Professionals in project risk management provide a particular job that is suited to the demands of an increasingly global, dynamic, and complicated project management training environment. The PMI Risk Management Professional (PMI RMP) certification validates a person’s ability to identify and analyze project risks, manage threats, as well as to design risk solutions that reduce project hazards and capitalize on opportunities. In this role, you strengthen and safeguard the demands of your organization. Achieving this accreditation distinguishes you from other specialists and brings credit to your organization. Risk management is practiced often by 83 percent of high-performing project management companies and 49 percent of low-performing businesses.
This certification is for individuals with a project management training or an organizational role in the specialized area of risk management. If you want to demonstrate a deeper level of expertise in risk management techniques, project management training, or program managers then this will be the perfect certification for you. PMI RMP improve your skills in financial planning and analysis practitioners in charge of developing project budgets and contingency plans.
The exam is given at Parametric testing facilities throughout the year, and there is a special application process that must be followed in order to take this exam. It differs from previous tests in that it requires Project Risk Management training as well as expertise in the Risk Management Domains to apply for it. For this certification, you must undergo project management training.
The Risk Management Professional Examination (PMI RMP) eligibility requirements
All project risk management experience must have been gained within the five years before your application. There are several other requirements for this certification which are as follows:
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Education Background
- You must have a secondary degree (high school diploma, associate degree). It should be globally equivalent
OR
- You should have a four-year bachelor’s degree which is globally equivalent
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Project risk management experience
- You must have spent at least 4500 hours in the specialized area of professional project risk management within the last five consecutive years.
OR
- Spent at least 3000 hours in the specialized area of professional project risk management within the last five consecutive years.
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Project risk management education
- You should have 40 contact hours of formal education in the specialized area of project risk management.
OR
- 30 hours in formal education in the specialized area of project risk management.
Procedure for PMI RMP online application
PMI recommends you to apply for all certificates using the online certification system and acquire online project management training. On a case-by-case basis, a printed version of the application is accessible. You can contact customer care to make a request. You cannot cancel an online application once it has been started. You may store it incomplete, save it in the draft and return to it later to update any information you have already input.
The application will be open for 90 days, during which time PMI will send you an email reminding you to complete it. Please provide your legitimate, unique email address in the application, since this will be the primary source of communication with PMI during the certification process.
Although PMI will send you email reminders throughout the process, it is your duty to plan and take your test within the one-year eligibility period. Before submitting the application, you must read and agree to the PMI Code of Ethics and Professional Conduct as well as the Certification Application /Renewal Agreement, all of which may be found on PMI.org. You can also use the online certification system to check your profile and submit certification applications, and view your examination status. You can also download PMI audit forms, receipts, and exam reports with the results. You can also apply and submit payment to take or retake any PMI examination or evaluation. The online system is used for payment for certification renewal. You can use it to update your contact information and see your certification record and examine your certification status on the Certification Registry.
How should you enter your education and work experience on the application?
You should record your experience in the online application’s experience verification section. Regardless of the number of projects you include, you should record each one separately. If you have at least one hour of a chapter meeting spent doing a learning activity, then those hours can be included toward the educational qualifying criterion.
- You should consider all of the projects you’ve worked on and how many hours you spent on project risk management. The number of hours you have specialized in Project Risk Management shows that you worked on numerous projects at the same time, all hours spent on project risk management count toward the total.
- Your project risk management education contact hours are also important. If you have a four-year degree, record a minimum of 30 contact hours of coursework relating to project risk. If you have a high school diploma, an associate’s degree, or the worldwide equivalent, you must have a minimum of 40 contact hours of education in the specialty field of project risk. You can also satisfy the education requirements by demonstrating the successful completion of courses, workshops, and training sessions offered by one or more of the following types of education providers:
- PMI Registered Education Providers
- PMI Chapters
- Employer / Company Sponsored programs
- Training companies or consultants
- Companies that provide distance learning, including an end-of-course evaluation
- Academic and continuing education programs in universities and colleges
What are the PMI RMP certification fees?
Payment fees are decided by your PMI membership status and the kind of examination delivery (computer-based or paper-based) for your geographic area. Check out the points below to calculate the certification fee.
- If you are giving Computer-Based Test (CBT) then the fee for PMI members is $520 and the fee for non-members is $670
- If you are giving Paper-Based Test (PBT) then the fee for the PMI members is $415 and the fee for non-members is $565
- If you are giving a re-examination of CBT, then the fee for the PMI members is $335 and the fee for non-members is $435
- If you are giving a re-examination of PBT, then the fee for the PMI members is $270 and the fee for non-members is $370.
- If you want your CCR certification renewal, then the fee for the PMI members is $60 and the fee for non-members is $150.
What is the refund policy for PMI RMP certification?
If you are seeking a refund for the PMI RMP certification, then you have to apply at least 30 days before the exam eligibility expiry date. If you have not yet scheduled or taken the examination, you will get a US$250 refund. If you fail to fulfill audit standards, you may be eligible for a US$250 refund. These policies are also mentioned in the project management training.
PMI will not issue a refund if your one-year qualifying period has ended and you have not booked the exam. You will be charged the full amount. If you still want to get the certification, you must reapply and pay all associated costs again. You will not be refunded if you scheduled the exam but did not appear for it, or if you did not give the proper cancellation/rescheduling notification to PMI’s testing administration partner, Prometric.
CBT exam rescheduling and cancellation policy
You may postpone or cancel your exam at any time. Late rescheduling and cancellations are now subject to a charge. It is strongly suggestion that you postpone or cancel your exam as soon as you realize you will be unable to attend.
You will have to pay US $70 as plenty, if you reschedule or cancel your exam within 30 days of your booked appointment. The day of the exam will not be count in the 30-day timeframe. To avoid the cost, for example, if you scheduled your test for May 5th, you must reschedule or cancel the exam by April 4th.
The exceptional circumstance policy may apply in emergency cases if you are unable to alter your exam appointment within 30 days of your exam date. However, PMI will assess each circumstance on an individual basis to decide if a refund of the rescheduling charge is reasonable. But in case, if you wait until you are two days before your exam, you will be able to cancel your appointment and forfeit the whole exam money. You will be unable to reschedule your appointment at this time and you will be have to pay re-examination fees in order to book a new exam.
PBT exam rescheduling and cancellation policy
You must contact pbtexams@pmi.org no later than 35 calendar days before the scheduled examination administration date to postpone or cancel the Paper-Based Test (PBT) exam appointment. You have to provide your name, PMI identification number, group ID number, and the location of the PBT event in your email. You can get the group ID number from the Prometric Website or the PBT sponsor.
What are extenuating circumstances:
PMI recognizes that there may be situations when personal emergencies force you to miss a scheduled exam appointment resulting in a no-show status or rescheduling or canceling your exam. These situations are extenuating circumstances. In these situations, you can cancel or reschedule your exam within 30 days of the appointment. Extenuating circumstances do not include work-related circumstances. Extenuating circumstances can include:
- Medical emergency
- Military deployment
- Death in the immediate family
- Illness in the immediate family
- Natural disaster
If your situation requires you to reschedule or cancel your exam within 30 days of the scheduled date. So when you realize that you will be unable to make your planned appointment, go online to the Prometric website and reschedule or cancel your exam. You will have to pay a fee of $70 USD. However, if permitted by PMI, you can contact PMI customer service with an explanation and accompanying papers to seek a refund on rescheduling and cancellation costs.
If your circumstances cause you to miss your planned exam appointment which results in a no-show status, then you have to notify the PMI customer service within 72 hours. If you get the permission by PMI, you will get a chance to offer a reason as well as supporting evidence (e.g., accident report, medical paperwork, etc.) in order to postpone or cancel your test without penalty.
PMI will evaluate each situation claim on an individual basis. If your extenuating circumstance claim is denied, then you have to pay the full re-examination fee in order to appear for the exam.
Let’s talk about the common mistakes by the PMI RMP candidates
In the exam, you should understand and respond to the question from your project risk management experience. You must first consider the Practice Standard for Project Risk Management and the PMBOK guide, and if you are unable to answer, you must rely on your real-world experience. The reason for this is that whatever you are doing in your business may not always be proper, therefore use the PMI technique first.
Every year, a lot of candidates plan for this exam but never finish it. Several times, reschedule the exam date. Try not to postpone the test unless it is really necessary due to an emergency. Keep the exam date. You will not be able to fully follow your study plan if you do not adhere to a deadline.
Most applicants want this certification but are unwilling or unable to invest in all of the materials needed to adequately study for the test. The materials need for the study for the test vary depending on the individual, but everything you wish must be get employment to get success in this exam. Not allocating enough time to study for the exam and inconsistency in sticking to your strategy are the big mistakes applicants make. It is tough to pass this exam if you do not have a strategy in place.
You can practice a large number of objective questions from various PMI RMP online courses for Project Risk Management. Do not use practice Standard for Project Risk Management, and PMBOK guide without understanding the principles. The ideal technique is to first learn the topics and then practice a large number of objective problems.