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Project Management Professional PMI-RMP Exam and Certification Test Engine
PMI-RMP (PMI Risk Management Professional) certification exam is designed to test the candidate's knowledge and skills in risk management. PMI Risk Management Professional certification is offered by the Project Management Institute (PMI), which is a globally recognized organization for project management professionals. The PMI-RMP certification is one of the most sought-after certifications for professionals who are involved in risk management.
NEW QUESTION # 10
Thomas is a key stakeholder in your project. Thomas has requested several changes to the project scope for the project you are managing. Upon review of the proposed changes, you have discovered that these new requirements are laden with risks and you recommend to the change control board that the changes be excluded from the project scope. The change control board
agrees with you. What component of the change control system communicates the approval or denial of a proposed change request?
- A. Configuration management system
- B. Change log
- C. Scope change control system
- D. Integrated change control
Answer: D
NEW QUESTION # 11
As a result of the Control Risk process, the project manager updates the project risk documents using outcomes from which of the following?
- A. Risk assessments and risk audits
- B. Risk reviews and risk register analysis
- C. Risk reserve analysis and risk thresholds
- D. Risk response strategies and risk analysis
Answer: D
NEW QUESTION # 12
What are critical success factors for the Plan Risk Responses process?
- A. Define roles and responsibilities, address threats and opportunities, address interaction of risks and responses, and specify timing of responses
- B. Define roles and responsibilities, address threats and opportunities, categorize risk causes, and addresses interaction of risks and responses
- C. Identify appropriate project model, define roles and responsibilities, address threats and opportunities, and addresses interaction of risks and responses
- D. Collect high-quality information about risks, address threats and opportunities, address interaction of risks and responses, and specify timing of responses
Answer: A
NEW QUESTION # 13
The project team is updating the risk register with the minimum acceptable level of exposure and impact for each risk. The team also wants to determine if they have reached the maximum level of exposure before they escalate the risk.
What should the team perform in this scenario?
- A. Risk urgency assessment
- B. Monitor and control risks
- C. Quantitative risk analysis
- D. Risk response planning
Answer: C
Explanation:
Explanation
Quantitative risk analysis helps determine the minimum acceptable level of exposure and impact for each risk.
It also helps to understand if the maximum level of exposure has been reached before escalating the risk.
(Reference: PMBOK Guide, 6th Edition, p. 423)
NEW QUESTION # 14
There are four inputs to the Monitoring and Controlling Project Risks process. Which one of the following will NOT help you, the project manager, to prepare for risk monitoring and controlling?
- A. Project management plan
- B. Change requests
- C. Work Performance Information
- D. Risk register
Answer: B
NEW QUESTION # 15
You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?
- A. Identify Risks
- B. Plan Risk Responses
- C. Plan Risk Management
- D. Define Scope
Answer: A
Explanation:
Explanation
NEW QUESTION # 16
A project manager is creating a risk management plan, but participants in a group meeting are hesitant to express their concerns. What will encourage participants to offer their opinions?
- A. Interviews
- B. Brainstorming
- C. Nominal group technique
- D. Monte Carlo simulation
Answer: C
NEW QUESTION # 17
The project enters a testing phase to validate a project requirement. The testing is occurring in a common company testing area maintained by operations. The project team accepts the external customer's additional testing requirements, which may cause a slip in the schedule. A risk is identified, added to the risk register, and a response is developed.
What is the next step to be completed?
- A. Resist the customer's scope increase to maintain the original testing requirements.
- B. Hire more resources to ensure the original schedule is maintained.
- C. Inform the external customer that the project manager has added the schedule risk to the register.
- D. Communicate and monitor the risk response with testing and operations.
Answer: D
NEW QUESTION # 18
John works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?
- A. Risk management plan
- B. Schedule management plan
- C. Activity duration estimates
- D. Activity cost estimates
Answer: C
NEW QUESTION # 19
You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?
- A. Once per project life cycle phase
- B. Vary depending on the situations within the project
- C. Monthly
- D. Quarterly
Answer: B
NEW QUESTION # 20
The risk management process can be defined as which of the following?
- A. Iterative throughout the entire project
- B. Updated in the execution phase
- C. Iterative through the planning phase
- D. Baselined at the beginning of execution
Answer: A
NEW QUESTION # 21
Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines?
- A. Risk responses protect the time and investment of the project.
- B. Baselines should not be updated, but refined through versions.
- C. New or omitted work as part of a risk response can cause changes to the cost and/or schedule baseline.
- D. Risk responses may take time and money to implement.
Answer: C
NEW QUESTION # 22
An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.
What is the current project risk exposure?
- A. US$30,000
- B. US$72.000
- C. US$18,000
- D. US$48,000
Answer: B
Explanation:
Explanation
The current project risk exposure can be calculated as follows: Risk A: 0.6 (probability) x US$50,000 (impact)
= US$30,000 Risk B (after response): 0.3 (probability) x US$60,000 (impact) = US$18,000 Total risk exposure: US$30,000 (Risk A) + US$18,000 (Risk B) = US$72,000
NEW QUESTION # 23
What identification technique is used to help reduce the ambiguity of a risk statement?
- A. Driver risk, outcome
- B. Cause, risk, effect
- C. Exploit, risk, accept
- D. Probability risk, impact
Answer: D
NEW QUESTION # 24
You are the project manager of the GHG project. You are preparing for the quantitative risk analysis process.
You are using organizational process assets to help you complete the quantitative risk analysis process. Which one of the following is NOT a valid reason to utilize organizational process assets as a part of the quantitative risk analysis process?
- A. You will use organizational process assets for information from prior similar projects.
- B. You will use organizational process assets to determine costs of all risks events within the current project.
- C. You will use organizational process assets for studies of similar projects by risk specialists.
- D. You will use organizational process assets for risk databases that may be available from industry sources.
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION # 25
Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of a risk threshold?
- A. It is a warning sign that a risk event is going to happen.
- B. It is a study of the organization's risk tolerance.
- C. It is a limit of the funds that can be assigned to risk events.
- D. It helps to identify those risks for which specific responses are needed.
Answer: D
NEW QUESTION # 26
You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated.
Which project management process is responsible for these actions?
- A. Risk identification
- B. Risk monitoring and controlling
- C. Risk analysis
- D. Risk planning
Answer: B
NEW QUESTION # 27
Rachel is the project manager of the KJH Project for her company. She needs a method to create a quick and simple approach to risk identification to communicate the project risk with the stakeholders. Which one of the following approaches to risk identification should Rachel choose to provide a quick and simple listing of the project risks?
- A. Checklist analysis
- B. Assumptions analysis
- C. Brainstorming
- D. Delphi Technique
Answer: A
NEW QUESTION # 28
Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?
- A. Configuration Management
- B. Scope Change control
- C. Monitor and Control risk
- D. Integrated Change control
Answer: C
NEW QUESTION # 29
Lamont is the project manager of a project that has recently finished the final project deliverables. The project customer has signed off on the project deliverable and Lamont has a few administrative closure activities to complete. In the project, there were several large risks that could have wrecked the project but Lamont and his project team found some creative methods to resolve the risks without affecting the project costs or project end date. What should Lamont do with the risk responses he identified during the project's monitoring and controlling process?
- A. Include the risk responses in the organization's lessons learned database.
- B. Include the risk response in the project risk management plan.
- C. Nothing. The risk responses are included in the project's risk register already.
- D. Include the responses in the project management plan.
Answer: A
NEW QUESTION # 30
You are the project manager for your company and a new change request has been approved for your project.
This change request, however, has introduced several new risks to the project. You have communicated these risk events and the project stakeholders understand the possible effects these risks could have on your project.
You elect to create a mitigation response for the identified risk events. Where will you record the mitigation response?
- A. Project management plan
- B. Risk management plan
- C. Risk register
- D. Risk log
Answer: C
NEW QUESTION # 31
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