New Training: Project Risk Management

In this 9-video skill, CBT Nuggets trainer Simona Millham takes us through the 7 processes in the PMI knowledge area of risk management. Watch this new Project Management training.

Watch the full course: Certified Associate in Project Management (CAPM)

This training includes:

• 9 videos
• 49 minutes of training

You’ll learn these topics in this skill:

• Introducing Risk Management
• Plan Risk Management
• Identify Risks
• Perform Qualitative Risk Analysis
• Perform Quantitative Risk Analysis
• Risk Response Strategies
• Plan Risk Responses
• Implement Risk Responses
• Monitor Risks

What is Project Risk Management?

Project risk management relates to identifying and analyzing the risks that occur during the completion of a project and properly responding to them. It is something that you need to do not just during the execution of a project but also during its planning.

Project risk management consists of the following seven processes:

1. During the planning of a project, you need to come up with an approach for managing risks.
2. Next, you need to decide how you will identify risks.
3. Once the project commences, you have to look for warning signs of increased risk.
4. During the course of the project, you should periodically review the project's exposure to risk.
5. You should also continually assess the likelihood of risks throughout the project's lifecycle.
6. When risks do arise, you need to identify the causes of them.
7. Finally, you should look for ways of turning risks into opportunities.