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The Risk Analysis Domain encompasses 30 percent of the PMI RMP Certification Exam, which is the largest Domain of the four. As you may already be aware, this will include Qualitative and Quantitative Risk Analysis among other things. The four Exam Objectives within this Domain include: Identify risk; Evaluate risk attributes using qualitative and quantitative risk analysis; Prioritize risk; and, Establish control limits. You can see why the PMI RMP Exam includes Risk Analysis as the largest Domain based on the Exam Objectives alone, which cover a lot of information. In order to plan for risk it must be analyzed. Risk Analysis gives the project team tremendous insight, which will guide the Risk Response. It makes logical sense to spend your time and effort on the risks that have the highest probability and impact to the project objectives. In order to determine this, risks must first be identified, then evaluated, and prioritized according to defined metrics and stakeholder risk tolerance. These three steps include: the Identify risk process; Perform qualitative Risk Analysis process; and, Perform quantitative risk analysis process. Setting control limits is also part of Risk Analysis. Control limits are established by assessing risk tolerance levels. The project management team utilizes the control limits to influence and monitor Risk Response. A few additional notes to know about Risk Analysis: Information gathering techniques; Utilizing historical project information; the Qualitative risk analysis tools and techniques; how to utilize quantitative risk analysis tools and techniques; How to perform stakeholder sensitivity analysis; and, Establishing control limits and supporting decision making. We will cover the majority of this information in the second part of the course series. And that concludes this movie on the Risk Analysis Domain.
| Course: | PMI: Risk Management Professional (Part 1) |
| Author: | Vanina Mangano |
| SKU: | 33982 |
| ISBN: | 1-935320-38-6 |
| Release Date: | 2009-04-08 |
| Duration: | 7 hrs / 109 lessons |
| Work Files: |
Yes |
| Captions: | No |
| Compatibility: |
Vista/XP/2000, OS X, Linux QuickTime 7, Flash 8 |