PMP 10 - Project Procurement Management

Lesson 1
Define risk and explain how it can impact a project
Identify the components of the risk management plan, risk register, and risk report and their relationship to the project management plan
Describe the techniques involved in risk identification and analysis
Explain how the probability and impact of risk can be assessed and how risk events can be prioritized
Recognize the difference between qualitative risk analysis and quantitative risk analysis and explain when either or both should be used
Recognize the difference between individual project risks and overall project risks and describe how to respond to each
Describe how to make project decisions when outcomes are complex and are affected by uncertainty
Explain how risk planning, risk analysis, risk response planning, and risk monitoring and controlling are related
Employ various strategies to respond to positive and negative risks
Explain the Monitor Risks process and recognize that risks must be monitored throughout the project life cycle