PMI-RMP

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The PMI-RMP (Project Management Institute - Risk Management Professional) exam is a certification examination offered by the Project Management Institute (PMI) that focuses specifically on risk management within the field of project management. The PMI-RMP certification is designed for individuals who want to demonstrate their expertise and proficiency in identifying, assessing, and mitigating project risks. Here's a detailed description of the PMI-RMP exam:The PMI-RMP certification

Course Description

It is intended to validate an individual's knowledge and skills in risk management practices and principles as they apply to project management.Target Audience The PMI-RMP certification is suitable for project managers, project coordinators, risk managers, and individuals involved in project management who wish to enhance their risk management competencies.The PMI-RMP exam covers a range of topics related to risk management, including risk identification, risk assessment, risk response planning, risk monitoring and control, and various tools and techniques used in risk management. It is based on the PMI Risk Management Professional (PMI-RMP) Handbook.

Answer: The PMI-RMP certification is a globally recognized credential that validates your expertise in project risk management. It demonstrates your ability to identify, assess, mitigate, and manage risks in project environments. It can enhance your career prospects and credibility, especially if you work in project management or risk management roles.

Answer: To be eligible for the PMI-RMP exam, you typically need to have a secondary degree (high school diploma, associate's degree, or global equivalent), along with at least 4,500 hours of specialized project risk management experience and 40 hours of project risk management education. Alternatively, candidates with a four-year degree can substitute with 3,000 hours of project risk management experience and 30 hours of relevant education.

Answer: The PMI-RMP exam is a computer-based test comprising multiple-choice questions. It covers several domains, including Risk Strategy and Planning, Stakeholder Engagement, Risk Process Facilitation, Risk Monitoring and Reporting, and Risk Governance. The questions assess your knowledge of risk management principles and practices.

Answer: PMI provides official resources for exam preparation, including the PMI-RMP Handbook, which details the exam content, eligibility criteria, and application process. You can also access study guides, practice exams, and training courses offered by PMI and third-party providers. These resources are invaluable for comprehensive exam preparation.

Answer: The PMI-RMP certification is valid for three years. To maintain your certification, you must earn a minimum of 30 Professional Development Units (PDUs) in risk management-related activities during each three-year renewal cycle. These activities can include continuing education, attending relevant events, or contributing to the field of risk management.

What you'll learn

  • Earn the 30 contact hours certificate to qualify for the PMI-RMP exam Anticipate the general types of questions that appear on the exam and learn how to answer them. Cite the domains of risk management, the related tasks and deliverables. Measure your ability to successfully complete the exam through sample questions in each domain. Identify the critical principles, activities, tasks, techniques, and terms described in the PMI-RMP Exam Content Outline

Requirements

  • Secondary degree (high school diploma, associate's degree, or the global equivalent)
  • 36 months of project risk management experience within the last 5 years.
  • 40 hours of project risk management education.

Curriculam

General Introduction

Overview of the RMP Certification
Project, Portfolio, and Programs
Integrated Model
Risk in Projects, Programs & Portfolios
The role of the Project Manager and Organizational Influences
The Structure of the PMBOK® Guide
Project Management Processes and Project Life Cycle
Review of all PMBOK Knowledge Areas
Integration Management

Risk in the WBS

Schedule Risk

Risk in Project Budgets

Utility Theory
Portfolio Risk – Management & Contingency Reserves
Earned Value Method

Quality and Risk

Interpersonal/HR Skills and Risk

Communication Management
Stakeholder Management and Risk
How to communicate Risk
How to report Risk – Performance Metrics
Role of Team Members, Management, Sponsors
MCPs (Management Control Points)

Contract Types and Risks

Risk Taking or Risk Averse

Risk Tolerance
Strategic Risks
Risk Management Software
Risk Management Plan
Risk Breakdown Structure

Plan Risk Management

Identify Risks
Risk Register
Probability and Impact Matrix
.Perform Quantitative Risk Analysis
.Perform Qualitative Risk Analysis
Sensitivity Analysis
Expected Monetary Value Analysis
Modeling and Simulation (Monte Carlo Simulation)
Schedule risk – PERT and other Estimations
.Plan Risk Responses
Strategies for Opportunities
Monitor and Control risks
Risk Audits
Compliance Management
Variance and Trend Analysis
Risk regarding Change Requests
Lessons Learned – input to an improved Risk Management approach

Code of Ethics

Sample Test
Prepare for eExam
Wrap-Up & Evaluation

FAQ

Answer: There are typically no prerequisites for enrolling in PMI-RMP training or education programs. However, it's recommended that candidates have a foundational understanding of project management and risk management principles before pursuing more advanced training.

Answer: Yes, the PMI-RMP certification is internationally recognized and holds value worldwide. PMI is a globally respected organization, and the certification demonstrates a candidate's competence in risk management, making it valuable in various industries and regions.

Answer: If you do not pass the PMI-RMP exam on your first attempt, you have two more opportunities to retake it within one year of your initial eligibility period. However, you must pay an exam reexamination fee for each retake attempt.

Answer: The primary requirement for maintaining the PMI-RMP certification is to earn and report a minimum of 30 Professional Development Units (PDUs) related to risk management during each three-year renewal cycle. These PDUs can be earned through various activities, including education, attending events, and contributing to the field.

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Training Course Features

Assessments
Assessments

Every certification training session is followed by a quiz to assess your course learning.

Mock Tests
Mock Tests

The Mock Tests Are Arranged To Help You Prepare For The Certification Examination.

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Lifetime Access

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24x7 Expert Support

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Certification
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PMI-RMP

Answer: The application process involves documenting your education, project risk management experience, and education hours. After submitting your application, PMI typically takes about five business days to review and approve it. Once approved, you'll receive instructions for scheduling your exam.

Answer: The exam fee for PMI members is usually lower than for non-members. As of my knowledge cutoff date in September 2021, the fee for PMI members was around $520, while non-members paid approximately $670. Additional costs may include study materials, training courses, and renewal fees every three years.

Answer: Yes, the PMI-RMP certification is designed for professionals with experience in project risk management. While PMI-RMP focuses primarily on risk management, having a foundational understanding of project management principles and some experience in project management can be beneficial.

Answer: PMI doesn't publicly disclose specific pass rates for their exams. If you don't pass the PMI-RMP exam on your first attempt, you can retake it. PMI allows candidates to retake the exam up to three times within one year of their initial eligibility period. It's advisable to thoroughly review your exam results and areas of weakness before retaking the exam.

Answer: The PMI-RMP exam primarily consists of multiple-choice questions. PMI does provide sample questions in their official study resources and on their website, which can help candidates get a sense of the question format and content.

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