Risk management is definitely core to successfully completing any project. The classes, unfortunately, were repetitive enough to confuse the various processes, and I'm not really sure why the processes were separated into such small packages with so much overlap.
On the other hand, there's some nice quantification in here. One of the stumbling blocks I encounter most often with new project managers and occasionally with sponsors is trying to pin down High/Medium/Low probability and impact into an actual number. There's some good stuff in here about enumerated matrices and how to equate with H/M/L.
One of the most important things I've found in working with sponsors is determining their attitude toward risk. In this chapter that attitude is separated into some different components - appetite, tolerance, and threshold, to make risk attitude easier to determine and use as a guide for communications.
The ever present risk register is here, of course, and it's a good thing to use particularly on larger projects.
One of the concepts I had some difficulty with was risk as either negative or positive. In my mind, risks are negative. Risk in the PMBOK is equated with uncertainty, and therefore potential gains. Opportunities are named 'positive risks'. That's a little hard to really embrace. I understand that there's some overlap in the handling, but really not a lot other than impact (reward in this case) and probability. I think my clients would be pretty confused if I lumped them all together, but I will make more of an effort to consolidate opportunities into something resembling a register.
Overall, a nice key area of project management with good emphasis on the fact that realized risks mean examining most of the existing project documents concerned with the four dials was highlighted particularly in the PMBOK.
This is definitely an area to spend some time with the tools, techniques, and concepts.