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Major Topics to Explore

The PMI-RMP certification exam contains five major domains to be covered. The candidates should develop a solid understanding of these topics before attempting the test. Let’s take a look at these exam objectives.

• Risk Strategy & Planning (19-20%)

  The tasks covered in this domain include evaluating risk and setting criteria for risk levels while assessing the tolerance of risk among the stakeholders. It also covers updating risk policies in the project; developing and recommending the appropriate risk strategies; providing a risk management plan; establishing criteria for the risk management process for the project.

• Risk Process Facilitation (25-28%)

  The third section of the PMI-RMP certification exam teaches the test takers how to use the risk assessment processes by studying risk tolerance and coming up with projected risk levels. It also covers competency in identifying risks, evaluating identified risks, developing a workable response procedure, as well as creating a contingency reserve according to the risk exposure identified in the project. This area also covers the utilization of data to budget for risk management and utilization of staged scenarios to evaluate the appropriateness of responses.

• Stakeholder Engagement (19-20%)

  The second subject area measures the students’ understanding of risk management among the team members as well as their skills in training & coaching the stakeholders on important risk management processes and delivering training for the team members on how to apply risk management processes during the project. It also equips the applicants with the skills required to assess the stakeholder risk tolerance rates as well as identify any attitudes and biases to risks among the stakeholders and keep them enlightened on the prioritization of risks. The domain also provides the examinees with the knowledge of the recommendations they can give to the stakeholders on how to plan and strategize for risks, how they can communicate with the rest of the team, and how to keep the team members involved in the project through efficient communication.

• Performing Specialized Risk Analysis (14-16%)

  The fifth objective focuses on performing specialized risk analyses, which cover the ability to execute the following tasks: monitoring different factors of risks within the project, analyzing the data collected, using the appropriate tools to assist in the stakeholder decision-making processes in regards to risk management.

• Risk Monitoring & Reporting (19-20%)

  The fourth topic that the PMI-RMP exam deals with covers five tasks. This teaches you how to keep track of the risk management processes in a project by keeping an updated record of all the risk incidences and their responses. It also highlights how to work with a project manager through proper communication, monitoring the response metrics, and analyzing the performance of the proposed risk responses. The domain also covers how to keep the risk management plan updated during a project and how to capture and use lessons learned in risk management in the project.

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Key Details to Know

The PMI-RMP certification exam contains a total of 170 multiple-choice questions, which are to be completed within the allocated timeframe of 210 minutes. The test has a tutorial and a survey that are optional for every candidate. Each of them can take at least 15 minutes of your time. However, this time is not included in the exam time of 210 minutes. 20 questions out of 170 are pretest items, so they do not affect your overall score. These questions are included in the content of this test to legitimize its validity. The computer-based exam is administered by the Pearson VUE testing company and is delivered in the English language only. The exam will cost you $520 if you are a PMI member and $670 if you are a non-member. If you fail the test at your first attempt, you will have the opportunity for two retakes within a 1-year eligibility period. The retake fee amounts to $335 for the members and $435 for the non-members.

The PMI-RMP certificate required renewal every three years. To maintain your certification status, you will need to earn 30 Professional Development Units (PDUs) in the risk management domain with a 3-year period.

Books and Courses to Launch PMI-RMP Prep

As for the reliable resources to start your PMI-RMP prep, here are 4 options you should check out in the first place:

• Project Risk Management (Project Management) by Bruce BarkleyYou can get this helpful paperback book on Amazon for $46.82. It uses templates and action plans to simplify the concepts in one of the PMI’s most popular books: A Guide to the Project Management Body of Knowledge (PMBOK Guide).
• PMI-RMP Exam Content Outline by Project Management InstituteThis is the official content outline for the final PMI-RMP test. It shows you all of the possible domains, from which the exam questions are derived. It also contains the percentage of questions for each topic and tasks you may be asked to carry out.
• Practice Standard for Project Risk Management by Project Management InstituteThis book is another useful official resource for your test prep. It provides the standard practices and techniques needed for effective project risk management, most of which you will be tested on. Thus, with its help, you will familiarize yourself with such terms as iterative processes, current assessments, and templates.
• Project Management Training at DeVry UniversityDeVry University is one of the PMI-authorized trainers. You can enroll in one of their project management courses to learn more about project risk management. One of the most prominent of DeVry University course options is Project Risk Management training, which is a great way to prepare for the upcoming PMI-RMP exam.

Reference: https://www.pmi.org/certifications/risk-management-rmp

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