Monday, December 28, 2020

Updated Book: What’s New – I Want To Be A RMP, Second Edition


The book, I Want To Be An RMP, Second Edition has been available since last year. This book has helped many to successfully  achieve the PMI-RMP® credential. In fact, the book has seen 100% success rate so far, as I write this post.


Why the Updates?

Like any aspect of learning, risk management processes, principles, practices, and framework continuously evolve.  It brings in new practices, new principles and also updates on risk management software tools. Based on this, this book has seen continuous updates.

A traditional book in print rarely gets updated and if it is updated, the print cycle will be in months or years. This itself -- the inaction, because of inability -- is a risk, when the world of risk management changes frequently!

The book for Risk Management Professional Exam (RMP®) has seen frequent updates since its availability. These updates are possible, because all these books are hosted online. These updates are also important to know the latest practices or frameworks and stay up-to-date.

The updates for the RMP book are primarily driven by seven factors:

  • Availability or updates to existing guides: Risk management is based on guides, e.g., the PMBOK® guide, governance practice guides, risk management practice guides etc.
  • Availability or updates to existing standards: For example, updates to Risk Management standards.
  • New questions or ways to take the exam: New types of questions come in the RMP exam or new ways are introduced to take the exam.  
  • Emerging new practices: For example, some practices of Risk Governance or Enterprise Risk Management (ERM).  
  • Feedback from exam takers: Some successful RMPs write their exam experiences and inform on new types of questions. 
  • Updates on advanced or complex areas: For example, many times advanced concepts such as Contingency Reserve, Management Reserve, Simulations need further elaboration as readers request for it. 
  • Updates on Videos: Many times, I add additional videos with exercises and solutions so that exam takers get more practice and feel more confident. 

With this background, there have been continuous and frequent updates to the PMI-RMP Exam Prep: I Want To Be A RMP

All these updates are FREE for existing customers of the book.


What’s New in the Book – I Want To Be A RMP?

The book, I Want To Be A RMP, as noted before, has seen continuous updates. These are highlights for the new addition, and updates to the book. 

1. NEW section on Enterprise Risk Management (ERM)

Enterprise Risk Management (ERM) is an approach to manage the risk of the entire enterprise or organization. Any organization’s leaders must manage this risk to stay relevant and stay in the business. A new detailed section has been added. 

2. NEW section on Risk Governance

Risk governance is a highly misunderstood concept. To understand governance, you need to first understand the elements of any governance model. Another misconception is this: Governance exists only at the organizational level. Not correct. It can exist at multiple levels. A new section on Risk Governance elaborates on it.

3. NEW section on Risk Attitude Spectrum

Risk attitude is a foundational topic to know. While some associated risk terms such as risk seeker or risk averse are known, many aspects of Risk Attitude and terms remain unknown. For example, in the attitude spectrum, a stakeholder can have risk addicted, risk paranoid, among others. A new section on it has been added. 

To understand basics of Risk Attitude, you can check:

PMP Protein: Understanding Risk Attitude 

Though it’s written for the PMP aspirants, the concepts are useful and valuable for RMP aspirants, too. 

4. UPDATED section on Probabilistic Branching 

The existing section of probabilistic branching has been explained further. I’ve written about probabilistic branching many times before. You can read some of the associated articles noted below:

5. UPDATED with a number of tips and tricks.

A number of new tips and tricks have been added. In addition, as I frequently write on Risk Management topics, they have brought in new additions to the book.  

6. UPDATED formulas in the RMP Exam Formula Gold Cars

Formulas in the RMP Gold cards are updated, primarily with respect to quantitative risk analysis, probabilistic durations and models. Don’t assume that the RMP exam has few formulas. Particularly, in the context of project risk management, you have to know a number of formulas. 

Note: The formula gold cards of the book can be downloaded.

7. NEW section on Conditional Branching 

A new section on conditional branching has been added to the book. Probabilistic and conditional branching are different concepts, though they can be used together. Many take the two concepts as the same, which is not correct.

The book now gives detailed explanations with examples. 

8. NEW – A list of varieties of possible risks

In risk management, you can have varieties of risks. Some risks are frequently used. For example, you would have heard about known risk, unknown risks etc. But there are a number of other possible risks such as enterprise risks, aggregated risks etc. This new section consolidates them. I believe it will help you in the RMP exam.  

9. UPDATES to planning aspect of Risk Management

With a detailed explanation of enterprise risk management, it’s key to note that project risk management is integrated and linked to enterprise risk management. To make the link clear, the contents of Risk Management Plan and the ITTOs of Plan Risk Management process has been elaborated.

10. UPDATES to Book’s Index File

The index file is important to know the content of the book. As the book gets updated the index file also gets updated with clear highlighting for the NEW, as well as the UPDATED content. You will also know if any item has been removed. 


How Will I Know about the Updates?

Professinoals and people who want to purchase the RMP book, raise this question frequently. I understand this concern and below points clearly inform how to know about the updates.

  1. All changes will be clearly communicated to you via E-Mail. 
  2. Inside the book, the new ones will be highlighted as *** NEW ***, and the updates ones will be *** UPDATED ***. Green color coding will be there for these changes.
  3. All the previous updated mails are part of the RMP book, so that you are clearly aware of the new changes that have happened. 
  4. The index file of the book is also updated, because that gives you a quick view on the new/updated content. 
  5. For the new videos in the book, the videos are clearly noted as NEW, so that you are immediately aware of it. Yes, the RMP exam prep book also contains many videos. 
  6. For the new documents, the documents are cleared noted as NEW, too.
  7. A number of tips and revision reminders are also added along the content in the RMP exam prep book. They are also clearly highlighted.
  8. For any clarification or questions on these updates, you can ask your questions. You will definitely get a response. This one of the biggest advantages of having the book as I respond not only the queries on updates, but also your questions and clarifications.
  9. As noted earlier, all the new/updated content will be FREE of cost to you.

Conclusion

Almost every field of management is continuously evolving and bringing-in new practices, principles and knowledge. Risk Management is not different. In fact, with COVID19 pandemic, risk management is in focus. 

With these changes, the book – I Want To Be A RMP, also changes.

As far as I am aware, this is the only RMP Exam Prep book in the world, which sees continuous changes and updates. I firmly believe it enormously benefits all the readers of the book, helps them to prepare in a better way and gives them more confidence.

For overall details of book, please refer (first in the list):
https://www.managementyogi.com/p/books.html


New Book for PMI-RMP Exam Prep:


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