Udemy
    •  
    •  
    •  
    •  
    •  
    •  
    •  
    •  
Turn what you know into an opportunity and reach millions around the world.
Learn More
Your cart is empty.
Keep shopping
Project Risk Management : PMP Certification
Rating: 4.4 out of 5(126 ratings)
9,691 students

Project Risk Management : PMP Certification

Strategically Managing Project Risks in Accordance with PMBOK 7: A Comprehensive Guide for Achieving Project Success"
Created byOZIS Academy
Last updated 1/2024
English
English [Auto],

What you'll learn

  • This course will equip students with the expertise to develop a comprehensive Risk Management Plan, a fundamental element in project management.
  • Through this course, students will develop the expertise to manage a Risk Register and utilize diverse techniques to detect potential risks in projects.
  • Participants will acquire the skills to rank risks by their impact and probability, employing the risk probability and impact matrix to guide their decisions.
  • This course equips participants with the skills to numerically evaluate risks and utilize advanced techniques such as Monte Carlo simulations.
  • Students will have cultivated the skill of crafting strategic risk response plans, a critical competency for effectively mitigating identified risks.
  • You will be proficient in executing planned risk responses, enabling them to address real-time risks as they manifest during the project's lifecycle.
  • You will learn to manage project risks, by evaluating them, assessing response efficacy, and updating the Risk Register to maintain risk strategy effectiveness.

Course content

1 section • 11 lectures • 3h 46m total length

  • Introduction to Project Risk Management5:32

    Identify and assess project risks, quantify impacts, and implement responses to protect timelines and budgets. Develop a risk management plan and ongoing monitoring to ensure project success.

  • Key Concepts for Project Risk Management3:31

    Identify and manage potential issues to safeguard project success through ongoing risk management. Navigate individual challenges and the overall risk, using measurable risk thresholds shared with the team.

  • Trends & Emerging Practices in Project Risk Management4:55

    Explore trends in project risk management, including variability and ambiguity risks, Monte Carlo analysis, prototypes, resilient processes, and empowering teams to align risk across projects, programs, and portfolios.

  • Tailoring Considerations for Project Risk Management3:52

    Tailor project risk management by adjusting the plan to project size, importance, and development approach, choosing detailed or simplified processes for large versus small projects, Waterfall versus Agile.

  • 1 - Plan Risk Management25:30

    Plan risk management identifies and plans responses to project risks. Use inputs, tools, and outputs like the project charter, stakeholder register, expert judgment, risk matrix, and the risk management plan.

  • 2 - Identify Risks30:59

    Identify risks by engaging stakeholders to build a living risk list with assigned risk owners. Use brainstorming, interviews, swot analysis, and data analysis to update the risk register continuously.

  • 3 - Perform Qualitative Risk Analysis31:21

    Perform qualitative risk analysis identifies and prioritizes risks by probability and impact, assigns risk owners, and updates the risk register and related documents through risk workshops.

  • 4 - Perform Quantitative Risk Analysis41:15

    Master quantitative risk analysis by integrating inputs, tools, and outputs—using Monte Carlo simulation, s-curve charts, sensitivity analysis, decision trees, and influence diagrams to quantify risk and guide responses.

  • 5 - Plan Risk Responses47:27

    Plan risk responses develop options and actions to address threats and opportunities, applying expert judgment, multi-criteria decision analysis, and defined strategies like escalate, avoid, transfer, mitigate, exploit, and accept.

  • 6 - Implement Risk Responses12:10

    Implement risk responses by turning plans into action to reduce threats and seize opportunities. Use the risk register, risk report, and lessons learned to guide ownership and track progress.

  • 7 - Monitor Risks19:54

    Monitor risks continuously to ensure responses work and overall risk stays aligned with the plan. Use inputs, tools, and outputs like risk register and risk report to adapt risk management.

Requirements

  • Proficiency in basic mathematical and analytical skills is essential, particularly for risk analysis methods.
  • The ability to think critically and analyze situations is crucial for assessing and addressing project risks. So you can understand the various examples that are discussed through out this course.
  • Strong problem-solving skills are an asset, as risk management often involves addressing complex issues.
  • While not mandatory, prior experience in project work or a project management role can greatly enhance understanding and application of risk management principles.

Description

In today's rapidly evolving and interconnected world, the ability to effectively manage risk is more critical than ever. Whether you find yourself in the realm of business, technology, healthcare, or any other field, the need to navigate the uncertainties and challenges that come with project management is ubiquitous. This course is your key to understanding and applying the fundamental principles of risk management, as outlined in the PMBOK Guide.

Risk management is not confined to any single sector. It's a dynamic skill set that transcends boundaries and disciplines, making it indispensable for professionals across industries. In this course, you'll discover the paramount importance of proactively identifying, analyzing and responding to potential risks in your projects.

The new world we live in is characterized by unprecedented levels of complexity, global interconnectivity, and rapid technological advancements. These factors introduce both opportunities and vulnerabilities, making the need for robust project risk management more pressing than ever. As such, this course equips you with the knowledge and tools necessary to thrive in this modern landscape.

In a world where innovation is the currency of progress, understanding how to manage risks is your competitive advantage. Whether you're a seasoned project manager or just starting your journey, this course empowers you to confidently navigate the complexities of modern projects, enhancing your ability to lead teams, meet objectives, and deliver successful outcomes.


This course provides comprehensive, in-depth coverage of the following topics:


  1. Plan Risk Management: In this lecture, students will learn how to create a Risk Management Plan, a key component of the project management plan. They will understand how to document the approach to risk management, roles and responsibilities, risk categories, and the methodology to be used for risk assessment and response planning.

  2. Identify Risks: This lecture focuses on the process of risk identification. Students will learn techniques for identifying potential risks, such as expert judgment, documentation reviews, and information gathering. They will understand the importance of creating and maintaining a Risk Register to capture all identified risks.

  3. Perform Qualitative Risk Analysis: Students will delve into the qualitative assessment of risks. They will learn how to prioritize risks by assessing their impact and probability using techniques like the risk probability and impact matrix. The lecture will cover how to use the results to prioritize risks for further analysis.

  4. Perform Quantitative Risk Analysis: This lecture explores the quantitative assessment of risks. Students will learn how to assign numerical values to risk factors and use tools like Monte Carlo simulations to quantitatively analyze risks. They will also understand how to assess the potential impact on project objectives.

  5. Plan Risk Responses: Students will learn how to develop risk response strategies for the identified risks. They will understand how to create a Risk Response Plan that outlines specific actions to address each risk, such as risk avoidance, risk mitigation, risk transfer, or risk acceptance.

  6. Implement Risk Responses: Building on risk response planning, this lecture covers the implementation of risk response strategies. Students will learn how to execute the planned risk responses and take necessary actions to manage risks as they unfold during the project.

  7. Monitor Risks: In the final lecture, students will explore the ongoing process of monitoring and controlling risks. They will learn how to track identified risks, assess the effectiveness of risk responses, and update the Risk Register as necessary. This continuous monitoring ensures that project risks are effectively managed throughout the project's lifecycle.


Join us on this journey, and embark on a transformational experience that will elevate your project management skills to new heights. Embrace the power of risk management and seize the opportunities of the modern world with confidence and competence. Your success begins here.

Who this course is for:

  • Ideal for those looking to establish a strong foundation in project risk management to kickstart their careers.
  • Designed to empower seasoned project managers, engineers, and various industry professionals with advanced risk management techniques for career advancement.
  • Valuable for individuals seeking to navigate project uncertainties, control budgets, and drive success in their ventures.
  • Suitable for continuous learners and those interested in applying risk management principles across a range of industries and areas of expertise.

Report abuse