Project Risk Management

Updated to align with the 6th Edition of the PMBOK® Guide, this course covers the Project Risk Management knowledge area. Learn how to identify risks, plan for risk management, analyze risk factors, and develop, implement, and monitor risk responses.
Course info
Level
Intermediate
Updated
Mar 19, 2018
Duration
3h 40m
Table of contents
Course Overview
Planning Risk Management
Identifying Project Risks
Performing Qualitative Risk Analysis
Performing Quantitative Risk Analysis
Planning Risk Responses
Implementing Risk Responses
Monitoring Project Risks
Description
Course info
Level
Intermediate
Updated
Mar 19, 2018
Duration
3h 40m
Description

Updated to align with the 6th Edition of the PMBOK® Guide, this course, Project Risk Management is the eleventh course in Pluralsight’s series preparing you for the newest version of the PMP® exam. This course explores many of the processes found in the Project Risk Management knowledge area. First, you'll begin with a look at effective risk management planning. Next, you'll learn how project risk factors are identified, how to apply qualitative and quantitative analysis techniques to better understand risk probabilities and impacts, and how to develop and implement risk responses. Finally, you'll learn how to monitor the project risk environment to ensure nothing stands between you and project success. By the end of this course, you'll be better prepared to assess and navigate your project's risk environment, negating threats and capitalizing on opportunities that can enhance your project's success.

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

Course Overview
Hi everyone, my name is Casey Ayers, and welcome to my course, Project Risk Management. This course is the eleventh entry in our newly-updated series, helping you prepare for the latest version of the PMP exam. By completing this course and others in our PMP prep series, you'll not only be better prepared to ace the certification exam, but critically, will also fulfill the mandatory training requirement that must be met before taking the exam. The PMP, or Project Management Professional certification is consistently listed as one of the top five most valuable certifications for IT professionals and is also broadly applicable to a wide range of industries. Given how much new value can be created from successful projects, businesses in all sectors and of all sizes need capable project managers today. A PMP builds the skills needed to succeed and opens new doors for those with this certification. Some of the major topics we'll cover in this course include planning for risk management and identifying project risk factors, applying qualitative and quantitative analysis techniques to identified risks, developing and implementing risk responses, and ensuring our risk management efforts are effective through monitoring. By the end of this course, you'll be better prepared to manage risks and capitalize on opportunities that can make the difference between your project's success of failure. This course, and others in the series, cannot only help you learn more about project management and prepare for the PMP exam, but also serve as a great refresher for established project managers and as an opportunity to earn continuing education credit. I hope you'll join me on this journey to prepare for the PMP exam and learn about project risk management, here at Pluralsight.

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 it 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 they'll occur, what the probabilities might look like, and what kind of impact they'll have our project if they do transpire. After that, we'll look at the Perform Qualitative Risk 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, tools and techniques, and outputs of the plan risk response process as found in the PMBOK Guide. Let's get started.

Implementing Risk Responses
Welcome back. In this brief module, we're going to move past identifying and analyzing, as well as creating plans for how we're going to respond to our risks and look at how we actually implement our project risk responses. First, we'll look at some of the things that we should keep in mind when we move from planning into execution when it comes to the ways that we're going to combat project risks and seek to leverage project opportunities. Then we'll look at the inputs, tools and techniques, and outputs associated with this process. Let's jump right in.

Monitoring Project Risks
Welcome back, in this module we're going to discuss monitoring project risks. Now that we've identified risks, put them through their paces of analysis, developed and begin to implement our plans for risk responses, it's time to ensure that our responses have actually proved effective in aligning with our risks and that our identification and analysis of risk were also valid and accurately portray how risks can impact our project. We'll begin by first first looking at how we monitor risks within the project environment and then we'll look at the inputs, tools and techniques, and outputs associated with this process. Let's get started.