Risk Process Facilitation (25-28%)

• Facilitating the expansion of the related risk actions and aligned risk response strategy by risk owners from the data found during the risk analysis to ensure defined & timely action when needed;
• Using the scenarios to evaluate the key requirements & dependencies and validate potential risk responses for enhancing the probability of project success.
• Providing the risk data to schedule and cost analysts to assure that project risk is correctly displayed in the schedule and cost estimates for the project;
• Facilitating the creation of project emergency reserve according to the risk display of the project to have the resources and capability for responding to the realized risks;
• Utilizing different techniques to facilitate risk identification for enabling the stakeholders and project team to determine & understand the risk display of the project;
• Applying the risk assessment tools and processes to determine risk levels and measure stakeholder risk tolerances;
• Utilizing the quantitative and qualitative techniques & tools to facilitate the evaluation of the project team’s of the recognized risks’ attributes for prioritizing the risks for response planning;

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

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2. In case you have a four-year degree such as a bachelor's degree, you need to have:

• worked as a project manager for 24 months in the past 5 years;
• undergone project risk management education for at least 30 hours.

This PMI-RMP exam is open to everyone who meets the aforementioned requirements and when it comes to the test details, it contains multiple-choice questions about risk identification, strategies, analysis, mitigation procedures, and best practices. In all, you will have 3 hours and 30 minutes to choose the correct answers to 170 items. What concerns the exam entry fee, the prices for PMI members and non-members differ. Thus, members of the PMI pay $520 for the official test while non-members pay $670. So, if you want to save another $150 on your PMI-RMP certification, you can become a PMI member by registering on their website. To add more, the PMI-RMP exam will be held in any of the Pearson VUE-approved centers in your area. Overall, there are several such testing centers around the world so all you need to do is to find one near your location. Finally, eligible candidates are allowed to take the PMI-RMP exam a maximum of 3 times within one year of eligibility.

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Preparation Process

Unfortunately, the PMI does not provide the applicants with any training courses, but we ensure that you can find useful tips, which help you prepare for the PMI-RMP exam. All in all, it is recommended to do the following:

• Observe the latest edition of ‘A Guide to the Project Management Body of Knowledge’.
• Look through the Exam Content Outline;
• Study the Practice Standard for Project Risk Management;
• Take up a formal study course offered by the accredited Authorized Training Partners or PMI chapters;
• Download and review the PMI-RMP Handbook;

All the links for these materials can be found on the official website.

Besides that, the potential candidates can use the other prep resources, such as practice tests, tutorials, videos, and books, which give them all the required knowledge and skills for the PMI-RMP exam.

PMI stands for the Project Management Institute, and it is the world's No.1 association for project managers who want to leverage their skills in this field by obtaining the related certificates. Among many other options, this institute offers the PMI-RMP or the PMI Risk Management Professional certification. Individuals who prove their knowledge of project risk identification and mitigation by passing the associated PMI-RMP exam will be issued this certification. But why opt for it? Well, project risk management remains one of the most important activities for organizations all around the globe with the majority of the world's largest project management companies doing a lot of risk management activities to increase their chances of succeeding. So, since project risk management significantly improves the project success rate and saves money, the PMI-RMP certificate will greatly increase your value in the eyes of potential employers.

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