5 Things You Should Know About the PMI-RMP®

Every project has risks—events or conditions that, if they occur, have positive or negative effects on a project’s objectives.  And project managers are risk managers, some better than others. If you want to improve your project success through better risk management, consider getting certified as a Risk Management Professional. Here are some things you should know about the PMI-RMP.

picture of someone taking an PMI-RMP® exam on a computer

 

1. What is the PMI-RMP®?

The PMI Risk Management Professional (PMI-RMP) is a designation offered by the Project Management Institute (PMI). This credential is for project management professionals who wish to demonstrate specialized knowledge and skills in project risk management.

2. Why should someone consider becoming a PMI-RMP®?

There are several reasons you might pursue this credential. First, you may simply want to improve your ability to identify, evaluate, respond to, and control risks. These skills can translate into greater project success.

Second, if you wish to perform a specialized risk management function for organizations, programs, and projects. The PMI-RMP certification process greatly enhanced my knowledge and skills and prepared me to better serve as the Director of Enterprise Risk Management for a large property and casualty insurance company.

Third, if you desire to complement your Project Management Professional (PMP) credential with another credential, you may choose the PMI-RMP. Think about it—you’ve already studied many of the knowledge areas that you would see on the PMI-RMP exam. Why not take advantage of what you know to gain further distinction and enhance your career?

Fourth, becoming a PMI-RMP may open up new career opportunities.

3. What is the PMI-RMP® exam like?

The certification exam has 170 multiple-choice questions and you have 3.5 hours to complete it. Like all PMI exams, the exam is challenging. It was not as difficult as the PMP exam for me.

4. How should I prepare to take the PMI-RMP® exam?

There are several options for preparation including:

  • On-Demand Courses
  • Classroom Training
  • Bootcamps
  • Study Groups
  • Books
  • Flashcards

I am not a fan of crash courses. Individuals who cram information for the sole purpose of passing the exam often fail to retain and use their newly found knowledge.

Whatever methods you use, I encourage you to develop a study plan where you:

  • Skim the materials before reading
  • Read and study the materials
  • Review the concepts
  • Recite the concepts to others if possible

Follow this plan and read your materials at least twice.

Make your study time a priority. Develop a schedule for each week. What gets scheduled gets done!

5. What study materials do I need?

There are several excellent PMI-RMP Exam Prep Books. Here are some books that I recommend:

  • Practice Standard for Project Risk Management
  • PMI Project Management Body of Knowledge
  • Risk Management Tricks of the Trade by Rita Mulcahy
  • Passing the Risk Management Professional Certification Exam the First Time! By Daniel Yeomans
  • PMI-RMP Exam Prep Study Guide by Belinda Fremouw

At a minimum, I suggest that you get a copy of the Practice Standard and the PMBOK.

Question: What other questions do you have?

PMI-RMP Exam Guide

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