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Practice Standard for Project Risk Management
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The Practice Standard for Project Risk Management covers risk management as it is applied to single projects only. It does not cover risk in programs or portfolios. This practice standard is consistent with the PMBOK Guide and is aligned with other PMI practice standards. Different projects, organizations and situations require a variety of approaches to risk management and there are several specific ways to conduct risk management that are in agreement with principles of Project Risk Management as presented in this practice standard.
Book Actions
Start ReadingBook Information
Practice Standard for Project Risk Management
Description
The Practice Standard for Project Risk Management covers risk management as it is applied to single projects only. It does not cover risk in programs or portfolios. This practice standard is consistent with the PMBOK Guide and is aligned with other PMI practice standards. Different projects, organizations and situations require a variety of approaches to risk management and there are several specific ways to conduct risk management that are in agreement with principles of Project Risk Management as presented in this practice standard.
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Rating: 1The Practice Standard for Project Risk Management is a must-read for any PMI-RMP exam taker. Although it does not cover all exam areas, since the exam goes beyond the book?s material, it addresses important topics in RM such as objectives and critical success factors for each RM process, glossary, and, most importantly, a detailed list of tools and techniques that can be used in each process.Being a standard, it is not a practical guide to implement RM; however, it represents a framework of applying it. I used this book to prepare for the PMI-RMP exam. And I believe it filled many gaps in my understanding of the RM processes and tools/techniques used. It explains each possible tool that can be used in any process with illustrations, examples, weaknesses, and strengths which made it one of the main references for preparation.One of the drawbacks of this practice standard is that it does not address, at least explicitly, the domain of Risk Governance which is one of the four domains tested in the exam. This shortcoming made me use other references such as uCertify to complete my preparation.I recommend this book to any exam taker especially that it is issued by PMI which makes it 100% credible in every word and concept addressed.
Rating: 4