Advanced project risk management (APRM) utilizes more sophisticated tools, techniques, and processes than standard risk management to enable better decision-making and more effective project management. APRM aims to further reduce uncertainty, develop more effective response plans, and increase competency and skills through methods like greater risk analysis, improved risk prioritization, enhanced response option development, and risk management training. To implement APRM, a project manager should understand their objectives, choose techniques that are practical and provide the most benefit for the resources required, and obtain buy-in through education, communication, and demonstrating successes.

1. What is Advanced Project Risk Management? Rubin Jen, P. Eng, PMP Beyond Execution March 3, 2011

5. Different Ideas around APRM Risk Database Probabilistic analysis Monte Carlo Insurance Attack Risk Visualization Confidence Levels Delphi Opportunity Management Risk Communication Issues Analysis Bubble Graphs Quantitative Analysis Risk Project Manager Audits Predictive Metrics Risk Breakdown Structure Range Estimates Risk Awareness Risk Tolerance Calibration Qualitative Analysis Lessons Learned Urgency Risk Reporting Enterprise Risk Management Monitoring & Control

16. What should I know?

22. How Can I Use It?

24. Better Decision Techniques Decision trees Mitigation/contingency plans Attacking risk Risk breakdown structures Risk audits Delphi technique Increased identification Prioritization Graphical Collaborative Techniques Knowledge Transfer Simple Technique

25. Better Performance Techniques Heat map/bubble chart VIRT Team meetings Risk awareness Team involvement Training Prioritization Graphical Collaborative Techniques Knowledge Transfer Simple Technique

26. Better Assessment Techniques Urgency Weighted scoring Probabilistic analysis Range estimates Confidence level Increased range Monte Carlo Prioritization Graphical Collaborative Techniques Knowledge Transfer Simple Technique

28. Are We Done Yet?