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 percent. 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 percent. 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 percent. 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 percent. 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 percent. 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.
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).
Study additional sources to supplement the PMBOK® Guide. A good source therefore might be PMI’s reference list (Reference List ). Here are our recommendations what to study at least::
- ☛ Practice Standard for Project Risk Management (PMI) which goes further into risk management processes (free for PMI members!).
- PMI-RMP: Risk Management Professional Exam Preparation Study Guide; Paperback – February 14, 2011 by Vanina Mangano (Author), Al Smith Jr. (Contributor)
- Risk Management Tricks of the Trade for Project Managers + PMI-RMP Exam Prep Guide by RMC Publications
- Passing the Risk Management Professional (PMI-RMP)® Certification Exam the First Time! by Dog Ear Publishing, LLC
- PMI-RMP Exam Success Series: Flashcards – April 22, 2013 by MBA, CAPM, Project +, CSM, CCBA, PMI-SP, PMI-RMP, PMI-ACP, PMP, PgMP Tony Johnson (Author, Editor, Illustrator)
Step 3: Took a RMP preparation course and get your required contact hours of training.
PMI-RMP Course by SimpliLearn
The Risk Management Course empowers you to develop knowledge and skills required to clear your PMI-RMP® exam in first attempt. Risk Management Professional certification demonstrates a professional’s specialization in assessing, identifying and controlling risks. This course will enable you to assess the risk velocity and help you to ascertain the route to risk mitigation by prior planning.
By the end of this training you will be able to
- Clear the PMI-RMP® Certification exam in First Attempt
- Identify by qualitative and quantitative assessments of risk
- Develop and deploy risk mitigation strategies
- Possess knowledge of risk management based on the PMBOK® Guide and Practice Standard for Project Risk Management
You can find some other course options here: additional course options for PMI-RMP prep
Step 5: Take the exam and earn your PMI-RMP®!
If you have done all those steps you should really be well prepared for the exam!
Go for it and earn your