PMI Risk Management Professional Training (PMI-RMP)

PMI Risk Management Professional (PMI-RMP)

Course Description:

This course will provide a detailed overview of Risk Management Modules. These 10 chapters will introduce you to an in-depth understanding of the Risk management activities to perform throughout the project life cycle.


The purpose of the Practice Standard for Project Risk Management training is to ( a ) provide a standard for project management practitioners and other stakeholders that defines the aspects of Project Risk Management that are recognized as good practice on most projects most of the time and ( b ) provide a standard that is globally applicable and consistently applied. This practice standard has a descriptive purpose rather than one used for training or educational purposes.


Risk Management chapter includes the following sections:

  • Risk Strategy and Planning
  • Risk Identification
  • Risk Analysis
  • Risk Response
  • Monitor and Close Risk


Teaching and Learning Methodology:

A combination of lectures, discussions, exercises, and cooperative learning will be used. Active learning will focus on discussions based on trainee project scenarios related to the application of qualitative and quantitative methods that will facilitate decision-making in project management problems in both the local and international contexts and assessed through standard structured response questions. Finally, a summative comprehensive assessment at the end of the course will assess comprehension of the core concepts.


Student Learning Resources:

  • PMI Authorized Exam Preparation Training Material (Practice Standard For Project Risk Management)
  • PMBOK® Guide, 6th Edition. Published by the Project Management Institute, USA
  • Ancillary Materials / Flash Cards/ PPT Slides/Rita Mulcahy Risk Management Preparatory – Rita Mulachy’s RMC Course Manual.
    • The Essentials of Risk Management
    • Wiley’s Project Risk Management Guidelines
    • Project Manager’s Spotlight on Risk Management
  • 1500 Cloned Questions and Answers with explanations.
  • Mock-up Software
  • Recorded Video Session after each class completion through we transfer files
Course Curriculum

The Assessment Strategy must follow the Strategy defined by this Course/Examination Content outline.


Course & Examination Content Outline (CCO/ECO’S)


Risk Strategy and Planning

Gather and review documents

  • Determine and assign who is responsible for the preliminary document analysis (e.g., project manager, risk manager, financial controller)
  • Establish documents relevant to the risk process

Assess the project environment for threats and opportunities

  • Determine which OPA / EEF/project methodology is needed (e.g., agile, waterfall, hybrid, Analyze the different environmental factors to be considered in the planning phase (e.g., PESTLE, SWOT analysis)
  • Determine the organizational and cultural risk appetite
  • Evaluate the project management information system process and data
  • Conduct a stakeholder analysis
  • Analyze constraints to risk management

Confirm risk thresholds based on risk appetites:  Align project risk thresholds to organizational risk appetite

Establish a risk management strategy

  • Establish risk processes and tools
  • Provide risk management templates/forms

Document the risk management plan

  • Define organizational risk roles and responsibilities
  • Prepare a list of the key artifacts/resources that will be used to compile a risk management Certification plan

Plan and lead risk management activities with stakeholders: Train, coach, and educate stakeholders in risk principles and processes in order to create a shared understanding of principles and processes, and foster engagement in risk management.
Give examples of preliminary documents to review prior to risk identification including industry benchmarks (if available), previous lessons learned, historical data, and the sources of the above information

  • Analyze the environment for risk culture maturity
  • Government, market laws/rules, organizational, environmental, and technical risks
  • Discuss risk thresholds
  • Align roles and responsibilities with a project RAM
  • Set appropriate expectations with stakeholders regarding the rules of engagement


Risk Identification

Conduct risk identification exercises

  • Conduct meetings, interviews, focus groups, and other SME support activities
  • Perform detailed analyses of risk identification exercise results

Examine assumption and constraint analyses

  • Leverage the results of the assumption and constraint analysis
  • Categorize assumptions and constraints
  • Assess the risk associated with each assumption and/or constraint

Document risk triggers and thresholds based on context/environment: Assess, confirm, and document risk compliance thresholds, and categories against updated risk data

Develop risk register

  • Analyze the validity of identified risks and triggers
  • Classify risks as threats or opportunities


  • Analyze documents, audio transcripts, telemetry data, etc., and understand the business context of information
  • Recognize the relationship between assumptions and/or constraints, and project objectives
  • Assess and document risk triggers, causes, and timing
  • Examine the risk attributes like probability, impact, urgency


Risk Analysis

Perform qualitative analysis

  • Prioritize the risk based on impact and urgency
  • Apply the risk matrices

Perform quantitative analysis

  • Analyze risk data and process performance information against established metrics
  • Perform a forecast and trend analysis on new and historical information
  • Perform sensitivity analysis

Identify threats and opportunities

  • Assess project risk complexity
  • Assess project compliance objectives against organizational strategic objectives


  • Agreed-upon assessment approach, Historical information, Definitions of probability and impact, Risk categories, Pre-established criteria
  • Assess the results with Monte Carlo, decision trees, critical path, expected monetary value technique
  • Perform SWOT analysis, Ishikawa, and Tree Diagram


Risk Response

Plan risk response

  • Determine appropriate risk response strategy
  • Assess the effectiveness of the risk response actions against the identified strategy and the project objective’s impact
  • Illustrate and communicate the effectiveness of the risk response strategies

Implement risk response

  • Execute the risk response plan
  • Execute the contingency plan


  • avoid, accept, mitigate, enhance, contingency planning
  • Cost, Time & Environment effect of the action on the probability or the risk impact
  • Evaluate and react to secondary and residual risks from the response implementation


Monitor and Close Risk

Gather and analyze performance data

  • Reconcile performance data & reports from risk-relevant work packages
  • Monitor impact against overall project risk exposure to enterprise
  • Monitor residual & secondary risks
  • Monitor risk response and document residual risk
  • Monitor risk response for secondary risks

Provide the information required to update relevant project documents

  • Aggregate and summarize risk data, and update project documents
  • Monitor and close out expired risks

Monitor project risk levels

  • Prepare reports for different stakeholders
  • Communicate risk levels to key stakeholders


  • Analyze data to determine the completion status against the baseline
  • Perform a variance analysis
  • Assess the impact of residual and secondary risks on project objectives
  • Update risk register, lessons learned, project management plan, and change logs
  • Assess the project risk level

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