Risk Management - New Topics 2016
The below new topics are widely used and mentioned in
PMI-RMP Exam, and in order to pass the exam you have to know them well.
1. Neuro Linguistic
Programming
Neuro-linguistic programming (NLP) is an approach to
communication, personal development, and psychotherapy created by Richard
Bandler and John Grinder in California, United States in the 1970s.
2.
Latin Hepercube Sampling LHS
(LHS)
is a statistical method for generating a sample of plausible
collections of parameter values from a multidimensional distribution.
3.
Correlation coefficient
A correlation
coefficient is a coefficient that illustrates a quantitative measure
of some type of correlation and dependence, meaning
statistical relationships between two or more random variables or observed data
values.
4.
Agile Project Management
Agile project management is an iterative approach to
planning and guiding project processes.
Just as in agile software development, an agile project is
completed in small sections called iterations. Each iteration is reviewed and
critiqued by the project team, which may include representatives of the client
business as well as employees. Insights gained from the critique of an
iteration are used to determine what the next step should be in the project.
Each project iteration is typically scheduled to be completed within two weeks.
5. Utility Function
the
utility function measures welfare or satisfaction of a consumer as a function
of consumption of real goods, such as food, clothing and composite goods rather
than nominal goods measured in nominal terms. Utility function is widely used
in the rational choice theory to analyze human behavior.
6. Pre-Mortem Analysis
also known as a premortem — is a managerial strategy
in which a manager imagines that a project or organization has failed, and then
works backward to determine what potentially could lead to the failure of the
project or organization.
7.Crystal Ball Simulation
Crystal Ball is the easiest way
to perform fast risk analysis and optimization in your own spreadsheets. With
one integrated tool-set, you can use your own historical data to build accurate
models, automate "what if" analysis to understand the effect of
underlying uncertainty and search for the best solution or project mix.
Oracle Crystal Ball is the
leading spreadsheet-based application for predictive modeling, forecasting,
simulation, and optimization. It gives you unparalleled insight into the
critical factors affecting risk. With Crystal Ball, you can make the right
tactical decisions to reach your objectives and gain a competitive edge under
even the most uncertain market conditions.
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