Risk Analysis
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Risk Analysis
This course is part of Risk Management Professional Certification Prep Specialization
Instructor: LearnKartS
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What you'll learn
Identify and prioritize risks using qualitative tools like FMEA, Fault Tree Analysis, Affinity Diagrams, and AHP for making better early decisions
Use quantitative metrics - SV, SPI, CV, CPI, and EAC to monitor the health of your Schedule and Budgets with objective control based on data
Forecast uncertainty using Monte Carlo simulation, tornado charts, decision trees, and network sensitivity to plan realistic risk responses
Assess risk complexity, compare response options, and develop effective mitigation strategies that protect outcomes in dynamic project environments
Skills you'll gain
- Risk Modeling
- Agile Project Management
- Performance Metric
- Hazard Analysis
- Agile Methodology
- Simulation and Simulation Software
- Risk Analysis
- Earned Value Management
- Project Risk Management
- Project Management Institute (PMI) Methodology
- Stakeholder Engagement
- Dependency Analysis
- Project Performance
- Project Controls
- Risk Control
- Risk Mitigation
- Risk Appetite
- Business Metrics
- Stakeholder Management
- Risk Management
Details to know
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- Earn a shareable career certificate
There are 2 modules in this course
In today’s fast-paced projects, risks can appear at any moment and knowing how to manage them is what sets great professionals apart. Risk Analysis teaches you to identify, assess, and mitigate risks before they become problems. Begin by using qualitative methods such as FMEA, Fault Tree Analysis, Affinity Diagrams, and the Analytic Hierarchy Process (AHP) for identifying potential issues, charting their causes, and prioritizing them appropriately.
Then move to quantitative methods, using metrics such as SV, SPI, CV, CPI, and EAC to monitor schedules and budgets. Explore Agile metrics like burndown charts and story point completion, while applying Monte Carlo simulations, tornado diagrams, network sensitivity analysis, Ishikawa diagrams, and decision trees to forecast impacts and plan solutions. Tailored for project managers, business analysts, and future risk practitioners, this course prepares you to identify the complexity of risk, analyze risk net value, and improve decision-making on projects in any context.
This module covers a comprehensive range of techniques essential for effective risk analysis, beginning with the risk analysis process, qualitative risk analysis techniques, and advanced methodologies such as FMEA, the Analytic Hierarchy Process (AHP), Affinity diagrams, Influence diagrams, System Dynamics, and Risk Ranking.
What's included
15 videos6 assignments
15 videos•Total 39 minutes
- Learning Objectives•0 minutes
- Risk Analysis•1 minute
- Risk Analysis Process•2 minutes
- Introduction to Risk Analysis•2 minutes
- Qualitative Analysis•4 minutes
- Qualitative Risk Analysis Techniques•3 minutes
- FMEA (Failure Mode Effects Analysis)/FAULT TREE ANALYSIS•7 minutes
- Affinity Diagram•1 minute
- Analytic Hierarchy Process (AHP)•5 minutes
- Influence Diagram•3 minutes
- System Dynamics•1 minute
- Risk Ranking•7 minutes
- Risk Data Quality•1 minute
- Assessment of Other Risk Parameters•1 minute
- Educate Stakeholders on Risk Categories•2 minutes
6 assignments•Total 120 minutes
- Risk Analysis Process•30 minutes
- Qualitative Risk Analysis and Techniques•30 minutes
- Risk Analysis Process•15 minutes
- Qualitative Risk Analysis and Techniques-1•15 minutes
- Qualitative Risk Analysis and Techniques-2•15 minutes
- Qualitative Risk Analysis and Techniques-3•15 minutes
This module starts with an in-depth exploration of quantitative risk analysis and the application of Waterfall model metrics. Learners gain expertise in metrics such as budget at completion, earned value, and cost variance. The module introduces advanced quantitative techniques, including Monte Carlo simulations, PERT analysis, and sensitivity analyses using Tornado diagrams.
What's included
27 videos1 reading9 assignments
27 videos•Total 100 minutes
- Learning Objectives•1 minute
- Quantitative Risk Analysis•4 minutes
- Waterfall Model Metrics•2 minutes
- Budget at Completion and Planned Value•4 minutes
- Earned Value and Actual Cost•5 minutes
- Schedule Variance (SV) and Schedule Performance Indices (SPI)•3 minutes
- Cost Variance (CV) and Cost Performance Indices (CPI)•3 minutes
- Estimates at Completion (EAC)•3 minutes
- To-Complete Performance Index (TCPI)•4 minutes
- Agile Model Metrics•2 minutes
- User Stories Completion•1 minute
- Burndown and Burnup Chart•2 minutes
- Story Point Completion•1 minute
- Velocity•2 minutes
- Quantitative Risks Analysis Techniques•2 minutes
- Monte Carlo Simulation Technique•4 minutes
- PERT (Project Evaluation Review Technique)•5 minutes
- Detailed Risks Analysis•4 minutes
- Monte Carlo Sensitivity Analysis and Tornado Diagrams•6 minutes
- Network Diagram Sensitivity Analysis (Critical Path)•3 minutes
- Ishikawa Diagram Analysis and Decision Tree Analysis•5 minutes
- Contingency Reserve Estimation•3 minutes
- Risk Priority•2 minutes
- Risk Complexity•2 minutes
- Perform Impact Analysis•5 minutes
- Assess project compliance objectives and Empower Stakeholders•4 minutes
- Summary•19 minutes
1 reading•Total 15 minutes
- Case Study: Analyzing Risks in a High-Stakes Software Project•15 minutes
9 assignments•Total 180 minutes
- Waterfall Model Metrics•30 minutes
- Agile Model Metrics•30 minutes
- Quantitative Risks Analysis Techniques•30 minutes
- Waterfall Model Metrics-1•15 minutes
- Waterfall Model Metrics-2•15 minutes
- Agile Model Metrics•15 minutes
- Quantitative Risks Analysis Techniques-1•15 minutes
- Quantitative Risks Analysis Techniques-2•15 minutes
- Quantitative Risks Analysis Techniques-3•15 minutes
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Frequently asked questions
This course is the fourth course in the PMI-RMP® specialization course. Hence, this course requires you to have basic understanding of concepts covered in the first 3 courses - Project Management and Risk Fundamentals, Risk Strategy and Planning, and Risk Identification.
Yes, you will receive the course certificate upon completing the videos and quizzes provided in the course.
While completing this course and other courses in the PMI-RMP® specialization provides valuable knowledge and skills aligned with the PMI-RMP® exam content, certification is awarded by the Project Management Institute (PMI®) upon successful completion of the RMP® exam and meeting other eligibility criteria set by PMI®.
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Financial aid available,