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PMI-RMP PMI Risk Management Professional (PMI-RMP) Exam is now Stable and With Pass Result | Test Your Knowledge for Free

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PMI-RMP Practice Questions

PMI Risk Management Professional (PMI-RMP) Exam

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Total Questions : 278

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Question # 41

A mega facility development project is evaluating some options to achieve the project schedule and budget. Each option ' s success is driven by multiple quantifiable factors.

What should the project manager do to evaluate and select the best option based on costs and probabilities?

Options:

A.  

Perform a FMECA fault tree analysis

B.  

Conduct a sensitivity analysis

C.  

Perform a decision tree analysis

D.  

Conduct an analytic hierarchy process

Discussion 0
Question # 42

A risk manager is tasked with establishing a risk management strategy for a multinational project with varying regulations and stakeholder priorities. The team is divided on how to approach risk management. Some suggest implementing rigid procedures to ensure consistency across regions, while others advocate for a flexible approach to adapt to the dynamic nature of local risks. Meanwhile, the sponsor emphasizes the need for a strategy that aligns with the overall project objectives.

What should the risk manager do?

Options:

A.  

Implement a strict, standardized approach to ensure consistency across all regions.

B.  

Develop a strategy combining structure with flexibility to address global and local uncertainties.

C.  

Use organizational guidelines to create a strategy that prioritizes efficiency over adaptability.

D.  

Adopt a fully flexible approach that allows teams to manage issues based on local context.

Discussion 0
Question # 43

A project team does not understand why a very low probability risk occurred during project execution. The team was especially vigilant about planning for this type of risk during the risk planning phase. The project has been delayed by 2 months, and the stakeholders are considering canceling the project. The risk manager needs to demonstrate that the project can be concluded.

Which analysis should the risk manager perform to demonstrate this to the stakeholders ' ?

Options:

A.  

Monte Carlo analysis

B.  

Pareto analysis

C.  

Ishikawa analysis

D.  

Qualitative risk analysis

Discussion 0
Question # 44

As a project approached completion, a risk manager conducted a risk response audit and verified the effectiveness of risk responses. What should the risk manager do next?

Options:

A.  

Close and communicate the results of the risk response actions.

B.  

Run a workshop to analyze the effectiveness of the risk plan.

C.  

Conduct a risk reserve analysis and document the results.

D.  

Verify that all risk response actions have been documented. 

Discussion 0
Question # 45

A risk manager of a complex project has identified a risk and believes a deeper understanding of the source and likelihood is necessary. How should the risk manager proceed?

Options:

A.  

Develop and employ an Ishikawa diagram

B.  

Analyze the assumptions and constraints

C.  

Perform a review of project documents

D.  

Create prompt lists for expert interviews

Discussion 0
Question # 46

A risk manager is working on the risk management plan for a new digital platform and realizes the project sponsor, who is the IT manager, has not been invited to the project team meetings. The IT manager is concerned that the IT infrastructure is unable to host the new platform the team is creating. The risk manager asks the IT manager to be included in the meetings.

What should the IT manager ' s role be in the project team meetings?

Options:

A.  

The IT manager should be included as a risk owner.

B.  

The IT manager should refine the project baseline plans.

C.  

The IT manager should be added as a project sponsor.

D.  

The IT manager should lead the infrastructure execution.

Discussion 0
Question # 47

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 # 48

After starting a new pipeline project, a risk manager schedules an initial meeting with the project sponsor. For the meeting, the project sponsor requests a presentation of the risks that have the most impact on achieving the project objectives.

What should the risk manager do to facilitate the sponsor ' s ask?

Options:

A.  

Monte Carlo analysis

B.  

Qualitative risk analysis

C.  

Sensitivity analysis

D.  

Quantitative risk analysis

Discussion 0
Question # 49

When selecting strategies as an activity of Plan Risk Response, what is the overall goal?

Options:

A.  

Select the strategies with the least overall impact to resources.

B.  

Select the strategies with the least financial impact.

C.  

Select the strategies with the greatest overall positive influence.

D.  

Select the strategies with the greatest benefit to stakeholders.

Discussion 0
Question # 50

A company in the mining industry accommodates a lot of innovation and changing work conditions. Because of this, the company experiences difficulty in predicting long term business plans.

How should a professional risk manager manage the risks in such situations?

Options:

A.  

Adopt a predictive approach to manage the risks.

B.  

Adopt agile approaches to manage the risks.

C.  

Utilize proper documentation to help manage the risks.

D.  

Conduct weekly risk management meetings with all stakeholders.

Discussion 0
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