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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 : 284

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Question # 51

The stakeholders of a building construction project are not comfortable with the project manager ' s handling of the project as they believe there is a financial risk. The project manager asks the risk manager to assist in demonstrating to the stakeholders that the project risks are under a tolerable threshold.

What should the risk manager do first to demonstrate this to the stakeholders?

Options:

A.  

Gather other project risk historical information.

B.  

Gather and reconcile project risk report data.

C.  

Work with the sponsor to convince the risks are under control.

D.  

Work with the team to ensure the project is in good health. 

Discussion 0
Question # 52

During a risk reassessment workshop with the project team and some external stakeholders, two key external stakeholders are overemphasizing the impact of a few project risks. This has led to a conflict.

How should the risk manager handle this situation?

Options:

A.  

Request for a skilled facilitator to help resolve conflicts that have arise.

B.  

Refer to the team’s ground rules on how to resolve conflicts.

C.  

Run a sensitivity analysis to check which risks have the most impact.

D.  

Use the assumption analysis techniques to validate the assumptions.

Discussion 0
Question # 53

A risk manager has to inform a project sponsor of the expected duration of an entire project. The project has three mam tasks, each with different probabilities of duration.

Which analytical tool should the risk manager use?

Options:

A.  

Probability tree diagram

B.  

Ishikawa diagram

C.  

Decision tree analysis

D.  

Monte Carlo simul-ation

Discussion 0
Question # 54

In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime. However, this action may lead to excessive additional cost.

What should the risk manager do?

Options:

A.  

Document the concern over the potential excessive additional cost.

B.  

Manage the potential excessive additional cost as a new risk.

C.  

Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.

D.  

Prepare a detailed response plan for the residual risk with a clear owner and time line to ensure there are no impacts to the project. 

Discussion 0
Question # 55

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 # 56

A project team working on a large software deployment project for a few months has been able to prevent a technical risk from occurring. However, an incident took place and triggered the technical issue.

What should the risk manager do?

Options:

A.  

Execute the risk response plan defined for the risk.

B.  

Postpone the software launch to sort out the technical issue.

C.  

Assess the impacts and define the response actions with the subject matter experts (SMEs).

D.  

Meet with the project manager to revisit the project schedule.

Discussion 0
Question # 57

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 # 58

A project team is preparing a project plan for a government-funded project with multiple stakeholders, including government employees. The project sponsor requests the risk manager estimates the potential costs associated with delays that may arise from government employees, due to bureaucratic processes and other administrative factors.

How should the risk manager approach this task?

Options:

A.  

Create a risk register to document all potential risks and estimated impacts, including delays due to government employees.

B.  

Develop a risk response plan that includes specific mitigation strategies for government-related delays.

C.  

Perform a quantitative risk analysis to determine the potential financial impact of government-related delays.

D.  

Conduct a qualitative risk analysis to assess the likelihood and impact of potential delays.

Discussion 0
Question # 59

An organization faces immense competition in the market and decides to accelerate a key project. What is the first action for the project risk manager to take?

Options:

A.  

Update the risk register

B.  

Meet with the project ' s stakeholders

C.  

Revise the risk management plan

D.  

Ensure sufficient resources are available

Discussion 0
Question # 60

An undocumented risk is realized during the rollout of a new product line important to the company. The product owner escalates this matter to the company president, who expects all risks to be documented in the project risk plan.

How should the risk manager address this concern?

Options:

A.  

Risks are documented to the practicable extent possible.

B.  

Probability of the risk was very low. so the risk was not documented.

C.  

Impact of the risk was assessed to be insignificant, so the risk was not documented.

D.  

A similar risk never occurred in the past, so it was not considered. 

Discussion 0
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