Risk Management Professional (PMI-RMP®)
Strategic Approaches to Managing Portfolio, Program, and Project Risks
Course Overview
Effective risk management is a cornerstone of successful project delivery. Risks, if not proactively identified and managed, can lead to delays, cost overruns, or compromised project outcomes. At the program and portfolio levels, unmanaged risks may disrupt resource coordination and strategic alignment, jeopardizing the overall benefits expected from a group of projects.
This HighPoint Center (HPC) training course provides a comprehensive approach to risk management across projects, programs, and portfolios, equipping participants with the concepts, tools, and methodologies to manage risk from strategy formulation to risk closure. Participants will gain practical skills to anticipate, analyze, respond to, and monitor risks while aligning with organizational objectives. Key highlights include:
- Developing risk strategy and planning for projects and portfolios
- Risk identification and analysis using qualitative and quantitative techniques
- Planning and implementing risk responses for threats and opportunities
- Monitoring and closing risks effectively
- Integrating project risk management with Enterprise Risk Management (ERM)
Course Objectives
By the end of this course, participants will be able to:
- Understand the fundamentals and core concepts of risk management
- Describe the relationships between risk management at project, program, portfolio, and enterprise levels
- Apply the risk management life cycle and related processes effectively
- Utilize risk management techniques, tools, and best practices during project execution
- Prepare for the PMI-Risk Management Professional (PMI-RMP) certification
Course Audience
This course is designed for professionals across industries who are responsible for or involved in risk management at different organizational levels. Participants include:
- Senior Managers and Portfolio Governance Board Members
- Program Managers and their Teams
- Project Managers and their Teams
- PMO Directors and Staff
- Functional Managers in Engineering, Finance, and Procurement
- Contract Specialists, Planners, and Cost Estimators
Course Methodology
The course adopts a practical, hands-on approach, combining theoretical knowledge with real-world applications. Learning methods include:
- Interactive classroom sessions with facilitator-led discussions
- Practical case studies and scenario analysis (local and international)
- Workshops and exercises for risk identification, analysis, and response planning
- Active application of tools such as Monte Carlo simulation, risk registers, and Earned Value Management (EVM)
- Guidance on preparation for the PMI-RMP certification exam
This methodology ensures participants acquire both conceptual understanding and practical competence in risk management.
Course Outline
Day One: Foundations and Risk Management Strategy
- Course objectives and introduction
- Key definitions: uncertainty, risk, risk attitude, appetite, and threshold
- Risk management at organizational, portfolio, program, and project levels
- Assessing business environment impacts on risk
- Developing a risk management strategy and documenting the risk management plan
- Workshop: Sample risk management plan
- Guidance on PMI-RMP exam preparation
Day Two: Risk Identification with Stakeholders
- Engaging stakeholders in risk management
- Determining stakeholder risk attitudes, appetite, and thresholds
- Identifying risks using workshops, Delphi, and other methods
- Reviewing documents, assumptions, and constraints
- Developing the risk register and assigning responsibilities
- Workshop: Creating a risk register for a case study project
Day Three: Estimating Risk Impact on Schedule and Cost
- Creating the Work Breakdown Structure (WBS)
- Defining activities and logical sequencing
- Developing project schedules and performing Critical Path Method (CPM) analysis
- Estimating costs and establishing an integrated performance measurement baseline
- Overview of Earned Value Management (EVM)
- Workshop: CPM and EVM application
Day Four: Risk Analysis and Response Planning
- Risk classification and prioritization using probability-impact matrices
- Quantitative risk analysis, including Monte Carlo simulation
- Assessing overall threats and opportunities and their impact on project objectives
- Selecting appropriate risk responses for threats and opportunities
- Workshop: Updating risk register and simulation exercises
Day Five: Risk Monitoring and Closure
- Implementing Risk Action Plans (RAPs)
- Monitoring risk response execution
- Managing residual and secondary risks
- Conducting risk audits and reporting overall project risk levels
- Course review, Q&A, and final discussion
Certificates