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Format | PMI-RMP Course Contents | PMI-RMP Course Outline | PMI-RMP test
Syllabus | PMI-RMP test
Objectives
The Project Management Institute (PMI)® offers a professional credential for project risk managers, known as the PMI Risk Management Professional (PMI-RMP)®. PMIs professional credentialing examination development processes stand apart from other project management certification examination development practices. PMI aligns its process with certification industry best practices, such as those found in the Standards for Educational and Psychological Testing.
A key component of this process is that organizations wishing to offer valid and reliable professional
credentialing examinations are directed to use a role delineation study (RDS) as the basis for the creation
of the examination. This process uses knowledge and task-driven guidelines to assess practitioner
competence, and determine the level of salience, criticality, and frequency of each of the knowledge,
tasks, and skills required to perform to the industry-wide standard in the role of a project risk manager.
The role delineation study ensures the validity of an examination. Validation assures the outcome of
the test
is in fact measuring and evaluating appropriately the specific knowledge and skills required to
function as a project risk management professional. Thus, the role delineation study guarantees that each
examination validly measures all elements of the project risk management profession in terms of real
settings.
PMI-RMP® credential holders can be confident that their professional credential has been developed
according to best practices of test development and based upon input from the practitioners who
establish those standards. Please see Appendix A for a detailed description of the process.
The PMI-RMP examination is a vital part of the activities leading to earning a professional
credential; thus, it is imperative that the PMI-RMP examination reflect accurately the practices of the
project risk management professional. All the questions on the examination have been written and
extensively reviewed by qualified PMI-RMP credential holders and are supported by current project risk
management published references. These questions are mapped against the PMI-RMP Examination
Content Outline to ensure that an appropriate number of questions are in place for a valid examination.
PMI retained Professional Examination Service (PES) to develop the global PMI-RMP Examination
Content Outline. Since 1941, PES has provided a full range of assessment and advisory services to
organizations across a broad range of professions, in support of professional licensure and certification,
training, and continuing professional education. PES is dedicated to promoting the public welfare
through credentialing as a mission-driven, not-for-profit organization.
Finally, while the PMI-RMP Examination Content Outline, the Practice Standard for Project Risk
Management and PMBOK® Guide have commonalities, it is important to note that those involved in the
study described previously were not bound by the Practice Standard for Risk Management and/or
PMBOK® Guide. They were charged with defining the roles of individuals assessing and identifying
project risks, mitigating threats and capitalizing on opportunities, and using their experience and
pertinent resources to help in this task. Although many of the domains, tasks, knowledge, and skills outlined by the PMI-RMP Examination Content Outline are also covered by the Practice Standard for Project Risk Management and PMBOK®
Guide, there are some that are unique to the PMI-RMP Examination Content Outline. Candidates
studying for the examination will certainly want to include the current edition of the Practice Standard
for Project Risk Management and PMBOK® Guide as two of their references, and would be well advised
to read other current titles on project risk management.
Risk Strategy and Planning 19–20%
Stakeholder Engagement 19–20%
Risk Process Facilitation 25–28%
Risk Monitoring and Reporting 19–20%
Perform Specialized Risk Analyses 14–16%
Total 100%
Tasks Risk Strategy and Planning (19–20%)
Task 1 Develop risk assessment processes and tools that quantify stakeholder risk
tolerances in order to assess and determine risk thresholds for the project
and set criteria for risk levels.
Task 2 Update risk policies and procedures using information such as lessons
learned from projects and outputs of risk audits in order to Strengthen
risk
management effectiveness.
Task 3 Develop and recommend project risk strategy based on project objectives in
order to establish the outline for the risk management plan.
Task 4 Produce risk management plan for the project on the basis of inputs such as
project information, external factors, stakeholder inputs, and industry policies
and procedures in order to define, fund, and staff effective risk management
processes for the project that align with other project plans.
Task 5 Establish evaluation criteria for risk management processes based on project
baselines and objectives in order to measure effectiveness of the project risk
process.
Knowledge of:
=> Continuous process improvement as applied to risk management
=> Knowledge management techniques for organizing and providing access to project risk information
=> Metrics for measuring effectiveness of project risk process
=> Risk attitude concepts
=> Risk Breakdown Structure (RBS)
=> Risk tolerance concepts
=> Barriers to effective risk management
=> Project risk management inputs, tools, techniques, and outputs
=> Project risk contingency and management reserve
=> Research and analysis techniques
=> Basic strategy development methodologies
Tasks Stakeholder Engagement (19–20%)
Task 1 Promote a common understanding of the value of risk management by using
interpersonal skills in order to foster an appropriate level of shared
accountability, responsibility, and risk ownership.
Task 2 Train, coach, and educate stakeholders in risk principles and processes in
order to create shared understanding of principles and processes, and foster
engagement in risk management.
Task 3 Coach project team members in implementing risk processes in order to
ensure the consistent application of risk processes.
Task 4 Assess stakeholder risk tolerance using processes and tools such as
interviewing stakeholders and reviewing historical stakeholder behaviors in
order to identify project risk thresholds.
Task 5 Identify stakeholder risk attitudes and cognitive biases using stakeholder
analysis techniques in order to manage stakeholder expectations and
responses throughout the life of the project.
Task 6 Engage stakeholders on risk prioritization process based on stakeholder risk
tolerance and other relevant criteria, in order to optimize consensus
regarding priorities.
Task 7 Provide risk-related recommendations to stakeholders regarding risk strategy
and planning, risk process facilitation, risk reporting, and specialized risk
tasks by using effective communication techniques in order to support
effective risk-based decision making.
Task 8 Promote risk ownership by proactively communicating roles and
responsibilities and engaging project team members in the development of
risk responses in order to Strengthen
risk response execution.
Task 9 Liaise with stakeholders of other projects by using effective communication
techniques and sharing information on project risk performance in order to
inform them of implications for their projects.
Knowledge of:
=> Information resources, both internal (for example, OPA) and external (for example, EEF)
=> Project performance information
=> Stakeholder sensitivity analysis models
=> Training and coaching techniques
=> Types of stakeholder risk attitudes (including but not limited risk seeking, risk tolerant, and risk averse)
=> Group decision making
=> Group creativity (including but not limited to brainstorming, nominal group technique, Delphi technique, idea/mind mapping, and affinity diagram)
Skills in:
=> Assessing stakeholder risk tolerance (appetite and attitude)
=> Collaborating with stakeholders
=> Managing teams in multicultural environments
=> Influencing change
Tasks Risk Process Facilitation (25–28%)
Task 1 Apply risk assessment processes and tools in order to quantify stakeholder
risk tolerances and determine risk levels.
Task 2 Facilitate risk identification using a variety of techniques in order to enable
the project team and stakeholders to understand and determine the risk
exposure of the project.
Task 3 Facilitate the project teams evaluation of the identified risks attributes using
qualitative and quantitative tools and techniques in order to prioritize the
risks for response planning.
Task 4 Facilitate the development of an aligned risk response strategy and related
risk actions by risk owners from the information gathered during risk analysis
in order to ensure timely and defined action when required.
Task 5 Facilitate the formulation of project contingency reserve based on the risk
exposure of the project in order to have the capability and resources to
respond to realized risks.
Task 6 Provide risk data to cost and schedule analysts/estimators to ensure that
project risk is properly reflected in cost and schedule estimates for the
project.
Task 7 Use scenarios to validate potential risk responses and evaluate key
dependencies and requirements in order to enhance the likelihood of project
success.
Knowledge of:
=> Basic risk identification tools and techniques for both threats and
opportunities (including but not limited to brainstorming, checklists,
prompt lists, assumptions and constraints analysis, interviews,
questionnaires, cause and effect analysis, SWOT analysis, document
review, affinity diagrams, and lessons-learned review from similar
projects)
=> Basic qualitative risk analysis tools and techniques (including but not
limited to probability-impact matrices, risk scoring, Risk Breakdown
Structure analysis, root cause analysis, Pareto prioritization analysis, and
risk metric trend analysis)
=> Basic quantitative risk analysis tools and techniques (including but not limited to Monte Carlo analysis, decision trees, FMEA/FMECA/Fault Tree
analysis, and sensitivity analysis)
=> Heuristics and other dynamic sources of cognitive biases and their associated effects on risk perception and behavior
=> Risk response strategy types
=> Contingency management tools and techniques
=> Risk monitoring and control techniques
=> Group decision making
=> Group creativity (including but not limited to brainstorming, nominal group technique, Delphi technique, idea/mind mapping, and affinity diagram)
Skills in:
=> Using analytical software tools for project risk management
=> Managing teams in multicultural environments
=> Estimating probability and impact of identified risks
Task 1 Document and periodically update project risk information using standard
tools (including but not limited to risk register, risk database) and techniques
in order to maintain a single, current repository of all project risk information.
Task 2 Coordinate with project manager using communication techniques in order to
integrate risk management throughout the project.
Task 3 Create periodic standard and custom reports using risk-related metrics as
specified in the risk management plan in order to communicate risk
management activities and status.
Task 4 Monitor risk response metrics by analyzing risk response performance
information, and present to key stakeholders in order to ensure resolution of
risk and develop additional risk response strategies to address residual and
secondary risks.
Task 5 Analyze risk process performance against established metrics in order to
drive risk process improvements.
Task 6 Update the project risk management plan using relevant internal and external
inputs in order to keep the plan current.
Task 7 Capture risk lessons learned through comprehensive review of the project
risk management plan, risk register, risk audits, risk process performance
reports, and other associated reports in order to incorporate into future risk
planning.
Knowledge of:
=> Continuous process improvement and quality management as applied to risk management
=> Knowledge management techniques for organizing and providing access to project risk information
=> Alternative formats for project risk reports (for example, Top Risk List, Risks Transitioned to Issues, Response Plans Behind Schedule, Risk Triggers, and Risk Outcomes)
=> Requirements for risk register data fields
=> Risk statement construction
=> Risk response activity construction
=> Risk response metrics
=> Risk process performance metrics
=> Risk assessment analysis metrics
=> Risk management reserves
Tasks Perform Specialized Risk Analyses (14–16%)
Task 1 Evaluate the attributes of identified risks using advanced quantitative tools
and specialized qualitative techniques in order to estimate overall risk
exposure of the project.
Task 2 Analyze risk data produced during the project using statistical analyses and
expert judgment in order to determine strengths and weaknesses of risk
strategy and processes and recommend process improvements when
indicated.
Task 3 Perform specialized risk analysis using advanced tools and techniques in
order to support stakeholder decision making for the project.
Knowledge of:
=> Advanced risk identification tools and techniques for both threats and
opportunities (including but not limited to force field analysis, scenario
planning, futures thinking, visualization, Delphi groups, and nominal
group technique)
=> Advanced quantitative risk analysis tools and techniques (including but
not limited to, integrated cost/schedule analysis, advanced Monte Carlo
analysis, system dynamics, bowtie analysis, analytical hierarchy process,
risk-based earned value analysis, risk-based critical chain analysis, and
multi-factor regression analysis, modeling techniques, advanced risk
metric analysis [including statistical process control])
=> Tools and techniques for identifying and analyzing overall project risk
(including but not limited to risk efficiency index, risk tolerance analysis,
risk reserve analysis, risk metric trend analysis, risk taxonomy, risk
connectivity analysis, Monte Carlo analysis against overall project
objectives, project risk surveys, and correlation analysis)
=> Basic and advanced statistics
=> Estimation tools and techniques to support risk decision making
(including but not limited to prioritization, cost-benefit analysis,
analogous, parametric, and bottom-up)
=> Advanced theory of heuristics and other sources of cognitive bias
=> Variance/Earned Value Analysis
Knowledge of:
=> Project risk management processes, frameworks, and theory (in line with
the PMI Practice Standard for Project Risk Management)
=> Basic project management theory, methodologies, and practice (as
described in the PMBOK® Guide)
=> Risk principles and guidelines as described in ISO31000
=> Communication tools, techniques, models, and channels
=> Facilitation tools and techniques
=> Negotiation tools and techniques
=> Leadership theory as it relates to risk management
=> Organizational theory as it relates to risk management
=> Risk taxonomy
=> PMI Code of Ethics and Professional Conduct
Skills in:
=> Effective oral, graphical, and written presentation
=> Tailoring information to all levels of stakeholders
=> Conducting effective interviews
=> Gathering, managing, analyzing, and validating data
=> Problem solving
=> Active listening
=> Conflict resolution
=> Expressing complex and abstract information
=> Influencing without authority
=> Coaching and mentoring
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PMI Risk PDF Braindumps
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Law360 (February 17, 2021, 6:09 PM EST) --
challenge management has an easy premise: Plan the work; work the plan. however when it involves government contracts, the reality is regularly extra complicated.
since the government purchases cutting-aspect expertise, essential weapons systems and development initiatives in challenging environments, planning the work on my own is complicated and difficult. Then, working the plan can be avoided by means of sudden situations, defective requisites or adjustments.
during the past 12 months, the COVID-19 pandemic has affected the efficiency of virtually all executive contractors — featuring a stark reminder that any executive contract can face disruption. Now greater than ever, contractors wish to effectively establish the impact of surprising movements on deliberate work.
Your company's mission-scheduling utility can be a useful tool in facing this problem. government contractors often make use of schedule application to devise, arrange, track, record and update their work from inception to completion.
task-scheduling application allows for contractors to hyperlink features of work — i.e., activities or tasks — in accordance with their logical relationships and relative sequence to at least one a further. it might probably determine the project's crucial direction — the sequence of linked activities deliberate to take the longest time to complete on a challenge.
task-scheduling software can also be used to support tune the have an impact on of adjustments, sudden conditions, or delays on one aspect of labor to different elements and, in the end, the common task completion date. Used during this manner, project0scheduling application can help contractors control alterations greater effectively on a sophisticated and dynamic contract.
In-residence lawyers who consider task-scheduling most advantageous practices can superior ebook their business's efforts to attain agenda extensions — i.e., excusable prolong, stay away from liquidated damages and get hold of equitable alterations to the contract price — i.e., compensable delay. in addition, task-scheduling most useful practices can assist company managers prioritize and control changes as they come up.
here are 5 purposeful suggestions for in-condo legal professionals and enterprise managers working with their scheduling and mission teams:
1. increase a complete baseline time table.
A finished baseline time table will also be used to replicate the contractor's plan for executing the contract scope of work and to document the parties' expectations about the work — aspects, duration and timing — at the point of contract execution. this sort of comprehensive baseline agenda can provide a different tool for managing the work, picking out alterations and measuring prolong.
Some constructive considerations when establishing your baseline time table: advance constant practices for the entire scheduling department, modify for any contract selected scheduling requirements, and include enter from subcontractors and other key stakeholders.
2. integrate your time table, project management and alter-manage teams.
As you work to create a robust alternate-handle lifestyle in your business, it can be a good suggestion to integrate your time table team into your mission administration and alter-handle teams.
because task-scheduling utility contains common sense ties — i.e., relationships — between individual activities and the average mission plan, doing so can assist you identify adjustments that have an effect on mission performance, time and cost.
via integrating your agenda management group into commonplace undertaking meetings and discussions of alternate control, you could shift the schedule from being purely a contract deliverable to being a magnificent tool for enhanced contract administration and more profitable performance.
three. replace the time table to include lengthen activities.
As alterations or delay movements are recognized, believe, when useful, having the agenda crew create new actions inside the agenda itself, with linkages to the deliberate work items being delayed or impacted.
Doing this in the challenge-time table software will allow for a true time knowing of the magnitude of the exchange or lengthen event and its effect on the broader challenge.
adding new activities to the agenda is similar to opening a new can charge code for a contract alternate — regularly called alternate order accounting — and can supply a obviously delineated method to tune the challenge and its effect on the time table.
as an example, if a manufacturing facility helping the undertaking is shut down due to COVID-19-linked impacts resulting in procurement delays, a brand new exercise reflecting the shutdown may well be inserted into the venture time table and logically tied to the specific actions affected by the delayed procurement.
retaining and offering the executive with this classification of visibility into agenda impacts can also be a different tool to document and exhibit the magnitude and impact of the alterations you have got recognized.
4. be aware any customer constraints on venture schedule submissions.
during contract performance, the listing of issues for dialogue between the contractor and the govt can turn into long and complicated: changes, faulty standards, drive majeure impacts comparable to COVID-19, differing website situations, and delays in website availability or availability of executive-furnished gadget, amongst different project-certain concerns.
The executive may additionally not all the time tackle these issues — or their impact on the project time table — directly, and it might insist they no longer be incorporated in agenda updates. additionally, the government may additionally insist the contractor not depict time table actions as comprehensive except formally accredited via the government.
These forms of constraints can have an effect on the challenge schedule's essential course and average timeline for completion. in case you end up in one of these circumstance, agree with noting in your contract agenda submissions that the agenda reflects constraints distinctive through the executive.
word the impact of those constraints on key milestones and that the contractor has submitted — or will submit — a metamorphosis observe in the hunt for excusable compensable extend or equitable adjustment, if applicable.
5. information is low cost, so hold those versions.
challenge-scheduling application can include many layers of advice past what is shown on a printed report or task time table. A single Gantt chart customarily does not deliver the recreation relationships, calendars, and other facts that can help in the evaluation of task schedules and backbone of which actions power the venture's essential direction.
Many government contracts require periodic contractor time table submissions, usually formalized in contract-information-requirements record submissions. those record submissions are sometimes made within the variety of PDF printouts of summary experiences generated by way of the scheduling utility.
while these abstract reports can also supply useful information involving venture popularity, they usually are handiest a static snapshot of the agenda, and don't consist of all of the underlying schedule particulars reminiscent of predecessor/successor good judgment, useful resource limitations or other facts that can be constructive to determine time table adjustments.
Some contractors retain the contract deliverables — the PDF summary experiences — however now not each version of the native utility file.
Native schedule info can be just a little tremendous, and they suspect this follow is a holdover from the days of limited file storage on computer networks. but information storage has become lots more affordable and extra accessible, and for many groups, file storage limitations aren't any longer an issue.
old habits die complicated, so agree with updating your practices to preserve a duplicate of the native types of the baseline time table, rebaseline schedules and periodic time table updates. keeping these native info will enable for greater efficient evaluation of adjustments or delays, if imperative, afterward.
And, bonus points for protecting a finished log of the native agenda files, including fundamental counsel akin to file name, status date and even if the native file corresponds to a schedule replace submitted to the executive. This can be a constructive device for rapidly choosing which schedules are extra relevant for examining a selected alternate or lengthen event.
A key to a hit project management in your government contract is coping with the inevitable adjustments and disruptions. whereas following these advice isn't a requirement to claim and recover for the influence of these hobbies, effective time table administration can supply extra equipment to control and resolve alterations successfully, stay away from liquidated damages or default, and facilitate recovery of excusable compensable delay.
Matthew Haws is a associate at Jenner & Block LLP.
Johnathan Rice is a companion and Sashi Mahtani is a senior companion at Breakwater Forensics LLC.Â
The opinions expressed are those of the creator(s) and do not necessarily reflect the views of the organisations, their customers or Portfolio Media Inc., or any of its or their respective associates. this text is for typical suggestions functions and is not intended to be and may not be taken as criminal assistance.
For a reprint of this text, please contact reprints@law360.com.