Risk management is the discipline of managing known unknowns and unknown unknowns. This important function should be performed on all projects, but often professionals are unsure how to do so effectively. Risk Management is an essential component of planning and is vital to the execution of all projects, programs, and portfolios, whether small or large,” states Te Wu, CEO of PMO Advisory. “The central question becomes how can project professionals manage risks effectively, complete projects successfully, and deliver intended goals?”
The prime directive for project risk management is to minimize unknowns, more commonly called surprises. This is true whether the surprises are positive or negative, known or unknown. In today’s large scale, complex projects, risks occur frequently. When managed poorly, risks can endanger projects, often silently, until the threats materialize. The differences between good and great project managers often lie in their abilities to exploit positive risks (or opportunities) while minimizing negative risks (or threats).
At its core the word risk within project management refers to future conditions or circumstances that exist outside of the control of the project team that will have an adverse impact on the project if they occur. A proactive Project Manager tries to resolve potential problems before they occur and risk management is a proactive process that is invoked to attempt to manage these potential problems before they occur, and therefore increase the likelihood of success on the project. From the moment a project idea is conceived to the final steps of project closure, risk is an inherent characteristic of any project. This course takes participants through the risk management processes of planning for, identifying, analyzing, responding to, and monitoring risks throughout the life of the project. This course is consistent with the risk management processes and techniques in PMI® ’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide).
Meet the Instructor for this PMI-RMP Certification Prep Course
Susan Parente, PMP, PMI-RMP, CISSP, CRISC, RESILIA, PMI-ACP, CSM, CSPO, PSM I, ITIL, MS Eng. Mgmt.
Instructor
Susan Parente is a Principal Consultant at S3 Technologies, LLC an Instructor at University of Virginia, and an Adjunct Professor at Post University in CT and Montclair State University in NJ. She is an author, mentor and teacher focused on project and risk management. Her experience is augmented by her Masters in Engineering Management with a focus in Marketing of Technology from George Washington University, DC, along with a number of professional certifications. Ms. Parente has 20+ years’ experience leading software and business development projects in the private and public sectors, including over a decade of experience implementing IT projects for the DoD and Department of Commerce.
For more information or ask us questions:
PMI-RMP Virtual Class Instructor-led LIVE Online - Base: $1,299
| Extended Support* | Purchased with Base |
|---|---|
| 30 Days | Base - Included |
| 60 Days | +$150 |
| 180 Days | +$400 |
| 365 Days | +$700 |
| Application Review: $150 (1st Review); $125 (Subsequent Review) | |
“Everything about Project Risk Management and PMI-RMP® Certification”
Summary: This webinar is designed for people who are serious about the management of unknowns, especially on complex or high-stake projects. The webinar will highlight:
- The ubiquity of risk in complex projects
- The processes of identifying, evaluating, and planning risk response
- How risk management credentials enhance the credentials of all project professionals, especially those already possessing PMP
- The latest development by the Project Management Institute and the new Global Standard of Risk Management for Projects, Programs, and Portfolios
- And for professionals who are serious about this specialization, we will provide a detailed overview of the Project Management Institute’s Risk Management Professional (PMI-RMP) certification
On April 22, 2020, Dr. Te Wu made a related presentation to PMI-NYC Chapter via WebEx technology. To download the presentation, please click here.
The Project Management Institute is best known for its PMP® credential, but PMI also offers the Risk Management Professional® certification for project risk, governance, and compliance professionals. This PMI-RMP certification recognizes the professional’s unique expertise and competency in assessing and identifying project risks, mitigating threats and capitalizing on opportunities, while still possessing a core knowledge and practical application in all areas of project management.
This course provides participants with a solid foundation to pass the PMI-RMP exam. During class, participants will be introduced to key project risk management concepts and practices with sample exam questions. Participants will also engage in relevant discussions focusing on project risk management topics and best practices to enhance the learning experience and prepare for the exam. To receive the PMI-RMP certification you must pass the PMI-RMP exam that focuses on the following domains:
- Domain 1: Risk Strategy and Planning
- Domain 2: Stakeholder Engagement
- Domain 3: Risk Process Facilitation
- Domain 4: Risk Monitoring and Reporting
- Domain 5: Perform Specialized Risk Analyses
Upon obtaining the PMI-RMP certification you will find yourself highly marketable for positions in Project Management for a variety of organizations, especially Fortune 500 organizations and government entities due to the complexity of the content covered in this level of risk management.
Course Objectives
In this boot camp style course, you will receive a comprehensive introduction to project risk and cover the five primary PMI-RMP exam objectives.
- Risk and Strategy Planning – activities related to developing policies, processes, and procedures for risk assessment, planning, and response
- Stakeholder Engagement – activities related to promoting the understanding of project risk management for stakeholders and project team members, assessing stakeholder risk tolerance, prioritizing project risk, and promoting risk ownership
- Risk Process Facilitation – activities related to facilitating risk identification, evaluation, prioritization, and response among project team members
- Risk Monitoring and Reporting – activities related to monitoring risk, evaluating risk response against established metrics, and communicating risk response performance to stakeholders and project teams
- Perform Specialized Risk Activities – activities related to the specialized quantitative and qualitative tools and techniques used by project risk management professionals
- Tips, tricks and techniques for passing the PMI-RMP exam
Who will benefit from the course?
If you are looking to fill the risk management specialist role on your project team and if you are looking for a course that will add value to your PM skills and showcase your specialized expertise to employers, the PMI-RMP credential is for you.
- CEOs, CFOs, COOs, VPs, AVPs, GMs, DGMs
- Procurement Professionals, Information & Information Security Professionals, Project Management Professionals
- Team Leaders / Members, Field Staff Members, Design Engineers, Manufacturing Engineers, Software Developers
- Quality & Testing Engineers, Sales & Marketing professionals
- Program Managers, Portfolio Managers, Project Engineers
- Venture Capitalists, Bankers, Financial Analysts, Accountants
Prerequisites
- Secondary degree (high school diploma, associate’s degree, or the global equivalent)
- 4,500 hours of project risk management experience
- 40 hours of project risk management education
OR
- Four-year degree (bachelor’s degree or the global equivalent)
- 3,000 hours of project risk management experience
- 30 hours of project risk management education
About Our Course
This course is based on a combination of both worlds: expert and certified instructor from PMO Advisory and extensive materials from our training partner, which is another PMI R.E.P. This way, you benefit from receiving expertise from two PMI Registered Education Providers. This course meets the training requirement of 30 hours, a pre-requisite to qualifying for the certification:
- Our course is 12-14 hours. For the Intelicamp (live virtual class) and pre-recorded, the course is 12 hours. For the the classroom, it is 14 hours.
- From our training partners, we purchase the following:
- Extensive 50+ videos – minimum of 8 hours
- Lessons, quizzes, flashcards, and even the common terms – minimum of 20 hours
- Practice quizzes, about 100 pre assessment and 100 post assessment questions – minimum of 4 hours
PMI-RMP Exam Information
- Duration of Exam : 3.5 Hours
- Number of Questions: 170 (Multiple Choice). Out of 170 questions, 20 questions are unscored pre-test questions.
- Passing score: PMI don’t give percentage instead there is a grade system (Proficient, Moderate Proficient and Below Proficient) only below Proficient is Fail
Exam Description & Objectives
| PMI-RMP Exam Blueprint (From the Examination Content Outline) | |
| Domain | Percentage of Questions |
| Domain 1—Risk Strategy and Planning (5 tasks) | 19-20% |
| Domain 2—Stakeholder Engagement (9 tasks) | 19-20% |
| Domain 3—Risk Process Facilitation (7 tasks) | 25-28% |
| Domain 4—Risk Monitoring and Reporting (7 tasks) | 19-20% |
| Domain 5—Perform Specialized Risk Analyses (3 tasks) | 14-16% |
| Total | 100% |
Do you have any questions on our PMI-RMP Certification Prep Course? Click here and send us your questions.
Our Philosophy and Values
PMO Advisory is a PMI Registered Education Provider (R.E.P. #4172) and proud to be one the very few PMI registered firms able to offer PfMP®, PgMP®, PMP, and PMI-RMP Certification Training. We make tremendous effort to understand our clients, their needs and interest and align our products and services accordingly. Because we are a small firm we’re agile, responsive, and will adapt our training programs as your needs change with a speed larger firms just can’t match. We’re committed to getting individuals, small teams, and organizations professionally trained and transformed in line with set goals. You are guaranteed a positive client service experience which meets (and ideally exceeds) your expectations, this is our goal behind all of our business interactions. Specifically we promise to:
1. Focus on the benefit of the training as it relates to each customer’s individual needs.
2. Be responsible and accountable for each customer’s success.
3. Always act with integrity and dignity when dealing with customers, vendors and employees.
4. Always EXCEED the client’s expectations.
Te Wu, Founder & CEO