Performing Risk Analysis

PMP 2021 Update – Performing Risk Analysis

Overview/Description Project risk management is a key responsibility of the project manager. It requires qualitative and quantitative risk analysis in order to assess risk probability and impact in order to prepare for and mitigate against factors that can derail the project.

In this course, you’ll explore using tools like a probability and impact matrix, risk categorization, and risk urgency assessments to define potential risks. You’ll also learn about data gathering and representation techniques for risk modeling, including decision trees, tornado diagrams, and expected monetary value (EMV). This course will assist learners in preparing for PMI’s PMP Exam (2021 Update).

Expected Duration (hours): 0.8 Lesson Objectives

· discover the key concepts covered in this course

· identify the tools and techniques you can use when performing qualitative risk analysis

· prioritize risks based on given probability and impact ratings

· recognize examples of information you should gather about risks during an interview

· identify the four common types of continuous distribution

· identify the purpose of sensitivity analysis

· calculate the expected monetary value of a risk

· describe how to interpret a cost risk simulation graph

· identify the sections of the risk report you typically update as a result of performing quantitative risk analysis

· Knowledge Check: Reviewing Your Risk Analysis Skills

Course Number: bs_apj30_a05_enus

CPE Credits: 1.0