Subtitles of the Movie

In this movie we'll look at the fourth Domain of the PMI RMP Certification Exam, which is Risk Governance. Risk Governance accounts for 17 percent of the Exam questions. As I mentioned in an earlier movie the following are the Risk Governance Exam Domain Objectives: Document and record lessons learned; Refine risk policies and practices; Create the risk management plan; Establish metrics for risk management processes; Exam process performance; Monitor risk performance; and, Identify relevant policies and standards. Unlike some of the other Domains we've covered, Risk Governance has a heavy presence at the beginning and the end of the Risk Management cycle. It calls for the creation of the Risk Management Plan, as well as evaluating and monitoring performance. The closing procedure, which includes documenting and archiving the project information and lessons learned, is also encompassed within Risk Governance. It includes things like: Establishing metrics and guidelines for processes to follow; Identifying the policies and standards; and, then examines the process performance with the intention of continuing to drive process improvement. When risk performance warrants corrective action it's governed by this Domain, and I mention it in passing that the creation of the Risk Management Plan is part of Risk Governance and involves utilizing policies and standards to guide the Risk Management activities. Here are some additional notes to know about Risk Governance: Creation of the risk management plan; the Framework of the processes How to document and archive lessons learned; Risk policies and practices; Continuous process improvement; Evaluate performance through defined baselines; Interpreting metrics, Conflict management; and, Results measurement. Some of these items we'll cover in this course, Part 1, while others will be covered in Part 3 of the Course Series. And that wraps up this movie on the Risk Governance Exam Domain.