As a Risk Management Professional(the PMI-RMP), you must be proficient in managing risks at the program level.
How Program Risks Differ
Unlike project risks, program risks stem from:
✅ Interdependencies between program components
✅ Technical complexity
✅ Schedule and budget constraints
✅ External environmental factors
These risks go beyond simply adding up the risks from individual projects within the program.
Key Aspects of Program Risk Management
🔹 Managing risk communication
- Program risk management determines how risks are escalated to governance bodies and strategic leadership.
🔹 Different perspective on risk
- Unlike portfolio risk management, which weighs long-term value and benefits, program risk management is more focused on the immediate impact of risks on program objectives.
How to Learn Program Risk Management:
📌 Step 1: Read Key Standards
1️⃣ Chapter 6: Risk Management in the Context of Program Management
📖 Risk Management in Portfolios, Programs, and Projects: A Practice Guide
2️⃣ Key Sections in The Standard for Program Management (5th Edition):
- 📖 2.7 Risk
- 📖 3.3.5 Program Risk Management Strategy
- 📖 4.3.11 Program Risk Management
- 📖 4.4.6 Program Risk Management Transition
- 📖 X1.9 Program Initial Risk Assessment
- 📖 X1.20 Program Risk Management Planning
📌 Step 2: Watch Educational Videos
📌 Step 3: Test Your Knowledge
- Complete the self-assessment to reinforce your learning and identify any knowledge gaps.
🔥 Mastering Program Risk Management will enhance your ability to handle risks across multiple projects and ensure program success! 🚀