The Risk Management Professional- or PMI-RMP®- is a well-known certification offered by the Project Management Institute. PMI-RMP® Certification is for professionals. It is renowned worldwide, in many ways, the ultimate stamp of approval for an individual’s risk management skills on the global market, and significantly improves job opportunities. PMI-RMP® course Certification opens up a huge vista of understanding for a professional and goes a long way toward boosting their confidence.
In other words, this certification is the recognition and validation of a professional’s efficiency and competency in understanding, identifying, and applying strategies to control risk. It involves both theoretical understanding and practical knowledge.
Another key reason for its growing popularity and global recognition is that its applicability is not confined to a single sector. In this article we will cover the following topics that will help you take a step closer to becoming a PMI-RMP certified:
- The accreditation body for PMI-RMP® certification
- Eligibility for the PMI-RMP® certification
- Process to get PMI-RMP® certification
- Choosing the right training partner PMI-RMP® course
- More about PMI-RMP® course
- PMI-RMP® certification examination structure
- What if you fail to pass the PMI-RMP® certification exam in one go?
- Career growth and roles post PMI-RMP® certification
- Post-examination requirement for PMI-RMP® certification
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The Accreditation Body for PMI-RMP® Certification
The accreditation body for the PMI-RMP® course Certification is the Project Management Institute of the United States. Among the leading not-for-profit professional associations, the PMI® was founded in 1969. On average, it awards certifications to close to 3 million professionals every year, globally.
The PMI® is known to further careers, improve efficiency, and boost overall success rates for organizations and individuals alike through its internationally recognized certifications, standards, publications, academic research, and professional development courses.
Eligibility For The PMI-RMP® Certification
Any individual or professional who is already practicing risk management and who are looking to build a strong foundation in risk management can opt for this certification. Professionals who work as risk managers, project managers, and line managers are some of the best bets for this certification.
The Eligibility Criteria for the PMI-RMP® Certification include:
- A secondary degree or a high school diploma or its global equivalent
- 4,500 hours of experience in project risk management within the last consecutive 5 years
- Project risk management education spanning 40 hours
- A 4-year degree or its international equivalent
- 3,000 hours of experience in project risk management within the last consecutive 5 years.
- 30 hours of project risk management education.
Primarily, the eligibility criteria are fashioned in a way that identifies standout performers on project teams with sharp skills that showcase expertise in handling risk management issues.
For more details on the process and eligibility requirements, refer to the PMI-RMP® Handbook for further information.
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Process To Get PMI-RMP® Certification
To acquire the PMI-RMP® Certification, interested candidates who are eligible first need to fill the application form online, available at PMI®'s website. Once you apply, the Project Management Institute will take five working days to respond after reviewing the application. If the application is not selected for auditing, you will be notified to pay the examination fee.
If the application is selected for auditing, the candidate would need to submit the requested information, such as a copy of the education-certificate, signed risk management experience forms, and the PDU certification. PDU means a Professional Development Unit, which signifies the level of experience. This process needs to be completed within 90 days. PMI® generally takes about 5 to 7 working days to respond. Once your application is accepted, you may pay the examination fee.
After the payment of the credential, the fee is accepted by PMI® the application procedure can be said to be complete, and the candidate may prepare for the examination. Once a candidate is deemed eligible for the exam, they usually get an email notification with the following information:
• The candidate’s Unique PMI® Eligibility ID
• The period for which the candidate will be eligible to take the exam
• Instructions on the exam schedule
The exam takes place at designated centers, and the names of candidates who passed the test are displayed on the PMI® website within a few days.
For further details and clarifications, you can always refer to the PMI® handbook.
Choosing The Right Training Partner PMI-RMP® Course
Now for the age-old question: who should an aspiring candidate train with to make the most of the PMI-RMP® course schedule?
Simplilearn's online PMI-RMP® course module emerges as a top contender. It allows professionals to access the content designed for the course at their convenience to help prepare for the certification exam better. The training module involves interactive media like audio-video chapters, quizzes, and practice tests.
Among the most trusted and experienced certification training providers, Simplilearn has trained over 400,000 aspirants internationally across a wide cross-section of countries. It’s no wonder, then, that they have won the trust of Fortune 500 companies as a medium to provide quality training with the help of 2000+ experienced trainers.
Following a tried and tested methodology, the course is designed in a way that assures a pass rate of 98.6% in the first attempt. Simplilearn has also won the approval, accreditation, and recognition of many global academic organizations like the IIBA, Project Management Institute, CFA Institute, and others.
Is PMI-RMP® Course Enough?
The PMI-RMP® course Certification that Simplilearn offers give candidates the unique advantage of a 90-day access pass to the online course. The course duration of e-learning content spans 13 hours and comes with chapter-end quizzes, and 40 PDUs on completion of the course.
The online simulation exams, coupled with videos, tips, and tricks, make this training module very effective. The study matter draws inspiration from real-life examples, incidents, & approaches, and caters to the individual needs of students appropriately. They enable the aspirants to prepare with a step-by-step approach using situational examples for better comprehension of the PMI-RMP® course material. Feel free to drop in and take a look around on our course page, here: Simplilearn's PMI-RMP® course Certification.
PMI-RMP® Certification Examination Structure
The main features of the exam question paper are as follows:
- Multiple-choice questions
- Candidates have to answer 170 questions in all
- 20 of the 170 are considered to be pre-test questions
- The pre-test questions do not impact final scores
- 150 questions are scored, in all
- RMP® follows computer-based testing
- A paper-based testing option is available for select cases
- Candidates get a total of three and a half hours to complete the questions
There are no scheduled breaks during the exam, but candidates can take a break if they choose to. There are tutorials, and a survey preceding the exam and are optional.
For more details, you may refer to the handbook, available in PMI-RMP® handbook.
The fee for the PMI-RMP® Certification exam is dependent upon the nature of the exam opted. Members need to pay $520, and non-members $670 for computer-based testing. The rate for paper-based testing is $415 for members and $565 for non-members. PMI® will make a refund of $250 if you are unable to appear for the exam.
Candidates who appeared for the computer-based examination get a printed copy of test results. Along with the pass/fail status, PMI® also furnishes candidates with crucial diagnostic details outlining performance in every domain.
What If You Fail To Pass PMI-RMP® Certification Exam In One Go?
Candidates can take the re-examination within the one-year eligibility period, up to a maximum of three times. This special provision is made in the case of the PMI-RMP® Certification because it is observed that candidates do not always pass the exam in one go. Re-examination fee for the CBT is $335 for members and $435 for non-members. For the PBT, PMI® charges $270 for members and $370 for non-members.
Aspirants must bear in mind that these reexamination fees are applicable even for the second and third attempts to pass the examination. In case a candidate fails to pass the exam all the three times in the one year following the first sitting. They would need to wait at least one year from the date they appeared for the exam third time to reapply for credentials.
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Career Growth And Roles Post PMI-RMP® Certification
One of the significant advantages of this PMI-RMP® Certification is that it acknowledges an individual’s expertise on a project team. It highlights the value and recognition due to efficient project management professional.
Individuals develop competence in dealing with project management risks, alleviating threats, and optimizing opportunities. They form the knowhow to maintain a basic competence across a broad cross-section of Project Management domains.
Employers look for this certification as well, since this allows them to place their trust in a credential-holder and take for granted the basic set of skills, knowledge, and experience they would possess. This credential also arms professionals with the techniques necessary to address organizational needs.
Post-Examination Requirement for PMI-RMP® Certification
After having received the PMI-RMP® credential, candidates need to participate in the Continuing Certification Requirements program to maintain their active certification status.
The PMI-RMP® Certification cycle expires after three years, and professionals need to attain 30 professional development units (PDUs) to maintain the credential. A new 3-year cycle begins after completing one. Thus, it is an ongoing process aimed at continuous knowledge enhancement.
Candidates must, however, remember that these PDU activities for the PMI-RMP® Certification must be related to Risk Management. It needs to be consistent with the specific knowledge area that is outlined in the primary plan. For further details, candidates may refer to the PMI-RMP® handbook.
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RMP® and PMBOK are registered trademarks of the Project Management Institute, Inc.