Home Education How to Prepare For the Risk Management (PMI-RMP) Certification Exam.

How to Prepare For the Risk Management (PMI-RMP) Certification Exam.

How to Prepare For the Risk Management (PMI-RMP) Certification Exam.

Project management refers to the application of processes, skills, methods, knowledge and experience to achieve the desired project goals according to the given parameters. It is sometimes done by an individual or a group of members certainly called as a team. For the success of any project, it is very important to have project management in it, as project management ensures that the project has gone through each important step and is done with all the resources and within the given budget.

Important tips on how to prepare and pass the Risk Management PMI-RMP Certification exam :

The PMI-RMP certification stands for Project management institute risk management training. This Certification has its main focus on project risk managers. This certification will act as a proof for the project managers that they have the desired skill and can easily apply all the principles and tools of risk management in their project. For better preparation for this certification, you will have to study Chapter 11 of a book named ” A Guide to the Project Management Body of Knowledge (PMBOK). Chapter 11 has a very briefly discussed content which will make it easier for you to understand. You can also visit other sources to prepare for your exam as per your convenience. The following are the main tips which are very necessary for you to know in order to pass the PMI-RMP exam. The very first step is to know about all the five domains of risk management.

The structure of the examination 

There is all total of 170 questions in the exam. The exam is a plate among five domains of risk management of PMI, and those five domains are

1. Risk strategy and planning – this portion covers 19 to 20% in the exam. This portion is concerned with task and processes for selecting and developing risk management procedure and tools which produces the risk management plan and also sets procedures for evaluating risk and updating the risk management plan.

2. Stakeholder engagement – this portion covers 19 to 20% of the exam. And this portion is concerned with activities related to getting stakeholders and project team members on broad with risk management training. This will enable the individual to get more familiar with less communication procedure enterprise environmental factors and organisational process assets which are very important for a project manager.

3. Risk process facilitation – this portion covers 25 to 28 % of the exam. This portion is concerned with activities related to executing the risk management strategies. This enables an individual to get more familiar with qualitative and quantitative risk analysis tool and techniques.

4. Risk monitoring and reporting – this portion covers 19 to 20% of the exam. This poshan is concerned with activities related to evaluating risk response against data which is generated and updating the stakeholders and the project team on risk.

5. Perform specialised risk analysis – dispersion covers 14 to 16 % of the exam. This portion is concerned with activities related to advanced risk identification, analysis and tools and techniques.

The next TET is to be familiar with both quantitative and qualitative risk techniques. Under Quantitative risk techniques, you will study about the sensitivity analysis, expected monetary value and Monte Carlo simulation. And under qualitative risk techniques, you will study the probability impact analysis and scenario planning. The next step is to start with the PMBOK guide book but be prepared to move beyond it too. Chapter 11 of PMBOK deals with project risk management and is a very good resource for each of the items that will come in your exam. But to be very specific only reading chapter 11 won’t help you to solve the paper and entirely you will have to understand and be very familiar with all of the processes, inputs, tools, technique and outputs of risk management.

The next and very important step is to apply the test-taking approach of taking the exam and rounds. This means that firstly you should identify and answer the questions with which you are the most confident and marked the rest for review. For each question take around 1 or 2 minutes at best, don’t be stuck at one question for a long time. After you have done all the questions you know, review all the remaining questions and try to answer all of them. In this way, it will be easier for you to pass the exam.

 These are the important tips which will guide you to study and prepare for your PMI-RMP certification exam. All the Aspiring candidates should go through all these points and apply it very sincerely in order to pass the exam. 

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