Toolkit Learning: Mastering Risk Management Tools & Techniques 🎯

To pass the PMI-RMP exam successfully and apply risk management in practice, you need to become familiar with the most widely used tools and techniques.

How to Learn Effectively:

🔹 Step 1: Study the Reference Materials

• Read the materials listed in the Reference List below.
• If any link is broken, visit the PMI website for the latest resources.

🔹 Step 2: Watch the Tools Video Guide

• The table below contains the most commonly used tools and techniques in risk management.
• ⚠ Important! The list does not cover every tool mentioned in the Exam Outline.
• Cross-check your knowledge with the PMI-RMP Exam Outline to ensure full coverage.

Reference List:

📌 1. RMP-Exam-Outline

• Domains, Tasks, and Enablers (including sub-enablers)

📌 2. Risk Management in Portfolios, Programs, and Projects: A Practice Guide

• Appendix X2: Techniques for the Risk Management Framework

📌 3. PMBOK Guide – Seventh Edition

• Table 4-2: Mapping of Methods Used in Each Performance Domain (focus on the “Uncertainty” column)
• Section 4.4: Commonly Used Methods (detailed descriptions of each method)

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Video Guide:

Domains	Basic Techniques
1. Risk Strategy and Planning	1) Continuous process improvement as applied to risk management 2) Stakeholder Analysis
2. Risk Identification	1) Brainstorming 2) Cause and Effect Diagrams 3) Delphi Technique 4) Root Cause Analysis 5) SWOT Analysis 6) Risk Identification Techniques 7) Mind Map 8) Taxonomy-based Risk Identification
3. Risk Analysis	1) Affinity Diagram 2) Nominal Group Technique 3) Probability and Impact Matrix 4) Decision Trees 5) Monte Carlo Analysis 6) Pareto Analysis 7) Failure Analysis Techniques (FMEA, FMECA, FMEDA) 8) Integrated Cost and Schedule Risk Analysis 9) Bow Tie Analysis
4. Risk Response	1) Management Reserves versus Contingency Reserves 2) Force Field Analysis 3) Scenario Planning 4) Group decision making
5. Monitor and Close Risks	1) Reserve Analysis 2) Risk Breakdown Structure (RBS) 3) Standard Costs and Variance Analysis 4) Earned Value Analysis 5) Risk Reporting (Risk Register, RAG Reports, Risk Metrics)

🔥 By mastering these tools, you’ll strengthen your risk management expertise and be fully prepared for the PMI-RMP exam! 💪