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Risk Management Professional (RMP) at a Glance

Risk Management Professional (RMP) at a Glance

Apart from being the most top-rated Risk management certification in the industry, RMP certification showcases your experience, qualifications, skill toolkit and competency required to lead and direct projects and drive improved top-line results. This gold standard is tailor-made and administered by the Project Management Institute (PMI), the world leader for the advancement of the project management profession worldwide.

To buttress the value of RMP Certification, a recent study by the PMI indicates, ‘when more than one-third of their Risk managers are RMP-certified, organizations complete more of their projects on time, on budget and meeting original goals.’

The PMI Risk Management Professional (PMI-RMP) is a specialized credential offered by PMI in response to the growing need of professionals who specialize in project risk management.

The PMI-RMP course empowers you to develop the knowledge and skills required to clear to your PMI-RMP exam on the first attempt. Risk Management Professional (RMP) certification demonstrates a professional’s specialization in identifying, assessing, and controlling risks. Trainees completing the PMI-RMP certification training will have the knowledge and skills needed to plan, manage and control project risks.

Unmanaged risks often lead to project failure, so effective risk management is essential to the success of every project. Projects by their nature always carry uncertainty (risk). Effective risk management is a key contributor to project success. This course 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.

While this risk management training is designed to prepare professionals to take and pass the PMI-RMP certification exam, it can be taken by anyone who desires further knowledge in the management of uncertainty (risk) within projects.

RMP Certification Exam Content Outline

To earn the RMP, you shall pass the RMP Exam after completing our result-oriented RMP Prep. The following table identifies the proportion of questions from each domain that will appear on the examination. These percentages are used to determine the number of questions related to each domain and tasks that should appear on the multiple-choice format examination.

Domain

Percentage of Items on Test

Risk Strategy and Planning:

 

Activities related to developing policies, processes, and procedures for risk assessment, planning, and response.

19-20%

Stakeholder Engagement:

 

Activities related to promoting the understanding of project risk management for stakeholders and project team members, assessing stakeholder risk tolerance, prioritizing project risk, and promoting risk ownership.

19-20%

Risk Process Facilitation:

 

Activities related to facilitating risk identification, evaluation, prioritization, and response among project team members.

25-28%

Risk Monitoring and Reporting:

 

Activities related to monitoring risk, evaluating risk response against established metrics, and communicating risk response performance to stakeholders and project team.

19-20%

Perform Specialized Risk Analyses:

 

Activities related to the specialized quantitative and qualitative tools and techniques used by project risk management professionals.

14-16%

Total

100%

RMP Certification Exam Information

The RMP examination is comprised of a suite of 170 multiple-choice questions. Of the 170 questions, 20 are considered pretest questions that do not affect the score and are used in examinations as a compelling and legitimate way to test the validity of future examination questions. All questions are randomly placed throughout the examination.

No. of Scored Questions

No. of Pretest (Unscored) Questions

Total Examination Questions

150

20

170

The allocated time to complete the computer-based examination is three and a half hours.

Topics

Introduction to Risk Management

    • Objective of Risk Management

    • Risk Management and Project Life Cycle

    • Critical Success Factors

    • Uncertainty

Principles and Concepts of Risk Management

    • Definition of Risk and Risk Management

    • Individual Risk and Overall Project Risk

    • Types of Risk

    • Risk Factors

    • Stakeholder Risk Attitudes

    • Stakeholder Risk Communication

    • Risk Appetite, Tolerance, and Threshold

Introduction to PMI Risk Management

Overview of the Risk Management Processes

Plan Risk Management

    • Purpose of Risk Management Planning

    • Components of the Risk Management Plan

    • Success Criteria for Risk Planning

    • Barriers to Successful Risk Planning

    • Risk Categories

    • Risk Breakdown Structures (RBS)

    • Techniques for Risk Planning

    • Definitions of Risk Probability and Impact

    • Create a Risk Management Plan

Identify Risks

    • Purpose, Objectives, and Critical Success Factors

    • Risk Meta-Language

    • Risk Identification Techniques

    • Information Gathering Techniques

    • Checklist Analysis

    • Analyzing Assumptions and Constraints

    • Diagramming Techniques

    • Cause and Effect (Fishbone diagrams)

    • Risk Triggers

    • Develop a Risk Register

Perform Qualitative Risk Analysis

    • Purpose, Objectives, and Critical Success Factors

    • Categorizing Risks

    • Risk probability and impact, Risk score

    • Probability and Impact Scales

    • Determining Risk Ranking within the Project and Between Projects

    • Probability and Impact Matrix

    • Risk Data Quality Assessment

    • Risk Urgency Assessment

    • Analytic Hierarchy Process (AHP)

Perform Quantitative Risk Analysis

    • Purpose, Objectives, and Critical Success Factors

    • Accounting for Risk Inter-Relations in Projects

    • Data Gathering and Representation Techniques

    • Modeling & Simulation, Probability Distribution

    • Three Point Estimating

    • Monte Carlo Simulations, S-Curves

    • Tornado Diagrams, Sensitivity Analysis

    • Decision Trees

    • Risk Expected Monetary Value (EMV) Calculation

Plan Risk Responses

    • Critical Success Factors

    • Risk Owners, Risk Action Owners

    • Strategies for Negative and Positive Risks (Threats and Opportunities)

    • Risk and Contracting

    • The Risk Response Action Plan

    • Contingency Planning, Calculating the Contingency Fund (Reserve Calculation)

    • Fall back Planning

    • Secondary and Residual Risks

    • Multi-Criteria Selection Technique

    • Scenario Analysis

Monitor and Control Risk

    • Purpose and Critical Success Factors

    • Risk Re-assessment

    • Managing Contingency Reserves

    • Risk Audits and Risk Reviews

    • Variance and Trend Analysis

    • Reserve Analysis

    • Workarounds

    • Corrective and Preventive Actions

    • Updates to the Risk Register