PMI-RMP Lessons Learned 01 - Feb 2015

Mar 18, 2015 2453 Comments

Below is a PMI-RMP lessons learned that I collected from the internet (belongs to Rajiv Sharma) with some useful modification/complement:

1. Majority of the questions were situation based with emphasis on testing risk management processes, tools and techniques, input/output of Risk processes. I would recommend you to go through these basics of risk management as many times as you can so that they are on your finger tips in the exam. This will help you to answer straight forward questions quickly without dwelling much on two best options.
2. You will find some very lengthy questions with jargon historic data so read questions fast and focus on those key pointers which will help you to answer quickly.
3. There were at least 5 questions on latin hyperbole probability distribution data analysis. I studied the basics of this technique which proved valuable to answer them. And note to learn Monte Carlo as well.
4. There were 4-5 questions on critical success factors of risk processes which are straight forward if you have read 'Practice Standard for Project Risk Management'.
5. 4-5 questions were on steps to perform Risk Processes. e.g. What will be the next step after the Risk Manager has identified all Risks......
6. At least 5 questions on the types of Cost Reserves (Contingency vs management) applicable in certain risk scenarios.
7. I believe RMP test is designed to also test candidates patience and focus levels. The questions appear on computer screen randomly from questions bank (as PMI says) but I personally found questions at the start of test were lengthy, more tricky and time consuming to test candidates nerves. During the first 15-20 minutes, if you are stuck on many questions not confident of the right answer, don't lose hope, stay calm, mark them for later review and move forward. You will soon find simple/average questions which you can answer quickly that will increase your confidence level. Once your confidence level is high, you can always go back to the tricky questions marked for review with now greater higher chance of getting them correct on your second attempt.

Suggested materials from PMI:
1. PMBOK 5th edition- PMI
2. Practice Standard for Project Risk Management - PMI
3. Project Management JumpStart -  Kim Heldman
4. Project Manager’s Spotlight on Risk Management -  Kim Heldman
5. Project Risk Management Handbook - Bart Jutte
6. Understanding and Managing Risk Attitude - David Hillson, Ruth Murray-Webster
7. How to Manage Project Opportunity and Risk: Why uncertainty management can be a much better approach than risk management - Stephen Ward, Chris Chapman
8. Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project - Tom Kendrick
9. Integrated Cost-Schedule Risk Analysis - David Hulett
10. Practical Project Risk Management: ATOM Methodology - David Hillson, Peter Simon

MUST READ MATERIALS FOR PMI-RMP:
1. PMBOK 5th edition - PMI
2. Practice Standard for Project Risk Management - PMI
3. Rita Mulcahy's Risk Management Tricks of the Trade for Project Managers
4. Risk Management Concepts and Guidance - 5th edition - Carl L. Pritchard
5. PMI-RMP lessons and full test (full length mock test) from www.liprof.com
6. 30/40 PMI-RMP contact hours from www.liprof.com

Nguyen Si Trieu Chau, PMP PMI-RMP PMI-SP

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