Research and Markets: Project Risk Management (PMBOK Guide – Fourth Edition-aligned)

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/781305/project_risk_manag) has announced the addition of the "Project Risk Management (PMBOK Guide - Fourth Edition-aligned)" training bundle to their offering.

This training bundle consists of the following four courses:

(1) Risk Management Planning

There are a few questions that every project manager should ask at the beginning of a project: What do we hope to gain from this project? What kinds of things could keep that from happening? How should we respond if those events occur? Every project involves some degree of risk. Identifying potential risks and having a plan for dealing with them can spell the difference between a project that reaches a successful conclusion and one that does not.

In this course, learners will be introduced to the Project Risk Management knowledge area. It covers the best practices outlined in A Guide to the Project Management Body of Knowledge (PMBOK Guide) Fourth Edition published by the Project Management Institute (PMI). Specifically, learners will be introduced the first process in the Project Risk Management knowledge area: Plan Risk Management. Techniques such as creating a risk management plan and preparing documentation for the risk identification and analysis processes will be covered in detail. 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 PMBOK Guide certification exam. This course is aligned with the PMBOK Guide Fourth Edition, published by PMI, Inc., 2008. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI.

Lesson Objectives:

• recognize types and examples of project risk
• recognize examples of risk management activities
• match the Project Risk Management processes with their associated project management process group(s)
• match the inputs to planning risk management with the information they provide
• identify the technique used for the Plan Risk Management process
• match elements of the risk management plan with examples
• identify sections of the risk management plan
• recognize the principles of risk tolerance, probability, and impact

(2) Performing Risk Analysis

Risk in any project is unavoidable. It doesn't matter how much experience a project manager has, risks will always be present. 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.

The science of project management was founded, in large part, to manage risk and prevent it from negatively affecting project objectives, schedules, and budgets. 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 PMBOK certification exam. It is aligned with A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Fourth Edition, published by the Project Management Institute (PMI), Inc., 2008. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI.

Lesson Objectives

• match the inputs to qualitative risk analysis with the information they provide
• prioritize risks based on given probability and impact ratings
• use a probability and impact matrix to determine the score of a given risk
• match qualitative risk analysis techniques with examples of results
• identify the areas of a risk register that may need to be updated or added after a qualitative risk analysis
• match the inputs to quantitative risk analysis with the information they provide
• predict the probability distribution that will represent a given set of risk data
• match the types of probability distributions with graphics
• match quantitative risk analysis techniques to examples of when each would be used
• perform a decision tree analysis given risk data
• interpret a graph that displays cost risk simulation results
• match components of the output of quantitative risk analysis with descriptions

(3) Risk Response, Monitor, and Control

Life is filled with uncertainties, and these uncertainties can affect our decisions and outcomes. Whenever decisions are made without prior knowledge or experience there is always a chance of risk. When dealing with projects, it is the project manager's job to assess and control risks, avert or minimize its adverse effects, and to capitalize on potential opportunities over the life of a project. In this course, the last two processes in the Project Risk Management knowledge area Plan Risk Responses and Monitor and Control Risks will be introduced.

Specifically, the learner will be introduced to strategies for handling both negative and positive risk, and how to monitor and control these risks. This course will also cover all the necessary project documents and plans that require updates as these processes are performed. This course is aligned with A Guide to the Project Management Body of Knowledge (PMBOK Guide) Fourth Edition, published by the Project Management Institute (PMI), Inc., 2008. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI.

Lesson Objectives:

• match the inputs to planning risk responses with examples of the information they provide identify best practice tips for effective risk response planning
• match techniques for dealing with negative risks with examples
• match techniques for dealing with positive risks with examples
• calculate the contingency reserve for a given set of risks
• recognize an example of using a contingent response strategy
• match outputs of planning risk responses with examples
• match the inputs to planning risk responses with examples of the information they provide
• recognize examples of the techniques for monitoring and controlling risk
• recognize examples of outputs from risk monitoring and control

(4) Identifying Project Risks

The success of every project relies on a thorough investigation into all potential risks that face the project throughout its life cycle since every project involves some degree of risk. The rewards of investigating potential project risks always outweigh the time investment made in doing so; therefore, no project manager should overlook this vital step. Identifying potential risks and their causes and impacts can spell the difference between a project that reaches a successful conclusion and one that does not.

In this course, learners will continue to learn about processes within the Project Risk Management knowledge area. It covers the best practices outlined in A Guide to the Project Management Body of Knowledge (PMBOK Guide) Fourth Edition published by the Project Management Institute (PMI). Specifically, learners will be introduced to the second of six processes: Identify Risks. The course covers risk identification methods such as group information gathering techniques, diagramming techniques, and SWOT, assumptions, and checklist analyses. The results of these methods are compiled in the risk register, which is also covered in detail.

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 PMBOK Guide certification exam. This course is aligned with the PMBOK Guide Fourth Edition, published by PMI, Inc., 2008. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI.

Lesson Objectives:

• identify inputs to the Identify Risks process
• identify activities that should be part of a documentation review to identify project risks
• use the appropriate information gathering technique for identifying risks on a given project
• identify the characteristics of a project risk information gathering session
• indicate the risk information gathering techniques that would be appropriate in given situations
• recognize examples of the contents of a risk register
• categorize items that would be used to perform a SWOT analysis
• identify the questions that would be asked during an assumptions analysis
• identify the two documents that are used to complete a risk checklist
• match types of causes of project risk with examples
• assess an example of a cause-and-effect diagram
• identify the risks and causes for a process given a process flowchart
• interpret a basic process flowchart

E-learning course feedback:

"E-learning has dramatically increased the scope, range and availability of training & development to all Equant employees. No other solution could possibly have achieved this in such a short timescale, particularly given the geographical dispersement of our workforce and the commercial realities of our business." - Peter Mansell, Head of Training Centre of Excellence, Equant

"Where e-learning is concerned, I used to be a complete agnostic. But, twelve months on, Im totally converted. Now that we have experienced such measurable benefits, I would have no hesitation in giving e-learning a 100% recommendation to any organisation." - John Guthrie, Head of International Management Development, Hilton International

"Based on our experience to date there is no doubt that e-learning will have an increasingly vital role to play as the company continues to evolve to meet the changing needs of its customers." - Karl Gunner, Aspire Support Consultant, Intelligent Finance

For more information visit http://www.researchandmarkets.com/research/781305/project_risk_manag

Research and MarketsLaura Wood, Senior Manager,
[email protected]
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Source: Research and Markets