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Stakeholder Engagement (19-20%)

• Promoting risk ownership by proactively communicating responsibilities and roles as well as involving project team members in the expansion of risk responses for improving the risk response execution;
• Coaching the project team members in performing risk processes to secure the regular utilization of risk processes;
• Engaging the stakeholders on the risk prioritization process according to the stakeholder risk tolerance and different relevant standards for optimizing the consensus regarding priorities;
• Utilizing useful communication methods and sharing information on project risk performance to liaise with the stakeholders of other projects to notify them about suggestions for their projects.
• Providing the risk-related advice to the stakeholders concerning risk planning and strategy, risk reporting, risk process facilitation, and functional risk tasks utilizing useful communication techniques for supporting effective risk-based decision making;
• Utilizing the interpersonal skills to develop a common understanding of the importance of risk management to foster the proper level of risk ownership, responsibility, and shared accountability;
• Training, coaching, and educating the stakeholders in risk processes and principles to create a common understanding of processes & principles, as well as foster involvement in risk management;
• Utilizing the tools and processes such as analyzing historical stakeholder behaviors and interviewing stakeholders to assess stakeholder risk tolerance for identifying the project risk thresholds;

Reference: https://www.pmi.org/certifications/risk-management-rmp

Major Topics to Explore

The PMI-RMP certification exam contains five major domains to be covered. The candidates should develop a solid understanding of these topics before attempting the test. Let’s take a look at these exam objectives.

• Risk Process Facilitation (25-28%)

  The third section of the PMI-RMP certification exam teaches the test takers how to use the risk assessment processes by studying risk tolerance and coming up with projected risk levels. It also covers competency in identifying risks, evaluating identified risks, developing a workable response procedure, as well as creating a contingency reserve according to the risk exposure identified in the project. This area also covers the utilization of data to budget for risk management and utilization of staged scenarios to evaluate the appropriateness of responses.

• Stakeholder Engagement (19-20%)

  The second subject area measures the students’ understanding of risk management among the team members as well as their skills in training & coaching the stakeholders on important risk management processes and delivering training for the team members on how to apply risk management processes during the project. It also equips the applicants with the skills required to assess the stakeholder risk tolerance rates as well as identify any attitudes and biases to risks among the stakeholders and keep them enlightened on the prioritization of risks. The domain also provides the examinees with the knowledge of the recommendations they can give to the stakeholders on how to plan and strategize for risks, how they can communicate with the rest of the team, and how to keep the team members involved in the project through efficient communication.

• Performing Specialized Risk Analysis (14-16%)

  The fifth objective focuses on performing specialized risk analyses, which cover the ability to execute the following tasks: monitoring different factors of risks within the project, analyzing the data collected, using the appropriate tools to assist in the stakeholder decision-making processes in regards to risk management.

• Risk Monitoring & Reporting (19-20%)

  The fourth topic that the PMI-RMP exam deals with covers five tasks. This teaches you how to keep track of the risk management processes in a project by keeping an updated record of all the risk incidences and their responses. It also highlights how to work with a project manager through proper communication, monitoring the response metrics, and analyzing the performance of the proposed risk responses. The domain also covers how to keep the risk management plan updated during a project and how to capture and use lessons learned in risk management in the project.

• Risk Strategy & Planning (19-20%)

  The tasks covered in this domain include evaluating risk and setting criteria for risk levels while assessing the tolerance of risk among the stakeholders. It also covers updating risk policies in the project; developing and recommending the appropriate risk strategies; providing a risk management plan; establishing criteria for the risk management process for the project.

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PMI PMI-RMP Exam Syllabus Topics: