Preparing for the PMI Risk Management Professional (PMI-RMP)^® Exam

What is this course about?

In this course, you prepare for the PMI Risk Management Professional (PMI-RMP)^® exam. Through identifying and measuring risks in project development and implementation you learn to quatify risks and create risk response strategies to deliver projects that meet stakeholder expectations. You learn how to apply customizable, industry-robust templates to create a Risk Management Plan and Risk Register. You also have access to tools and templates for use back at your office.

How is this course structured?

This course is structured around a dynamic style of learning created by Learning Tree called RealityPlus^TM - an immersive experience that engages you in authentic tasks within a simulated real-world context. Through media-rich case studies, role playing, and video/computer-based activities, you are immersed throughout the course in an evolving scenario where the decisions you make affect the outcome of the simulation. The RealityPlus learning method is presented in a safe environment where you gain new skills and practice the most effective techniques to bring back to your job. At the end of your course, you are prepared to immediately and successfully apply these new skills within your organization!

Who will benefit from this course?

This course is valuable for anyone who plans to take the PMI-RMP^® exam and those involved in or those who may become involved in project risk analysis. Specifically, this course is beneficial to all stakeholders in a wide variety of projects, both large and small. Anyone who has an interest in controlling adverse impacts to the project or finding new opportunities to pursue will also benefit from this course. Typical participants include managers who must justify a decision to proceed, modify, or cancel a project, project leaders and project team members, line managers, analysts and system designers.

Do I need a background in project management to attend this course?

While the basic concepts of project management are covered briefly during the course introduction, project management experience is an asset. Experience at the level of Course 296: Project Management: Skills for Success, or Course 340: Project Management for Software Development is recommended. Some familiarity with mathematical probability is helpful.

How does project risk management differ from project management?

Risk management is a subsidiary of project management. Effective risk management assists in planning for successful projects and making intelligent decisions when change is necessary.

Why do I need this course?

Many projects are delivered behind schedule and over budget because the project stakeholders are unable to discover when the project has moved from its target. In this course you learn to identify future events that may impede your project so that you can take corrective action before disaster strikes. Once you determine your alternatives, you can steer the project to successful completion. In fact, perceived risks often turn out to be hidden opportunities when managed correctly. This is one of the major benefits of project risk management often overlooked by those who don't practice it.

What specific skills will I learn in this class?

You learn tools and techniques that assist with qualitative and quantitative identification and response to risks. The interactive group exercises teach you to apply the project management processes during a case study project that builds throughout the course. You learn to write and invoke a Risk Register to control your project.

What are the eligibility criteria for taking the PMI-RMP^® exam?

The PMI-RMP eligibility criteria, as established by the Project Management Institute, are divided into two categories:

Category 1 maintains the candidate hold a four-year degree (bachelor's or the global equivalent), with at least 3,000 hours of project risk management experience and 30 hours of project risk management education.

Category 2 maintains the candidate hold a minimum of a secondary diploma (high school or the global equivalent), with at least 4,500 hours of project risk management experience and 40 hours of project risk management education.

It's been a long time since I studied math. Will I be lost in this class?

No! The math that is taught in the class is presented so that anyone will be comfortable with it. There are several light-hearted "statistical interludes" to ease the path for the non-mathematical. We take you step-by-step through the examples so that you can return to your project and immediately apply the knowledge.

How much time is spent on each topic?

What kinds of activities are covered in the hands-on training?

Approximately 65 percent of this course is spent in immersive activities. You participate in a comprehensive case study to simulate a project risk experience from planning to project close. You perform risk management tasks, including:

• Creating your RMP from a proven model
• Developing and updating a Risk Register through a systematic incremental process
• Applying a 7-step qualitative risk analysis process to determine probability, impact and exposure
• Quantifying risks according to EMV, Utility and impact on estimates
• Designing a risk response strategy
• Detect and respond to risk events using EVA
• Justifying budget and time contingencies
• Updating your risk database and determining process improvements

I'm not comfortable taking risks. What impact will this have on the success of my project?

You assume risks throughout your daily activities. When you drive to work, you assume a calculated risk that you will arrive safely. When you eat in a restaurant, you assume a risk that the food has been safely prepared. The key is that you control these risks by driving defensively or choosing a clean restaurant. The same is true with your projects. By controlling exposure to risk, you increase the probability that your project will come to successful completion.

What happens if I don't pass the exam?

If for any reason you do not pass your PMI-RMP Exam after completing our course, Preparing for the PMI-Risk Management Professional (PMI-RMP)^® Exam, contact us within 60 days of your original course attendance to schedule a free course retake.

Is this course applicable to a Project Management Professional (PMP) certification?

Yes. Although this course is designed as preparation for the PMI-RMP exam, it is beneficial to anyone working toward PMI's PMP certification or those who are currently certified. Completion of this course counts as 23 professional development units (60 units must be completed every three years to maintain PMP certification). For more details, please see the Learning Tree PMI Registered Education Provider Q&A.

If you are an experienced project manager intending to take the PMP exam, you should take Course 276: Preparing for the Project Management Professional (PMP)^® Exam. In this course you learn essential PMBOK^® Guide terminology, tools and techniques. You gain practical test-taking experience through PMI-style practice exams and create your own personal study plan for continued use after the course.

How does this course relate to other Learning Tree courses?

Other courses in the Project Management curriculum that may be of interest include:

• 296: Project Management: Skills for Success teaches principles and best practice of running a broad range of projects.
• 340: Project Management for Software Development focuses on the unique aspects of software development projects.
• 287: Complex Project Management builds on the techniques required for the successful management of complex projects.
• 299: Microsoft® Project 2007: A Comprehensive Hands-On Introduction provides experience using Microsoft Project 2003 to plan project tasks, activities and make use of resources.
• 3620: Managing Global Projects , provides the knowledge to facilitate effective cross-cultural communication and create an efficient structure to achieve global project success

Other management courses that may be of interest include:

• 290: Management Skills 
• 294: Influence Skills: Getting Results without Direct Authority 
• 289: Disaster Recovery Planning: Ensuring Business Continuity 
• 288: Achieving APMG Change Management Practitioner Certification 

US Dates