April 8

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General Information

PMI Risk Management Professional (PMI-RMP)® Certification

The Project Management Institute Risk Management Professional (PMI-RMP)® certification is dedicated to specializing in project risk management and so target primary already project risk managers or people who wants to become one. Nevertheless any project managers could highly benefit from this certification and it is a good complementary for already PMPs for instance.

The PMI Risk Management Professional (PMI-RMP)® highlights your ability to identify and assess project risks, mitigate threats and capitalize on opportunities. In this capacity, you enhance and protect the needs of your organization.

Who Should Apply?
If you have advanced knowledge and experience in risk management, or if you are a project manager focused on project risk management, including for large projects and/or complex environments, then the PMI-RMP® is an excellent choice for you.

You will need to study Chapter 11 of the Guide to the Project Management Body of Knowledge (PMBOK® Guide), and other sources to prepare for the exam.

Here are the stops how to:

Step 1:  Get familiar with the basic resources 


  • The PMI-RMP has 170 questions; 150 are scored and the others are pretest questions. The exam is split among PMI’s Five Domains of Risk Management, which are:
    • Risk Strategy and Planning:
      (19-20 %). 

      Concerns tasks and processes for selecting and developing risk management procedures and tools, producing the risk management plan, and setting procedures for evaluating risks and updating the risk management plan. Be familiar with the parts of the risk management plan, especially its inputs.
    • Stakeholder Engagement:
      (19-20 %) 

      Activities related to getting stakeholders and project team members on board with risk management. These tasks are important to develop a team-wide, and even organization-wide, commitment to risk management. Be familiar with risk communication procedures, enterprise environmental factors and organizational process assets, and risk tolerance evaluation.
    • Risk Process Facilitation:
      (25-28 %) 

      Activities related to executing the risk management strategy. Be familiar with qualitative and quantitative risk analysis tools and techniques, estimating probability and impact, and developing contingency reserves.
    • Risk Monitoring and Reporting:
      (19-20 %) 

      Activities related to evaluating risk response against data gathered, updating stakeholders and the project team on risks, and continuously improving risk management. Be familiar with data gathering and management techniques and communications management.
    • Perform Specialized Risk Analyses:
      (14-16 %) 

      Activities related to advanced risk identification, analysis, and tools and techniques. Be familiar with statistics, especially concerning interpreting quantitative and qualitative data, and with building representative risk models.
  • Review the ☛  Practice Standard for Project Risk Management.
  • Review the latest edition of A Guide to the Project Management Body of Knowledge (PMBOK® Guide); primarily chapter 11 (Risk Management) - see next step ... 

Step 2: Start with PMBOK® Guide – but be prepared to move beyond

Chapter 11 of the PMBOK® Guide deals with Project Risk Management and is an excellent resource for each of the items that is on the exam.

Additional chapters from the PMBOK® Guide that will be helpful in your study include 
Stakeholder Management (Chapter 13), Communication Management (Chapter 9) Human Resource Management (Chapter 10) Quality Management (Chapter 8) and Procurement Management (Chapter 12).

Going beyond

 Study additional sources to supplement the PMBOK® Guide. A good source therefore might be PMI’s reference list (Reference List ).

Here are our recommendations to choose from:

PMI-RPM® Prep Books recommendations:

This is an update and expansion upon PMI’s popular reference, The Practice Standard for Project Risk Management. Risk Management addresses the fact that certain events or conditions may occur with impacts on project, program, and portfolio objectives. This standard will: identify the core principles for risk management; describe the fundamentals of risk management and the environment within which it is carried out; define the risk management life cycle; and apply risk management principles to the portfolio, program, and project domains within the context of an enterprise risk management approach It is primarily written for portfolio, program, and project managers, but is a useful tool for leaders and business consumers of risk management, and other stakeholders.

As a PMI member you can downlaod a PDF version for Free!

Approach your exam with confidence through this comprehensive self-study guide, authored by the pioneer in PMI-RMP exam preparation material. You will benefit from a wide range of risk management topics, including the concepts, terms, theories, and processes covered by this rigorous certification exam. Exam domains covered include: Risk Communication, Risk Analysis, Risk Response Planning, Risk Governance.

Ideal for: • Self Study • Study Groups • Training Courses Based on A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Fifth Edition and the Practice Standard for Project Risk Management, this comprehensive PMI-RMP Exam Prep Study Guide provides learners with all of the information needed to be successful on the PMI-RMP exam. Exercises throughout the Study Guide ensure maximum learner engagement and retention. Aligned with: • PMI-RMP Examination Content Outline • Practice Standard for Project Risk Management • PMBOK® Guide 

Who has time to waste? If you want to make a big difference on projects, Risk Management is the key! This practical and easy-to-use Course in a Book® is based on years of project experience and teaching risk management to professionals across dozens of industries. It contains: Tricks of the Trade® from more than 140 worldwide contributors A methodology that will help you prevent many of the problems commonly faced on projects Over 1,000 sample risks and risk categories that will help you identify more threats and opportunities on your projects Risk management templates you can adapt to your projects Exercises that utilize our accelerated learning approach to increase your knowledge A 75-question final review with detailed explanations to test your understanding of risk management Very different than anything else available, this book is the primary text for risk management courses worldwide and essential reading for anyone looking for a clear explanation of risk management and how it fits into the project management process. Learn things you can apply NOW to your projects today!

Join us in WhatsApp!

Get direct Support within our RMP related WhatsApp Group of RMP Aspirants and Experts! Lead by the well-known RMP Expert Asad Naveed!

PrepCast 4

Step 3:  Took a RMP preparation course and get your required contact hours of training.

Enroll in a formal study course offered by PMI chapters or accredited Authorized Training Partners (A.T.P.s). You can also review self-study books published by Authorized Training Partners and other reputable training organizations.

Here are our recommendations to choose from:

PMI-RPM® Course recommendations:

Validate your knowledge of identification and assessment of the project risks, mitigation of the threats, and opportunities enhancement with PMI Risk Management Professional (PMI-RMP) certification.

What's Inside

  • 30 Contact Hours/ PDU® – Approved for RMP® Certification Exam
  • 11+ hours of Training Videos for all Objectives (100% Syllabus Covered)
  • 5 Full Length Mock Exams (850 Practice Tests Questions and another 110 Objective Based Unique Questions)
  • Objective Based Practice Tests
  • Exhaustive Explanation with every question
  • Unlimited Access
  • You will earn 30 exam contact hours to be eligible for the PMI RMP exam.
  • You will get all the resources you need to pass the PMI RMP certification exam.
  • You will be fully aware of the PMI-RMP math: Detailed RMP math explanations for every topic.
  • You will understand the risk management processes in detail.
  • Understand the formulas, charts, and theories of risk management.
  • PMI-RMP pass guarantee: You will pass the PMI-RMP exam easily on your first try.
  • You can communicate with the instructor and openly ask questions that will be addressed within 48 hours!
  • Be able to answer all the Monte Carlo simulation exam questions.
  • Describe and understand all Project Risk Management processes, as outlined in the PMI® PMBOK® Guide 5th Edition
  • Gain the necessary information to prepare for the PMI® Risk Management Professional (PMI-RMP®) Certification Exam
  • Use internationally-recognized best practices for managing risks
  • Avoid common risk management mistakes
  • Describe Risk Management principles and techniques and how they apply to the day-to-day management of projects and operations
  • Be more focused and proactive about preventing problems as opposed to dealing with them as they occur
  • Understand the nature of the PMI-RMP exam
  • Understand the eligibility requirements of the PMI-RMP exam
  • Understand the application process of the PMI-RMP exam and the associated details
  • Prepare for passing the PMI-RMP exam

Step 4: Finalize your study and preparation. Quiz yourself using flashcards and study tables, review your notes from class, and take lots of practice exams

Various Types of Questions in the PMI-RMP® Exam
  • Situation based questions – Only candidates with good experience and knowledge in project risk management can choose the right answers. To eliminate the less risk management experienced resources, PMI used these questions. This is the most complex set of questions for most of the candidates.  
  • Questions with two or more possible right answers – Multiple activities needs to be performed to manage the tricky situation in the project. Almost all the options are performed by the risk manager. But the sequence of performing the activity is important and it appears you have more than one right answer. You need to understand the question well to answer the questions in these set of questions.
  • Questions related to PMI-RMP® mathematics – These are straight forward questions and you need to apply the relevant formulas. Identification of the formula may be difficult.
  • Questions with make-up terms – One of the option in the question may not be relevant to the PMI-RMP® concepts and if you prepared well you can eliminate this option easily.
  • Questions with lengthy word – Sometimes the length of the question may be too long and you may not need all the inputs provided in the questions. To confuse you, many terms which are not related to the questions are given.
  • Questions related to tools and techniques, input and output from project risk management process – You need to have the clear understanding of the tools and techniques, input and output for all the project risk management process to answer well in these set of questions.
Practice, practice, practice – cause practice is the key!

Use additional sources to deepen your knowledge and get exam ready. Utilize Flashcards, other materials and a lot of sample questions and mock exams ... 

Here are our recommendations to choose from:

PMI-RPM® practice exams and additional material recommendations:

With over 350 PMI Risk Management Professional (PMI-RMP) exam topics and Risk Management quick reference notes, this uniquely formatted flashcard book is designed to reinforce the PMI-RMP domain topics that you have learned in preparation to pass the exam, while helping you identify additional areas you may not be aware of that you need additional preparation for! You will easily be able to associate answers to the topics covered on the PMI-RMP exam from this book. By quickly flipping through the pages of these flashcards you can easily review the various exam related domain topics in your spare time. You can also cutout the "reversible pages" so that you can use them as randomized flashcards to help retain everything you learned.

What's Inside

  • 5 Full Length Mock Exams (850 Unique Questions)
  • Objective Based Practice Tests
  • Exhaustive Explanation with every question
  • Reports to assess Strengths & Weaknesses
  • Unlimited Access
  • What are the Practice Tests?

    Practice tests are designed by experts to simulate the real exam scenario. The questions are based on the exam syllabus outlined by official documentation. The questions that appear in each practice test are unique and not repeated in other practice tests. These practice tests are provided to the candidates to gain more confidence on exam preparation and self-evaluate them against the exam content.

Preparing for any exam can be a daunting task. This self-study guide takes you through several exercises within the following four exam domains: Risk Communication Risk Analysis Risk Response Planning Risk Governance This workbook provides a highlight and review of the material included within the PMI Risk Management Professional (PMI-RMP) Exam Preparation courseware. Each workbook chapter ends with practice exam questions, study terms, and exam tips.

This course contains 2 exams which is created based on RISK PRACTICE STANDARD and PMBOK5.

The practice exams includes the right answer, the clarification for correct answer, the question reference in the PMBOK  and RISK PRACTICE STANDARD.

The practice exams included different examples of each type of the commonly found questions on the PMI-RMP Exam ; including the regular question,Monte Carlo questions, table question.

This course of "PMI-RMP" Real practice exams is the best way for the PMI-RMP candidate to improve his knowledge and to see the areas of weakness and strength .

Step 5: Take the exam, earn your PMI-RMP®, and celebrate!

If you have done all those steps you are well prepared for the exam!

Go for it! If you still have any questions or doubts, please let us know in the comments! 

Much SUCCESS!

Join us in WhatsApp!

Get direct Support within our RMP related WhatsApp Group of RMP Aspirants and Experts! Lead by the well-known RMP Expert Asad Naveed!

PrepCast 4

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About the author

Markus Kopko, PMP 20+ Years of Relevant Experience Markus has more than 20 years of management and leadership experience, including more than 18 years in Project and Program Management. ...

  • trushal umrania says:

    hi there you mentioned in the article; Practice Standard for Project Risk Management (PMI) which goes further into risk management processes (free for PMI members!). But am unable to do this, kindly send me a note on how I can get the free access?

    • Hello trushal,

      thanks for your comment. As a PMI member you need to login to your PMI.org dashboard and there go to the standards section. You should be able to download the actual standard for risk management there. If not please contact PMI customer care center for further help.

      Regards,

      Markus

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