Should I go for the PMI-RMP certification exam?
Is the PMI-RMP certification is valued in the industry?
These are a few of the most common questions I get asked regularly by professionals who have passed the PMP exam.
Since the PMI-RMP certification is the second most important certification from the PMI, this is the natural choice for project professionals who have passed the PMP exam.
There is also another reason why you may want to apply for the PMI-RMP certification exam if you have passed the PMP exam.
You have been preparing for the PMP exam for a quite a long time, then you pass it and the exam pressure is released and you are not comfortable with it.
Passing the PMP exam was a project for you, and you have successfully completed the project. Now you are free and looking for another project, so you decide to apply for the PMI-RMP exam.
Although preparing for and passing the PMI-RMP exam will enhance your skills and you will be more employable, honestly I wouldn’t suggest you go for this certification just for the sake of attaining it.
You should go for this certification if you have a genuine interest in it.
There is another category of aspirants who did not pass the PMP exam and they are only interested in the PMI-RMP certification because of their job requirements.
This is a perfect reason and you must go for it as this is your job requirement.
Now let’s answers the questions.
Should I go for the PMI-RMP certification exam?
If you are involved in risk management, you should go for it. It will help you perform better; hence it will help you in your career growth.
You can also go for it if you are into project management and are also interested in following a career in risk management.
Now the million dollar question: Is this certification is valued in the industry?
Yes, this is a highly valued certification in the industry and I have personally witnessed it. I have received many queries from people who are interested in employing PMI-RMP professionals.
Also, if you search any job portals for risk management job openings you will find that many openings in risk management recommend that the desirable candidate should possess the PMI-RMP certification, and some others even make it mandatory to have this certification.
This clearly shows the value of this certification.
A few years back when there were a few PMPs, organizations were happy with them; however nowadays organizations are becoming increasingly cautious and they are better informed. Project failure is a very costly affair and they want to avoid it at all costs. Therefore to avoid these issues, they prefer PMI-RMP certification holders over non PMI-RMP certification holders to manage risks in their projects.
I hope I have answered your queries well and now you are in a better position to decide whether you should go for the PMI-RMP certification or not.
Now if you are interested in the PMI-RMP certification, the following information will help you understand the process better.
If you hold a secondary degree (high school diploma or equivalent), you should have 4,500 hours of project risk management experience and you must attend 40 hours of formal project risk management training program.
If you hold a four year degree (bachelor’s degree or equivalent), you should have 3,000 hours of project risk management experience and you must attend 30 hours of formal project risk management training program.
The exam fee for PMI members is 520 USD and 670 USD for non-members.
The PMI membership fee is 139 USD, so if you become a member of PMI and apply for the PMI-RMP exam, you will save 11 USD.
Therefore, I suggest you obtain a PMI membership before applying for the exam.
There are many benefits of a PMI membership.
The PMI-RMP exam consists of 170 multiple choice questions, including 20 of pretest questions. These pretest questions do not add to your result, but are rather used to check the validity of future exam questions. Since you cannot recognize these questions, you should be ready to answer all 170 questions.
The time allotted for the exam is 3.5 hours and there will be no scheduled break. If you want to take a break, you can take it but the counter will not stop.
Your PMI-RMP certificate is valid for only three years. To renew it for another three years you will have to earn 30 PDUs in risk management topics.
Benefits of a PMI-RMP Certification
This certification offers immense benefits to you as well as your organization.
As per the PMI’s Pulse of the Profession edition 2015 findings:
Eighty-three percent of organizations that are high performers in project management practice risk management frequently while just 49 percent of low performers do so. The practice contributes to a handsome payoff: high performers meet their goals 2.5 times more often and waste 13 times less money than low performers.
So you can see for yourself that this certification helps organizations perform better.
This certificate also makes you proactive in managing risks, improves your control of projects, minimizes surprises, minimizes losses, improves organizational resilience, and most importantly, it improves stakeholders’ confidence and trust in you and your organization.
There is no doubt that a PMI-RMP certification is the most renowned certification in risk management and possessing it will only validate your experience and knowledge. This certification will increase your employability and may garner you a pay raise. I definitely recommend you to go for it if you are involved in risk management or have any interest in risk management.
P.S.: Please refer to the PMI-RMP Handbook for any of the latest updated information. In case of any conflict, assume the information given in the PMI-RMP Handbook to be correct.
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