997 Customer Reviews Preparation Process
Unfortunately, the PMI does not provide the applicants with any training courses, but we ensure that you can find useful tips, which help you prepare for the PMI-RMP exam. All in all, it is recommended to do the following:
- Study the Practice Standard for Project Risk Management;
- Look through the Exam Content Outline;
- Observe the latest edition of ‘A Guide to the Project Management Body of Knowledge’.
- Download and review the PMI-RMP Handbook;
- Take up a formal study course offered by the accredited Authorized Training Partners or PMI chapters;
All the links for these materials can be found on the official website.
Besides that, the potential candidates can use the other prep resources, such as practice tests, tutorials, videos, and books, which give them all the required knowledge and skills for the PMI-RMP exam.
What is the duration of the PMI-RMP Exam
- Length of Examination: 3.5 hours
- Format: Multiple choices, multiple answers
- Number of Questions: 170
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Bright future
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Risk Monitoring and Reporting (19-20%)
- Analyzing the risk process performance toward established metrics for driving the risk process improvements;
- 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;
- 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;
- Coordinating with project manager utilizing communication techniques for integrating the risk management during the project;
- 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.
- Updating the project risk management plan utilizing the relevant external and internal inputs for keeping the plan current;
- 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;
Reference: https://www.pmi.org/certifications/risk-management-rmp
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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%)
- 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.
- Updating the risk procedures and policies utilizing information to improve the risk management effectiveness;
- 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 and recommending the project risk strategy according to the project objectives to set the sketch for the risk management plan;
Early trial
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PMI PMI-RMP Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Risk Monitoring and Reporting | 19-20% | - Review risk audit results - Report risk management performance - Track risk metrics and triggers - Capture lessons learned regarding risks - Evaluate risk response execution - Update risk register and documentation - Monitor identified and emerging risks |
| Risk Process Facilitation | 25-28% | - Evaluate risk response effectiveness - Plan risk responses - Implement risk responses - Perform quantitative risk analysis - Identify risks using various techniques - Perform qualitative risk analysis - Manage contingency reserves |
| Risk Strategy and Planning | 19-20% | - Plan risk management activities - Integrate risk management into project lifecycle - Define risk thresholds and metrics - Develop risk management strategy - Establish risk management policies and procedures |
| Stakeholder Engagement | 19-20% | - Manage stakeholder expectations regarding risks - Collaborate with cross-functional teams - Involve stakeholders in risk management process - Communicate risk information effectively - Facilitate risk workshops and meetings - Build consensus on risk response strategies - Negotiate risk ownership and accountability - Promote risk awareness and understanding - Identify stakeholders and their risk tolerance |
| Perform Specialized Risk Analyses | 14-16% | - Perform advanced quantitative analysis (e.g., Monte Carlo, decision trees) - Analyze complex risk scenarios and dependencies - Conduct specialized risk assessments (e.g., regulatory, compliance) |
PMI Risk Management Professional Sample Questions:
A project is established to expand the marketing of a product line into other countries. Five markets have been identified where the product is expected to perform well. The project is 10 weeks from launch, and the risk manager is holding a risk-management meeting. During the meeting, one team member identifies a strict packaging requirement in one country, while another team member reports rumors of a possible exchange-rate shift in another country.
What should the risk manager do?
- A. Record the packaging requirement as a constraint and classify the possible exchange-rate shift as an assumption.
- B. Record the packaging requirement in the issue log and classify the possible exchange-rate shift as a business risk.
- C. Record the packaging requirement in the risk register and classify the possible exchange-rate shift as an issue.
- D. Record the packaging requirement as a constraint and classify the possible exchange-rate shift as a volatility risk.
Correct Answer: D 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
A project lihat was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up. the project manager is developing the risk planning for the project.
What three artifacts should the project manager consult or review during this process? (Choose three.)
- A. Code of regulations
- B. Project contracts
- C. Risk register
- D. Lessons learned registers from analogous projects
- E. Risk management plan
Correct Answer: B,D,E 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities, and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats.
What should the risk manager do next?
- A. Update the risk register with the identified risks
- B. Plan risk responses to the threats
- C. Add only the threats to the risk register
- D. Utilize different tools to identify the risks
Correct Answer: A 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
A risk manager has noticed that response actions are not working as expected when a risk occurs, mainly because the risk triggers are not well-defined. Which tool should the risk manager use to facilitate risk trigger identification in the upcoming risk review assessment?
- A. Affinity diagram
- B. Risk breakdown structure (RBS)
- C. Risk burndown chart
- D. Ishikawa diagram
Correct Answer: B 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
A project has consistently been lagging in cost performance index (CPI) and schedule performance index (SPI) over the past few months. The risk manager realizes that some activities are taking longer than expected and more resources are needed.
Which project artifact should the risk manager analyze to mitigate the risk of further project overrun?
- A. Work breakdown structure (WBS)
- B. Schedule and resource assumptions
- C. Contingency reserves
- D. Risk impact matrix
Correct Answer: B 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
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Maria -
PrepAway test yesterday! had some really confused moments as i was not able to remember correct answers but finally managed to do it. it was wonderful doing with all that stuff.