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Topics Measured by PMI-RMP

The PMI-RMP exam will cover several risk management-related topics that you need to master beforehand. So, here's a look at some of these domains and their concepts:

• Risk Strategy and Planning

  The concepts covered in this area will make up around 20% of all exam questions. Particularly, it tests your ability to plan out procedures for risk identification, analysis, and mitigation. It also gives you a chance to prove your expertise when it comes to developing and improving risk management processes for a project.

• Risk Monitoring and Reporting

  With about 20% of the exam spinning around this portion, it's a must-know for everyone hoping to earn the PMI-RMP certificate. In particular, this topic deals with how specialists monitor risks and communicate performance to other team members and stakeholders.

• Stakeholder Engagement

  This scope takes up to 20% of the questions you will encounter in the PMI-RMP test. It covers the areas related to helping stakeholders and workers understand the risks involved in their project. Your ability to train and use coach techniques will also be tested within such a topic.

• Risk Process Facilitation

  25% to 28% of the test questions will revolve around this section. It involves the processes through which team members identify, analyze, and respond to risks in a project. Also, tools & methods for fundamental quantitative risk analysis is assessed by this part.

• Perform Specialized Risk Analysis

  No more than 14%-16% of the questions will stem from this part. So, here, you'll get to express your knowledge of using specialized tools and best practices for project risk management with the help of basic as well as higher-level statistics.

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

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Risk Monitoring and Reporting (19-20%)

• Capturing the risk lessons discovered through a thorough review of the project risk process performance reports, risk management plan, risk audits, risk register, and other reports for incorporating into later risk planning.
• Utilizing the standard tools & techniques to document and regularly update the project risk data for maintaining a current repository of all the project risk information;
• Coordinating with project manager utilizing communication techniques for integrating the risk management during the project;
• Monitoring the risk response metrics by examining risk response display information and presenting to key stakeholders for ensuring analysis of risk as well as developing extra risk response strategies to remove secondary & residual risks;
• Updating the project risk management plan utilizing the relevant external and internal inputs for keeping the plan current;
• Analyzing the risk process performance toward established metrics for driving the risk process improvements;
• Utilizing the risk-related metrics as defined in the risk management plan to create the periodical standard and custom reports for communicating the risk management status and activities;

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

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

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.

Perform Specialized Risk Analyses (14-16%)

• Utilizing the advanced techniques and tools to perform the specialized risk analysis for supporting the stakeholder decision for the project.
• Utilizing the specialized qualitative techniques and advanced quantitative tools to measure the characteristics of recognized risks for estimating overall risk exposure of the project;
• Analyzing the risk data presented during the project utilizing the expert judgment and statistical analyses for defining the weaknesses and strengths of risk strategy & processes, as well as recommending the process changes when indicated;

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