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What You Will Learn

  • How to identify risks, employing well-established processes that surface potential risk events
  • How to assess the quantitative and qualitative impacts of risk events, using a set of well-established risk management tools
  • How to handle risk, using well-established risk handling approaches, such as risk mitigation, risk acceptance, risk deflection, and risk avoidance
  • How to monitor and control risk
  • How to see opportunities in risky situations

PMBOK® Guide Process Areas

  • Initiating processes
  • Planning processes
  • Executing processes
  • Monitoring and control processes
  • Closing processes

PMBOK® Guide Knowledge Areas

  • Project Risk Management
  • Project Scope Management
  • Project Cost Management
  • Project Time Management
  • Project Human Resource Management
  • Project Procurement Management


  • Course modules containing cutting-edge knowledge developed by renowned experts in project management
  • Course Textbook: Managing Risk in Organizations, by J. Davidson Frame
  • Mentors Studio™ CD-ROM: The Quantitative vs. Qualitative Perspective in Risk Management, featuring Dr. Ed Naser
  • "Think and Review" section that helps you review key points of the modules
  • Answers to the "Think and Review" section
  • A final exam which contains multiple choice and true/false questions
  • Certificate of Completion.

Topics Covered

  • Risk management life-cycle
  • Special features of different kinds of risk: project risk, business risk, operational risk, technical risk, and political risk
  • Use of probability distributions, expected value, simulations
  • Qualitative factors: building a strong WBS, achieving consensus on risk likelihood and impact, implementing good processes
  • Construction and use of risk scoring sheets, impact-likelihood matrices, risk-oriented WBSs
  • Key risk-handling strategies: risk transfer, risk mitigation, risk avoidance, risk acceptance
  • Establishing contingency reserves and management reserve

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