Project Risk Management Professional Credential

1. Project Risk Management Professional Credential ArpatOmur, PMP, PMI-RMP cnsltnt@gmail.com

2. Worldwide Status of Projects • Business becoming increasingly projectized • Global spending on projects many billions of $’s • Common experience is that many projects fail • What makes projects behave in a different way from our expectations?

3. The Problem? • Track record of projects are poor, particularly for larger and difficult ones • Study after study has shown real budget increases of up to 90% • Researchers claim that traditional project management is simply counterproductive in big, complex and fast tracking projects, i.e. it creates self-inflicted problems

4. Importance of Managing Risks • Experienced project managers include effective risk management in their project plans and execute ‘Successful Projects’ • These projects do not represent a majority in the organization’s business-lack of consistency • “Hail The Hero” syndrome needs to be eliminated • Organizations need to establish risk management as their culture to execute successful projects in a consistent manner

5. Need for Trained Risk Management Professionals • Organizations need trained and experienced Risk Management Professionals (RMP) to start and maintain an effective risk management culture • Credentialing process is one of the factors that plays a role in separating qualified individuals for this position

6. Need for Trained Risk Management Professionals • All PM’s in an organization don’t need to have RMP credentials to execute successful projects • One Risk Manager, with proper experience and credentials, can support several projects and train the project teams, as required • RISK MANAGEMENT IS NOT A SEPARATE, INDEPENDENT FUNCTION IN PROJECT MANAGEMENT, I.E. RISK MANAGER’S BASIC RESPONSIBILITY IS TO SUPPORT THE PROJECT MANAGER

7. Some International Certifying Agencies • PMI-Project Management Institute • ISACA- Information Systems Audit and Control Association • PRMIA-Professional Risk Manager’s International Association • RMIA-Risk Management Institute of Australia • OGC-Office of UK Government Commerce • IRM-Institute of Risk Management • APM-Association for Project Management

8. International Risk Certificates Certified in Risk and Information Systems Control (CRISC) Certification The first CRISC exam will be administered in the second half of 2011.

9. PMI-RMPRisk Management Professional Credential The PMI Risk Management Professional (PMI-RMP) credential recognizes demonstrated skill and expertise in project risk management including identifying and assessing project risks, formulating plans to anticipate threats, and capitalizing on opportunities

11. 2009

12. What type of certification would you value?(Top 2 - Very interested and interested)

13. PMI’s Process to Develop Exam Spec • Define responsibilities of recipients of credential (Role Delineation Study) • Establish what individuals who manage project risk actually do on the job • Specify performance areas (domains) • Prepare content-valid, multiple-choice exam, drawing questions from every important area of the profession

14. PMI’s Process to Develop Exam Spec • Exam question preparers have been selected from four major regions of the world (as currently defined by PMI): • EMEA (Europe, Middle East and Africa) • Asia Pacific • Latin America • North America

15. PMI’s Mission • PMI will expand the levels and types of credentials and position them to meet the demands of the marketplace • PMI will maintain standardized credentialing practices globally and drive innovative solutions that address regional and local stakeholders’ needs

21. Process • Steps to Obtaining Credential: Application process + multiple-choice exam • Exam Information: 3.5 hours; 170 questions • Fees: $520 for PMI members; $670 for non-members • Credential Maintenance Cycles and Requirements: 3 years; 30 PDUs in risk management

22. Exams • Domains and questions prepared by an international group of subject matter experts • Initial Credential Steering Committee (now called the Credential Committee is chaired by PMI and has 6members with following nationalities: • (2) U.S. • (1) Brazilian • (1) South African • (1) Indian • (1) Australian

23. Relative Weightings/Domain

24. Domain I Risk Communication

25. Domain I Risk Communication

26. Domain I Risk Communication

27. Domain I Risk Communication

28. Domain II Risk Analysis

29. Domain II Risk Analysis

30. Domain II Risk Analysis

31. Domain II Risk Analysis

32. Domain III Risk Response Planning

33. Domain III Risk Response Planning

34. Domain III Risk Response Planning

35. Domain IV Risk Governance

36. Domain IV Risk Governance

37. Domain IV Risk Governance

38. Domain IV Risk Governance

39. Domain IV Risk Governance

40. Domain IV Risk Governance

41. Domain IV Risk Governance