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Assessing and Analyzing Project Risk
Assess risk probability with helpful tools and examples.Preview the first lesson free — get full access to all 7 lessons.
Intermediate Provider : Nick Ankrom 7 Lessons · 19m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
These lessons will help you assess and understand what risk probability is and why risk evaluation and analysis play a vital role in project management. You’ll learn what risk impact entails, and what role the risk owner plays. These lessons will prepare you for real-world scenarios of risks and provide details on how to prepare for them. These lessons also discuss qualitative and quantitative risks, and cover definitions akin to project sizes. You’ll learn how to further analyze risks with tools and techniques, and when to best use them.
What You'll Learn
- Define probability distribution and understand what risk probability means in project management
- Identify individual project risks and prepare for real-world risk scenarios
- Distinguish between qualitative and quantitative risk analysis
- Explain the role of the risk owner and what risk impact entails
- Apply analytical techniques and tools to analyze project risks and know when to use them
Key Takeaways
- Risk evaluation and analysis play a vital role in project management.
- Understanding risk probability and risk impact is essential to assessing project risk.
- Project risk can be analyzed using both qualitative and quantitative approaches.
- The risk owner has a defined role in managing project risk.
- Analytical techniques and tools help analyze risks, and knowing when to use each is part of the course.
Frequently Asked Questions
What does this course cover?
The course covers risk probability, assessing and analyzing project risk, qualitative and quantitative risk analysis, and analytical techniques and tools, including when best to use them. It also discusses risk impact, the role of the risk owner, and definitions related to project sizes.
What will I be able to do after taking this course?
You will be able to define probability distribution, understand risk owners, identify individual risks, and understand qualitative and quantitative risks, as stated in the learning objectives.
Does the course prepare learners for real situations?
Yes. The lessons are designed to prepare you for real-world scenarios of risks and provide details on how to prepare for them.
What lessons are included?
Lessons include Project Risk Probability, Assessing Project Risk, Analyzing Project Risk, Qualitative Risk Analysis, Quantitative Risk Analysis, Analytical Techniques and Tools, and Test Your Knowledge.
Professional Certifications and Continuing Education Units (CEUs)
Project Management Institute (PMI®)
Professional Development Units (PDUs): 0.5
KnowledgeCity has been reviewed and approved by the PMI® Authorized Training Partner Program. Users can maintain your PMI credentials by earning PDUs from KnowledgeCity qualified courses in Project Management, Business Management, Leadership and many others.
