Preparation for Risk Management Professional (PMI-RMP)® Certification

This Preparation for Risk Management Professional (PMI-RMP)® Certification training course is designed to equip participants with the knowledge and skills necessary to successfully undertake the globally recognized Risk Management Professional certification exam, the PMI RMP®.

For those aspiring to become certified Risk Management Professionals, this training course is an essential step. It is particularly beneficial for Project Managers and professionals seeking to enhance their expertise in risk management. The curriculum is fully aligned with the latest PMBOK® Guide (6th edition) from the Project Management Institute (PMI), ensuring that participants receive comprehensive and up-to-date training that meets industry standards.

This Preparation for Risk Management Professional (PMI-RMP)® Certification training course will feature:

• A thorough review of the project risk management performance domain
• Understanding and developing risk management strategy and plans in accordance with the latest versions of PMBOK® Guide and PMI’s Risk Management Practice Guide.
• Review and hands-on practice with sample test questions, problems and practical exercises supporting risk identification, quantitative analysis, qualitative analysis, risk response and monitoring
• Review and use of risk management tools and techniques
• The RMP® application and testing process, and completing a full PMI-RMP® practice test

By the end of this training course, participants will be able to:

• Take the PMI RMP® exam with confidence
• Know the steps in Project Risk Management and their relationship with the other project management knowledge areas
• Understand the relation between risk management in projects, programs and portfolios
• Distinguish between risk and issue management
• Analyse and select appropriate tools and techniques to identify risk
• Understand the differences between qualitative and quantitative approaches to risk analysis
• Apply simulation tools and techniques such as Monte Carlo, PERT and Tornado Diagrams
• Understand how to monitor and communicate project risks to stakeholders on a timely basis

This Preparation for Risk Management Professional (PMI-RMP)® Certification training course is suitable to a wide range of professionals but will greatly benefit:

• Professionals who have been directly involved in risk identification, analysis, and response on any kind of project
• Professionals who are working as project managers or key project or program team members
• Those who recognise project risk management as a core part of their professional experience and want to become certified Risk Management Professionals
• PMP® Certified project team members who would like to earn PDUs for the its renewal, while getting ready for the next certification

This Preparation for Risk Management Professional (PMI-RMP)® Certification training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes case study presentation, lecture-based presentation, video and audio inserts, simulated exams and practice.

Introduction Session: Overview of the RMP® Application and Exam

Topic 1: Principles and Concepts of Risk Management 

• Definition of risk & risk management
• Stakeholder risk attitudes
• Responsibilities for risk within projects

Topic 2: Stakeholders and Risk Communication 

• Risk management and Stakeholder Management
• Developing the communication plan
• Preparing for risk communication

Topic 3: Planning Risk Management 

• Developing project risk strategy
• Components of the risk management plan
• Risk Breakdown Structures (RBS)
• Techniques for Risk Planning
• The Risk Management Plan

Daily Review and Q/A Session

Topic 4: Identify Risks 

• Risk identification techniques
• Determining which risk tool to use
• The risk register
• The risk report

Topic 5: Qualitative Risk Analysis 

• Defining impact
• Risk probability and impact scoring
• Developing risk log

Daily Review and Q/A Session

Topic 6: Schedule and Cost Management Overview

• Schedule preparation and management
• Cost Estimating and Budgeting
• Factoring risk in duration and cost using PERT estimates
• Earned Value Management and reducing risks

Topic 7: Perform Quantitative Risk Analysis 

• Data Gathering & Representation techniques
• Modelling & Simulation, Probability distribution
• Monte Carlo Simulations
• Tornado diagrams, sensitivity analysis, criticality analysis
• Decision trees
• Risk Expected Monetary Value (EMV) calculation

Daily Review and Q/A Session

Topic 8: Plan and Implement Risk Responses 

• Strategies for positive and negative risks
• Risk and  contract type selection
• The risk response action plan
• Contingency planning, calculating the contingency fund
• Implement Risk Response
• Secondary and residual risks

Topic 9: Monitor and Close Risk 

• Risk re-assessment
• Managing contingency reserves
• Risk audits, trend analysis

Daily Review and Q/A Session

Topic 10: Enterprise Risk Management

• Portfolio and program levels risk management
• Enterprise Risk Management (ERM)
• Governance, Risk and Compliance (GRC)

Topic 11: Risk Management Exam Review 

• Full Sample Exam

Anderson Certificate of Completion will be provided to delegates who attend and complete the course