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PMI-RMP Practice Questions

PMI Risk Management Professional (PMI-RMP) Exam

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Total Questions : 333

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Question # 21

After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

Options:

A.  

Probability of a response triggering a secondary risk

B.  

How the response will affect the quality of the components

C.  

If the risk response is tied to an activity on the critical path

D.  

Verify due dates for the actions have been identified

Discussion 0
Question # 22

A new risk manager is assigned to an ongoing project, what should the new risk manager do first to assess the project environment?

Options:

A.  

Review potential next steps with the project team.

B.  

Review the scope of work to determine the prescribed project methodology.

C.  

Review the policies and practices that are outlined in the risk management plan.

D.  

Review the contract and determine the resources and project funding.

Discussion 0
Question # 23

A risk manager administered a pre-workshop risk survey in preparation for the upcoming workshop. The workshop invitees participated in the survey and submitted many risks encompassing all project phases and risk areas. The risk manager sorts risks by similarities and categories for the workshop.

What should the risk manager do next to visually organize the risks?

Options:

A.  

Develop an affinity diagram

B.  

Perform the analytical hierarchy process

C.  

Perform a SWOT analysis

D.  

Assign probability and impact

Discussion 0
Question # 24

A company has a project whose objective is to extract gold reserves from Field 1. However, another field closest to the company. Field 2, which has a higher probability of having twice as much gold reserves than Field 1. The risk manager requests the board of Directors to include Field 2 under the scope of the current project by management of change because the project ' s profitability will increase by 80%.

What type of request is the risk manager describing?

Options:

A.  

A request to increase project earnings

B.  

A request to increase project resources

C.  

A challenge to stakeholder thresholds

D.  

A challenge to the project investment 

Discussion 0
Question # 25

A new project to develop a custom software solution for a high-profile client is being initiated. The project sponsor emphasizes the importance of delivering the solution on time and within budget, as this project could lead to significant future opportunities. The risk manager recognizes that the team lacks a standardized approach to managing risks and that some team members are unfamiliar with risk management practices.

What should the risk manager do?

Options:

A.  

Ask the sponsor to define the risk strategy to align with client needs.

B.  

Develop a framework and engage the team in creating a risk plan.

C.  

Train the team on basic techniques and defer the risk strategy for later.

D.  

Concentrate on high-priority risks to meet the sponsor ' s expectations.

Discussion 0
Question # 26

A risk manager is preparing for the first meeting with their project sponsor on a potential project for a large client. The risk manager reviews their newly developed project risk register to identify any risks that should be analyzed further and begins by prioritizing the probability column based on the following criteria:

1 = Very Low

2 = Low

3 = Medium

4 = High

5 = Very High

What type of risk analysis is the risk manager performing?

Options:

A.  

Scenario-based risk analysis

B.  

Quantitative risk analysis

C.  

Qualitative risk analysis

D.  

Monte Carlo analysis 

Discussion 0
Question # 27

A large, land-based infrastructure project has begun. The project makes assumptions about the site conditions and has economic, technical, and environmental constraints

What should the project manager do next to determine risk impact of assumptions and constraints?

Options:

A.  

Add all assumptions and constraints to the risk register.

B.  

Add the risk impact of the assumptions in the risk register.

C.  

Add the assumptions and constraints to the assumption log.

D.  

Add the assumptions and constraints in the project charter.

Discussion 0
Question # 28

An organization is executing two projects — Project A and Project B — simultaneously. A previously identified risk will impact the schedule for Project

A.  

While executing the mitigation plan, a number of residual risks are identified that could provide cost savings for Project

B.  

Which action should the risk manager for Project A take?

Options:

A.  

Review the findings in Project A ' s closure documents and propose a new organizational process for portfolio risk management.

B.  

Consult with Project B ' s risk manager and determine where synergies might exist between the risk management plans for both projects.

C.  

Combine the risk registers for Project A and Project B and determine if there are any additional cross-project opportunities to exploit.

D.  

Continue executing the planned risk mitigation to avoid any additional schedule impact to Project

A.  

Discussion 0
Question # 29

After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a 2-week delay in the project.

How could the risk manager have avoided the board ' s response?

Options:

A.  

Engaging the key stakeholders during the prioritization process

B.  

Prioritizing the risks based on the project sponsor ' s risk appetite

C.  

Engaging with the project sponsor before presenting to the board

D.  

Working with an established industry standard prioritization method

Discussion 0
Question # 30

A project team is concluding the first monthly meeting on a new engineering project, with regular review of project risks. Which document should the risk manager update to reflect the risks ' current status?

Options:

A.  

Maintain the risk response plan and continuously monitor actions taken to mitigate risks.

B.  

Ensure that the risk management plan is reviewed to incorporate adjustments in risk strategies.

C.  

Revise the risk register to reflect changes in risk status and include new mitigation actions.

D.  

Update the project schedule to reflect the impacts of risks and adjustments to timelines.

Discussion 0
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