PRMS - Project Risk Management Specialist Training

PRMS - Training Content

Session 1 — What a Risk Really Is (and isn’t)

Objectives

• Differentiate risk, issue, and uncertainty (with examples)
• Write quantifiable risk statements (Cause–Risk–Effect)
• Classify risks: event vs. variability; threat vs. opportunity

You’ll learn

• Good vs. bad risk wording
• Basic distributions (Bernoulli, Triangular, Normal) in plain English
• Calibrating expert judgment (quick elicitation exercises)

Hands-on Experience

• Convert 10 vague risks into quantifiable statements
• Build a Risk ID → Risk Statement map for the case study

Assets

• “Risk Statement Checklist” (Included in the Book)

Session 2 — Plan for Risk Management (that actually gets used)

Objectives

• Build a practical Risk Management Plan.
• Build a practical Risk Management Plan.
• Set data strategy (what, who, when, where)

You’ll learn

• Risk appetite → confidence levels → decisions
• Thresholds for escalation & reporting
• Data sources (internal logs, benchmarks, vendors)

Hands-on Experience

• Draft your RMP skeleton for the case study (1 page)
• Define confidence targets (e.g., P80 dates/costs)

Assets

• Risk Management Plan template (Word)
• Thresholds & governance matrix (Excel)

Session 3 — Facilitate Effective Workshops (from chaos to converged list)

Objectives

• Prep, run, and close a risk workshop.
• How to be always ready for any risk workshop.
• Converge on a prioritized register.

You’ll learn

• Agenda design, pre-work packs, invite list
• How to prepare custom questionnaire for your Workshop.
• Advanced techniques to manage any workshop.

Hands-on Experience

• Simulated workshop: you practice prompts & convergence
• Produce a prioritized draft register (10–15 items)

Assets

• List of Project Risk Workshop Questionnaire 
• Workshop Agenda & Facilitation Script

Session 4 — Find & Use Data (Minimum Viable Dataset)

Objectives

• Identify and collect just enough data for analysis
• Calibrate ranges and assumptions
• Set up the Quantified Risk Register (QRR) starter
  

You’ll learn

• Internal vs. external sources (history, vendors, benchmarks)
• Quick calibration methods (90% CI, paired ranges)
• Input validation and versioning

Hands-on Experience

• Build the QRR starter in Excel (inputs, ranges, links)
• Document assumptions and confidence notes

Assets

• Quantified Risk Register (Excel)
• Assumptions log & data catalogue starter

Session 5 — Integrate Risk into Decisions (numbers, not colors)

Objectives

• Perform quick risk quantification (no paid tools)
• Interpret ranges, confidence levels, sensitivity
• Turn results into recommended actions

You’ll learn

• Monte Carlo concepts (intuitive)
• P-values (P50/P80), tornado charts, drivers
• Action planning: cost/schedule trade-offs, sequencing mitigations

Hands-on experience

• Run simple simulations (spreadsheet-based) or guided demo
• Build a 1-page Decision Brief (options + recommendation)

Assets

• Sensitivity worksheet (Excel)
• Decision Brief template (Word/Slide)

Session 6 — Report to Decision Makers

Objectives

• Communicate the few key numbers that matter
• Link insights → clear recommendation → “Yes”
• Prepare for stakeholder Q&A

You’ll learn

• Executive narrative structure (Context → Risk → Impact → Ask)
• Visuals that work (ranges, confidence bars, simple sensitivity)
• Handling tough questions

Hands-on experience

• Build a 3-slide Executive Risk Report on the case study
• Peer review & instructor feedback

Assets

• Executive Risk Report (PowerPoint/Google Slides)
• Q&A cheat sheet (Field Book excerpt)

Final Step: Capstone & Assessment

Objectives

• 1-page RMP (lean version)
• QRR starter (10–15 risks with ranges & links)
• 3-slide Exec Report with a clear recommendation

• Mock Exam (online): 60–90 questions; pass mark 60%

• Mock Exam (online): 60–90 questions; pass mark 60%
  
• Interview Task (optional): 5-minute recorded pitch of your recommendation
• 3-slide Exec Report with a clear recommendation

Completion Criteria

• Mock Exam (online): 60–90 questions; pass mark 60%

• Attend ≥4 live sessions (or watch recordings)
• Submit capstone and pass the Mock Exam (≥70%)

Completion Criteria

• Mock Exam (online): 60–90 questions; pass mark 60%

• Certificate of Completion — PRMS (IQRM)
• 12 contact hours (recommended PMI Talent Triangle allocation: Ways of Working 8 | Business Acumen 3 | Power Skills 1)
• CPD: accreditation submitted & pending evaluation
• PMI PDUs: eligible for self-reported PDUs (IQRM is not a PMI ATP)
  

Bonuses (what you keep)

• Mock Exam (online): 60–90 questions; pass mark 60%

• PRMS Field Book (eBook): workflows, prompts, checklists
• Full Mock Exam + score report
• Interview Question Bank (with model answers)
• Templates Pack: RMP, QRR (Excel), Workshop Agenda & Script, Exec Report slides
• 90-day updates to templates (for waitlisters)