Best PMI-RMP Practice Exams and Preparation Materials, PMI Risk Management Professional

Question #1

Harry is a project manager of a software development project. In the early stages of planning, he and the stakeholders operated with the belief that the software they were developing would work with their organization's current computer operating system. Now that the project team has started developing the software it has become apparent that the software will not work with nearly half of the organization's computer operating systems. The incorrect belief Harry had in the software compatibility is an exampl

A. Issue

B. Assumption

C. Risk

D. Constraint

View answer

Correct Answer: ACDE

Question #2

Neil works as a project manager for SoftTech Inc. He is working with Tom, the COO of his company, on several risks within the project. Tom understands that through qualitative analysis Neil has identified many risks in the project. Tom's concern, however, is that the priority list of these risk events are sorted in "high- risk," "moderate-risk," and "low-risk" as conditions apply within the project. Tom wants to know that is there any other objective on which Neil can make the priority list for project risk

A. Risks may be listed by the additional analysis and response

B. Risk may be listed by the responses in the near-term

C. Risks may be listed by priority separately for schedule, cost, and performance

D. Risks may be listed by categories

View answer

Correct Answer: D

Question #3

You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?

A. Executing

B. Planning

C. Monitoring and Controlling

D. In any process group where the risk event resides

View answer

Correct Answer: C

Question #4

You are the project manager of the GYH project for your organization. Management has asked you to begin identifying risks and to use an information gathering technique. Which one of the following risk identification approaches is an information gathering technique?

A. Root cause analysis

B. Assumptions analysis

C. SWOT analysis

D. Documentation reviews

View answer

Correct Answer: B

Question #5

You are the project manager of the GHY project for your organization. You are working with your project team to begin identifying risks for the project. As part of your preparation for identifying the risks within the project you will need eleven inputs for the process. Which one of the following is NOT an input to the risk identification process?

A. Quality management plan

B. Cost management plan

C. Stakeholder register

D. Procurement management plan

View answer

Correct Answer: D

Question #6

You are the project manager of the GHY Project for your company. You have completed the risk response planning with your project team. You now need to update the WBS. Why would the project manager need to update the WBS after the risk response planning process? Choose the best answer.

A. Because of work that was omitted during the WBS creation

B. Because of new work generated by the risk responses

C. Because of risk responses that are now activities

D. Because of risks associated with work packages

View answer

Correct Answer: C

Question #7

You are interviewing members of a project team to test their understanding of the assigned risk responses as risk owners. You and the project manager are working together to evaluate the risk responses to determine their effectiveness in the project. What project management technique are you performing with the project manager in this scenario?

A. Risk audits

B. Stakeholder analysis as the project team is a stakeholder

C. Risk identification with the project team

D. Risk analysis

View answer

Correct Answer: A

Question #8

You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?

A. Monthly

B. Once per project life cycle phase

C. Quarterly

D. Vary depending on the situations within the project

View answer

Correct Answer: D

Question #9

Which of the following techniques examines the degree to which organizational strengths offset threats and opportunities that may serve to overcome weaknesses?

A. SWOT Analysis

B. Expert Judgment

C. Delphi

D. Brainstorming

View answer

Correct Answer: A

Question #10

A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?

A. Exploit

B. Mitigation

C. Transference

D. Avoidance

View answer

Correct Answer: C

Question #11

You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your project with your project team. How many risk responses are available for a positive risk event in the project?

A. Three

B. Four

C. Seven

D. One

View answer

Correct Answer: B

Question #12

Management has asked you to perform a risk audit and report back on the results. Bonny, a project team member asks you what a risk audit is. What do you tell Bonny?

A. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are

B. A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process

C. A risk audit is a review of all the risk probability and impact for the risks, which are still present in the project but which have not yet occurred

D. A risk audit is an audit of all the risks that have occurred in the project and what their true impact on cost and time has been

View answer

Correct Answer: D

Question #13

Which of the following processes looks at the complex web of actors, rules, conventions, processes, and mechanisms concerned with how relevant risk information is collected, analyzed and communicated, and how management decisions are taken?

A. Risk Communication

B. IRGC

C. Risk Response Planning

D. Risk Governance

View answer

Correct Answer: D

Question #14

John works as a project manager for ABD project. He and his team, are working on the following activities: Relative ranking or priority list of project risks Watchlists of low priority risk Trends in Qualitative Risk Analysis results On which of the following processes is John working on?

A. Perform Qualitative Risk Analysis

B. Plan Risk Management

C. Plan Risk Responses

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: A

Question #15

Management has asked you to perform a risk audit and report back on the results. Bonny, a project team member asks you what a risk audit is. What do you tell Bonny?

A. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are

B. A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process

C. A risk audit is a review of all the risk probability and impact for the risks, which are still present in the project but which have not yet occurred

D. A risk audit is an audit of all the risks that have occurred in the project and what their true impact on cost and time has been

View answer

Correct Answer: C

Question #16

Your organization, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?

A. Each risk reassessment should go into the same depth as the original risk assessment activity

B. The probability and impact of risk event should determine the level of reassessment throughout the project lifecycle

C. The amount of detail of repetition that is appropriate depends on how the project progresses relative to its objectives

D. The level of detail and reassessment should reflect the priority of the project

View answer

Correct Answer: A

Question #17

Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?

A. Resource management plan

B. Project plan

C. Project management plan

D. Risk management plan

View answer

Correct Answer: D

Question #18

Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

A. Estimating the average outcome

B. Model development

C. Decision making or the development of recommendations for decision makers

D. Increased understanding or quantification of the system

View answer

Correct Answer: BCD

Question #19

Which of the following components ensures that risks are examined for all new proposed change requests in the change control system?

A. Risk monitoring and control

B. Scope change control

C. Integrated change control

D. Configuration management

View answer

Correct Answer: A

Question #20

Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?

A. Monitor and Control risk

B. Configuration Management

C. Integrated Change control

D. Scope Change control

View answer

Correct Answer: A

Question #21

John works as a project manager for ABD project. He and his team, are working on the following activities: Relative ranking or priority list of project risks Watchlists of low priority risk Trends in Qualitative Risk Analysis results On which of the following processes is John working on?

A. Perform Qualitative Risk Analysis

B. Plan Risk Management

C. Plan Risk Responses

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: D

Question #22

Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?

A. It helps the project team realize the areas of the project most laden with risks

B. It saves time by collecting the related resources, such as project team members, to analyze the risk events

C. It can lead to developing effective risk responses

D. It can lead to the creation of risk categories unique to each project

View answer

Correct Answer: B

Question #23

Lamont is the project manager of a project that has recently finished the final project deliverables. The project customer has signed off on the project deliverable and Lamont has a few administrative closure activities to complete. In the project, there were several large risks that could have wrecked the project but Lamont and his project team found some creative methods to resolve the risks without affecting the project costs or project end date. What should Lamont do with the risk responses he identifie

A. Include the risk response in the project risk management plan

B. Include the responses in the project management plan

C. Nothin

D. The risk responses are included in the project's risk register already

E. Include the risk responses in the organization's lessons learned database

View answer

Correct Answer: A

Question #24

What project management plan is most likely to direct the quantitative risk analysis process for a project in a matrix environment?

A. Risk analysis plan

B. Staffing management plan

C. Human resource management plan

D. Risk management plan

View answer

Correct Answer: D

Question #25

You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?

A. IRGC addresses questions such as the understanding of the secondary impacts of a risk

B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks

C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks

D. IRGC is both a concept and a tool

View answer

Correct Answer: B

Question #26

You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?

A. All risks must have a valid, documented risk response

B. These risks can be accepted

C. These risks can be added to a low priority risk watch list

D. These risks can be dismissed

View answer

Correct Answer: C

Question #27

Todd is the project manager of the EST project for his company. His organization has established certain rules in the enterprise environmental factors which affect the approach that Todd takes in managing his project. One of the rules requires Todd to consider the risk attitude of the stakeholders participating in risk analysis. Why must risk attitude be considered as a part of risk analysis?

A. Risk attitude can affect the measurement of probability and impact

B. Risk attitude can establish a stakeholder's influence over project decisions

C. Risk attitude identifies stakeholders that are hygiene seekers or motivation seekers

D. Risk attitude establishes stakeholders as positive or negative stakeholders

View answer

Correct Answer: D

Question #28

You are the project manager of the NHH project for your company. You and the project team have completed the quantitative risk analysis for your project. During this process you create a contingency reserve based on the risk probability-impact matrix as seen in the figure below. Based on the information in the figure above, what amount would you need to include in your risk contingency fund?

A. -$465,000

B. $171,500

C. -$258,500

D. $258,500

View answer

Correct Answer: D

Question #29

There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?

A. Acceptance

B. Sharing

C. Transference

D. Mitigation

View answer

Correct Answer: C

Question #30

You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?

A. Monthly

B. Once per project life cycle phase

C. Quarterly

D. Vary depending on the situations within the project

View answer

Correct Answer: A

Question #31

Your project has several risks that may cause serious financial impact should they happen. You have studied the risk events and made some potential risk responses for the risk events but management wants you to do more. They'd like for you to create some type of a chart that identified the risk probability and impact with a financial amount for each risk event. What is the likely outcome of creating this type of chart?

A. Risk response

B. Quantitative analysis

C. Contingency reserve

D. Risk response plan

View answer

Correct Answer: B

Question #32

You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?

A. Mitigation management plan

B. Mitigation plan

C. Fallback plan

D. Risk response plan

View answer

Correct Answer: C

Question #33

Frances is the project manager of a project in her organization. This project has a budget of $567,000 and is schedule to last for three years. Frances wants to examine the risk events to determine which risk events have the most potential impact on the project. Which modeling technique can help Frances to accomplish this goal?

A. Expected monetary value

B. Sensitivity analysis

C. Quantitative risk analysis

D. Modeling and simulation

View answer

Correct Answer: B

Question #34

Ben works as a project manager for the MJH Project. In this project, Ben is preparing to identify stakeholders so he can communicate project requirements, status, and risks. Ben has elected to use a salience model as part of his stakeholder identification process. Which of the following activities best describes a salience model?

A. Influence/impact grid, grouping the stakeholders based on their active involvement ("influence") in theproject and their ability to affect changes to the project's planning or execution ("impact")

B. Grouping the stakeholders based on their level of authority ("power") and their active involvement("influence") in the project

C. Grouping the stakeholders based on their level of authority ("power") and their level or concern ("interest")regarding the project outcomes

D. Describing classes of stakeholders based on their power (ability to impose their will), urgency (need forimmediate attention), and legitimacy (their involvement is appropriate)

View answer

Correct Answer: D

Question #35

You are the project manager of a new project in your organization. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?

A. Cause-and-effect diagrams

B. Project network diagrams

C. Delphi Technique

D. Decision tree analysis

View answer

Correct Answer: C

Question #36

There are seven risk responses for any project. Which one of the following is a valid risk response for a negative risk event?

A. Enhance

B. Exploit

C. Acceptance

D. Share

View answer

Correct Answer: C

Question #37

Mary is the project manager of the HGH Project for her company. She and her project team have agreed that if the vendor is late by more than ten days they will cancel the order and hire the NBG Company to fulfill the order. The NBG Company can guarantee orders within three days, but the costs of their products are significantly more expensive than the current vendor. What type of a response strategy is this?

A. Internal risk management strategy

B. Contingent response strategy

C. External risk response

D. Expert judgment

View answer

Correct Answer: B

Question #38

You work as a project manager for TechSoft Inc. You, the project team, and the key project stakeholders have completed a round of quantitative risk analysis. You now need to update the risk register with your findings so that you can communicate the risk results to the project stakeholders - including management. You will need to update all of the following information except for which one?

A. Probabilistic analysis of the project

B. Probability of achieving cost and time objectives

C. Risk distributions within the project schedule

D. Trends in quantitative risk analysis

View answer

Correct Answer: C

Question #39

You are the project manager for the NHQ Project. This project requires that you install 140 copies of design software onto your department's computers. The vendor offers you a twenty percent discount on the software if your company will purchase 150 or more copies of the software. You communicate this offer with other departments in your firm to see if anyone else would need 10 copies of the software to save your project a significant amount of funds. What is this risk response called?

A. Exploiting

B. Avoidance

C. Sharing

D. Transference

View answer

Correct Answer: C

Question #40

Which risk response is acceptable for both positive and negative risk events?

A. Transferring

B. Acceptance

C. Sharing

D. Enhancing

View answer

Correct Answer: B

Question #41

Thomas is a key stakeholder in your project. Thomas has requested several changes to the project scope for the project you are managing. Upon review of the proposed changes, you have discovered that these new requirements are laden with risks and you recommend to the change control board that the changes be excluded from the project scope. The change control board agrees with you. What component of the change control system communicates the approval or denial of a proposed change request?

A. Configuration management system

B. Scope change control system

C. Integrated change control

D. Change log

View answer

Correct Answer: C

Question #42

You are the project manager of the NHJ project for your company. This project has a budget at completion of $1,650,000 and you are 60 percent complete. According to the project plan, however, the project should be 65 percent complete. In this project you have spent $995,000 to reach this point of completion. There is a risk that this project may be late so you have taken some measures to recover the project schedule. Management would like to know, based on current performance, what the estimate at completio

A. $1,650,000

B. $1,666,667

C. $663,333

D. -$8,333

View answer

Correct Answer: B

Question #43

Your organization has a project that is expected to last 20 months but the customer would really like the project completed in 18 months. You have worked on similar projects in the past and believe that you could fast track the project and reach the 18 month deadline. What increases when you fast track a project?

A. Resources

B. Costs

C. Communication

D. Risks

View answer

Correct Answer: D

Question #44

Harry is a project manager of a software development project. In the early stages of planning, he and the stakeholders operated with the belief that the software they were developing would work with their organization's current computer operating system. Now that the project team has started developing the software it has become apparent that the software will not work with nearly half of the organization's computer operating systems. The incorrect belief Harry had in the software compatibility is an exampl

A. Issue

B. Assumption

C. Risk

D. Constraint

View answer

Correct Answer: B

Question #45

You are the project manager of the GGG project. You have completed the risk identification process for the initial phases of your project. As you begin to document the risk events in the risk register what additional information can you associate with the identified risk events?

A. Risk potential responses

B. Risk schedule

C. Risk owner

D. Risk cost

View answer

Correct Answer: A

Question #46

You work as a project manager for BlueWell Inc. Your project is running late and you must respond to the risk. Which risk response can you choose that will also cause you to update the human resource management plan?

A. Teaming agreements

B. Transference

C. Crashing the project

D. Fast tracking the project

View answer

Correct Answer: A

Question #47

Lisa is the project manager of the SQL project for her company. She has completed the risk response planning with her project team and is now ready to update the risk register to reflect the risk response. Which of the following statements best describes the level of detail Lisa should include with the risk responses she has created?

A. The level of detail is set by historical information

B. The level of detail should correspond with the priority ranking

C. The level of detail must define exactly the risk response for each identified risk

D. The level of detail is set of project risk governance

View answer

Correct Answer: A

Question #48

Lamont is the project manager of a project that has recently finished the final project deliverables. The project customer has signed off on the project deliverable and Lamont has a few administrative closure activities to complete. In the project, there were several large risks that could have wrecked the project but Lamont and his project team found some creative methods to resolve the risks without affecting the project costs or project end date. What should Lamont do with the risk responses he identifie

A. Include the risk response in the project risk management plan

B. Include the responses in the project management plan

C. Nothin

D. The risk responses are included in the project's risk register already

E. Include the risk responses in the organization's lessons learned database

View answer

Correct Answer: A

Question #49

Lisa is the project manager of the FKN project for her organization. She is working with Sam, the CIO, to discuss a discount the vendor has offered the project based on the amount of materials that is ordered. Lisa and Sam review the offer and agree that while their project may qualify for the discounted materials the savings is nominal and they would not necessarily pursue the savings. Lisa documents this positive risk response in the risk register. What risk response is this?

A. Enhance

B. Transference

C. Share

D. Acceptance

View answer

Correct Answer: A

Question #50

You work as a project manager for BlueWell Inc. Management has asked you to work with the key project stakeholder to analyze the risk events you have identified in the project. They would like you to analyze the project risks with a goal of improving the project's performance as a whole. What approach can you use to achieve the goal of improving the project's performance through risk analysis with your project stakeholders?

A. Focus on the high-priority risks through qualitative risk analysis

B. Involve the stakeholders for risk identification only in the phases where the project directly affects them

C. Involve subject matter experts in the risk analysis activities

D. Use qualitative risk analysis to quickly assess the probability and impact of risk events

View answer

Correct Answer: A

Question #51

Mary is the project manager for the BLB project. She has instructed the project team to assemble, to review the risks. She has included the schedule management plan as an input for the quantitative risk analysis process. Why is the schedule management plan needed for quantitative risk analysis?

A. Mary will schedule when the identified risks are likely to happen and affect the project schedule

B. Mary will utilize the schedule controls and the nature of the schedule for the quantitative analysis of the schedule

C. Mary will use the schedule management plan to schedule the risk identification meetings throughout the remaining project

D. Mary will utilize the schedule controls to determine how risks may be allowed to change the project schedule

View answer

Correct Answer: D

Question #52

Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

A. Estimating the average outcome

B. Model development

C. Decision making or the development of recommendations for decision makers

D. Increased understanding or quantification of the system

View answer

Correct Answer: ACD

Question #53

You are the project manager of the GHY Project for your company. You have completed the risk response planning with your project team. You now need to update the WBS. Why would the project manager need to update the WBS after the risk response planning process? Choose the best answer.

A. Because of work that was omitted during the WBS creation

B. Because of new work generated by the risk responses

C. Because of risk responses that are now activities

D. Because of risks associated with work packages

View answer

Correct Answer: B

Question #54

You are the project manager of the CUL project in your organization. You and the project team are assessing the risk events and creating a probability and impact matrix for the identified risks. Which one of the following statements best describes the requirements for the data type used in qualitative risk analysis?

A. A qualitative risk analysis requires fast and simple data to complete the analysis

B. A qualitative risk analysis requires accurate and unbiased data if it is to be credible

C. A qualitative risk analysis encourages biased data to reveal risk tolerances

D. A qualitative risk analysis required unbiased stakeholders with biased risk tolerances

View answer

Correct Answer: D

Question #55

You are the project manager of the NHQ project for your company. You are working with your project team to complete a risk audit. A recent issue that your project team responded to, and management approved, was to increase the project schedule because there was risk surrounding the installation time of a new material. Your logic was that with the expanded schedule there would be time to complete the installation without affecting downstream project activities. What type of risk response is being audited in

A. Parkinson's Law

B. Mitigation

C. Avoidance

D. Lag Time

View answer

Correct Answer: B

Question #56

You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure: If Risk D happens in this project, how much will be left in the contingency reserve?

A. $440,000

B. $233,500

C. $258,500

D. $243,500

View answer

Correct Answer: B

Question #57

_____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

A. Expert judgment

B. Expected monetary value

C. Sensitivity

D. Modeling and simulation

View answer

Correct Answer: B

Question #58

There are five inputs to the quantitative risk analysis process. Which one of the following is NOT an input to the perform quantitative risk analysis process?

A. Risk register

B. Risk management plan

C. Cost management plan

D. Enterprise environmental factors

View answer

Correct Answer: D

Question #59

Your organization has named you the project manager of the JKN Project. This project has a BAC of $1,500,000 and it is expected to last 18 months. Management has agreed that if the schedule baseline has a variance of more than five percent then you will need to crash the project. What happens when the project manager crashes a project?

A. Project risks will increase

B. The project will take longer to complete, but risks will diminish

C. Project costs will increase

D. The amount of hours a resource can be used will diminish

View answer

Correct Answer: A

Question #60

You work as a project manager for BlueWell Inc. You with your team are using a method or a (technical) process that conceives the risks even if all theoretically possible safety measures would be applied. One of your team member wants to know that what is a residual risk. What will you reply to your team member?

A. It is a risk that can not be addressed by a risk response

B. It is a risk that will remain no matter what type of risk response is offered

C. It is a risk that remains because no risk response is taken

D. It is a risk that remains after planned risk responses are taken

View answer

Correct Answer: D

Question #61

You work as a project manager for BlueWell Inc. You have to communicate the causes of risk events to the stakeholders. Which risk diagramming technique you will use to communicate the causes of risk events to project stakeholders?

A. Project network diagrams

B. Process flow charts

C. Ishikawa diagrams

D. Influence diagrams

View answer

Correct Answer: C

Question #62

You are the project manager for TTP project. You are in the Identify Risks process. You have to create the risk register. Which of the following are included in the risk register? Each correct answer represents a complete solution. Choose two.

A. List of mitigation techniques

B. List of key stakeholders

C. List of identified risks

D. List of potential responses

View answer

Correct Answer: B

Question #63

You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants

A. Evaluate and document the bias towards the risk events

B. Evaluate the bias through SWOT for true analysis of the risk events

C. Document the bias for the risk events and communicate the bias with management

D. Evaluate the bias towards the risk events and correct the assessment accordingly

View answer

Correct Answer: A

Question #64

You are interviewing members of a project team to test their understanding of the assigned risk responses as risk owners. You and the project manager are working together to evaluate the risk responses to determine their effectiveness in the project. What project management technique are you performing with the project manager in this scenario?

A. Risk audits

B. Stakeholder analysis as the project team is a stakeholder

C. Risk identification with the project team

D. Risk analysis

View answer

Correct Answer: A

Question #65

Nancy is the project manager of the NHH project. She and the project team have identified a significant risk in the project during the qualitative risk analysis process. Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses. Bob disagrees and ensures Nancy that his response is most appropriate

A. Bob is correc

B. Bob is familiar with the technology and the risk event so his responseshould be implemented

C. Bob is correc

D. Not all risk events have to pass the quantitative risk analysis process to develop effective risk responses

E. Nancy is correc

F. All risks of significant probability and impact should pass the quantitative risk analysis process before risk responses are created

View answer

Correct Answer: A

Question #66

Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

A. It determines which risk events have the most potential impact on the project

B. It uses round of anonymous surveys to predict which events are most likely to happen

C. It uses rounds of anonymous surveys to predict probability and impact

D. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives

View answer

Correct Answer: B

Question #67

You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?

A. Expert judgment

B. Data gathering and representation techniques

C. Organizational process assets

D. Quantitative risk analysis and modeling techniques

View answer

Correct Answer: A

Question #68

Your organization, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?

A. Each risk reassessment should go into the same depth as the original risk assessment activity

B. The probability and impact of risk event should determine the level of reassessment throughout the project lifecycle

C. The amount of detail of repetition that is appropriate depends on how the project progresses relative to its objectives

D. The level of detail and reassessment should reflect the priority of the project

View answer

Correct Answer: D

Question #69

You are the project manager of a large, high-profile project in your organization. You have realized that politics within your company may affect the true identification of risk events within the project. You decide that you'd like to use a method to identify risk events through an anonymous process. Which one of the following risk events will allow you to collect and distribute risk information without the stakeholders knowing what other stakeholders are communicating about the project risk events?

A. Surveys

B. Monte Carlo Technique

C. Checklist analysis

D. Delphi Technique

View answer

Correct Answer: D

Question #70

You are the project manager of the BJA Project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000. Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and t

A. Avoidance

B. Acceptance

C. Exploit

D. Mitigation

View answer

Correct Answer: C

Question #71

Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?

A. Wendy can determine a true project completion date

B. Wendy can track the cost and schedule variances

C. Wendy can review quality performance on baselines

D. Wendy can forecast deviation of the project cost and schedule for completion targets

View answer

Correct Answer: D

Question #72

Yolanda is the project manager of a high-profile project for her organization. This project has 124 stakeholders from across the organization and many of the stakeholders have high demands and expectations for the project. Yolanda will need several pieces of project information as she begins to communicate and manage the stakeholder expectations. Which of the following inputs of the manage stakeholder expectations process directly addresses the risks that could affect the project and which must be communica

A. Change log

B. Low-level riskswatchlist

C. Issue log

D. Stakeholder register

View answer

Correct Answer: A

Question #73

You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example of what risk response?

A. Transference

B. Acceptance

C. Mitigation

D. Sharing

View answer

Correct Answer: D

Question #74

You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?

A. Create work breakdown structure process

B. Plan risk management process

C. Risk identification process

D. Define scope process

View answer

Correct Answer: A

Question #75

Which risk response is acceptable for both positive and negative risk events?

A. Transferring

B. Acceptance

C. Sharing

D. Enhancing

View answer

Correct Answer: B

Question #76

You are working as a project manager in your organization. You are nearing the final stages of project execution and looking towards the final risk monitoring and controlling activities. For your project archives, which one of the following is an output of risk monitoring and control?

A. Quantitative risk analysis

B. Risk audits

C. Requested changes

D. Qualitative risk analysis

View answer

Correct Answer: C

Question #77

Jeff, a key stakeholder in your project, wants to know how the risk exposure for the risk events is calculated during quantitative risk analysis. He is worried about the risk exposure which is too low for the events surrounding his project requirements. How is the risk exposure calculated?

A. The risk exposure of a risk event is determined by historical information

B. The probability of a risk event times the impact of a risk event determines the true risk exposure

C. The probability of a risk event plus the impact of a risk event determines the true risk exposure

D. The probability and impact of a risk event are gauged based on research and in-depth analysis

View answer

Correct Answer: B

Question #78

Shelly is the project manager of the BUF project for her company. In this project Shelly needs to establish some rules to reduce the influence of risk bias during the qualitative risk analysis process. What method can Shelly take to best reduce the influence of risk bias?

A. Group stakeholders according to positive and negative stakeholders and then complete the risk analysis

B. Determine the risk root cause rather than the person identifying the risk events

C. Establish risk boundaries

D. Establish definitions of the level of probability and impact of risk event

View answer

Correct Answer: D

Question #79

You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?

A. Define Scope

B. Plan Risk Responses

C. Plan Risk Management

D. Identify Risks

View answer

Correct Answer: D

Question #80

You are the project manager of the NKQ project for your organization. You have completed the quantitative risk analysis process for this portion of the project. What is the only output of the quantitative risk analysis process?

A. Probability of reaching project objectives

B. Risk register updates

C. Risk response

D. Risk contingency reserve

View answer

Correct Answer: B

DON'T WANT TO MISS A THING?

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE!
Get Now

Best PMI-RMP Practice Exams and Preparation Materials, PMI Risk Management Professional | SPOTO

View The Updated RMP Exam Questions

View The Updated PMI Exam Questions

View Answers after Submission

DON'T WANT TO MISS A THING?

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE! Get Now

Best PMI-RMP Practice Exams and Preparation Materials, PMI Risk Management Professional | SPOTO

View The Updated RMP Exam Questions

View The Updated PMI Exam Questions

View Answers after Submission

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE!
Get Now