APM Project Risk Management Level 1 study plan
APM Project Risk Management Level 1 · Give each week a clear focus.
8 weeks · About 7 hours per week
Risk management fundamentals, principles and terminology & Risk analysis and evaluation (qualitative and quantitative)
Define and distinguish risk, issue, threat, opportunity, and uncertainty using APM terminology
Explain the risk management process cycle and the purpose of each step
Apply qualitative analysis techniques (probability-impact matrix, risk scoring) to a set of 10 sample risks
Calculate expected monetary value (EMV) for simple risk scenarios
Your checkpoint
A one-page glossary of 15 key risk terms with correct APM definitions and a completed probability-impact matrix for 10 sample risks
Risk analysis and evaluation (qualitative and quantitative) & Risk response planning and treatment
Perform quantitative risk analysis using decision trees and Monte Carlo simulation concepts on a worked example
Select appropriate risk response strategies (avoid, reduce, transfer, accept, exploit, enhance, share, reject) for given threats and opportunities
Draft risk response plans with owners, actions, and success criteria for five risks
Evaluate residual and secondary risks after treatment
Your checkpoint
A risk register extract for five risks showing response strategy, action plan, owner, residual risk rating, and any secondary risks
Risk identification and stakeholder engagement & Risk context, governance and the risk management framework
Identify stakeholders relevant to risk management and classify them using a power/interest grid
Describe at least four risk identification techniques (brainstorming, Delphi, SWOT, checklists, prompt lists) and when to use each
Explain the components of a risk management framework: policy, process, roles, responsibilities, and governance
Outline how risk appetite and tolerance are set and communicated within a project context
Your checkpoint
A stakeholder map for a case-study project with at least 10 stakeholders classified, plus a one-page summary of the project's risk governance structure
Risk management fundamentals, principles and terminology & Risk context, governance and the risk management framework & Risk identification and stakeholder engagement
Consolidate understanding of risk fundamentals, context, and identification through practice questions
Analyse how organisational context (internal and external) influences risk management approach
Explain the role of the risk owner, risk action owner, and risk champion
Identify common barriers to effective risk identification and propose mitigations
Your checkpoint
A 20-question self-test covering domains 1–3 with a score of at least 80%, plus a written reflection on two incorrect answers
Risk response planning and treatment & Risk monitoring, reporting and communication
Design a risk monitoring and reporting cycle including key risk indicators (KRIs) and reporting frequency
Create a risk dashboard or report template for a project steering group
Explain how to track risk response actions and update risk status
Describe the purpose and content of a risk audit and post-project risk review
Your checkpoint
A one-page risk dashboard template with at least three KRIs and a sample monthly risk report for a project
Opportunity management and risk in the wider project lifecycle & Risk maturity, culture and continuous improvement
Compare risk management approaches across project lifecycle phases (concept, definition, delivery, handover, closure)
Explain opportunity management and the opportunity lifecycle
Assess risk maturity levels using a recognised maturity model (e.g., APM Risk Maturity Model) and identify gaps
Describe how risk culture influences behaviour and propose actions to improve risk culture
Your checkpoint
A risk maturity assessment for a chosen organisation or project with a scored maturity level and three improvement recommendations
Risk management fundamentals, principles and terminology & Risk context, governance and the risk management framework & Risk identification and stakeholder engagement & Risk analysis and evaluation (qualitative and quantitative) & Risk response planning and treatment & Risk monitoring, reporting and communication & Opportunity management and risk in the wider project lifecycle & Risk maturity, culture and continuous improvement
Complete a full-length practice exam under timed conditions
Review all incorrect answers and map them to syllabus domains
Revisit weak areas identified from practice exam performance
Your checkpoint
A practice exam score report with a domain-by-domain breakdown and a prioritised list of three weak areas to revisit
Risk management fundamentals, principles and terminology & Risk context, governance and the risk management framework & Risk identification and stakeholder engagement & Risk analysis and evaluation (qualitative and quantitative) & Risk response planning and treatment & Risk monitoring, reporting and communication & Opportunity management and risk in the wider project lifecycle & Risk maturity, culture and continuous improvement
Review summary notes for all domains, focusing on weak areas from week 7
Complete a second full-length practice exam and achieve a pass mark
Finalise a one-page cheat sheet of key formulas, definitions, and response strategies
Your checkpoint
A second practice exam score of at least 75% and a completed one-page cheat sheet
Milestones
Week 4: Score at least 80% on a 20-question self-test covering domains 1–3
Week 6: Complete a risk maturity assessment with recommendations
Week 7: Complete a timed full-length practice exam and identify three weak areas
Week 8: Achieve at least 75% on a second full-length practice exam