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PMI-RMP Practice Questions

PMI Risk Management Professional (PMI-RMP) Exam

Last Update 3 days ago
Total Questions : 333

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Question # 71

In a large enablement project with strict time lines, risks need to be closely monitored. The risk manager publishes reports comparing planned enablement sessions with actual enablement sessions, which help identify potential risks to be addressed.

Which technique is the risk manager using?

Options:

A.  

Variance analysis

B.  

Residual impact analysis

C.  

Sensitivity analysis

D.  

Reserve analysis 

Discussion 0
Question # 72

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options.

What should the risk manager do?

Options:

A.  

Perform a sensitivity analysis.

B.  

Perform a qualitative risk analysis.

C.  

Perform a constraint analysis.

D.  

Perform a root-cause analysis. 

Discussion 0
Question # 73

During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be

mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.

Which action should the risk manager take to address this risk?

Options:

A.  

Accept the identified risk because other stakeholders feel that there are higher priority risks to address.

B.  

Mitigate the identified risk in order to reduce the probability of impacting the stakeholder ' s team.

C.  

Escalate the identified risk to the project sponsor and allow them to determine the best course of action.

D.  

Add the identified risk to the risk register for future probability and impact analysis.

Discussion 0
Question # 74

During a project meeting, the project sponsor asks to close a project risk. The team does not recommend closing the risk because it is expected to be present in the next phase of the project work.

How should the risk manager address this concern?

Options:

A.  

Compare the actual data with the historical data.

B.  

Compare the actual data with the subject matter expert (SME) criteria.

C.  

Compare the actual data with the risk baseline.

D.  

Compare the actual data with the project sponsor ' s expectation.

Discussion 0
Question # 75

A project manager for a large product development project assigned a risk manager to perform the risk management. The project sponsor questions why this project requires a risk manager as it is similar to a previous project with a developed risk strategy.

How should the risk manager explain the need for a risk strategy specific to this project?

Options:

A.  

A risk strategy is a best practice and ensures quality in the project planning.

B.  

A project specific risk strategy includes enough information to respond to audits and compliance requirements.

C.  

A risk strategy ensures alignment of the organizational structure to the specific project.

D.  

A risk strategy aligns individual project risk thresholds with organizational risk appetite. 

Discussion 0
Question # 76

A project manager of an IT company is assigned to a project whose schedule may be delayed due to a lack of resources to conclude the backlog activities. The project manager decides to hire additional developers to reduce the project ' s technical debt and meet the project deadline.

What should the risk manager advise the project manager to do to address this situation?

Options:

A.  

Immediately hire as soon as the project begins to fall behind schedule.

B.  

Hire as soon as the project metrics trigger a risk response.

C.  

Only hire when it is economically feasible to do so.

D.  

Only hire if risk response is escalated and approved by the stakeholders. 

Discussion 0
Question # 77

Which statement describes the risk portrayed on the risk matrix heat map below?

Options:

A.  

The risk has a probability of 60% of occurrence and a medium impact rating.

B.  

The risk has a probability of 40% of occurrence and a high impact rating.

C.  

The risk has a high impact and probability of occurring.

D.  

The risk has a low probability and high impact rating.

Discussion 0
Question # 78

A project team has just completed a project plan, which includes extra days for most of the critical activities to cover any possible issues. Stakeholders want to remove these additional days, because the end date is longer than expected.

What should the risk manager do first?

Options:

A.  

Remove the activity padding.

B.  

Review the risk response plan.

C.  

Update the risk contingency plan.

D.  

Update the schedule constraints. 

Discussion 0
Question # 79

Many customers using the global positioning system (GPS) of several automobile companies are complaining about errors due to a recent update. This update included a major technological change to mitigate emerging risks with software deployment. Upon investigation, the risk manager realized that this issue was identified as a high-risk item during risk analysis, which required secondary risk identification that was never completed.

What was missed in the risk management process that led to this incident?

Options:

A.  

The identification of the business driver.

B.  

The new technology ' s impact on existing controls

C.  

The risk management strategy quality assurance.

D.  

Project environmental factors

Discussion 0
Question # 80

A risk manager schedules workshops for identifying risks about an initiative involving multiple business units, recruitments for different roles, procurements, technological uplift, training, and changes in the ways of working. Who should participate in the risk management activity?

Options:

A.  

Core project team

B.  

Internal and external stakeholders

C.  

Key business stakeholders

D.  

Internal stakeholders only

Discussion 0
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