Defining and Identifying Project Risk

PMP 2021 Update – Defining and Identifying Project Risk

Overview/Description Managing risks means preparing ahead of time for all the things that could happen, good or bad. If you’re responsible for project management, it’s necessary to identify risks so that you can make a plan to deal with them. Project risk management improves the chance of project success enormously.

In this course, you’ll explore risk identification, including its attendant threats and opportunities and its probability and impact. You’ll learn about establishing a risk threshold and risk tolerance based upon project assumptions and constraints. You’ll also learn the value of root cause analysis and SWOT analysis when defining your project’s risk appetite. This course will assist learners in preparing for PMI’s PMP Exam (2021 Update).

Expected Duration (hours): 0.9 Lesson Objectives

· discover the key concepts covered in this course

· define what is meant by project risk

· recognize examples of project risk

· identify three factors about a risk you need to determine in order to reduce uncertainty

· identify the tools and techniques used for planning risk management

· distinguish between the three risk ratings in an ordinal scale

· identify activities that should be part of a document analysis to identify project risks

· identify guidelines for conducting a brainstorming session to identify project risks

· recognize when interviewing is a good method for gathering risk information

· match types of causes of project risk with examples

· categorize items that would be used to perform a SWOT analysis

· identify the questions that would be asked during an assumption and constraint analysis

· identify two documents you may gather information from when using checklists to identify risks

· Knowledge Check: Reviewing Your Project Risk Analysis Skills

Course Number: bs_apj30_a04_enus

CPE Credit: 1.5