APM Project Risk Management Level 1

The APM Level 1 Project Risk Management qualification aims to equip learners with a fundamental understanding of risk management concepts and techniques within a project environment. The learning objectives for this qualification include:

1. Grasping the basic principles of risk management, including definitions, risk identification and risk assessment.
2. Understanding the role and importance of risk management within project management and the project life cycle.
3. Gaining knowledge of the risk management process, including risk identification, qualitative and quantitative risk analysis, risk response planning and risk monitoring and control.
4. Learning various risk identification techniques, such as brainstorming, interviews, checklists, assumption analysis and SWOT analysis.
5. Developing skills in qualitative risk analysis, including risk probability and impact assessment, risk prioritization and risk data quality assessment.
6. Acquiring knowledge of quantitative risk analysis techniques, such as decision tree analysis, Monte Carlo simulation and sensitivity analysis.
7. Familiarizing with risk response planning, including strategies for both threats and opportunities, risk ownership and risk action plans.
8. Understanding the importance of risk monitoring and control, including risk reviews, risk audits, risk reporting and risk management performance measurement.

Upon achieving the APM Level 1 Project Risk Management qualification, learners will be able to effectively contribute to identifying, analyzing and managing risks in a project environment, thereby enhancing project outcomes and promoting organizational success.