TABLE OF CONTENTS Project risk management is considered by some to be the most difficult section of the PMP certification exam. Exam takers consider it demanding because it addresses many concepts that project managers have not been exposed to in their work or education. Questions, however, do correspond closely to PMBOK Guide material so you should not have much difficulty if you study the terminology found in this guide.
| Exam Tip | PMI places heavy emphasis on the concept that project risk can be decreased significantly by actively identifying, planning and mitigating potential risk events and managing their impact on the project. |
The mathematical questions are not very difficult; however, they do require you to know certain theories, such as expected monetary value and decision tree analysis. You should also expect questions related to levels of risk faced by both buyer and seller based on various types of contracts.
The 6 processes of risk management:
Risk Management Planning
Risk Identification
Qualitative Risk Analysis
Quantitative Risk Analysis
Risk Response Planning
Risk Monitoring and Control
Utility Theory
Risk Categories
Brainstorming
The Delphi Technique
Interviewing
SWOT Analysis
How to create a Risk Register
Probability and Risk Impact
Sensitivity Analysis
Probabilistic Analysis
Decision Tree Analysis
Expected Monetary Value
Monte Carlo Simulation
Probability Theory
Tools and Techniques of Risk Response Planning
Insurable Risks
Probability and Impact Curve
Business Risks: common risks found in doing business have opportunities for gain or loss.
Decision Theory: a technique for assisting in reaching decisions...
