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    Home
    Project Risk Management

    An Introduction To Our Online PMP Training Course

    PMP Training - What you receive


    Here is what you receive with our full PMP exam prep class:
    • Print copy of our 396-page course manual shipped directly to your home
    • Print copy of the 756-page PMBOK? Guide 6th Edition shipped to your home
    • 100 days access to our fast, reliable Learning Platform
    • 10 hours of instructor-led online instruction
    • 1 full day of in-person classroom training at one of our 20 training facilities
    • Over 1200 sample questions with simulator
    • Tracking analytics to follow your progress
    • Certificate documenting 35 contact hours of PM education
    • Near perfect 99% pass rate

    • Title: PMP Certification Training
    • Format: Blend of Online and Traditional Classroom Instruction
    • PMI Approved Hours: 35 Contact Hours
    • Tuition: $595

    LOOKING TO UPGRADE INTO LIVE CLASSROOM TRAINING? Join a 1-day in-person class taught by a veteran PreparePM instructor. Choose from over 20 locations.

    Project Risk Management

    PREV: Project Cost       UP NEXT: Quality


    This chapter covers key concepts related to Project Risk Management.

    1. The knowledge area of Project Risk Management consists of the following processes -

      Risk Management Processes

      Process Project Phase Key Deliverables
      Plan Risk Management Planning Risk Management Plan
      Identify Risks Planning Risk register
      Perform Qualitative Risk Analysis Planning Risk register updates
      Perform Quantitative Risk Analysis Planning Risk register updates
      Plan Risk Responses Planning Risk related contract decisions
      Monitor and Control Risks Monitoring and Controlling Risk register updates
    2. A project risk is a potential source of deviation from the project plan. Project risks can have a negative or positive impact on the project. Project risks that are negative are called threats. Project risks that are positive are called opportunities.
    3. Responses to threat include --
      • Reducing the probability of risk
      • Developing contingency plans
      • Passively accepting consequences.
      • Transferring risk
      Insurance is an example of transferring risk.
    4. Non-critical risks should be documented. They should be revisited and reviewed regularly.
    5. Risks are identified in all phases.
    6. Work-around refers to how to handle risks that have occurred but are not part of risk response plan. This happens in risk monitoring and control phase.
    7. Delphi technique is most commonly used to obtain expert opinions on technical issues. It can be used to get inputs on Scope, Estimates or Risks. Some characteristics of the Delphi technique are -
      • The experts identities are anonymous. They are not in the same room.
      • The PM tries to build a consensus among the experts.

    Questions on Project Risk Management are available in Risk Questions.

    UP NEXT: Quality

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