INTRODUCTION Hi and welcome back again to a new process that perform quantitative risk analysis. It’s the fourth process in the risk management knowledge area. Now, we were done with the risk management planning as the first process and we developed the risk management plan. Then we identified all the project risks, then we performed the qualitative analysis. It was the first filter or it was the first analysis process. Now it’s designed to quantitatively analyze our project risks listed in the rest register. So it’s the process of numerically…

INTRODUCTION Hi and welcome back again to the last risk management process monitor risks. It’s the only risk management process that is a part of the monitoring and controlling process group. So we were done with five planning processes, one executing process and the final one is the monitoring and controlling process monitor risks. It’s the process monitoring the implementation of the agreed upon risk response plan, tracking identified risks, defining and analyzing new risks and evaluating the risk process effectiveness throughout the project. So this is exactly what we…

CONTRACTS MANAGEMENT Hi and welcome to the last lecture of this section. We are going to discuss the contract management, the math formulas related to managing the project contracts. Now, all the contracting falls into the procurement management processes which follow a really sensible order regardless the type of the project you are managing. First of all, you need to plan what you need to contract or what you need to outsource from external resources for your project. Then you plan how you will do it. Next, you send out…

COMMUNICATION CHANNELS Hi and welcome back again to a new simple concept for the exam. Not counting the communication and channels of the communication lines on your project. So how many people need to talk to one another? A good project manager needs to get a handle on all this communication because it’s easy to lose a track effect. That’s why you need to know how to calculate the channel’s communication on each project. Now for small projects with very few number of stakeholders to be very easy to determine…

EARNED VALUE ANALYSIS Hi, welcome back again to one of the most important techniques in project management, the earned value measurement, where the majority of the exam math questions come from the earned value techniques. So the Earned value analysis is an analysis technique that compares the actual schedule and cost to the performance measurement baseline. The performance measurement baseline which is part of the project management plan, and it integrates the scope, cost and schedule baselines. So the core value of the value analysis is to keep tracking and…

SCHEDULE NETWORK ANALYSIS AND CRITICAL PATH METHOD Hi and welcome back again to a new lecture where we are going to discuss one of the most important topics in the project management in general the critical path method. In this lecture we will highlight the critical path technique, how to define the critical path on your project network diagram, how to find the early and late figures of the project activities in order to find out the flow associated with each project activity. Now, developed schedule process is about analyzing…

INTRODUCTION Hi and welcome back. This is a new section, a new important section, the Math Highlights or the Math Formula Guide for the exam. Now, one of the parts that some exam aspires consider difficult is the math calculations because there are many formulas they need to memorize. Actually, this is the reason, or this is the purpose for which I made the section. And I want to show you how much it’s easy to memorize the math formulas for the exam. In this section, I’m going to highlight…

INTRODUCTION Hi and welcome back again to a new process. Actually it’s the simplest process with the minimum information among the seven risk management processes. It was recently added on the project management body of knowledge latest Edition edition number six. Now we are done or we were done with the five processes as a part of the planning process group. This is the only process that falls into the executing process group and the risk management knowledge area. Implement risk responses. It’s the process of implementing agreed upon risk…

INTRODUCTION Hi and welcome back again to the last section of this course the PMI Rmp Exam Success Recipe. So what’s next? Now we are done with the theory contact hours required risk Management Education in order to qualify for the PMI Rmp exam. As I mentioned in the introduction section of this course, the PMI RMB exam has 170 questions which are distributed according to the table given below. We have five domains. The first domain is the Risk Strategy and Planning with 20% of the exam questions. Overall,…

Mock Exam Introduction This is our last section in this course, which is the Bgmb certification mock exam. In this section we will cover the following a suggested study plan that helps you in holding the program management knowledge and be ready for the BGMP exam. Mock Exam Preparations where we will prepare to execute the mock exam. Bgmb Mock Exam of 170 question which is a simulation for the mock exam. You will need to book 4 hours for this mock exam. Then after you finish the mock exam,…