Risk Management

Professional
(RMP)®

Eng. Mohamed Raslan

PMP®, PgMP®, PMI-ACP®, PMI-RMP®, P3O®, TQM
 PMI
Certification
Program

PMI offers a comprehensive certification program for practitioners with different levels of
education and experience. The certifications are developed and maintained through a vigorous
process

Certified Associate in Project Management (CAPM)® Certification.

PMI Agile Certified Partitionner (PMl-ACP)® Certification.

PMI Risk Management Professional (PMl-RMP)® Certification.

PMI Scheduling Professional (PMl-SP)® Certification.

Portfolio Management Professional (PfMP)® Certification.

Project Management Professional (PMP)® Certification.

PMI Professional in Business Analysis (PMl-PBA)® Certification.

Program Management Professional (PgMP)® Certification.

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3
 RMP
Certification

The PMI-Risk Management Professional With your advanced skills in risk

(PMI-RMP)® highlights your ability to identify management, you perform a
and assess project risks, mitigate threats and specialized function attuned to the
capitalize on opportunities. In this capacity, needs of a project environment that is
you enhance and protect the needs of your increasingly global, virtual, and
organization. complex.

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 RMP Certification Eligibility Requirements

Project Risk Management Project Risk Management

Educational Background
Experience Education
Secondary diploma (high school At least 36 months spent in the 40 contact hours of formal
diploma, associate’s degree or specialized area of professional education in the specialized area of
global equivalent) project risk management within the project risk management
last five consecutive years

OR
Project Risk Management Project Risk Management
Educational Background
Experience Education
Four-year degree (bachelor’s At least 24 months spent in the 30 contact hours of formal
degree or global equivalent) specialized area of professional education in the specialized area of
project risk management within the project risk management
last five consecutive years

OR
Project Risk Management Project Risk Management
Educational Background
Experience Education
Post-graduate degree from a GAC At least 12 months spent in the 30 contact hours of formal
accredited program (bachelor’s or specialized area of professional education in the specialized area of
master’s degree or global project risk management within the project risk management
equivalent) last five consecutive years
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 The Exam Consists of 5 Basic Domains

% of # of
Domains
Domain Questions
Domain 1: Risk Strategy and Planning 22% 37
Domain 2: Risk Identification 23% 39
Domain 3: Risk Analysis 23% 39
Domain 4: Risk Response 13% 22
Domain 5: Monitor and Close Risks 19% 33

To t a l n u m b e r o f s c o r e d q u e s t i o n s 100

To t a l n u m b e r o f p r e t e s t ( u n s c o r e d ) q u e s t i o n s 15

To t a l n u m b e r o f q u e s t i o n s 115

Allotted Examination Time 2.5 Hours

Exam Language English – Arabic

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 Membership
& Exam
Fees

PMI
RMP Exam Fees RMP Exam Fees
Membership Fee
For Members For Non-Members
$139/Year
$520 $670
$129 for Renewal

Re-examination Re-examination
PMI Member $335 PMI Non-Member $435

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 Overview of the RMP Certification
Credential Maintenance
3 years
You are required to earn and report
Application Submission
30 professional development units PDUs
You have 90 days to complete your application once you have
within this 3-year cycle
started it

Credential Renewal
Application Completeness Review
You can complete the renewal process once you have earned
5 days
and reported 30 PDUs per the requirements and submit
renewal fees
Audit Process
(If your application is selected)
You have 90 days to send your audit materials Credential Suspension
PMI processes audit materials upon receipt 1 year
Occurs on the third anniversary of the day you passed the
exam if you have not fulfilled the Continuing Certification
Application Payment Process Requirements. Until the certification is renewed, you are
Once you submit the credential fee payment, you can schedule unable to use the credential logo or refer to yourself as an
your exam active credential holder

Multiple Choice Examination Eligibility Credential Expiration

1 year Occurs at the end of your suspension period if you did not
From the date of the application approval. fulfill the Continuing Certification Requirements toward
You can take the exam up to 3 times during this 1 year credential maintenance
and renewal
Certification Cycle
Your certification cycle begins the day you pass the exam and After Credential Expiration
are bestowed the credential If you wish to hold the credential again,
you must reapply
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 RMP Exam Reference Materials

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Ch-01

Introduction
 Ch - 0 1 Co nten ts

1 Purpose of The Standard for Risk Management

2 Approach of The Standard for Risk Management

3 Principles of Risk Management

4 Structure of The Standard for Risk Management

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 Introduction

 Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on
one or more objectives.

Risk

Negative Positive

Threats Opportunities

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 Introduction

The practice of risk management includes:

 Planning the approach,
 Identifying and analyzing risks,
 Response planning and implementation,
 and Ongoing Monitoring of risks.

Risk management is an essential aspect of all organizational activities.

This standard describes the application of risk management within an enterprise risk
management (ERM) context that includes the portfolio, program, and project domains.

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 Introduction

PMl's 2015 Pulse of the Profession Report

The organizations that apply a formal

risk management approach:
o 73% of projects meet their objectives,
o 61% finish on time,
o 64% are completed within the
approved budget.

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 Introduction
Risk Management allows an organization to:
Anticipate and manage change,
Improve decision making,
Proactively implement typically lower-cost preventive actions instead of higher-cost reaction to
issues,
Increase the chances to realize opportunities for the benefit of the business,

Generate broad awareness of uncertainty of outcomes,

Act upon the transformations taking place in its business environment, and

Support organizational agility and resilience.

 Risk management also establishes iterative connections among portfolios, programs, and projects
and links these connections with ERM and organizational strategy.

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 1.1
Purpose
of
The Standard For Risk Management
 Purpose of The Standard For Risk Management
4

It expands on the knowledge

1 contained on risk management in
the relevant sections of the PMI
foundational standards.
Describe the
fundamentals
of risk
management.

3
2
Apply risk management
Support the principles, as
objectives of
appropriate, to
and
portfolio, program, and
demonstrate
project domains as
the link to ERM
described in the PMI
foundational standards.

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 1.2
Approach
of
The Standard For Risk Management
 Approach of The Standard For Risk Management

This Standard presents the WHAT and WHY of risk management. The following concepts are
elaborated in this Standard:

 Purpose and benefits of risk management;

 Principles and concepts of risk management in portfolios, programs, and projects;

 Risk management life cycle in portfolios, programs, and projects; and

 Integration of risk management within portfolios, programs, and projects.

The scope of this standard is to provide guidance and not to impose uniformity of processes across
portfolios, programs, and projects. When planning and implementing risk management, it is essential that
each team consider the characteristics of the organization, portfolio, program, or project. The approach
presented in this standard is based on risk management principles that can be used as guidance when
designing specific management or business processes adapted to the organizational environment and
nature of the work.
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 1.3
Principles
of
Risk Management
 Principles of Risk Management

01 Strive to achieve excellence in the practice of risk management

02 Align risk management with organizational strategy and governance practices

03 Focus on the most impactful risks

04 Balance realization of value against overall risks

05 Foster a culture that embraces risk management

06 Navigate complexity using risk management to enable successful outcomes

07 Continuously improve risk management competencies

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 Principles of Risk Management

Strive to achieve Excellence in The Practice of Risk Management

 Risk management allows organizations and teams to increase the predictability of

outcomes, both qualitatively and quantitatively.

 This principle is about reaching the appropriate level of organizational process

1 maturity (the ability of an organization to apply a certain set of processes in a

consistent manner) and the optimal level of performance.

Excellence  Excellence in risk management is not achieved by the strict application of related
In processes. Rather, excellence can be achieved by:
Risk Management
(a) Balancing the benefits to be obtained with the associated cost and

(b) Tailoring the risk management processes to the characteristics of the

organization and its portfolios, programs, and projects.

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 Principles of Risk Management

Align Risk Management with Organizational Strategy and Governance Practices

 The practice of risk management in organizations is developed and evolved in

coexistence with other organizational processes, such as strategy and
governance.

2  The nature of portfolios, programs, and projects is such that circumstances may
change frequently.
Align
Risk Management  Adjustments become necessary as the organization evolves, for example, when
with
Organizational changes to decision-making processes, timing, scope, and speed are made.
Strategy

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 Principles of Risk Management

Focus on the Most Impactful Risks

 Successful organizations can effectively and efficiently identify the risks that
directly influence goals and objectives.

 The challenge for most organizations is making the best use of resources by

3
focusing on the right risks.

 This depends on the characteristics of the organization, its environment,

Focus on the internal maturity, culture, and strategy.
Most Impactful
Risks
 Determining the most impactful risks can be difficult. Organizations develop
and improve by refining the processes for risk prioritization

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 Principles of Risk Management

Balance Realization of Value against Overall Risks

 Risk management seeks to find the proper balance between the exposure to
risk and the expected business value creation or realization.

 Initiatives presenting a low level of risk may not create a sufficient level of

4
value and performance.

 On the other hand, initiatives presenting a high, expected performance may

Risk expose the organization to an unacceptable level of threat.
VS
Expected
Business Value

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 Principles of Risk Management

Foster a Culture that Embraces Risk Management

 A culture of risk management encourages:

(a) The identification of threats rather than ignoring them and

(b) The identification of opportunities by cultivating a positive mindset within

the organization.
5
A Culture
of
Risk Management

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 Principles of Risk Management

Navigate Complexity using Risk Management to enable Successful Outcomes

 Managing risks is an essential part of reducing and handling the complexity

within organizational initiatives.

 The ability to identify ana manage risks is directly dependent on the level of

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complexity of the initiatives.

 The more organizations navigate complexity using risk management, the more
they will be able to optimize the use of resources, increase the return on
Navigate
Complexity investments, and improve overall performance and business results.

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 Principles of Risk Management

Continuously Improve Risk Management Competencies

 The nature of risks to which an organization is exposed and the available

technology to manage those risks are changing.

 Technology allows organizations to manage risks more effectively and to

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better focus on the risks' impacts.

 Through continuous improvement of risk management competencies,

organizations and individuals can develop sustainable competitive
Continuous
Improvement advantages that contribute to overall organizational performance.

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 1.4
Structure
of
The Standard For Risk Management
 Structure of The Standard For Risk M anagement
This standard can be used to review portfolio, program, and project management processes from a risk management
perspective. It is organized as follows:
Section 1- Introduction
Section 2- Context and Key Concepts of Risk Management
Section 3- Framework for Risk Management in Portfolio, Program, and Project Management
Section 4- Risk Management Life Cycle in Portfolio, Program, and Project Management
Section 5- Risk Management in the Context of Portfolio Management
Section 6- Risk Management in the Context of Program Management
Section 7- Risk Management in the Context of Project Management
Appendix X1- Development of The Standard for Risk Management in Portfolios, Programs, and Projects
Appendix X2- Contributors and Reviewers of The Standard for Risk Management in Portfolios, Programs, and Projects
Appendix X3- Portfolio Risk Management Controls
Appendix X4- Program Risk Management Controls
Appendix XS- Project Risk Management Controls
Appendix XS- Techniques for the Risk Management Framework
Appendix X7- Enterprise Risk Management Considerations for Portfolio, Program, and Project Risk Management
Appendix X8- Risk Classification
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