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Exam Preparation

Risk Management Professional

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Course Overview

Advanced skills in project risk management has taken on a more significant role as professionals are expected to perform specialized functions attuned to the needs of a project environment that is increasingly global, virtual and complex. The PMI Risk Management Professional (PMI-RMP)® highlights participants’ ability to identify and assess project risks, mitigate threats and capitalize on opportunities. In this capacity, participants will learn to enhance and protect the needs of their organization.
The PMI-RMP® designation sets participants apart from other professionals and brings credit to their organization. After completing this practical course and passing the exam, the PMI-RMP will validate participants’ specialized expertise.
This 5-day interactive course will prepare participants to achieve the PMI-RMP® certification and earn the required Product Development Units (PDUs) to sit the exam. Through real-life scenarios, participants will review risk management terminology and well-known practices, and leverage PMI’s five domains of practice to create a plan that maximizes their chances of effectively preparing for The PMI-RMP® exam.

Key Takeaways

Apply risk management practices in specific project situations
Understand PMI’s risk management guidelines through the six processes and five domains
Understand the challenges of embracing and transitioning into a more defined risk management approach
Determine what risk management approach to adopt taking into account the project situation and environment
Successfully adapt to a more risk centric approach
Prepare for the PMI-RMP® exam while completing the required contact hours/PDUs
Practice for the exam with sample questions, quizzes and exercises

Project Management Institute
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PMI is one of the world’s largest notfor-profit membership associations for the project management profession. Our professional resources and research empower more than 700,000 members, credential holders and volunteers in nearly every country in the world to enhance their careers, improve their organizations’ success and further mature the profession. PMI™ and PMP® are registered marks of Project Management Institute, Inc.

Course Outline

Day 1
Introduction to the PMI-RMP® Exam and Risk Management Principles
→ Recognizing key risk management terms and definitions
→ Risk management’s role in project management
→ Mapping tools, techniques, knowledge and skills to PMI’s five domains of project risk management
→ PMI’s risk management processes overview
Plan Risk Management
Create a plan for handling risk management for the project
→ Adapt any policies and procedures for risks to the needs of the project
→ Tailor risk management activities to the needs of the project to make sure the level, type and visibility of the activities are commensurate with:
• The type and size of the project
• The experience of the project team
• Risk Management Roles
• Risk Governance Structure
→ The perceived level of project risk
→ The importance of the project to the organization
Group exercise and practice questions
Day 2
Identify Risks
→ Identify and record initial list of threats and opportunities for the project
• By work package
• By categories
→ Identify watch-list items
→ At range risks in a cause-risk-effect format
→ Identify source of risks
Group exercise and practice questions
Perform Qualitative Risk Analysis
→ Subjectively evaluate the probability and impact of each risk
→ Create prioritized list of risks
→ Risk Score/Risk Priority Number
→ Refine Risk Register
→ Describe how to make go/no-go decisions based on risk impact and probability assessment
Group exercise and practice questions
Day 3
Perform Quantitative Risk Analysis
→ Comprehend how to decide which risks warrant a response
→ Objectively evaluate the probability and impact of each risk on the overall project risk level
→ Determine the level of risk the project currently has and whether that level of risk is acceptable for the expected gain from the product of the project
→ Determine how much the project will cost and how long it will take if no further risk management actions are taken to decrease project risk
→ Analyze which risks require response planning
→ Calculate the probability of achieving cost or schedule objectives for the project
→ Quantitative risk analysis tools
• Monte Carlo
• Latin Hypercube Sampling
• Sensitivity Analysis
• Expected Monetary Value
→ Date Gathering and Representation Techniques
→ Refine Risk Register
Group exercise and practice questions
Plan Risk Responses
→ Determine what can be done to reduce the overall risk of the project by
• Decreasing the probability and impact of threats
• Increasing the impact of opportunities
→ Comprehend how to maintain Risk Register, including
• How to analyze activities with the highest score
• Most common causes of risk
• Any individual activities with high risk scores
→ Refine Risk Register
Group exercise and practice questions
Day 4
Control Risks
→ Implement risk response plans
→ Comprehend how to manage the contingency and management reserves
→ Identify workarounds
→ Assess how to control project risks
→ Perform additional risk identification, analysis and risk response planning
→ Re-estimate the project
→ Create lessons learned
→ Evaluate the risk impact of scope, schedule, cost, and other change requests
→ Re-evaluate Risk Governance
→ Re-assess roles and responsibilities for risk governance
→ Develop ability to create and evaluate standards, policies, procedures and practices
→ Describe methods to manage lessons learned
→ Comprehend techniques to create risk metrics
Group exercise and practice questions
Day 5
Fill in the Gaps/Preparing to Pass the Exam
→ Review of Course Content
→ Defining your exam preparation strategy
→ Exam format and process
→ Applying proven tips for exam success
→ Optimizing your study time and focus

Who Should Attend?

This highly practical and interactive course has been specifically designed for
This training course is appropriate for senior auditors, audit executives and audit committee members seeking professional development to learn, enhance or implement best practices in their organization.

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What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected].
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.