27 June 2008 Print

PMI Risk Management Professional Credential to Be Launched
27 June

The first 100 candidates who sit for the PMI-RMP examination between 29 August and 31 October will receive 50 percent off the price of the examination. They also will be entered into one of four regional drawings for US$1,000.

PMI is pleased to announce the global launch of a new credential – the PMI Risk Management Professional (PMI-RMP)SM.

Development of the PMI-RMP stemmed from research conducted by PMI on the importance of offering credentials in specialty areas of project management.

The PMI-RMP credential recognizes practitioners’ skills in project risk management, including the ability to identify and assess project risks, and to make plans to mitigate threats and capitalize on opportunities. Eligible practitioners have three to five years of project risk management experience, and are key members of a project team.

Arpat Omur, PE, PMP, a member of the PMI Risk Specific Interest Group (SIG) and Risk Credential Steering Committee, recently explained the importance of the new credential: “Properly applied risk management can identify uncertainties, analyze them and generate effective responses to eliminate or mitigate negative consequences.”

Mr. Omur added, “Business management is basically risk management. Business managers use risks, assessed at project level, in managing multi-project portfolios. This allows the business to allocate required resources from higher to lower risk projects, thus maximizing the profits.”

Bruce Chadbourne, PgMP, who participated in the development of the new credential, noted that “Businesses can save a lot of money if they assess and manage risks well. They need to understand how to establish and manage contingency reserves to protect against risk.”

According to Cheryl Baugh, PMP, the bottom line is that good risk management reduces risk to acceptable levels.
“Project scope, cost, schedule and performance factors are all interdependent and any single change to any factor impacts all other factors," said Ms. Baugh, a PMI Risk SIG Member and member of the Risk Credential Steering Committee who is president of Government Integrated Business Approaches, Inc.

Results of a 2004 survey indicated that project risk management was among the specialty areas considered very important by PMI members. Additional surveys validated the results of the survey and reinforced the importance of acknowledging those in the project risk management field.

Eligibility Requirements for the PMI-RMP

With a bachelor’s degree or global equivalent have:

  • 30 contact hours of formal education, must be in project risk management
  • Within the past five years, a minimum of 3,000 hours experience in project risk management

OR
With a high school diploma or global equivalent, you must have:

  • 40 contact hours of formal education, must be in project risk management
  • Within the past five years, a minimum of 4,500 hours of experience in project risk management

Continuing Certification Requirements

To maintain the credential, PMI-RMP credential holders must acquire 30 Professional Development Units (PDUs) per three-year cycle in the specialty area of project risk management.

Please note the following:

  • The 30 PDUs in project risk management can also be counted towards the maintenance of the Project Management Professional (PMP)® or Program Management Professional (PgMP)® credential 
  • If a project risk management practitioner is taking general project management classes, only the hours that pertain to project risk management can be applied to the PMI-RMP

Please visit pmi.org for more information.



 
BACK TO TOP