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Study Tips from New PMI-RMPs

14 Day Study Plan

Below is a recommended 14 day study plan based on the eSim - 30 tests (790 questions) and numerous study documents. Register in the demo eSim here, to download the excel file and enter in your calendar dates to customize the study plan just for you. This will keep you "on target" to ensure you study on a daily basis.

Lessons learned from our most recent PMI-RMP Keith Noseworthy who successfully passed his exam in Dec 2015.

• Understand who participates in identifying risk. (all stakeholders)
• Be able to interpret monte carlo simulation charts. I had at least 5 questions on the exam where I had to review the diagram and answer the question.
• Questions regarding the level of risk and start of project and the closing stage of a project.
• Be able to define a sensitivity analysis.
• Understand the Latin Hypercube. I cannot remember the question but I do know there was only 1 question regarding this.
• Make or buy decisions. Be able to calculate this.
• EMV calculations.
• How to plan risk response for conditions such as weather.
• Have a good understanding of all estimating techniques.
• Contract types, the pros and cons. Which one carries most risk for buyer/seller? There must have been at least 5 questions on this topic.
• EVM calculations.
• Project is just been delayed because an unidentified risk has just occurred. What is the first thing you need to do?
• Understand secondary risk, work around, unplanned events, residual risk.
• Contingency funds, and management reserves. What is the difference between the two? When to draw from them? Who has access to these funds?
• What are the risk associated with crashing and fast tracking schedules?
• What is the Role and responsibility of the change control board?
• Define work authorization system.
• Power/influence grid. Be able to understand this.
• Where do you find information regarding stakeholder risk tolerance?
• Inputs and outputs to the stakeholder register, stakeholder management plan, communication management plan. They try and trick you on questions between stakeholder plans and communication plans. There must have been half a dozen questions regarding these topics.
• Validate scope and control scope. There were a couple of questions on these topics.
• There were questions regarding the last thing in the closing project phase. Release resources, lessons learned, archive project docs.
• A change has just taken place without your knowledge (you are pm). What is the first thing you do? Inform the sponsor, evaluate impact, change request, do nothing.
• Be able to calculate the profit on a CPIF contract.
• Be able to identify risk related to EEF.
• Know all the classifications of stakeholders and how they can evolve throughout the project.

Keith Noseworthy, PMP, PMI-RMP I Fort MacMurray, Canada, I 2015-12-28

Some key points to take note of:

  1. Study the PMI Practice Standard for Project Risk Management (you can download this from PMI if you are an active PMI member), know the TITLES like the back of your hand and the concept behind each area. I read this book three times and made notes! It should be a very easy read, but it give you almost all the high level info that is on the test:
  2. Topics to know:
  • Stakeholder Risk Attitudes and Tolerances affect EVERYTHING you do in risk management.
  • Study stakeholder risk attitudes and what they are including "risk-tolerant", "risk -averse", "risk-neutral" and "risk-seeking" (you may need to do more research)
  • Risk Metrics, why they're applied and what they measure
  • What is discussed at risk status meetings.
  • Difference between Contingency Reserve and Management Reserve

2. Memorize the inputs, tools and techniques, and outputs of RISK, STAKEHOLDER and COMMUNICATIONS Knowledge Areas. There is specific information on these on exam that you can easily get right if you know what they are (easy marks).

3.Know, Sensitivity Analysis / Tornado, Monte Carlo Analysis and Latin Hypercube. Know what they do, and what they are applied for, and how to read each graphs' data. The exam will ask you to name specific information from them ie: values at P90 or P50 (P stands for percentage).

Everything else that was on the exam is primarily focused on Risk with some points of COMM and STK, with tiny bit of conflict resolution, but not much.

Roxana Draghici, BATech, FMP, PMP, PMI-RMP LEED AP ID+C
Project Manager | Southern Ontario

1) PERT Uses - Beta Probability Distribution.
2) Most Commonly used Distribution is Triangular and Beta. Both uses 3 point duration.
3) Uniform distribution is the simplest type of Distribution.
4) Probability Distribution are tools and technique for Quantitative Risk Analysis.
5) Clearly differentiate betweenthe Variance Analysis and Trend Analysis which are the tools and techniques of Monitoring & Controlling.
6) Outputs of Monitoring & Controlling is very Important.
7) Understand the Cumulative S-Curve generated when using Monte Carlo technique.
8) How does bars in Monte Carlo bars appear for Healthier projects.
9) Checklist analysis is the easiest method of Data Gathering technique.
10) Expert Judgement require - Multi Subjective level Expert to analysis situation .
11) Risk Urgency assesment - Used to know near term risks of the project.
12) Risks are identified in both the Identify Risk andMonitoring & Controlling Process groups.
13) Watchlists are low priority risks generated from Qualitative risk analysis technique.
14) Risk Categorization is a tool and techniques of Qualitative risk analysis technique.

Haresh Jayanth - PMP, PMI-RMP, PSP, B. Arch, PGDACM

There is considerable breadth of material to review, not just the risk management section of the PMBOK but so many other knowledge areas as well are integral to know and understand. There were questions asked on specialty areas on OB (theory x, y, z), Quality and Communications (eg. Active Listening) which in general are not covered well in the PMBOK so could be enhanced in the actual course / reference material.

Stuart Nose, PMI-RMP (Research In Motion)

I am happy to share my experience with the prospective candidates for the PMI-RMP exam. Two months back I was in a similar situation, surfing the web to look for information. Not enough information was available about the exam as this is a relatively new exam and there is less awareness about the exam too. I purchased the PMISTAR exam preparation course for three reasons:
1. To understand the structure and pattern of questions asked in the PMI RMP exam
2. Collect PDU’s to meet the eligibility requirements
3. Read good reviews about the site online from previous candidates
4. Course is being offered at cheap rate
RMP exam simulation course is rich in risk management questions similar to actual exam. My strategy was to practice the questions using “Learning Mode” to understand the questions and collect the PDU’s initially. Later on when my application was approved, I revisited the question bank to evaluate my actual scores using the “Exam Mode”.
To pass the exam I studied PMBOK thoroughly (which means I learned the inputs, techniques and outputs for each chapter in PMBOK). I referred to RISK Management Standard published by PMI and Earned Value Management Standard.
However, you must try to practice as many questions as possible (not just the RMP, but PMP based questions in general). The more you practice the more confident you are.
The exam is not a tough one, may be because I referred to the right sources to prepare for the exam.
I studied an hour or two only on weekdays for two months, couldn’t study on weekend, even if I wanted to (I have a fifteen month old son who demands my attention all the time).

Neha Agrawal, MBA, CBAP, PMI-RMP

Copyright 2009 - ESim 4.0 "PMP," "PMBOK," "CAPM," "PM Network" and "PMI" are marks of the Project Management Institute, Inc. PM Star has been reviewed and approved as a provider of project management training by the Project Management Institute (PMI). As a PMI Registered Education Provider (R.E.P.), PM Star Inc. has agreed to abide by PMI-established quality assurance criteria.
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