Risk Analysis (PMBOK® Guide Fifth Edition)

Existing project managers pursuing certification in recognition of their skills and experience, or others training to become accredited project managers

Prerequisite
None

Expected Duration
74 minutes

Description
The science of project management was founded, in large part, to manage risk and prevent it from negatively affecting project objectives, schedules, and budgets. Risk in any project is unavoidable. Fortunately, there are proven methods to identify and analyze potential threats so that appropriate risk responses are developed and the project’s level of exposure is controlled. Risk analysis has become an important discipline within the field of project management. It involves prioritizing risks and assessing each identified risk’s probability of occurrence and potential impact, whether positive or negative. This course explores both qualitative and quantitative risk analysis techniques. Specifically, learners will be introduced to qualitative tools like the probability and impact matrix, risk probability and impact assessment, and risk urgency assessment. Quantitative risk analysis techniques include data gathering and representation and quantitative modeling techniques. This course provides a foundational knowledge base reflecting the most up-to-date project management information so learners can effectively put principles to work at their own organizations. This course will assist in preparing the learner for the PMI® certification exam. It is aligned with A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition, published by the Project Management Institute (PMI®), Inc., 2013. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI®.

Objective

Qualitative and Quantitative Risk Analysis

  • match the inputs to the Perform Qualitative Risk Analysis with the information they provide
  • prioritize risks based on given probability and impact ratings
  • match qualitative risk analysis techniques with examples of results
  • identify documents that need to be updated following qualitative risk analysis
  • match the inputs to quantitative risk analysis with the information they provide
  • recognize examples of information you should gather about risks during an interview
  • identify types of probability distribution graphs
  • identify the purpose of sensitivity analysis
  • calculate the expected monetary value of a risk
  • interpret a graph that displays cost risk simulation results
  • identify types of information that may be added to the risk register following quantitative risk analysis
  • demonstrate your understanding of how to perform qualitative and quantitative risk analysis

MONTHLY SUBSCRIPTION

$129/month
 

ANNUAL SUBSCRIPTION

$1295/year

Multi-license discounts available for Annual and Monthly subscriptions.