Organizations place a premium on risk management. Having the RMP certification in your signature as a risk management professional increases your credibility. The RMP certification may help you land jobs, contracts, and projects with organizations looking for risk management experts. RMP certification is available from the Project Management Institute for those with the necessary education and experience and who can pass a certification exam.

What is the Risk Management Professional (PMI-RMP)® certification?

Professionals in project risk management perform a specialized function tuned to the needs of a project environment that is becoming increasingly global, dynamic, and complex. The PMI Risk Management Professional (PMI-RMP)® certification validates a person's ability to identify and assess project risks and develop risk responses that mitigate project threats and capitalize on opportunities.

According to PMI, 83 percent of high-performing organizations practice risk management regularly, while only 49 percent of low-performing organizations do. According to PMI's 2015 Pulse of the Profession® report, high performers meet their goals 2.5 times more frequently and waste 13 times less money than low performers. There are several benefits of PMI RMP certification.

RMP Certification Requirements

To take the exam for the PMI-RMP credential, you must meet several prerequisites. This credential is only available to those who complete a specific combination of education and experience requirements. PMI-RMP applicants must have a high school diploma or an associate degree, 40 hours of RMP training, and at least 4,500 hours of RMP experience. Applicants with a bachelor's degree must have completed 30 hours of RMP training and have at least 3,000 hours of RMP experience. If you meet these requirements, you are eligible to take the written exam. You have earned the PMI-RMP credential after passing the exam.

Project Management Institute

The Project Management Institute is a non-profit organization that serves professional project managers worldwide. PMI certifications are widely recognized worldwide, and obtaining one demonstrates a high level of concentration and specialization. Over 460,000 PMI certifications have been received, and many project and risk management professionals are members. PMI members share a commitment to and expertise in the field, and they study the extensive PMI-authored "A Guide to the Project Management Body of Knowledge (PMBOK® Guide)." A PMI-RMP-specific handbook is also available.

Who Should Submit an Application?

Individuals with a project or organizational role in the specialized area of risk management certified PMPs who want to demonstrate a deeper level of expertise in risk management techniques, project or program managers who wish to improve their skills in this area, financial planning and analysis practitioners in charge of developing project budgets and contingency plans.

How to Obtain PMI-RMP® Certification

To obtain the PMI-RMP® Certification, interested candidates must first fill out the online application form available on the PMI® website. After reviewing your application, the Project Management Institute will respond within five working days. If your application is not chosen for auditing, you will be notified that you must pay the examination fee.

After PMI® accepts the credential fee, the application procedure is said to be complete, and the candidate can begin preparing for the examination. When a candidate is deemed eligible for the exam, they typically receive an email with the following information:

• The candidate's unique PMI® Eligibility ID
•  The time period during which the candidate will be eligible to take the exam
•  Exam schedule instructions

PMI-RMP Certification Benefits

To improve the project success rate 

What's your organization's project success rate? What's thirty percent? Fifty-fifty? The ability to identify and assess risks, mitigate threats, and capitalize on opportunities, is provided by project risk management.

To help the organization’s risk management, top to bottom 

Identifying, evaluating, responding to, and monitoring risks are always part of risk management. Furthermore, these processes can be applied at various organizational levels, including the enterprise, departments or business units, portfolios, programs, and projects.

To increase career opportunities

If you've been looking for a job in project management recently, you've probably noticed that many employers are looking for certified project managers. Having a second certification opens up more opportunities for project managers, similar to having a double major. Employee compensation surveys show that certified project managers earn more than uncertified project managers.

To boost knowledge and expertise

Any time we invest in ourselves by concentrating on our careers is time well spent. As a result, we'll get better at what we do. Learning practical tips, tools, and techniques has come from studying and applying risk management principles.

Other benefits include:

1. It covers all fundamental aspects of Project Risk Management because it focuses on all exam points.
2. RMP certification enables you to demonstrate your abilities to your employer, colleagues, and customers.
3. It assists you in increasing your salary.
4. It assists you in finding more job opportunities by adding new qualifications to your resume.
5. It contributes to your credibility.
6. It enables you to be recognized for your project management abilities worldwide.
7. It helps to improve your skills and demonstrate your ability to handle challenging projects.
8. It officially recognizes you as a certified professional.
9. It improves your chances of being recognized on a global scale.

Candidates must participate in the Continuing Certification Requirements program after receiving the PMI-RMP® credential to maintain their active certification status.

The PMI-RMP® Certification cycle expires after three years, and professionals must maintain the credential by completing 30 professional development units (PDUs). After completing one, a new three-year cycle begins. As a result, it is a continuous process aimed at constant knowledge enhancement.