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

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Total 264 questions

During a project's planning phase, the project team identifies a potential supplier delay and marks it as a significant risk. A risk manager is tasked with effectively monitoring this risk.

What should the risk manager document as the risk trigger?

A.

The probability and impact rating of the supplier's delay on the project

B.

The response strategy, such as increasing inventory or finding an alternative supplier

C.

The specific event or condition, such as the supplier missing a delivery deadline

D.

The threshold for acceptable delay, such as a maximum of three days before impacting project milestones

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?

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. 

The project manager asks the risk manager to determine the initial risk assessment for a six month initiative that is about to kick-off. Which two artifacts will help the risk manager conduct the related analysis? (Choose two.)

A.

Work breakdown structure (W&S)

B.

Project organizational chart

C.

Configuration management plan

D.

Brainstorming

E.

Monte Carlo analysis

During a risk identification session, the risk manager notices that subject matter experts (SMEs) are reluctant to participate because some risks could expose the poor maturity of processes in other business units. Which risk analysis technique should the risk manager use?

A.

Strengths, weakness, opportunities, and threats (SWOT) analysis

B.

Delphi technique

C.

Decision tree analysis

D.

Probability impact matrix

A supplier Is delayed in delivering fuel for a project. The project manager anticipated this risk and is requesting fuel from another supplier. When speaking with the other supplier, a new risk appears because fulfilling the order will cause delays with several other projects.

After performing a detailed analysis, what should the risk manager do?

A.

Escalate the problem to the project sponsors.

B.

Execute the approved risk response plan.

C.

Negotiate with the supplier to resolve the problem.

D.

Assign a team member to update the issue leg.

A risk manager has been assigned to a project constructing a chemical laboratory. Unfamiliar with chemical laboratories, the risk manager is unsure of where to start objectively identifying risks.

What should the risk manager do?

A.

Import a risk register from other industry chemical laboratories.

B.

Define chemical laboratory safety risk thresholds.

C.

Review published operational experience reports.

D.

Draft threat and opportunity risks that come to mind.

A project team identifies that there is a probability of missing a key milestone in a project. The team wants to move forward with the risk response planning.

What should the risk manager complete first?

A.

The risk categorization

B.

The risk simul-ation

C.

The full risk description

D.

The risk response plan

A risk manager notices that a risk owner is facing challenges implementing their response strategy and the costs are significantly exceeding expectations. What is the first thing the risk manager should do?

A.

Highlight this situation to the project manager

B.

Conduct a cost-benefit analysis

C.

Change the risk response strategy

D.

Analyze the situation and meet with the risk owner

A project team is overseeing the construction of a new office building. The project is complex, involving multiple contractors, regulatory requirements, and a tight schedule. During a team meeting, the risk manager realizes that a formal risk identification exercise has not yet been conducted.

Given the project's complexity, what should the risk manager do?

A.

Wait until halfway through the project to identify risks, as most issues will be clear by then.

B.

Conduct the exercise with the key team members, excluding external stakeholders.

C.

Facilitate a risk identification exercise with key stakeholders, considering all factors.

D.

Focus only on identifying the most obvious risks to save time and project resources.

A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company's business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.

What should the project manager do next?

A.

Update the project management plan to add contingency.

B.

Perform an assumptions and constraints analysis.

C.

Complete an assessment and confirm the response with the sponsors.

D.

Implement mitigation measures for those risks.