Should I Go for the PMI-RMP Certification Exam?

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After having passed the PMP test, a thought came to mind. Do you need to get the PMI-RMP Certification? Do you think it has any significance?

Many times I hear this question from people who have recently completed PMPs. This is a common concern since the PMI-RMP is the most sought-after certification from the PMI that they wish to get it.

There could be a different reason.

You've been studying for the PMP test. It passes, but the pressure has been released but you're not happy with the results. You have passed an exam like the PMP examination which was not a success for you. You are now in search of a new project, and are considering taking the PMI-RMP test.

I would not advise you to get this certification just to get it.

There is a different category of candidates who didn't successfully pass the PMP exam, but are looking for the PMI-RMP certificate because of their work requirements.

Do I need to go for the PMI-RMP certification test?

It is recommended to get this certification if you're engaged in the field of risk management, and have a genuine interest. This certification can improve your efficiency and enhance the chances of your career advancement.

You may also earn this certificate if you're involved in project management and looking to pursue the path of the field of risk management.

Is this certification appreciated in the business world?

Yes, it is an extremely sought-after credential in the business and I've seen it. I have received a lot of interviews when I changed my CV to include the PMI-RMP certification.

A quick search on any job website for risk management positions will show that numerous employers have recommended this credential, and certain have even made it compulsory. This demonstrates the importance of this credential.

In the past, PMP certification holders were uncommon and companies were content just to have these individuals. Today, businesses are becoming more prudent. The failure of a project can be an expensive event. They want to stay clear of it at all costs. This is why they prefer those with PMI-RMP certification over non-PMI RMP certification holders to reduce the risks associated with their projects.

I hope that I've addressed your concerns and you're in a better position to make a decision about whether you want to obtain the PMI-RMP certificate and if you should not.

The below information will help you to understand the process if you are considering this certification.

Eligibility

You must have at least 4,500 hours of project risk management experience, if you have a second degree (high secondary diploma or similar) and must take part in at least 40 hours of formal project risk management education.

You must have 3000 hours of risk management experience, if you are a graduate of a four-year program (bachelor's degrees or equivalent) and take at least 30 hours of formal training in project risk management.

Exam Fee

The cost for the exam to PMI participants is $ 520, and 670 USD for non-members.

The PMI membership cost is $139, which means that if you join PMI and you apply for the PMI-RMP exam you'll save 11 dollars. This is why I recommend you purchase an PMI membership prior to applying to the exam, and make use of the numerous advantages it offers.

Exam

The PMI-RMP test consists of 170 multiple-choice tests which include 20 pretest questions. These questions aren't added to your final score however they are used to test the accuracy of questions to be included in future exams. Since you can't discern the questions in these tests, you need to be prepared to tackle every one of the 170 questions.

The duration of the test is 3.5 hours. There is no planned break. It is possible to break for a moment but the duration is included in the time for the exam.

CCR Cycle

The PMI-RMP certification has a validity of three years. You must achieve 30 PDUs on topics related to risk management to renew it for a further three years.

Benefits of a PMI-RMP Certification

According to"Pulse" of the Profession Edition 2015 findings:

83% of the organizations that perform well in project management use risk management often, while only 49% of the low performers practice it. This practice results in an impressive payoff: High performers reach their targets 2.5 times more frequently and spend 13 times less than lower performers.

Source: Pmi

This certification helps companies achieve better results. It helps them be more proactive with regards to managing risks. It enhances the efficiency of projects, helps reduce the chance of losses and surprises and increases the resilience of an organization. It boosts the confidence of stakeholders and trust in both you and your company.

Summary

The PMI-RMP certificate is the most sought-after assurance in risk management and it validates your expertise and experience. The certification improves your abilities which makes you marketable. I suggest you apply for the PMI-RMP credential when you're involved in managing risk.

P.S. You can refer to the PMI RMP Handbook to get the most up-to-date details. In the event of a disagreement, assume that the information within the Handbook of PMI-RMP is valid.

Are you involved with risk management? And are you thinking about the PMI-RMP certification? Do you have any thoughts? Please post them in the comment section.

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