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The potential candidates should know what to expect from the test before they start their preparation phase. That is why they have to observe all the topics of the PMI-RMP exam. All in all, the domains of this certification test are highlighted as follows:

Risk Planning and Strategy (19-20%)

• Producing the risk management plan for the project based on data, such as industry policies and procedures, project information, stakeholder data, and external factors to determine, fund, and staff practical risk management processes for the project that adjust with different project plans;
• Developing the risk assessment tools & processes that measure risk tolerances of a stakeholder to estimate and define the risk minimum for the project as well as determine the standards for risk levels;
• Establishing the evaluation standards for the risk management processes according to the project objectives and baselines to measure the capability of the project risk process.
• Developing and recommending the project risk strategy according to the project objectives to set the sketch for the risk management plan;
• Updating the risk procedures and policies utilizing information to improve the risk management effectiveness;

Major Topics to Explore

The PMI-RMP certification exam contains five major domains to be covered. The candidates should develop a solid understanding of these topics before attempting the test. Let’s take a look at these exam objectives.

• Risk Strategy & Planning (19-20%)

  The tasks covered in this domain include evaluating risk and setting criteria for risk levels while assessing the tolerance of risk among the stakeholders. It also covers updating risk policies in the project; developing and recommending the appropriate risk strategies; providing a risk management plan; establishing criteria for the risk management process for the project.

• Risk Monitoring & Reporting (19-20%)

  The fourth topic that the PMI-RMP exam deals with covers five tasks. This teaches you how to keep track of the risk management processes in a project by keeping an updated record of all the risk incidences and their responses. It also highlights how to work with a project manager through proper communication, monitoring the response metrics, and analyzing the performance of the proposed risk responses. The domain also covers how to keep the risk management plan updated during a project and how to capture and use lessons learned in risk management in the project.

• Performing Specialized Risk Analysis (14-16%)

  The fifth objective focuses on performing specialized risk analyses, which cover the ability to execute the following tasks: monitoring different factors of risks within the project, analyzing the data collected, using the appropriate tools to assist in the stakeholder decision-making processes in regards to risk management.

• Risk Process Facilitation (25-28%)

  The third section of the PMI-RMP certification exam teaches the test takers how to use the risk assessment processes by studying risk tolerance and coming up with projected risk levels. It also covers competency in identifying risks, evaluating identified risks, developing a workable response procedure, as well as creating a contingency reserve according to the risk exposure identified in the project. This area also covers the utilization of data to budget for risk management and utilization of staged scenarios to evaluate the appropriateness of responses.

• Stakeholder Engagement (19-20%)

  The second subject area measures the students’ understanding of risk management among the team members as well as their skills in training & coaching the stakeholders on important risk management processes and delivering training for the team members on how to apply risk management processes during the project. It also equips the applicants with the skills required to assess the stakeholder risk tolerance rates as well as identify any attitudes and biases to risks among the stakeholders and keep them enlightened on the prioritization of risks. The domain also provides the examinees with the knowledge of the recommendations they can give to the stakeholders on how to plan and strategize for risks, how they can communicate with the rest of the team, and how to keep the team members involved in the project through efficient communication.

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

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.