Comprehensive PMI-RMP Exam Practice Questions & Answers, PMI Risk Management Professional

Question #1

David is the project manager of the NKL Project for his organization. He has been asked to create a proposal for a construction project for a client. David realizes that there are several requirements within the SOW and RFP provided by the client that would eliminate his company from bidding on the construction project. David proposed to management that his organization create a partnership with a competitor so that together they could bid on the construction project and qualify for the customer's requireme

A. Exploiting

B. Teaming agreement

C. Transference

D. Sharing

View answer

Correct Answer: D

Question #2

You work as a project manager for BlueWell Inc. You would like to utilize sensitivity analysis in your project, but the management does not understand how this will be displayed. What type of chart is usually used with sensitivity analysis to show the relative affect of risks on the project?

A. Ishikawa chart

B. Force field analysis chart

C. GERT Chart

D. Tornado diagram

View answer

Correct Answer: A

Question #3

Melody is the project manager for her organization. She has created a risk response to conduct more tests on the software her project is creating. The identified risk that prompted this response was that the software is mission-critical and must be flawless before it can be put into product. What type of a risk response has Melody used in this scenario?

A. Mitigation

B. Enhance

C. Transference

D. Avoidance

View answer

Correct Answer: B

Question #4

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: CD

Question #5

You are the project manager of the NGQQ Project for your company. To help you communicate project status to your stakeholders, you are going to create a stakeholder register. All of the following information should be included in the stakeholder register except for which one?

A. Assessment information of the stakeholders' major requirements, expectations, and potential influence

B. Stakeholder classification of their role in the project

C. Identification information for each stakeholder

D. Stakeholder management strategy

View answer

Correct Answer: A

Question #6

In addition to monitoring and controlling the project risks for their status and information the risk monitoring and controlling process accomplishes four key things for a project. Which one of the following is NOT a determination that is made by the risk monitoring and controlling process?

A. Determines if the project assumptions are still valid

B. Determines if the risk management policies and procedures are being followed

C. Determines if the risk contingency reserves should be modified to be in alignment with the current riskassessment

D. Determines if the project constraints are still valid

View answer

Correct Answer: D

Question #7

Consider a project with a budget at completion of $1,345,000 and it is supposed to be completed by today, but it is only 80 percent complete. This project has spent $1,250,000 to reach this point of completion. What is the schedule variance for this project?

A. -$217,500

B. 20 percent

C. -$174,000

D. -$269,000

View answer

Correct Answer: ACD

Question #8

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 #9

Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. Which of the following inputs will be needed for the quantitative risk analysis process in her project? Each correct answer represents a complete solution. Choose all that apply.

A. Risk management plan

B. Project scope statement

C. Risk register

D. Cost management plan

View answer

Correct Answer: D

Question #10

Nancy is the project manager of a project with 78 stakeholders. This is a high-profile project and she needs to express to her project team and to the management the importance of communication in this project. She would like to show the number of stakeholder communication channels in the project. Based on this information how many communication channels exist within this project?

A. 156

B. 3,003

C. 78

D. 6,084

View answer

Correct Answer: B

Question #11

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?

A. The checklist analysis approach is fast but it is impossible to build and exhaustive checklist

B. The checklist analysis approach saves time, but can cost more

C. The checklist analysis approach only uses qualitative analysis

D. The checklist is also known as top down risk assessment

View answer

Correct Answer: C

Question #12

You are the project manager of the GHE Project. You have identified the following risks with the characteristics as shown in the following figure: How much capital should the project set aside for the risk contingency reserve?

A. $142,000

B. $41,750

C. $23,750

D. $232,000

View answer

Correct Answer: C

Question #13

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: B

Question #14

Mary is the project manager of PKT project. In Mary's project there are certain enterprise environmental factors that require Mary to use modeling and simulation techniques to predict the likelihood of achieving cost and schedule objectives in the project. Mary is using a technique for which the cost estimates are chosen at random for each iteration of the analysis, such as pessimistic, most likely, and worst-case scenarios. What type of analysis is Mary using in this project?

A. Quantitative analysis

B. Qualitative analysis

C. Risk distribution

D. Monte Carlo Analysis

View answer

Correct Answer: B

Question #15

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 #16

Frank is the project manager of the NHQ project for his company. Frank is working with the project team, key stakeholders, and several subject matter experts on risks dealing with the new materials in the project. Frank wants to utilize a risk analysis method that will help the team to make decisions in the presence of the current uncertainty surrounding the new materials. Which risk analysis approach can Frank use to create an approach to make decisions in the presence of uncertainty?

A. Monte Carlo Technique

B. Qualitative risk analysis process

C. Quantitative risk analysis process

D. Delphi Technique

View answer

Correct Answer: C

Question #17

Ben is the project manager of the CMH Project for his organization. He has identified a risk that has a low probability of happening, but the impact of the risk event could save the project and the organization with a significant amount of capital. Ben assigns Laura to the risk event and instructs her to research the time, cost, and method to improve the probability of the positive risk event. Ben then communicates the risk event and response to management. What risk response has been used here?

A. Sharing

B. Transference

C. Enhance

D. Exploit

View answer

Correct Answer: D

Question #18

Melody is the project manager for her organization. She has created a risk response to conduct more tests on the software her project is creating. The identified risk that prompted this response was that the software is mission-critical and must be flawless before it can be put into product. What type of a risk response has Melody used in this scenario?

A. Mitigation

B. Enhance

C. Transference

D. Avoidance

View answer

Correct Answer: A

Question #19

Virginia is the project manager for her organization. She has hired a subject matter expert to interview the project stakeholders on certain identified risks within the project. The subject matter expert will assess the risk event with what specific goal in mind?

A. To determine the level of probability and impact for each risk event

B. To determine the bias of the risk event based on each person interviewed

C. To determine the probability and cost of the risk event

D. To determine the validity of each risk event

View answer

Correct Answer: C

Question #20

Gary has identified a project risk that could injure project team members. He does not want to accept any risk where someone could become injured on this project so he hires a professional vendor to complete this portion of the project work. This workaround to the risk event is known as what type of risk response?

A. Acceptance

B. Transference

C. Mitigation

D. Avoidance

View answer

Correct Answer: B

Question #21

You are the project manager of QSL project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows how various elements of a system interrelate and the mechanism of causation within the system. What diagramming technique are you using as a part of the risk identification process?

A. Predecessor and successor diagramming

B. System or process flowcharts

C. Cause and effect diagrams

D. Influence diagrams

View answer

Correct Answer: B

Question #22

You are the project manager of the AFD project for your company. You are working with the project team to reassess existing risk events and to identify risk events that have not happened and whose relevancy to the project has passed. What should you do with these events that have not happened and would not happen now in the project?

A. Add the risks to the risk register

B. Add the risks to a low-prioritywatchlist

C. Close the outdated risks

D. Add the risk to the issues log

View answer

Correct Answer: C

Question #23

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: D

Question #24

Fill in the blank with an appropriate phrase. _____ is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.

A. Sensitivity analysis

View answer

Correct Answer: ACD

Question #25

When does the Identify Risks process take place in a project?

A. At the Planning stage

B. Throughout the project life-cycle

C. At the Initiating stage

D. At the Executing stage

View answer

Correct Answer: B

Question #26

Which of the following are parts of SWOT Analysis? Each correct answer represents a complete solution. Choose all that apply.

A. Opportunities

B. Tools

C. Weaknesses

D. Threats

E. StrengthsF

View answer

Correct Answer: ACDE

Question #27

Mark works as a project manager of the NNH project. In this project, he has created a contingency response that the cost performance index should be less than 0.91. The NHH project has a budget at completion of $950,000 and is 43 percent complete - though the project should be 50 percent complete. The project has spent $470,897 to reach the 43 percent complete milestone. What is the project's cost performance index?

A. 0

B. 0

C. 0

D. 0

View answer

Correct Answer: C

Question #28

Ned is the project manager of the HNN project for your company. Ned has asked you to help him complete some probability distributions for his project. What portion of the project will you most likely use for probability distributions?

A. Bias towards risk in new resources

B. Risk probability and impact matrixes

C. Risk identification

D. Uncertainty in values such as duration of schedule activities

View answer

Correct Answer: D

Question #29

Jenny is the project manager for the NBT projects. She is working with the project team and several subject matter experts to perform the quantitative risk analysis process. During this process she and the project team uncover several risks events that were not previously identified. What should Jenny do with these risk events?

A. The events should be entered into qualitative risk analysis

B. The events should be determined if they need to be accepted or responded to

C. The events should be entered into the risk register

D. The events should continue on with quantitative risk analysis

View answer

Correct Answer: D

Question #30

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: B

Question #31

You are the project manager of the NKJ Project for your company. The project's success or failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this

A. Mitigation-ready project management

B. Risk utility function

C. Risk avoidance

D. Risk-reward mentality

View answer

Correct Answer: B

Question #32

In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?

A. Closing

B. Planning

C. Initiating

D. Executing

View answer

Correct Answer: C

Question #33

The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?

A. Trends in qualitative risk analysis

B. Risk probability-impact matrix

C. Watchlist of low-priority risks

D. Risks grouped by categories

View answer

Correct Answer: C

Question #34

A project team member has just identified a new project risk. The risk event is determined to have significant impact but a low probability in the project. Should the risk event happen it'll cause the project to be delayed by three weeks, which will cause new risk in the project. What should the project manager do with the risk event?

A. Add the identified risk to a quality control management control chart

B. Add the identified risk to the issues log

C. Add the identified risk to the risk register

D. Add the identified risk to the low-level riskwatchlist

View answer

Correct Answer: C

Question #35

You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?

A. Risk Management Plan

B. Stakeholder management strategy

C. Resource Management Plan

D. Communications Management Plan

View answer

Correct Answer: B

Question #36

You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. You will need all of the following as inputs to the qualitative risk analysis process except for which one?

A. Stakeholder register

B. Project scope statement

C. Risk management plan

D. Risk register

View answer

Correct Answer: A

Question #37

You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?

A. Impact

B. Risk owner

C. Cost

D. Risk category

View answer

Correct Answer: D

Question #38

Your project is an agricultural-based project that deals with plant irrigation systems. You have discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?

A. Enhancing

B. Opportunistic

C. Positive

D. Exploiting

View answer

Correct Answer: D

Question #39

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: A

Question #40

Fred is the project manager of a large project in his organization. Fred needs to begin planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?

A. Variance and trend analysis

B. Information gathering techniques

C. Planning meetings and analysis

D. Data gathering and representation techniques

View answer

Correct Answer: D

Question #41

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. Where should you document the proposed responses and the current status of all identified risks?

A. Stakeholder management strategy

B. Risk management plan

C. Risk register

D. Lessons learned documentation

View answer

Correct Answer: D

Question #42

You are the project manager of the HJU project for your company. This project will last for 18 months and has a project budget of $567,000. Robert, one of your stakeholders, has introduced a scope change request that will likely have an impact on the project costs and schedule. Robert assures you that he will pay for the extra time and costs associated with the risk event. You tell Robert that the change request may affect more areas of the project than just time and cost and that you are worried about the

A. Project change control system

B. Integrated change control

C. Risk analysis

D. Configuration management

View answer

Correct Answer: B

Question #43

Holly is the project manager of the NHQ project for her company. Her project sponsor, Tracy, has ActualTests.com requested that Thomas, the department manager, from the Risk Management Department, will work with Holly to determine the effectiveness of the risk responses. Tracy and Thomas are concerned that some of the risks within Holly's project may not be addressed to depth they would like. In this scenario, who is responsible for ensuring that risk audits are performed at an appropriate frequency through

A. Thomas

B. Tracy

C. The project team

D. Holly

View answer

Correct Answer: D

Question #44

You are the project manager of the KJH Project and are working with your project team to plan the risk responses. Consider that your project has a budget of $500,000 and is expected to last six months. Within the KJH Project you have identified a risk event that has a probability of .70 and has a cost impact of $350,000. When it comes to creating a risk response for this event what is the risk exposure of the event that must be considered for the cost of the risk response?

A. The risk exposure of the event is $245,000

B. The risk exposure of the event is $500,000

C. The risk exposure of the event is $350,000

D. The risk exposure of the event is $850,000

View answer

Correct Answer: A

Question #45

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: A

Question #46

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: C

Question #47

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: D

Question #48

During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?

A. Cost of the project

B. Risk rating

C. Warning signs

D. Symptoms

View answer

Correct Answer: A

Question #49

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: C

Question #50

Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project. Which of the following answers best describes what Stephen should do with these risk events?

A. The low probability and low impact risks should be added to a watchlist for future monitoring

B. Because they are low probability and low impact, the risks can be dismissed

C. The low probability and low impact risks should be added to the risk register

D. Because they are low probability and low impact, Stephen should accept the risks

View answer

Correct Answer: B

Question #51

You work as a project manager for BlueWell Inc. You want to create a visual diagram, which can depict the resources that will be used within the project. Which of the following diagrams will you create to accomplish the task?

A. Roles and responsibility matrix

B. Work breakdown structure

C. Resource breakdown structure

D. RACI chart

View answer

Correct Answer: C

Question #52

You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?

A. It depends on how many risks are initially identified

B. At least once per month

C. Identify risks is an iterative process

D. Several times until the project moves into execution

View answer

Correct Answer: A

Question #53

Your project uses a piece of equipment that if the temperature of the machine goes above 450 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours. Should this machine overheat even once it will delay the project's end date. You work with your project to create a response that should the temperature of the machine reach 430, the machine will be paused for at least an hour to cool it down. The temperature of 430 is called what?

A. Risk response

B. Risk event

C. Risk trigger

D. Risk identification

View answer

Correct Answer: C

Question #54

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 #55

Linda is the project manager of the NAB Project. One of the risks her project team has identified is too dangerous for the project team to manage internally so she has hired a vendor to complete this portion of the project and to manage the identified risk. What risk response has Linda used in this instance?

A. Transference

B. Avoidance

C. Contractual

D. Mitigation

View answer

Correct Answer: B

Question #56

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 risksActualTests

D. List of potential responses

View answer

Correct Answer: CD

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

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 projectlifecycle

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

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

View answer

Correct Answer: C

Question #59

Ruth is the project manager of ISFH project for her company. This project is forty percent complete and it appears that some risk events are going to happen in the project that will have an adverse affect on the project. Ruth creates a change request regarding the risks. Is this a valid response?

A. No, change requests should not address risks, only risk response strategies should be issued

B. No, change requests should not address pending risks, but only scope changes

C. Yes, change requests can be recommended for corrective actions for contingency plans

D. Yes, change requests can ask for additional funds to pay for the risk impact

View answer

Correct Answer: A

Question #60

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: A

Question #61

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

B.

C. 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

A. Enhance Transference Share

D. Acceptance

View answer

Correct Answer: D

Question #62

Which of the following processes must be repeated after Plan Risk Responses, as well as part of the Monitor and Control Risks, to determine if the overall project risk has been satisfactorily decreased?

A. Risk Limitation

B. Perform Qualitative Risk Analysis

C. Identify Risk

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: D

Question #63

John works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?

A. Activity duration estimates

B. Schedule management plan

C. Risk management plan

D. Activity cost estimates

View answer

Correct Answer: D

Question #64

David is the project manager of the NKL Project for his organization. He has been asked to create a proposal for a construction project for a client. David realizes that there are several requirements within the SOW and RFP provided by the client that would eliminate his company from bidding on the construction project. David proposed to management that his organization create a partnership with a competitor so that together they could bid on the construction project and qualify for the customer's requireme

A. Exploiting

B. Teaming agreement

C. Transference

D. Sharing

View answer

Correct Answer: B

Question #65

Consider the risk probability-impact matrix in the figure given below: If Risk B happens in this project, how much will be left in the contingency reserve?

A. $193,500

B. -$334,500

C. It depends on the total budget of the project

D. $148,300

View answer

Correct Answer: B

Question #66

In addition to monitoring and controlling the project risks for their status and information the risk monitoring and controlling process accomplishes four key things for a project. Which one of the following is NOT a determination that is made by the risk monitoring and controlling process?

A. Determines if the project assumptions are still valid

B. Determines if the risk management policies and procedures are being followed

C. Determines if the risk contingency reserves should be modified to be in alignment with the current risk assessment

D. Determines if the project constraints are still valid

View answer

Correct Answer: ABC

Question #67

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: B

Question #68

You work as a project manager for BlueWell Inc. Your project is using a new material to construct a large warehouse in your city. This new material is cheaper than traditional building materials, but it takes some time to learn how to use the material properly. You have communicated to the project stakeholders that you will be able to save costs by using the new material, but you will need a few extra weeks to complete training to use the materials. This risk response of learning how to use the new material

A. Team development

B. Benchmarking

C. Cost of conformance to quality

D. Cost-benefits analysis

View answer

Correct Answer: B

Question #69

Your project uses a piece of equipment that if the temperature of the machine goes above 450 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours. Should this machine overheat even once it will delay the project's end date. You work with your project to create a response that should the temperature of the machine reach 430, the machine will be paused for at least an hour to cool it down. The temperature of 430 is called what?

A. Risk response

B. Risk event

C. Risk trigger

D. Risk identification

View answer

Correct Answer: C

Question #70

You are the project manager of the AMD project for your organization. In this project, you are currently performing quantitative risk analysis. The tool and technique you are using is simulation where the project model is computed many times with the input values chosen at random for each iteration. The goal is to create a probability distribution from the iterations for the project schedule. What technique will you use with this simulation?

A. Pareto modeling

B. Expected Monetary Value

C. Analogous modeling

D. Monte Carlo Technique

View answer

Correct Answer: D

Question #71

You are the project manager for the NHH project. You are working with your project team to examine the project from four different defined perspectives to increase the breadth of identified risks by including internally generated risks. What risk identification approach are you using in this example?

A. Root cause analysis

B. SWOT analysis

C. Influence diagramming techniques

D. Assumptions analysis

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Correct Answer: C

Question #72

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

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Correct Answer: A

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