http://pmsymposium.umd.edu/pm2018/ Susan Parente PMP, PMI-RMP, PMI-ACP, CSM, CSPO, PSM I, CISSP, CRISC, RESILIA, ITIL, MS Eng. Mgmt. Associate Professor, Post University, CT, MBA Program: PM Concentration Adjunct Professor, Montclair State University, NJ, MBA Program: Risk Management 2018 Project Management Symposium RISK MANAGEMENT… MADE EASY
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Susan ParentePMP, PMI-RMP, PMI-ACP, CSM, CSPO, PSM I, CISSP, CRISC, RESILIA, ITIL, MS Eng. Mgmt.Associate Professor, Post University, CT, MBA Program: PM ConcentrationAdjunct Professor, Montclair State University, NJ, MBA Program: Risk Management
2018 Project Management Symposium
RISK MANAGEMENT…MADE EASY
Agendau Definition of Risk Management
u Risk Management Overview
u Risk Management Processu Identification, Assessment, Response Planning,
communication by offering processes, mechanisms, and a
common language for stakeholders to identify, define,
evaluate and control risks.
Image from: Pixabay (2016) Retrieved from https://pixabay.com/en/rock-climbers-teamwork-summit-peak-1720497/
Risk Management Processes
u Identificationu Discovery of a potential risk
u Assessmentu Review, analysis, and
prioritizationu Response Planning
u To mitigate, avoid, transfer, accept, escalate threats
u To enhance, exploit, share, accept or escalate opportunities
u Executionu Of response strategies, as
determined in response planning
Assess
Plan ResponseExecute
Identify
8
► Planning, Monitoring, Documentation and Communication§ Foundational for project mgmt. & essential to all processes§ Part of continuous process improvement for the RMP
u Risk Statements are written in a structured manneru State the risk in the format of a “If…, then…”
Statements
uCondition (‘If’) statement - A short, succinct statement that describes the background information and/or description of the problem
uConsequence (‘Then’) statement - A short, succinct statement that describes the key possible outcome(s) of the current conditions
u Consequences should be directly traceable to the event: For example, “If I have a flat tire while commuting to work, then I may not get to work on time”
Summaryü Risk Management is an organized, systematic
decision-making process that efficiently plans, assesses, handles, monitors, and documents risk to increase the likelihood of achieving project goals and decrease the likelihood that a risk would become a future problem
ü Risk Management adds structure and rigor to a fundamental process
ü Risk Management is everyone’s job!That means you!
PMI-RMP® CertificationPMI Risk Management Professional (PMI-RMP)®
u “PMI’s Risk Management Professional (PMI-RMP)® credential is a response to project management’s increasing growth, complexity and diversity. Globally recognized and demanded, the PMI-RMP® fills the need for a specialist role in project risk management.”
u “It recognizes your unique expertise and competency in assessing and identifying project risks, mitigating threats and capitalizing on opportunities, while still possessing a baseline knowledge and practical application in all areas of project management.”
Reference: PMI, “PMI Risk Management Professional (PMI-RMP)” Retrieved from: http://www.pmi.org/en/Certification/PMI-Risk-Management-Professional-PMI-RMP.aspx
PMI-RMP® CertificationWho should apply:u Risk management specialists and Project Risk Managersu To increase your skills in project managementu To highlight your specialized expertise to employers
PMI-RMP Requirements:u A 4 year degree (bachelor’s or the global equivalent),
with at least 3,000 hours of project RM experience and 30 hours of project RM education.
ORu A secondary diploma (high school or the global
equivalent) with at least 4,500 hours of project RM experience and 40 hours of project RM education.
Reference: PMI, “PMI Risk Management Professional (PMI-RMP)” Retrieved from: http://www.pmi.org/en/Certification/PMI-Risk-Management-Professional-PMI-RMP.aspx