Risk Management, Tricks of the Trade® for Project Managers eLearning Course

Course Description

Through audio, interactive exercises, animations, quizzes, and examples, this course will cover risk management, explain the errors people make each step of the way, and provide Tricks of the Trade® from around the world for advanced risk management. Based on Rita Mulcahy's award winning book Risk Management Tricks of the Trade® for Project Managers, this captivating course is updated and full of practical information to help improve your risk management efforts.

Course Learning Objectives

Upon completing this course, you WILL be able to:

  • Apply good risk management practices
  • Improve your ability to identify risks for your projects
  • Identify gaps in your knowledge that may hurt you and your projects
  • Apply many new Tricks of the Trade® to your projects
  • Be a better project or program manager, business analyst, project team member, or sponsor
  • Believe and understand the value of performing risk management

Target Audience

This course is ideal for people who need advanced project management training or who already have an understanding of risk management and want to focus on the Tricks of the Trade® and common errors. It is also an excellent way to learn something useful while collecting PDUs toward retaining your PMP®, or contact hours toward earning a PMI-RMP® certification!

Course Outline

  • Welcome
    • How to Use this Course
    • About RMC Learning Solutions
    • Why Should You Care about Risk Management?
    • Course Outline
    • Tricks of the Trade®
  • Terminology
    • Plan for Risks
    • Identify Risks
    • Qualitative Risk Analysis
    • Quantitative Risk Analysis
    • Risk Responses
    • Evaluate
    • Types of Risk
    • A Risk is Not a Fact
    • Risk Factors
  • Setting the Stage
    • Project Background Information
    • Project Charter
    • Stakeholder Register
    • Enterprise Environmental Factors
    • Organizational Guidelines
    • Project Scope Statement
    • Assumptions and Constraints
    • Time and Cost Estimates
    • WBS and WBS Dictionary
    • Network Diagram
    • Resource, Communication, and Procurement Plans
  • Plan
    • Risk Planning Objectives
    • PMO and Governance Body
    • Risk Management Department
    • Risk Team
    • Responsibilities Chart
    • Risk Management Plan
    • Tailor Risk Management Activities
  • Where to Start Looking for Risks
    • What Should Be in Place
    • Before You Identify Risks
    • Gain Support
    • Look Within the Organization
    • Published Articles
    • Associations
    • Competition
    • Customers
    • Quantity is Quality
  • Tricks of the Trade® to Identify Risks
    • Review Historical Records and other Documentation
    • Meet Face-to-Face
    • Create a Prompt List
    • Prompt List Categories
    • Brainstorming
    • Get the Most out of Brainstorming
    • Brainstorming Advantages and Disadvantages
  • More Tricks to Identify Risks
    • Pre-Mortem Advantages and Disadvantages
    • Affinity Diagrams
    • Expert Interviews
    • Expert Interview Tricks of the Trade®
    • Delphi Technique
  • Even MORE Tricks to Identify Risks
    • Combine Identification Techniques
    • Equalize Participation
    • Use Anonymity
    • Common Risk Identification Mistakes
    • How Do You Know When You're Done?
    • Ask Yourself Key Questions
  • Well-Defined Risks
    • Is it a Risk?
    • Tricks of the Trade® to Define Risks
    • Cause
    • Risk
    • Effect
    • Look for the Root Cause
    • Clarify Risks
    • Create Separate Threats and Opportunities Lists
  • Risk Documents
    • Risk Documents
    • Forms
    • Checklists
    • Sticky Notes
    • RMC Risk Notes
    • Risk Register
  • Start Qualitative Risk Analysis
    • What Does Qualitative Risk Analysis Do?
    • Are You Ready?
    • Assumptions Testing
    • Data Quality Assessment
    • Probability and Impact Scales
    • Interpret Impact Scales
    • How to Determine Probability and Impact
  • Qualitative Risk Rank and Score
    • Calculate Risk Score
    • Risk Ranking Methods
    • Project Risk Score
    • Project Risk Threshold
    • Strategic Risk Thresholds
    • Risk Score in the Organization
    • Risk Ranking between Projects
    • Risk Ranking Strategies
  • Document Qualitative Risk Analysis Results
    • Go/No-Go Decision
    • Risk Register
    • Non-Top Risks
    • Consider Risky Activities for Analysis
    • Move Common Cause Risks Forward
    • Show Risky Activities on a Network Diagram
    • Use a Bar Chart
    • Proceed to Quantitative Risk Analysis if…
  • Start Quantitative Risk Analysis
    • Why do Quantitative Risk Analysis?
    • Not the Most Important Part of Risk Management
    • Methods to Quantitatively Assess Risks
    • EMV Calculation
    • EMV Analysis
    • Documenting "Non-Top" Risks
    • Expected Value
    • Risk Exposure
  • Analyze Quantitative Risk Estimates
    • Three-Point Estimate
    • Monte Carlo Simulation
    • What If Analysis
    • Decision Trees
    • Tricks to Quantify Risks
    • Update the Risk Register
  • Start Risk Response Planning
    • Why Figure Out Risk Response?
    • Engage Stakeholders in Risk Response Planning
    • Foster Creativity
    • What Approach Should You Use?
    • Risk Outside Your Control
    • Four Levels of Risk Response
    • Risk Responses for Threats
    • Risk Responses for Opportunities
    • Select Risk Response Strategies
  • Risk Response Options
    • Avoid the Threat
    • Mitigate the Probability
    • Mitigate the Impact
    • Transfer the Risk
    • Accept the Risk
    • Exploit the Opportunity
    • Enhance the Opportunity
    • Share the Opportunity
    • Solicit Expert Opinions and Encourage Ideas
  • Risk Response Plans and Roles
    • Threat Risk Response Template
    • Opportunity Risk Response Template
    • Risk Response Effect on Project Management Plan
    • If You Have Not Met Objectives…
    • Unrealistic Budgets
    • Unrealistic Schedules
    • Residual Risks
    • Risk Owner
    • Risk Action Owner
    • Triggers
  • Contingency and Fallback Plans
    • Contingency Plan
    • Fallback Plan
    • Secondary Risks
    • Contingency Plan for Secondary Risks
  • Reserves
    • Project Budget and Schedule
    • 10-percent Method
    • Guess
    • EMV and Expected Value
    • Monte Carlo Simulation
  • Risk Response Tricks of the Trade®
    • Prove Value to Get Acceptance
    • Go/No-Go Decision
    • Contracts
    • Insurance
    • Are you Ready to Plan Responses?
    • Don't Settle for First Choice
    • Do Risk Response Planning in a Group
    • Let the Risk Team Know the Process
    • Turn Threats into Opportunities
  • Put Risk Responses into Action
    • What Should the Project Manager Do?
    • Triggers
    • Manage Highest Risk Path
    • Workarounds
    • Risk or Issue?
    • Integrated Change Control
  • Evaluate Risk Management
    • Measure Project Risk
    • Earned Value Analysis
    • Integrated Change Control
    • Determine Corrective Action
  • Risk Audits and Reviews
    • Manage Reserves
    • Stakeholders Understanding of Reserves
    • Risk Audit
    • Risk Review
    • Good Risk Review Questions
    • Risk Audit and Review Tricks of the Trade®
    • Project Warning Signs
    • Look for Risks When Validating Scope
  • Risk Communication
    • Re-Estimate the Project
    • When to Re-Estimate the Project
    • Decrease Risks by Communicating
    • Communicate Risks
    • Accumulate Project Risk Information
    • Communicate with Other Project Managers
    • Risk Reserve Report
    • Lessons Learned Tricks of the Trade®
  • End of Course Wrap-up
    • Project Scenario Activity
    • Review Quiz
    • Congratulations!

Technical Requirements

  • Cross-platform compatible with Microsoft Internet Explorer 8.0 and higher, or any version of Firefox, Chrome, Safari, or Edge.
  • Requires a device (computer or tablet—6 inch screen minimum) connected to the Internet.
  • Broadband Internet recommended.
  • JavaScript and cookies must be enabled in your browser.
  • Pop-ups should be allowed.
  • This course will use data if viewed in a mobile environment.

TECHNOLOGY UPDATE: Please note that RMC is in the process of updating all eLearning courses from an Adobe Flash platform to an HTML5 platform. Courses that have not yet been converted will have a technical specification that differs from the one above. Click here for more information.

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