-RMP exam question

Control Risks

The Sixth process in the Risk Management cycle. We will cover the following:

• Inputs
• Tools and Techniques
• Outputs
• The Risk Reassessment Process
• Risk Audits
• Reserve Analysis

Sample PMI-RMP exam question

In this lecture, we discuss some valuable tips for Project Risk Management and Tricks of The Trade

In this lecture, we discuss some valuable tip for Project Risk Management and Tricks of The Trade