In today’s highly complex, litigation-prone business environment, individuals with the proven capability to assess risk and guide organizations to the best decision possible are in high demand. AACE International’s new Decision and Risk Management Professional (DRMP) certification program is designed to establish credentials that recognize professional expertise, skills and knowledge in the decision and risk management area of practice within cost engineering. If you desire to be recognized for your strong skills and knowledge in decision and risk management as it relates to their broad business and technical perspectives and senior-level experience in life cycle asset and project management, you should consider becoming a DRMP candidate.
Skills and knowledge range from analytical (e.g., statistics and modeling) to socio/psychological (e.g., risk elicitation and communication) to management (e.g. risk response planning and management). Candidates may include but are not limited to risk managers, decision and risk management consultants, capital program managers or planners, project managers, value engineers and any cost engineering professionals focusing on asset and project decision and risk management.
Summary of DRMP Certification Process
Candidates for the DRMP designation must meet these minimum requirements:
Experience requirements At least 8 full years of professional experience, of which up to 4 years may be substituted by a college/university degree. Related degrees include: engineering, building construction, construction technology, business, economics, accounting, construction management, architecture, computer science, mathematics, etc.
Submit Application Instructions and fees There are two steps in making a complete application for the DRMP certification exam: Apply & Make Payment and Submit Supporting Documentation.
STEP ONE: All candidates must apply and make payment online or submit a downloadable application with payment information provided. Certification fees are US$500 for AACE Members and US$625 for Non-Members. All fees are non-refundable.
STEP TWO: All candidates must submit experience/education verification documentation to AACE Certification Staff.
After we have received ALL of your information to complete an application, your eligibility to sit for the exam is reviewed before you are enrolled in the program. Once you have been cleared to sit for the exam and enrolled, you will receive written confirmation. If you have not completed all steps, you will be denied access to sit for the exam. All fees are non-refundable.
Pass the examination To become DRMP certified, an overall passing score of 70% must be achieved as determined by the Certification Board. Upon successfully passing the DRMP examination, a candidate will hold the DRMP designation for three years at which time you will have to recertify through the AACE International professional credit plan in order to retain the DRMP designation.
EXAM STRUCTURE
The DRMP exam contains multiple choice questions and a written memo assignment. The multiple choice questions and the written assignment scores are averaged together for an overall exam score. You must receive a minimum average of 70% in order to successfully pass the exam.
MULTIPLE CHOICE EXAM: The exam is delivered through computer based testing (CBT) and is comprised of multiple-choice and compound, scenario questions. The topics covered in the exam are: Basic Cost Engineering and Statistics (DRMP Study Guide Sections 1 and 4), Communication Competency, Economic Analysis, and DRM Practices (DRMP Study Guide Sections 2 and 3).
MEMO ASSIGNMENT: The memo assignment will allow the candidate to choose from an onscreen list of suggested scenarios and will require the candidate to demonstrate professional writing skills and a general knowledge around an estimating competency. The memo will be written in the text box provided onscreen and should demonstrate a candidate’s ability to organize thought and communicate effectively. The memo will need to be addressed properly, include a purpose statement, propose a solution with supporting details and include a closing statement.
The exam is closed book. Candidates are permitted to bring any style of calculator, including programmable calculators, to use during the exam.
If you want to know what our CBT exam will look like, please view the CBT Certification Exam Tutorial by selecting the link on the right hand side.
Recommended Study Materials
Most recommended texts, available in our Online Store:
Primary References
AACE’s DRMP Study Guide (to be available on, or after, October 22, 2012 – all registered candidate will be notified when available for purchase)
