Saturday, June 25, 2022

Updated Book: What’s New – I Want To Be A RMP, Second Edition in 2022


The Risk Management Professional (RMP) exam from the Project Management Institute (PMI) has completely changed with the new RMP examination content outline (ECO) of 2022, new reference guides such as Foundational Standard for Risk Management (explicitly mentioned for the first time), PMBOK Guide, 7th edition and other latest reference books.


The
book, I Want To Be An RMP, Second Edition has been available since December 2020 and has enabled many successful PMI-RMPs. The updated edition of the book: I Want To Be A RMP, is now fully aligned with the latest RMP exam.

Like any aspect of learning, risk management principles, domains, artifacts, models, practices, and methods continuously evolve. There are also new ways to manage the risks with software tools’ updates. Based on these, this book has seen continuous updates since its availability in 2020.


Why the Updates?

Traditional print-edition of books rarely get updated and if at all they get updated, the print cycle will be in a number of months or years. This itself 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. As the book is hosted online, the changes are frequent and rapid with continuous updates to customers. They are also important for you to know the latest guides, principles, practices or frameworks and stay up-to-date.

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

  • Availability or updates to existing standards: For example, in the new RMP exam, the Foundational Standard for Risk Management in Portfolios, Programs and Projects is mentioned as the first reference source, for the first time!

  • Availability or updates to existing guides: Risk management is based on guides, e.g., the PMBOK guide, 7th edition now a new reference source for the RMP exam. 

  • 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. For the new RMP exam, you now have multi-response questions.

  • Emerging new practices: For example, some practices in Risk Management considering Agile and/or Hybrid approach. 

  • 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 new concepts such as Risk-Adjusted ROI, Risk-Adjusted Backlog, Risk-Adjusted Plan etc.
    It also includes new frameworks or methods, e.g., Cynefin Framework. 

  • Updates on Videos: Many times, I add additional videos with exercises and solutions considering the complexity of the topic. 

You can refer the below link to know the top changes:

PMI-RMP Latest Exam from 2022 – Top 11 Changes to Know

With this background, there have been continuous and frequent updates to the 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 additions, and updates to the latest book. 

1. NEW sections for mapping the ECO’s Domains and Tasks to Risk Management Processes.

As mentioned in the beginning, the RMP exam content outline (ECO) has changed. Your exam blueprint will be set by the ECO. Hence, for every process of Risk Management, a mapping table has been provided in every chapter considering the domains-tasks-enablers of the ECO. This will enable you to understand the exam questions and structure and prepare accordingly.

2. NEW section for Twelve Project Management Principles.

The PMBOK guide, 7th edition has a radically different approach compared to the PMBOK, 6th edition. While PMBOK6 has a process-based approach, PMBOK7 has a principle-based approach with twelve principles. The 12 project management principles are now part of the book. Detailed explanations is available with a focus on risk management perspectives.

3. NEW section for Eight Performance Domains.

The PMBOK guide, 7th edition comes with eight performance domains (PDs), which are a group of related activities and functions critical to effective deliveries of project outcomes. The PMBOK guide, 7th edition is outcome (not output) focused. This book explains these PDs and keeps risk management in focus.

4. NEW section for Life Cycle and Development Approach Selection.

The new RMP ECO clearly informs about a number of possible life cycles – predictive, adaptive or hybrid. Hence, a new section on how to select a life cycle has been added. This also associates with one of the performance domains (PD) of PMBOK7 and it’s explained in the book.

5. NEW section for Uncertainty Performance Domain (PD).

A new section has been added for the Uncertainty PD, the 8th PD of the PMBOK guide, 7th edition. This PD is very important to know and understand uncertainty and associated areas such as ambiguity, complexity, volatility and of course, risk. As the PDs are guided by the new 12 project management principles, whenever needed clear explanation has been for the principles guiding the Uncertainty PD. 

6. NEW sections for Stacey’s Matrix and Cynefin Framework.

In the PMBOK guide, 7th edition there are two complexity models of Stacey’s Matrix and Cynefin Framework, which are specifically applied to the Uncertainty PD. Two new sections have been added for it and informs how they can be applied in Risk Management. 

7. NEW sections for Risk Management in Agile.

Agile and Hybrid approaches are now part of the RMP exam (as per ECO). Hence, needed explanations have been given on various Agile artifacts (Roadmap, Backlog, Iteration Backlog, Burndown Chart etc.) and how they will be used in risk management context. 

You will also have details on Agile (generic) events such as Planning, Daily Standups, Reviews and Retrospectives. You will know various (generic) roles in Agile such as Product Owner, Team Members and Team Facilitator.

8. NEW section for Servant Leadership.

Servant Leadership is a favored leadership style in Adaptive environments, though it can be employed in others. The PMBOK 7th edition includes it, so also the new RMP ECO, tacitly. Hence, a new section has been added. 

9. NEW section on Risk Management Process Interactions in Agile.

There are 7 processes for risk management as per the Foundational Standard for Risk Management. As agile/hybrid are clearly mentioned to be part of the exam (based on new ECO), a new section for interactions among the processes of risk management has been added. 

10. NEW sections for Agile in every Risk Management Process.

For all the risk management processes, from Plan Risk Management to Monitor Risks, a separate and dedicated section on Agile is added. This section informs how the related activities are conducted in an Agile environment. For example, considering Risk Monitoring, how does one monitor the risks in an Agile/Adaptive environment?

11. A number of NEW concepts for Risk Management.

Across the chapters of the book, as you proceed, you will learn a number of risk management concepts such as Risk-Adjusted Backlog (PMBOK7), Risk-Adjusted ROI, New Estimation Techniques, among others.

A new question set containing with questions and detailed answers is added to the book. Almost all the questions refer to the PMBOK Guide, 7th edition.

12. UPDATED with a number of tips and tricks and Book’s Index File.

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

The index file is important to know the latest 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.


Overall Content of the Book

  • Number of Chapters: 14 (12+2)
  • Number of Pages: 638 
  • Number of Questions: 456
  • Full-Length Question Sets: 3 [One additional question set + a new set on PMBOK7]
    • Three full length question sets. 
    • Each with 115 questions and detailed answers (total 345)
  • Number of videos: 15
  • Based on: Foundational Standard for Risk Management in Portfolios, Programs, and Projects, PMBOK Guide 7th edition, PMBOK Guide 6th edition, Practice Standard for Project Risk Management as needed, NEW Exam Content Outline (ECO) for the RMP exam, and other reference books.

How Will I Know about the Updates?

I face this question frequently from people who want to purchase the RMP book. 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 earlier 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 clearly noted as NEW, too.

  7. A number of tips and revision reminders are also added along with 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. 

  9. As noted earlier, all the new/updated content will be FREE of cost to you.


Conclusion

With these changes, the book – I Want To Be A RMP is now completely aligned with the latest RMP exam content outline, the Foundational Standard for Risk Management, PMBOK guide 7th and 6th editions as well as other reference books. 

As far as I am aware, this is the only RMP Exam Prep book in the world, this is the only book which is the latest and based on the new RMP exam. I firmly believe it’ll provide tremendous benefits for aspiring RMPs and risk management practitioners. 


RMP Exam Latest Changes (2022):


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