Risk Management Archives - Page 2 of 3 - Project Management Academy

Managing projects means learning how to handle positive and negative risks efficiently. As a project manager, you need to understand how to monitor project risks to avoid and mitigate threats while taking advantage of opportunities. Monitoring risks is crucial for effective project management. Learn more about the Monitor Risk PMP process and learn from Project […]

Risk Management

Qualitative Risk Analysis and the PMP® Exam

Erin Aldridge, PMP, PMI-ACP, & CSPO

Setting priorities and determining action plans related to risks is crucial to your success as a project manager and the overall health of your projects. Performing qualitative risk analysis is one PMP exam process that can help you evaluate risks and assess where your time and effort are most needed. Here at Project Management Academy,

Risk Management

Introduction to Quantitative Risk Analysis for the PMP Exam

Erin Aldridge, PMP, PMI-ACP, & CSPO

Understanding how to gather, interpret, and act upon risk-related information is crucial for any project manager. Therefore, it’s crucial to learn how to perform quantitative risk analysis before taking the PMP Exam. This Project Management Academy resource will review what it is, why it matters, and how to perform quantitative risk analysis. Prepare for the

Risk Management

PMI-RMP® Exam Changes for 2022

Erin Aldridge, PMP, PMI-ACP, & CSPO

The Project Management Institute (PMI) has announced upcoming changes to the PMI Risk Management Professional (PMI-RMP)® certification exam. The updated exam is expected to be released on April 1, 2022. Review this Project Management Academy guide to the PMI-RMP® exam changes to learn how best to prepare for the new PMI-RMP® exam. On this page:

Risk Management

Risk Identification in Project Management

Erin Aldridge, PMP, PMI-ACP, & CSPO

Project Management Institute defines risk as “an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.” Potential risks include external, internal, technical, or unforeseeable threats and opportunities to your project and deliverables. Learn more about how to identify risk in project management and what you should

Risk Management

Risk Types in Project Management

Megan Bell

What do all projects of all sizes across all industries have in common? The answer is risk. It is just one reason Project Management Institute’s (PMI) standards and certifications for the Project Management Professional (PMP)® certification include risk management. The universal fact of risk is every project will have a unique blend of risk types

Risk Management

Plan Risk Responses for PMP®

Erin Aldridge, PMP, PMI-ACP, & CSPO

There are many Project Management Professionals (PMP)® who use plan risk responses in the plan of their projects. Just as you learned from the Project Management Institute (PMI) standards, you use Risk Management processes and tools to increase the probability of a successful project outcome. Once identified risks have been captured in the Risk Register,

Risk Management

Risk Audit vs Risk Review

Brent Nair

Quick question: Your risk register shows everything’s green, but something feels off about your risk management approach. Do you need: If you picked C, you’re in good company. Most project managers know these tools matter, they just don’t know why they’re different or when each one saves the day. If you’re a student studying for

Risk Management

What is a Risk Register: What It Includes, Who Creates It, and How to Build One

Erin Aldridge, PMP, PMI-ACP, & CSPO

Failure. That’s what awaits every project manager who treats risk like an afterthought instead of a strategy. Skip risk management, and your project crashes. It’s that simple. The Risk Register is the one tool that prevents this, and every smart project manager uses it daily. It should go without saying that risk is inevitable on

PMP Exam Prep, Project Management, Risk Management

Introduction to Risk Breakdown Structure PMP

Erin Aldridge, PMP, PMI-ACP, & CSPO

Since every project comes with risks, every project manager should be well versed in the risk management process. Risk management involves identifying, assessing, and managing risks using established industry guidelines and best practice standards. Identifying risks can help project managers produce a list of all known potential risks. However, this list doesn’t help you decide