BCS Risk Management Practitioner vs PMI-RMP® — Which should you choose?
Lyndsay Collins & Bob Armstrong
08 May, 2024
In 2024, Gen AI is revolutionising Risk Management in core sectors such as Finance, Manufacturing, Health, and Security, driving demand for Risk Management certifications.
The BCS Practitioner Certificate in Risk Management (PCIRM) and the PMI Risk Management Professional (PMI-RMP®) are well-known, industry-recognised certifications we offer at Firebrand. Which one should you choose? Let's take a look.
What are BCS PCIRM and PMI-RMP®?
The BCS Practitioner Certificate in Risk Management (PCIRM) appeals to a wide range of professionals, including Risk Managers, IT professionals, Business Analysts, Project Managers, Security Professionals, and Compliance Officers. With its broad focus on Business and IT Risk Management, it offers a comprehensive understanding of risk across different organizational domains.
In contrast, PMI-RMP® is tailored specifically to individuals in the Project Management field, attracting Project Managers, Risk Management professionals, Program Managers, project team members, and consultants. Specializing in risk management within project environments, this certification aligns with the Project Management Institute's standards and is particularly valuable for those working in industries where project management is a key component.
How do these certifications differ?
1. Course length
At Firebrand, the BCS Risk Management course takes 4 days, while PMI-RMP® takes 3 days.
2. Prerequisites
There are no official requirements to attend the BCS Risk Management course; in contrast, to attend PMI-RMP®, delegates need to have a certain number of hours of Project Risk Management education and experience.
3. Course content
Both courses are comprehensive.
Their modules are:
- The concepts and framework of Information Risk Management
- Information Risk Management fundamentals
- Establishing an Information Risk Management programme
- Risk identification
- Risk assessment
- Risk treatment
- Presenting risks and business case
- Information risk monitoring
- Introduction
- PMI-RMP® Risk Management Framework
- Principles and Concepts
- Introduction to Project Risk Management Processes
- Plan Risk Management
- Identify Risks
- Perform Qualitative Risk Analysis
- Perform Quantitative Risk Analysis
- Plan Risk Responses
- Control Risks
4. Exams
At Firebrand, the BCS Risk Management (PCIRM) exam is included in the course price; in contrast, the PMI-RMP® exam is not. Delegates must go through a full application process with PMI to become eligible to take this exam.
Key points to consider
1. Which course best suits your career goals?
If you have a high level of experience in Risk Management, the PMI-RMP® credential will help validate your expertise and help you stand out to employers, stakeholders and peers. In contrast, BCS PCIRM is aimed at anyone who is involved in the areas of information security and information assurance.
2. Which course best suits your industry?
Consider the industries you are interested in or currently working in as well as the country or region you would like to work, as preferences may vary.
3. Which focus would you benefit from the most?
The BCS PCIRM may have a broader focus on business and IT Risk Management, making it suitable for professionals across different domains. In contrast, PMI-RMP® is specifically tailored for professionals in the Project Management field; it's an in-depth certification that focuses on Risk Management within the context of Project Management.
4. Which course content would be most useful to you?
The BCS certification may cover a range of Risk Management concepts applicable to various industries, whereas PMI-RMP® is aligned with the Project Management Body of Knowledge (PMBOK Guide), providing a standardized approach to Project Management.
5. What level of recognition do you need?
While BCS is a UK-based organization, its certifications are recognized internationally. However, the level of recognition may vary in different regions. In contrast, PMI-RMP® is recognised worldwide.
Final thoughts
Ultimately, both certifications have their merits, and the best choice depends on your circumstances and your specific needs, objectives, and career aspirations in the realm of Risk Management.
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