Project Risk Management | PMP Training Online Videos

Simplilearn Solutions (Global REP ID 3147) provides project management training through a blended learning model of classroom training and online learning www.simplilearn.com I. Topic 11: Project Risk Management A. Slide 1: Introduction Hello and Welcome to lesson No 11 of PMP Certification Course by SimpliLearn! This lesson is about Project Risk Management. Risk Management is actually a key responsibility of the project manager. Risk management is one of the project management disciplines which have a direct impact on the project success or failure. B. Slide 2: Agenda This section covers what is Risk, how is risk calculated and the different ways in which risk can be categorized. Next, we will learn about decision tree. This is a very interesting concept…that helps in analyzing risk and its impact on taking decision. Finally, we will learn about the six project management process, which are part of Risk Management knowledge area. C. Slide 3: What is Risk? Risk can be best defined as an uncertainty that can positively or negatively impact a project. There are some other risk related terms that you should be aware of. For example, Risk Averse, Risk Tolerance, Risk Threshold. D. Slide 4: How is Risk Calculated? Risk is measured by assigning a monetary value to it and that value is arrived at by multiplying the probability and impact of the risk. E. Slide 5: Risk Categorization Risk can be categorized in various ways. One such categorization is External, Internal
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