About the Course

This 5-day intensive Project Risk Management (RMP) training course is based on the Risk Management Professional (RMP) examination outline and guide published by the Project Management Institute for the certification exam preparation course. It offers a complete study of project risk management methods, tools, and techniques (RMP) (PMI). The delegates will acquire advanced experience applying the six-step risk process throughout the program. The planned activities will entail understanding risk management, identifying risks, performing qualitative and quantitative risk analyses, planning risk responses, and monitoring and controlling risks. Being able to define and understand how to develop a risk management plan that encompasses all of the stakeholder groups, the creation of a risk breakdown structure (RBS), the utilisation of probability impact matrices and decision tree analysis to evaluate priority, the identification of optimal response strategies to exploit, share, enhance, accept, or mitigate risks, the establishment of contingency reserves, and the implementation of trigger metrics and audits to re-evaluate expectations and strategies are some of the key topics that are covered.

Delegates will define and begin developing a risk management procedure for a project in their organisation. After completing the training program, they can lead, advise, or assist in implementing end-to-end risk programs inside their business. They will comprehensively understand the PMI's RMP body of knowledge and perspective around project uncertainty.

Core Objectives

The delegates will achieve the following objectives:

• Explain core principles and processes from PMI's Risk Management Professional (RMP) body of knowledge
• Develop a risk management plan outlining roles, tools, and standards for a project
• Construct a risk breakdown structure and identify threats and opportunities using the provided prompts
• Perform qualitative and quantitative risk analysis to determine priority using probability, impact, expected value, and decision tree methods
• Identify optimal risk response strategies, including avoiding, transferring, mitigating, and accepting to develop contingency plans and reserves
• Establish risk monitoring, audits, and triggers to reassess threats and opportunities
• Use provided simulation tools and templates to apply risk concepts to case study scenarios
• Complete a simulated RMP certification exam covering the risk knowledge areas

Training Approach

This training course will use an interactive approach focused on peer collaboration, team-based workshops, and risk management simulations tailored to traditional classroom environments. After expert-facilitated working sessions to demonstrate risk principles, delegates will break into small groups to employ risk identification checklists, assess opportunities and threats through probability and impact ranking, develop risk response strategies and action plans based on provided case studies, and prepare presentations reviewing risk recommendations. They will present their workshop outputs and obtain faculty feedback. Rather than electronic simulations, in-class role-play and table-top modelling of project risks will allow delegates to gain hands-on experience. These activities centered around real-world cases will teach professionals to lead, advise, or support risk programs.

The Attendees

This training course is ideal for professionals currently managing or sponsoring high-risk, complex projects and programs seeking best practices for identifying, prioritising, and responding to project uncertainties and threats. Delegates should have foundational project management knowledge and lead cross-functional teams to maximise the relevance of learning.

Likewise, it will be valuable to the professionals but not limited to the following:

• Project Managers
• Program Managers
• Project Team Leads
• Risk Managers
• Business Analysts
• PMO Directors
• Project Controllers
• Operations Managers
• IT Managers
• Executive Sponsors

Daily Discussion

DAY ONE: INTRODUCING PROJECT RISK MANAGEMENT

• Foundations of Risk Management: Definitions, Standards, and Process Overview
• Organisational Risk Policies and Risk Management Plan Development
• Stakeholder Risk Appetite Analysis
• Risk Breakdown Structure Construction
• Risk Prompt Categories Identification
• Risk Register Templates
• Qualitative Risk Identification Techniques

DAY TWO: QUALITATIVE RISK ANALYSIS

• Probability Definition and Evaluation
• Impact Definition and Evaluation
• Risk Categorisation Matrices Development
• Data Quality Assessment Techniques
• Risk Urgency and Trend Evaluation
• Expert Elicitation and Interview Techniques
• Risk Register Documentation

DAY THREE: QUANTITATIVE RISK ANALYSIS

• Sensitivity Analysis Approaches
• Expected Monetary Value Formulas
• Decision Tree Analysis Constructs
• Monte Carlo and Latin Hypercube Modelling Methods
• Tornado Diagrams and Scenario Analysis
• Contingency Determination Techniques
• Quantitative Risk Register Documentation

DAY FOUR: RISK RESPONSE PLANNING

• Avoidance, Transference, Mitigation, and Acceptance Strategies
• Contingency Plans, Reserves, and Triggers Development
• Residual Risk Techniques
• Secondary Risk Evaluation
• Risk Response Audits Constructs
• Response Strategy Documentation
• Risk Ownership and Accountability Assignment

DAY FIVE: RISK MONITORING AND FINAL EXAMINATION SIMULATION

• Risk Reassessment Triggers and Events
• Quantitative Re-Evaluation Formulas
• Risk Audit Frameworks
• Risk Monitoring Techniques and Plan Development
• RMP Exam Requirements Review
• RMP Certification Requirements based on PMI
• Continuous Risk Management Improvement Processes