Risk Management Professional (PMI – RMP)

The Risk Management Professional (PMI – RMP) highlights a professional’s ability to identify and analyze project risks, mitigate threats and maximize opportunities. The Risk Management Professional training course assists professionals to acquire knowledge related to the Risk Management lifecycle, including planning, monitoring, and controlling risks.

ELIGIBILITY: This RMP course is for professionals seeking to acquire advanced knowledge and experience in risk management. Anyone interested to enroll in the PMI – RMP course must have the following:

• A secondary degree or Bachelor’s degree (high school diploma, associate’s degree, or the global equivalent)
• 2 – 3 years experience in project risk management within the last 5 years

CAREER OPPORTUNITIES:

Market Trends: In this highly competitive and complex service – based business environment, there has been an increase in the importance of risk management. Globally, the Risk Management market size stood at $7.39 billion in 2019 and is projected to reach $28.87 billion by 2027, growing at a CAGR of 18.7%. The incorporation of AI and IoT into the business landscape has led to an increase in risk management adoption by industries, attributing to its growing job opportunities.

Salary Trends: The Risk Management job market has risen sharply due to its high demand in the industries. As per the PMI Project Management Salary Survey, the UAE offers the highest median annual salary among Middle East countries for Project Managers. On average, salaries in the surveyed countries have risen by nearly 20%. The average salary of a Certified Risk Manager in the UAE is AED 39,100 per month.

Demand and Opportunities: Globalization and a complex regulatory landscape have raised the stakes to unprecedented levels, increasing demand for risk management professionals. Recruiter.com revealed that vacancies for Risk Management Specialists have grown by 29% since 2004, with an average yearly growth of 4.84%. In this highly visible and lucrative era, businesses are realizing the need for Risk Managers who can facilitate thoughtful decisions.

COURSE OUTLINE:

Introduction to Risk Management Concepts

• Objectives of risk management
• Risk management and the project life cycle
• Critical success factors
• When to accept risk, and when to avoid

Principles and Concept of Risk Management

• Definition of risk & risk management
• Stakeholder risk attitudes
• Responsibilities for risk within projects

Introduction to PMI Risk Management Process

• Stakeholder risk tolerance
• Overview of the risk management processes

Plan Risk Management

• Purpose of risk management planning
• Components of the risk management plan
• Success criteria for risk planning
• Barriers to successful risk planning
• Risk Breakdown Structures (RBS)
• Techniques for Risk Planning
• The Risk Management Plan
• Stakeholder Risk Tolerance & Thresholds

Identify Risk

• Purpose, objectives & Critical success factors
• Typifying risks
• Risk identification techniques
• Information Gathering Techniques
• Checklist Analysis
• Analyzing assumptions & constraints
• Diagramming Techniques
• Cause & Effect (Fishbone diagrams) Risk triggers
• The risk register
• Determining which risk tool to use

Perform Qualitative Risk Analysis

• Purpose, objectives & Critical success factors
• Categorizing risks
• Risk probability and impact, Risk score
• P – I Matrix

Perform Quantitative Risk Analysis

• Purpose, objectives & Critical success factors
• Accounting for risk inter – relations in projects
• Data Gathering & Representation techniques
• Modeling & Simulation, the Probability distribution
• Monte Carlo Simulations, S – curves
• Tornado diagrams, sensitivity analysis, criticality analysis
• Decision trees
• Risk Expected Monetary Value (EMV) calculation

Plan Risk Responses

• Risk owners, risk action owners
• Strategies for positive and negative risks Risk & contracting
• The risk response action plan
• Contingency planning, calculating the contingency fund
• Secondary & residual risks

Monitor and Control Risk

• Risk reassessment Process improvement
• Managing contingency reserves
• Risk audits, trend analysis

KEY TAKEAWAY:

After completing the Risk Management Professional (PMI – RMP) certification training course, candidates will be able to:

• Understand project risk management through the PMBOK Guide and Practice Standard
• Assess risk qualitatively and quantitatively
• Create and implement strategies to mitigate risks
• Analyze the impact of environmental factors and organizational responsibilities on risk management and project management
• Implement all processes efficiently and focus on a detailed review of all 7 risk management processes
• Manage projects and risks using all available tools and techniques
• Analyze risk events and their potential effects, identify threats and opportunities, and ensure proper project planning

ACCREDITATION:

Our Risk Management Professional (PMI – RMP) course is accredited by ISO 9001: 2015 and the Knowledge and Human Development Authority (KHDA).

ALUMNI: Our academy graduates are successfully placed in some of the top – notch companies in Dubai like Jumeirah, Aramex, Airarabia, Damac, Emaar, etc. They are entrepreneurs, career changers, and lifelong learners.

WHY LEARNER’S POINT:

As one of the leading providers of the Risk Management Professional (PMI – RMP) training program, we have ample experience in imparting knowledge to the participants on the various concepts.

Our Risk Management Professional (PMI – RMP) course offers the following key benefits:

• Our Risk Management Professional (PMI – RMP) course is designed based on real – world scenarios, formulating and evaluating practical requirements
• Our courses strive to provide a reality check and insight into the requirements of a challenging role and how to fulfill it
• We also provide live interactive sessions and hands – on experience through assignments associated with the actual work environment
• To enhance the learning experience of our students we provide organized group sessions and integrated training modules
• Our discrete approach to career guidance enables our students to get successfully placed in renowned organizations