ALL YOU NEED TO KNOW ABOUT PMI-RMP CERTIFICATION PMI-RMP

1. ALL YOU NEED TO KNOW
ABOUT PMI-RMP
CERTIFICATION
PMI-RMP
Alcides Cabral | PMI ANGOLA CHAPTER
Designed for people who are serious about
the management of unknowns

2. Alcides Cabral
• IMNE - Mathematics and Physics
• Computer engineer
• MBA Project Management
• PMP® (Project Management Professional)
• PMI-RMP® (PMI Risk Management Professional)
• DASSM (Disciplined Agile Senior Scrum Master)
• PMI-ACP® Certification - Agile Certified Practitioner
• Guru in Project Management
• ITIL®-F (ITIL 4 Foundation)
• CCP (Certificate of Pedagogical Competencies)
• Member of the Order of Engineers
• Founding Member PMI Angola
• PMI ANGOLA Past President
CONTACTS
• Alcides.cabral@pmiangola.org
• www.linkedin.com/in/alcidescabral/
• www.projectmanagement.com/profile/AlcidesCabral
• Alcidescabral.com – WhatsApp: +244 923 506045

4. The Project Management Institute is best known for its PMP® credential, but
PMI also offers the Risk Management Professional® certification for project
risk, governance, and compliance professionals. This PMI-RMP certification
recognizes the professional’s unique expertise and competency in assessing
and identifying project risks, mitigating threats and capitalizing on
opportunities, while still possessing a core knowledge and practical
application in all areas of project management.
4
Project Risk Management and PMI-RMP® Certification”

5. Risk management is the discipline of managing known unknowns and
unknown unknowns. This important function should be performed on all
projects, but often professionals are unsure how to do so effectively.
5
Project Risk Management and PMI-RMP® Certification”
Risk Management is an essential component of planning and is vital to the
execution of all projects, programs, and portfolios, whether small or large.
The central question becomes how can project professionals
manage risks effectively, complete projects successfully, and
deliver intended goals?

6. 6
Success in
Risk
Management
Recognize the
value of Risk
Management
Commitment
and Individual
Responsibility
Open and
honest
communication
organizational
commitment
Project-
adjusted
risk effort
Integrate
with project
management
Critical Success Factors in Risk Management
Influences

7. 7
Project Influences

8. PMI-RMP Exam Application Requirements
Project RM
Experience
hours
Project Risk
Management
Education
General
Education
High School Graduate
Bachelor’s degree
40 contact hours
30 contact hours
4.500 hours
3.000 hours
Three Years
Two Years
RM Experience
Years

10. PMI-RMP Exam Application Requirements
Application can be submitted online a www.pmi.org
PMI Membership is USD $129 to join (+ USD 10$ application fee)
Exam costs are $670 for non-members and $520 for members
Once the exam fee is paid, PMI sends an authorization letter to take the exam at authorized testing center.
Examination must be taken within a year of receiving the authorization letter
Note: Some applications are randomly selected for “audit”

11. PMI-RMP Exam Application
Here are a few guidelines that will help you fill in your application:
1. Go to the PMI website: www.pmi.org.
2. Create an account on the PMI website to begin the process of registering.
3. Select the PMI-RMP certification from the "Certification" menu.
4. Click on "Apply for PMI-RMP Certification" button.
5. Choose to become a PMI member before applying for the PMI RMP application to get a discount of USD150.
6. You can complete this process online at www.pmi.org.
7. Enter your name and contact details correctly to ensure that you have the correct information on the PMI-
RMP certificate.
8. Focus on the work you have done on a project while completing the "project experience" section in the
"experience verification" form.
9. Contact all the primary contacts mentioned in your application prior to submitting it to ensure their support
in providing evidence about your experience.
10. Ask a PMI-RMP certified professional to review your application before submitting it.
If PMI Selects your application for audit:
1. You will receive an email
2. Follow instructions and collect evidence of your experience

13. About the PMI-RMP Exam
1. Total duration of the exam is 3.5 hours.
2. Total number of questions: 170. Out of these, 20 questions are considered pre-test questions
3. All questions are "multiple choice questions" with only one correct answer.
4. You get 1 point for every right answer. There is no penalty for wrong answers.
5. PMI grades students on each of the five domains and assigns a grading of "Below Target,
"Target," "Above Target" and "Needs Improvement" in each of the five exam domains.
6. The result (pass or fail) is determined by a combination of these grades.
7. How many grades or number of points one has to score to pass the PMI-RMP certification exam is
not made public by PMI..

14. LIST OF KNOWLEDGE AND SKILLS
Domains
Perform Specialized
Risk Analyses
Tips, tricks
Exam simulation
Review questions
Risk Monitoring and
Reporting
Risk Process
Facilitation
Stakeholder
Engagement
Risk Strategy and
Planning

15. Explore de Course
1 Project Management Foundations 11 Risk Governance
2 Role of The Project Manager 12 Project Communications Management
3 Risk Management Foundations 13 Project Procurement Management
4 Plan Risk Management 14 Project Stakeholder Management
5 Identify Risks 15 PMI Code of Ethics
6 Perform Qualitative Risk Analysis 16 Exam Math Formulas Focus
7 Perform Quantitative Risk Analysis 17 Tools and Techniques- Advanced
8 Plan Risk Responses 18 Simulated Practice Exam
9 Implement Risk Responses 19 Exam Success Recipe
10 Monitor Risks 20 Exam

16. Execution
Control
Planning
1. Plan Risk Management
2. Identify the Risks
3. Perform Qualitative Risk Analysis
4. Perform Quantitative Risk Analysis
Plan Risk Responses
6. Implement Risk Responses
7. Monitor and Control Risks
Risk Management Processes

17. Planning - Appetite or risk aversion

18. • Identify Risks is the process of determining the risks
that could affect the project and documenting their
characteristics.
Who? When?
ALL INTERESTED
PARTIES
WHOLE PROJECT
LIVE CYCLE
Potential participants:
• Project manager
• Sponsor
• Project team
• Risk Management Team
• Specialists
• Customers
• End users
• other staholders
Risk Management - Identify Risks

19. Example - Risk Register

21. Risk Management - Perform Qualitative Risk Analysis
Probability and impact matrix.

22. Perform Quantitative Risk Analysis
EVM – Expected Monetary Value

23. Perform Quantitative Risk Analysis
Decision Trees

24. Perform Quantitative Risk Analysis
Decision Trees

25. Perform Quantitative Risk Analysis
Monte Carlo simulation

26. Project Management Institute, Um Guia do Conhecimento em Gerenciamento de Projetos (Guia PMBOK®) - 6a edição,
Project Management Institute Inc., 2017, página 255
Risk Management - Budget

27. Preventiva
Risk Management - Planning Responses to Risks

28. Risk Management - Tools and Techniques
Root Cause Analysis - Fishbone Diagram - Ishikawa

29. Risk Management - Tools and Techniques
Pareto Diagram

31. Risk Management - Tools and Techniques
Audits
 The audit is a structured and independent analysis that seeks to identify inefficient and ineffective
policies, processes and procedures in use in the project and not adhering to the policies and
procedures of the project and the company.
 It can be scheduled or random. Random has the advantage of having the surprise factor that prevents
the area from preparing in advance, presenting a reality that does not match the day-to-day.
 It can be performed by internal or external auditors. The most important thing is that there is no
personal interest of the auditor in the analysis in order to guarantee independence and transparency
in the analysis.
 Risk audits examine and document the effectiveness of the risk management process as a whole;

32. Gestão do Risco - Implementar a Resposta aos Riscos
Risk Management - Implement the Risk Response

33. Realistic
Stakeholder involvement
Risk Response Strategies
Good value for money

35. Other sources of risk
Network diagrams: sequential organization of dependent activities, derived from the WBS.
Critical path, convergent, divergent and near-critical path.

36. 37
All legal contractual relationships fall into one of two generic types:
• Fixed price
• Reimbursable costs
• There is a third hybrid type currently used, called a time and materials contract.
Risk distribution by type of contract
Acquisitions: Types of contract

37. 1. Communication Channel = n (n – 1) / 2
2. Earned Value (Earned Value = % complete × Budget at Completion (BAC))
3. Cost Variance (CV) = Earned Value (EV) – Actual Cost (AC))
4. Schedule Variance (Schedule Variance = Earned Value (EV) – Planned value (PV))
5. Cost Performance Index ( CPI = EV / AC)
6. Schedule Performance Index (SPI = Earned Value (EV) / Planned Value (PV)
7. Estimate at Completion (EAC) (EAC = BAC / CPI)
8. Variance at Completion (VAC) (VAC) = BAC – EAC)
9. Estimate to Complete (ETC) (ETC) = EAC – AC)
10. To Complete Performance Index (TCPI = (BAC – EV) / (EAC – AC) or TCPI = (BAC –
EV) / (BAC – AC)
11. Standard Deviation (SD) (σ = (Pessimistic – Optimistic) / 6)
12. PERT Formula (Beta = (P + 4M + O) / 6)
13. Expected Monetary Value (EMV) (EMV= Probability * Impact)
14. Risk Priority Number (RPN) (RPN = Detection * Occurrence * Severity)
EXAM MATH FORMULAS

38. 15. Cost Plus Percentage of Cost (CPPC)
16. Cost Plus Fixed Fee (CPFF)
17. Cost Plus Award Fee (CPAF)
18. Cost Plus Incentive Fee (CPIF)
19. Return on Investment (ROI = (Net Profit / Cost of Investment) * 100)
20. Payback Period (Payback Period = Initial Investment / Periodic Cash
Flow)
21. Cost-Benefit Ratio (CBR) (NPV = Value / (1 + r)^t)
22. Present Value (PV) (PV = FV / (1 + i)^n)
23. Future Value (FV) (FV = PV(1+i)^n)
24. Target Price (Target Price = Target Cost + Target fee)
25. Point of Total Assumption (PTA) (PTA = [(Ceiling Price – Target Price) /
Buyer’s Share Ratio] + Target Cost)
EXAM MATH FORMULAS

39. STAKEHOLDERS
Edward Freeman teoria dos stakeholders
Strategic Management: A Stakeholder Approach
• Stakeholders are of fundamental importance for the success of the Project;
• A stakeholder is any person or group that has an interest in the project, business or
company;
• “Stake” is associated with the notion of risk. “holder” is one who holds or owns something.
That is, the stakeholder of a Project is, in a literal sense, the one who insures some type of
risk;
• You don't have to be part of an organization to be considered a stakeholder;
• The purpose of Projects must go beyond the concern with results, as all stakeholders are
affected by the actions and results of a project;
• Projects must also be concerned with who is impacted by their actions, albeit indirectly.
• In this way, all decisions of a Project must be thought taking into account the presence of
stakeholders.

40. REFERENCES
• PMI's Practice Standard for Risk Management
• PMBOK Guide, 6th Edition
• PMI-RMP® Exam Content Outline
• Study Guide for the PMI Risk Management Professional (RMP)® Exam, Second Edition by
Abdulla J. Alkuwaiti (Amazon)
• Risk Management Tricks of the Trade for Project Managers plus
• PMI-RMP Exam Prep Guide by Rita Mulcahy (Amazon)
• PMI-RMP Exam Prep Success Series: Flashcards by Tony Johnson (Amazon)

41. FOUNDATIONAL STANDARDS
PRACTICE STANDARDS

42. PRACTICE GUIDES

43. Conclusion - Recommendations
• Individuals who cram information for the sole purpose of passing the exam often fail to
retain and use their newly found knowledge.
• Whatever methods you use, I encourage you to develop a study plan where you:
• Skim the materials before reading
• Read and study the materials
• Review the concepts
• Recite the concepts to others if possible
• Follow this plan and read your materials at least twice.
• Make your study time a priority. Develop a schedule for each week.
• Practice exam and review questions
What gets scheduled gets done!

44. 45
“Good things happen
when we get involved with the
PMI Kenya CHAPTER.”