PMI: Risk Management Professional (Part 1) Tutorials
Risk Management Framework / Risk Response Planning
Subtitles of the Movie (PMI: Risk Management Professional (Part 1) / Risk Management Framework / Risk Response Planning)
The third domain of the PMI Risk Management Professional Exam, and our focus for this movie, is Risk Response Planning, which encompasses 26 percent of the exam questions. In this movie we'll go through a brief review of the Domain similar to the previous movies. As I mentioned at the start of this Section, the Exam Objectives covered within the Risk Response Planning Domain include: Develop a risk response strategy; Develop a contingency approach; and, Present recommendations to key stakeholders. Like the other Domains, the Exam Objectives can be a little deceptive. These three items include a lot of information. As you would expect, much of this information is covered in the Planned Risk Responses Process of the PMBOK Guide. In order to develop a Risk Response strategy you would need to know the types of strategies for negative and positive risk, as well as know what's secondary and residual risks are. Let's say that warning signs have appeared showing that risk is about to materialize. Now what? This Domain addresses this. After appropriate strategies have been identified, a contingency plan is developed as well as contingency reserve. How to execute a Contingency plan, a File. plan, a Workaround, and a Criteria that signals time for execution, is all covered within this Domain. A few additional notes on Risk Response Planning to know and include: the Various risk response techniques; Residual and secondary risk; Reserve management practices; Negative versus positive risk; Interpreting risk-related data; and, Presenting opportunities to stakeholders. We will cover all of this information in Part 3 of the Risk Management Professional Course Series. And that closes out this movie, and in the next movie I'll go through the Risk Governance Domain.
Tutorial Information
| 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 |
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