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Preparation for Project Risk Management Specialist Certification

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Preparation for Project Risk Management Specialist Certification


The course utilizes a combination of interactive techniques, such as brief presentations by the consultant and participants. The course also features group exercises, simulations, and a question bank to assist participants in practicing for the exam.

Course Objectives

By the end of the course, participants will be able to:

  • Define key terms and concepts related to risks and establish a solid framework for risk management.
  • Plan risk management and manage the risk register.
  • Identify project risks using various techniques.
  • Qualitatively assess project risks to determine the overall project risk outcome.
  • Quantitatively estimate the cumulative impacts of risks using techniques like Monte Carlo simulation and decision tree analysis.
  • Develop effective response strategies for positive and negative risks based on their priorities.
  • Review and monitor project risks through reassessment and auditing.

Target Audience

This course is designed for project risk managers, risk owners, project managers, project office members, project sponsors, functional managers, senior management, and individuals interested in project risk management.

Program Content

  • Introduction to project risks.
  • Risk definitions.
  • Pure risks and business risks.
  • Benefits of project risk management.
  • Project risk management processes.
  • Risk management planning.
  • Stakeholder risk appetite.
  • Risk management plan elements.
  • Risk breakdown structure.
  • Probability and impact assessment.
  • Project risk identification.
  • Brainstorming and Delphi technique.
  • SWOT analysis.
  • Project risk breakdown structure.
  • Risk register.
  • Qualitative risk analysis.
  • Estimating the likelihood of risks and their consequential impacts.
  • Categorizing risks within the project.
  • Risk severity assessment.
  • Calculating the project risk score.
  • Quantitative risk analysis.
  • Probability distributions.
  • Monte Carlo simulation.
  • Sensitivity analysis.
  • Expected monetary value analysis.
  • Decision tree analysis.
  • Risk response strategies.
  • Strategies for negative risks (threats).
  • Strategies for positive risks (opportunities).
  • Contingency planning strategy.
  • Secondary and residual risks.
  • Applying appropriate response actions and risk monitoring.
  • Risk auditing.
  • Risk review.
  • Problem-solving and solution finding.

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