Risks are a part of project development and, if not managed in time, can pose a threat to an organization and lead to project failure. Hence risk management is a crucial part of all organizational activities, and PMI-RMP certification is a recognition badge for your risk management skills.
However, candidates are often left with various unanswered questions that prevent them from taking the exam.
Here you will find answers to PMI-RMP frequently asked questions and help you move ahead to apply for the exam.
Q. What is the PMI-RMP?
A. The PMI Risk Management Professional (PMI-RMP)® is one of the eight PMI certifications. It helps you portray your knowledge and skills related to risk management planning, risk identification, risk evaluation, developing and implementing risk responses, and monitoring risks.
Q. What value does the PMI-RMP certification hold?
A. There are many reasons you, as a project manager, can benefit from this certification. A few of them are:
- More job opportunities
- Better professional profile
- Higher salary package
- Increased domain-related knowledge and skills
- A better understanding of project handling
- The increased project success ratio
- In-depth understanding of risk management
- Increase your ability to maximize output within deadlines
- Making best use of available resources
Q. What is the PMI-RMP Exam Content Outline?
A. The PMI-RMP Exam Content Outline and Specifications (2022) list the details of the domains that you need to master for the exam, application process, eligibility criteria, examination fees, and other information related to the exam.
Q. What is PMI Certifications Handbook?
A. Before preparing for the PMI-RMP exam, grab a copy of the PMI certifications handbook. It includes:
- PMI’s certification program details
- How to apply for the exams
- The payment process for the exam fees
- PMI audit process
- Exam & certification policies and procedures
- Certification maintenance requirements program
- PMI Code of ethics & professional conduct
- PMI certification application and renewal process
Q. Which PMBOK edition is best suited for PMI-RMP exam preparation?
A. PMBOK Guide 7th edition is recommended. PMI members can download it from their official website inside the member’s area.
Q. Which edition of the Practice Standard should I use?
A. PMI is currently the standard for risk management in portfolios, programs, and projects.
Q. Can the PMI-RMP exam be taken online?
A. Yes. You can now take the PMI-RMP exam online under the supervision of a live proctor. The test is similar to the one conducted at the testing center.
Q. Who can apply for this PMI-RMP exam?
A. If you work as a functional manager, risk manager, project manager, or C-suite executive, you must try to get certified. Also, if you have extensive experience in project risk management and have handled complex projects, then it is the best certification for you.
Q. What is the best study material for the PMI-RMP exam?
A. It is recommended to refer to the PMBOK Guide, 7th edition, and practice standard for risk management in portfolios, programs, and projects. Along with these, you can also enroll in training programs for exam preparations.
Q. How to apply for the PMI-RMP exam?
A. The application process for all the eight certifications by PMI has been simplified since June 2020. The number of screens is reduced from 30 to 4. You now do not have to enter experience in hours domain-wise, and you only have to enter experience details in months.
Q. Are there any prerequisites for this exam?
A. Yes. You have to fulfill specific criteria to be eligible to appear for this exam.
**Eligibility #1: **
- A secondary degree like a high school diploma, associate’s degree, or the global equivalent.
- Project risk management experience of 36 months within the last 5 years.
- Project risk management education of 40 hours.
Eligibility #2:
- A four-year degree like a bachelor’s degree or the global equivalent.
- Project risk management experience of 24 months within the last 5 years.
- Project risk management education of 30 hours.
Q. Are there exam fee discounts available?
A. There are discounts available for PMI members. The exam fee for members is USD 520 and for non-members is USD 670.
Q. When can the exam be scheduled?
A. You can schedule your exam upon receiving payment confirmation from the PMI.
Q. What is the exam retake policy?
A. Once you apply for the exam, you are eligible for one year and can make 3 attempts.
Q. How long is the application review process?
A. Your application is reviewed within 5 days of submitting it.
Q. PMI-RMP credential is valid for how long?
A. Your certification remains valid for three years. However, you have to fulfill certification maintenance criteria to apply for recertification.
Q. What is exam duration?
A. The PMI-RMP certification exam has 170 questions to be completed within 3.5 hours.
Q. Is the PMI-RMP exam challenging?
A. All the globally-recognized certifications are challenging to pass. Also, the difficulty level varies from person to person, and it depends on your experience and preparation level.
The Final Words
These are the major PMI-RMP frequently asked questions. However, PMI-RMP is best for professionals with vast project risk management experience. If you have project management knowledge, you can also earn this credential to boost your career prospects. Hence, if you plan to take the PMI-RMP certification exam, it is recommended to clear the PMP exam first.
Read also: PMP Online Proctored Exam FAQs
