PMP® Exam Prep – Project Risk Management

This retired course is based on version 5 of the PMBOK® Guide.
Course info
Rating
(52)
Level
Intermediate
Updated
Jul 30, 2015
Duration
3h 20m
Table of contents
Planning Risk Management
Identifying Project Risks
Performing Qualitative Risk Analysis
Performing Quantitative Risk Analysis
Planning Risk Responses
Controlling Project Risks
Description
Course info
Rating
(52)
Level
Intermediate
Updated
Jul 30, 2015
Duration
3h 20m
Description

This is the eleventh course in the PMP® series. Inside, we discuss how risks are managed in the project environment, identifying project threats and opportunities to qualitatively and quantitatively analyze them, and planning responses and performing risk control.

About the author
About the author

Casey has experience leading projects in many fields, including healthcare, digital media, mobile app development, consumer product design, education, and event management. He's constantly in pursuit of new challenges and loves to share what he learns along the way with others.

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Section Introduction Transcripts
Section Introduction Transcripts

Identifying Project Risks
Welcome back! In this module, we're going to talk about identifying project risks and the associated identify risks process. First, we'll touch on the process and what goes into it, what the benefit is to us as project managers, to risk management, and to the project team at large. After that, we'll take a closer look at the wide variety of inputs, as well as tools and techniques that exist in terms of identifying risks. And then we'll look at the risk register and the place of importance that it holds within risk management as well. Let's get started.

Performing Qualitative Risk Analysis
Welcome back! In this module, we're going to talk about performing qualitative risk analysis. First off, we'll discuss qualitative risk analysis and what we seek to achieve using this process. After that, we'll look at how we assess various project impacts and how we can help to project risks to have some idea of whether or not they'll occur, what the probabilities might look like, and what kind of impact they'll have on our project if they do transpire. After that, we'll look at the perform qualitative risks analysis process as found in the PMBOK Guide. Let's get started.

Performing Quantitative Risk Analysis
Welcome back! In this module, we're going to talk about performing quantitative risk analysis. First, we'll talk about what separates quantitative analysis from qualitative analysis that we discussed previously. Then, we'll look at the role of interviews in quantitative analysis, as well as how probability distributions can be employed. Then, we'll look at sensitivity analysis followed by expected monetary value analysis, and then modeling and simulation before we dive into the inputs, tools and techniques, and outputs of the perform quantitative risk analysis process as found in the PMBOK Guide. Let's get started!

Planning Risk Responses
Welcome back! Now that we've identified risks, and we've placed them through both qualitative and quantitative risk assessment, it's time to plan our responses to find ways to combat threats and to leverage opportunities. First, we'll talk about some of the general concepts that are necessary for planning any type of risk response. Then we'll look more specifically at responding to negative events and responding to positive events. After that, we'll look at the inputs, tool and techniques, and outputs of the plan risk response process as found in the PMBOK Guide. Let's get started!

Controlling Project Risks
Welcome back! In this module, we're going to talk about controlling project risks. Now that we've identified them and we've provided assessment and developed risk plans, it's time to begin implementing those plans we put together and to make sure that they're meeting up with our risks the way that we intended. First, we'll take a look at controlling project risks at a conceptual level and discuss some of the things we hope to achieve in this process. After that, we'll look at the inputs, tools and techniques, and outputs of the control risk process as found in the PMBOK Guide. Let's get started!