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PMI PMI-RMP - PMI Risk Management Professional (PMI-RMP) Exam

Page: 8 / 8
Total 264 questions

The risk manager is facilitating risk planning activities with the team. The team is documenting all the check points along the way that might indicate delays on critical deliverables.

What is this an example of?

A.

Risk responses

B.

Risk triggers

C.

Risk registers

D.

Risk categories

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?

A.

Probability tree diagram

B.

Ishikawa diagram

C.

Decision tree analysis

D.

Monte Carlo simul-ation

At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response.

How should the project manager handle this situation?

A.

Outsource conducting the risk response plan to risk consultants.

B.

Ask functional managers to improve their risk register and process.

C.

Adjust the risk response plans to effectively handle the identified risks.

D.

Coach the functional groups on how to properly conduct the process.

A risk management professional is in the process of categorizing risks when a subject matter expert (SME) suggests categorizing the risks by their impact to the project objectives. Why should the risk management professional use this approach?

A.

To enable the team in identifying the specific causes of risks associated with project objectives.

B.

To ensure that project priorities are being appropriately factored into risk response plans.

C.

To determine there more attentive project leadership and organizational involvement is needed.

D.

To assign risks and risk severities to functional discipline and departments effectively.

A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the

client's vendor, which apparently has been causing all of the issues.

What should the risk manager do first?

A.

Enhance risk identification.

B.

Review the contingency reserves.

C.

Create a risk response plan.

D.

Review the risk registry.

A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.

What will be the main output of this meeting?

A.

Evaluating the project's probability of success

B.

Identifying threats and opportunities

C.

Evaluating the project's impact

D.

Performing a qualitative analysis

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?

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

A project team has completed the risk response plan for a newly identified major project risk. Some team members argue the plan does not totally eliminate the risk, considering the effort required to implement it, and feel the planned response should be thrown out altogether.

What should the risk manager do in this situation?

A.

Accept the response because there are no secondary risks were identified.

B.

The response plan should be discontinued and the risk should be accepted and dealt with if it occurs.

C.

Accept the residual risk as it is compatible with the organization's risk appetite.

D.

All identified risks must be addressed because they might significantly impact the project if they occur. 

A project is in the execution phase and involves large volumes of supplies. The project is the last phase of a 10-year initiative. The project sponsor asks the project manager to provide the performance report for the whole initiative.

Which analysis should the risk manager do to provide the project manager with the performance report?

A.

Time Series Analysis

B.

Regression Analysis

C.

Variance Analysis

D.

Monte Carlo AnalysisÂ