Sunday, October 20, 2019

What's New - I Want To Be A RMP Book, Second Edition




I've received calls and mails from 2018 on the PMBOK guide's edition to be used for Project Management Institute's (PMI®) Risk Management Professional (RMP®examination. In fact, I started writing on the new book for PMI-RMP Exam this year, after confirming with PMI that the PMBOK® Guide 6th edition will be used. This post outlines the main references for the PMI-RMP examination and what's new in the content of the book - "I Want To Be A RMP", 2nd edition.

PMI's website clearly informs that for the RMP exam the latest edition of the PMBOK guide will be used. 

Also, I checked with PMI on the applicability of the new Risk Management Foundational Standard for Portfolios, Programs and Projects. PMI confirmed that it will be referred.

Now, let's know what are the new and enhanced content for the book:
I Want To Be A RMP, 2nd Edition 




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1. Refers the LATEST edition of the PMBOK Guide. 
Yes, the PMBOK Guide, 6th edition will be for referred the RMP exam. This also as per PMI website. There should not be any confusion regarding this. 

Do note that PMBOK Guide 6th edition has larger coverage compared to PMBOK Guide 5th edition. 

2. Refers the NEW Foundational Standard for Risk Management in Portfolios, Programs and Projects.
This standard was released in mid-2019. This standard emphasizes on enterprise risk management. This, as per PMI, will also be referred.

3. NEW process of "Implement Risk Responses", which is introduced to Risk Mangement.
This is a completely new process that has been added into the PMBOK 6th edition. Obviously, it directly impacts risk management.

4. NEW set of tools and techniques.
A number of tools and techniques are new. For example:
  • in Risks identification, we have Crawford method, Kipling method among others.
  • in Perform Qualitative Risk Analysis, there are new set of risk assessment parameters, risk bubble chart among others.
  • in Perform Quantitative Risk Analysis, new areas such as representation of uncertainties, etc.

5. ENHANCED coverage on the impact of Risk Management on other Knowledge Areas of the PMBOK Guide.
This changes the aspects, e.g., a number of new documents are added in the latest addition of the PMBOK Guide - Issue Log, Assumption Log, Lessons Learned Register etc. These are all used in the Risk Management Knowledge Area.

A NEW Risk Report has been introduced, which is created in Risk Management knowledge area, but flows across many other knowledge areas.

6. ENHANCED content for Probabilistic Distribution.
In addition to existing distributions, you need to know others, e.g., Cumulative Distribution. Cumulative distribution is foundational to interpret results of Simulations, e.g., Monte Carlo simulations.

7. NEW content for Probabilistic Branching and Correlation.
This is newly added to the PMBOK Guide, 6th edition. It is a must know for quantitative risk analysis. In the RMP exam prep book, these has been exaplained with examples.

8. NEW content for Analytic Hierarchical Process (AHP) with a real-time example.
Analytic hierarchical process has been there in the Practice Standard for Risk Management and also now in the new Foundational Standard for Risk Management. This content has been newly added to the book. Previous RMPs have informed that questions came on this area.

9. NEW content for Risk management in Agile Environment. 
You now have to know how risk management happens in agile environment. It is there both in the PMBOK Guide and also in Foundational Standard for Risk Management. 

10. NEW risk types and classifications.
The 4-quadrant risk classification has been newly introduced which brings a new of risks, i.e., emergent risks. You also have event based and non-event risks with introduction of variability risks and ambiguity risks. 

These are among many others such as Data Analytics, changed areas in Residual Impact Analysis etc. 

For overall details of book, please refer:
https://www.managementyogi.com/p/books.html


New Book for RMP Exam Prep:



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