Organizations hire risk managers to reduce the likelihood of negative effects on their businesses. They evaluate several possibilities like natural disasters, operational risks, unethical behavior, financial risks, and many others. Risk managers are deeply valued. If you are interested in developing a career in this field, consider obtaining a professional risk management certification. In this article, you will learn more about risk management and certifications that you can undertake to succeed in the field. 

What is Risk Management?

Businesses assess potential risks in their operations related to strategy, security, money, and legal compliance and create measures to reduce those risks. Without a plan, a company may be unable to deal with an unprecedented risk, resulting in extra expenses, data loss, security breaches, and more. 

Integrated processes are used in risk management to evaluate, detect, minimize, and counteract the effects of potential risks and threats.

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Specialize in Identifying and Assessing Project Risks.

Managing risks is challenging. Risks can cause delays, losses, missed goals, and even project failure if they are not managed. However, when properly managed, they can present possibilities and competitive advantages. A crucial component of all organizational activity is risk management. 

Who Should Apply?

The risk management certification is for project managers, functional managers, risk managers, and C-suite executives.

The risk management certification is a great option if you have advanced knowledge and experience in risk management or are a project manager focusing on project risk management.

Prerequisites

Here are some prerequisites you need for applying for a risk management certification.

  • High school diploma, secondary degree, or any other global equivalent
  • Experience of 36 months in project risk management obtained within the last five years
  • Education in project risk management of 40 hours  

Or

  • A four-year degree - either a bachelor's or any other the global equivalent
  • Experience of 24 months in project risk management obtained within the last five years
  • Education in project risk management of 30 hours

Gain and Maintain Your PMI-RMP

The PMI-RMP contains 115 questions and is offered in Arabic and English in person and online.

You must obtain 30 PDUs in risk management topics every three years to keep your PMI-RMP active.

Exam Fee

For members, the fee is ₹30,120. For non-members, the fee is ₹51,744.

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Risk Management Certifications 

Here are some risk management training and certifications that provide instant validity and recognition upon completion.

PMI-RMP® Certification Training 

This risk management certification training will assist candidates in mastering risk management procedures, a methodical and systematic way to deal with project uncertainty. It will help them learn proper planning, identification, analysis, and management of known and unknown project risks.

PCP in Digital Supply Chain Management

This certification will train candidates in the essential components of digital supply chain management and creating a supply chain that is digitally enabled. Candidates will learn how to use technology to enhance operational effectiveness, risk analysis, and decision-making throughout the supply chain.

PGP Lean Six Sigma

With this certification, applicants will learn the lean six sigma abilities that apply to their industry. With the help of Harvard Business case studies and group capstone projects, candidates will explore essential quality management skills like lean six sigma, agile, and lean management.

Lean Six Sigma Expert

You can learn the principles and techniques of Lean and Six Sigma through this program. Organizations that want to improve continuously look for management experts that can use problem-solving techniques and business skills to improve internal operations. With this master's degree, you will be prepared to lead quality management initiatives.

Lean Management Certification Training Course

This course will teach candidates the fundamentals of lean management to effectively enhance value for customers, identify (and eliminate) ineffective operations, and constantly improve processes by methodically adopting minor changes. They will discover how to apply Lean tools, methods, and metrics in the company.

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Benefits of Earning a Risk Management Certification

Here are a few advantages to earning a risk management certification:

  • Experience Validation

Earning a risk management certification can highlight your practical experience and make you more competent and reliable to potential employers, clients, and colleagues.

  • Career Boost

A risk management certification can prove your suitability for senior risk management positions and may help set your CV apart from other applicants.

  • Salary Increment

Gaining a risk management certification helps expand salary potential and increase job satisfaction. Many businesses now favor applicants with formal risk management certification from an established institution.

  • Reputation Management

Having the appropriate certification can help prospective employers appropriately judge your professional value since qualified risk managers often follow a code of ethics, upskill, and adhere to professional conduct to keep their credentials.

How To Earn Risk Management Certification

The following five stages can help you obtain a risk management certification.

1. Choose a Certification

Always consider your long-term career goals to select the appropriate certification. For example, if you're a junior manager who wants to promote to a senior position, you can think about getting advanced qualifications.

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2. Check the Prerequisites

Examine the exam prerequisites to make sure you are equipped to obtain the risk management certification. You can better plan your career and become certified more quickly if you know the educational, experiential, and other prerequisites needed for the certification.

3. Review Program Details

Consider the duration, structure, and price of the program. For many risk management certificates, candidates can choose online or offline methods to fulfill the criteria. While an exam fee is expected, there can also be extra costs for tuition, course materials, and more.

4. Take the Exam

Most risk management certification programs require you to pass an exam as part of the process. 

An application form is filled out and submitted, along with the necessary paperwork, before sitting for the test. Candidates can register for the exam, pay the money, and take it within the given timeframe after receiving approval. 

Each certification has its respective passing score. You can study difficult subjects, take practice exams, and enroll in online courses to get further assistance as you prepare for exams. Exams are taken both online and in person and may involve a practical component.

5. Maintain your Certification

You can maintain a risk management certification by updating and obtaining continuing education after receiving the certification. You can do this by recertification, which frequently entails completing related education courses, writing a book, or assuming a leadership role in risk management.

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Conclusion

Regardless of the prerequisites for certification, expanding the risk management education can enhance your professional standing, train you with the latest skills, and demonstrate your dedication to the field. Sign-up for a Simplilearn's Post Graduate Program in Project Management. course and give your career the right push! 

About the Author

SimplilearnSimplilearn

Simplilearn is one of the world’s leading providers of online training for Digital Marketing, Cloud Computing, Project Management, Data Science, IT, Software Development, and many other emerging technologies.

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  • Disclaimer
  • PMP, PMI, PMBOK, CAPM, PgMP, PfMP, ACP, PBA, RMP, SP, and OPM3 are registered marks of the Project Management Institute, Inc.
  • *According to Simplilearn survey conducted and subject to terms & conditions with Ernst & Young LLP (EY) as Process Advisors