Comprehensive PMI-RMP Practice Tests and Exam Resources, PMI Risk Management Professional

Question #1

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

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Correct Answer: B

Question #2

You are the project manager of the NJJ project. Your enterprise environmental factors require that you establish certain risk management rules regarding low risks within your project. What is the best policy for risks with low probability and low impact in the project management?

A. These risks should be accepted

B. These risks should be placed on awatchlist for future monitoring

C. These risks should be identified, but dismissed

D. These risks should be placed in the risk register

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Correct Answer: B

Question #3

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

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Correct Answer: C

Question #4

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

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Correct Answer: A

Question #5

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

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Correct Answer: B

Question #6

You are the project manager for a construction project. The project includes a work that involves very high financial risks. You decide to insure processes so that any ill happening can be compensated. Which type of strategies have you used to deal with the risks involved with that particular work?

A. Mitigate

B. Avoid

C. Accept

D. Transfer

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Correct Answer: A

Question #7

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

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Correct Answer: C

Question #8

You are the project manager of the GGK project for your company. The GGK project has a budget of $1,265,100 and is currently 40 percent complete. In this project, you elected to add labor to the project to increase the likelihood of completing the project early as the project was only scheduled to be 35 percent complete at this time. This positive risk response, while keeping the project ahead of schedule, has added significant costs to the project. You have already spent $575,000 to reach this point in the

A. The CPI is -$68,960 and the SPI is $63,255

B. The CPI is

C. The CPI is

D. The CPI is 1

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Correct Answer: A

Question #9

Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of a risk threshold? ActualTests.com

A. It helps to identify those risks for which specific responses are needed

B. It is a limit of the funds that can be assigned to risk events

C. It is a warning sign that a risk event is going to happen

D. It is a study of the organization's risk tolerance

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Correct Answer: A

Question #10

There are seven risk responses, a project manager can use to address risk events. Which one of the following is a risk response that is appropriate for positive or negative risk events depending on the scenario in the project?

A. Avoidance

B. Acceptance

C. Sharing

D. Transference

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Correct Answer: C

Question #11

Kelly is the project manager of the NNQ Project for her company. This project will last for one year and has a budget of $350,000. Kelly is working with her project team and subject matter experts to begin the risk response planning process. When the project manager begins the plan risk response process, what two inputs will she need?

A. Risk register and the risk response plan

B. Risk register and power to assign risk responses

C. Risk register and the risk management plan

D. Risk register and the results of risk analysis

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Correct Answer: D

Question #12

Jeff works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following are the inputs to the identify risks process that Jeff will use to accomplish the task? Each correct answer represents a complete solution. Choose all that apply.

A. Scope baseline

B. Activity cost estimates

C. Risk register

D. Risk management plan

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Correct Answer: ABD

Question #13

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

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Correct Answer: B

Question #14

Harold is the project manager of a large project in his organization. He has been actively communicating and working with the project stakeholders. One of the outputs of the manage stakeholder expectations process can actually create new risk events for Harold's project. Which output of the manage stakeholder expectations process can create risks?

A. Project document updates

B. Change requests

C. Organizational process assets updates

D. Project management plan updates

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Correct Answer: B

Question #15

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

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Correct Answer: B

Question #16

You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy's concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks th

A. Risks with low probability and low impact are recorded in awatchlist for future monitoring

B. All risks, regardless of their assessed impact and probability, are recorded in the risk log

C. Risk identification is an iterative process so any changes to the low probability and low impact risks will bereassessed throughout the project life cycle

D. All risks are recorded in the risk management plan

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Correct Answer: A

Question #17

Rachel is the project manager of the KJH Project for her company. She needs a method to create a quick and simple approach to risk identification to communicate the project risk with the stakeholders. Which one of the following approaches to risk identification should Rachel choose to provide a quick and simple listing of the project risks?

A. Delphi Technique

B. Checklist analysis

C. Assumptions analysis

D. Brainstorming

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Correct Answer: B

Question #18

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. Strengths

F. Optimism

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Correct Answer: B

Question #19

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

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Correct Answer: D

Question #20

You are the project manager of the NGH project for your organization. You want to create a causeand- effect diagram to help discover the root causes of the risks within the project. Harold, the CIO, recommends that you create an Ishikawa diagram instead. What is an Ishikawa diagram?

A. It is a graphical representation of situations showing causal influences

B. It is the same thing as a root cause diagram

C. It shows how various elements of a system interrelate

D. It diagrams the risks according to the work breakdown structure including resources

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Correct Answer: B

Question #21

What approach can a project manager use to improve the project's performance during qualitative risk analysis?

A. Focus on near-term risks first

B. Create a risk breakdown structure and delegate the risk analysis to the appropriate project team members

C. Focus on high-priority risks

D. Analyze as many risks as possible regardless of who initiated the risk event

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Correct Answer: C

Question #22

Harry works as a project manager for the NHQ Project. He is performing quantitative risk analysis for his project. One of the project risks has a 40 percent probability of happening, and it will cost the project $65,000 if the risk happens. What is the expected monetary value of this risk event?

A. Negative $26,000

B. Negative $67,000

C. Zero - the risk event has not yet occurred

D. $27,000

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Correct Answer: A

Question #23

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

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Correct Answer: B

Question #24

Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he's following the best practices for risk management?

A. Project risk management is scheduled for every month in the 18-month project

B. Project risk management has been concluded with the project planning

C. At every status meeting the project team project risk management is an agenda item

D. Project risk management happens at every milestone

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Correct Answer: A

Question #25

You are the program manager for your organization. Management is considering a new program but they are worried about the program risks that may affect the program success. You know that there are three positive risks responses and three negative risk responses that each risk can have. Management asks you which risk response would be most appropriate for a large risk event if they wanted to hire a third-party to own the risk event for the program. What risk event is most appropriate?

A. Avoidance

B. Sharing

C. Transference

D. Mitigation

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Correct Answer: C

Question #26

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

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Correct Answer: C

Question #27

Fill in the blank with an appropriate phrase. The _____ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied.

A. residual risk

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Correct Answer: A

Question #28

You are working with your project stakeholders to identify risks within the JKP Project. You want to use an approach to engage the stakeholders to increase the breadth of the identified risks by including internally generated risk. Which risk identification approach is most suited for this goal?

A. Delphi Technique

B. SWOT analysis

C. Assumptions analysis

D. Brainstorming

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Correct Answer: D

Question #29

A high-profile, high-priority project within your organization is being created. Management wants you to pay special attention to the project risks and do all that you can to ensure that all of the risks are identified early in the project. Management has to ensure that this project succeeds. Management's risk aversion in this project is associated with what term?

A. Quantitative risk analysis

B. Risk conscience

C. Risk mitigation

D. Utility function

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Correct Answer: D

Question #30

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

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Correct Answer: A

Question #31

What risk identification technique allows participants to identify the project risks and to remain anonymous?

A. Influence diagrams

B. Assumptions analysis

C. Surveys

D. Delphi technique

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Correct Answer: D

Question #32

You work as a project manager for BlueWell Inc. You are performing the quantitative risk analysis for your project. One of the project risks has a 50 percent probability of happening, and it will cost the project $55,000 if the risk happens. What will be the expected monetary value of this risk event?

A. Negative $27,500

B. Zero - the risk event has not yet occurred

C. Negative $26,000

D. Negative $55,000

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Correct Answer: A

Question #33

Jane is the project manager of the GBB project for her company. In the current project a vendor has offered the project a ten percent discount based if they will order 100 units for the project. It is possible that the GBB Project may need the 100 units, but the cost of the units is not a top priority for the project. Jane documents the offer and tells the vendor that they will keep the offer in mind and continue with the project as planned. What risk response has been given in this project?

A. Acceptance

B. Enhance

C. Exploiting

D. Sharing

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Correct Answer: A

Question #34

Fred is the project manager of the PKL project. He is working with his project team to complete the quantitative risk analysis process as a part of risk management planning. Fred understands that once the quantitative risk analysis process is complete, the process will need to be completed again in at least two other times in the project. When will the quantitative risk analysis process need to be repeated?

A. Quantitative risk analysis process will be completed again after the cost management planning and as a part of monitoring and controlling

B. Quantitative risk analysis process will be completed again after new risks are identified and as part of monitoring and controlling

C. Quantitative risk analysis process will be completed again after the risk response planning and as a part of monitoring and controlling

D. Quantitative risk analysis process will be completed again after the plan risk response planning and as part of procurement

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Correct Answer: C

Question #35

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

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Correct Answer: C

Question #36

Harry works as a project manager for BlueWell Inc. He is determining how to conduct the risk management activities for a project. According to the PMBOK, there are six inputs to the plan risk management process. Which one of the following is NOT an input to this process?

A. Project scope statement

B. Risk management plan

C. Schedule management plan

D. Cost management plan

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Correct Answer: D

Question #37

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

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Correct Answer: C

Question #38

Bill is the project manager for a project that will last six months and has a budget of $580,000. In this project a high-risk has been identified with the new materials the project will be using. Bill would like to assign one person, Beth, to be responsible to monitor this risk. Bill assigns Beth the authority to respond to the risk event if it appears in the risk events that is likely to happen. In addition, Bill hires a consultant to work with Beth on this area of the project. In this instance, who is the

A. Bill, because he is the project manager

B. Beth, because she has the authority to respond to the risk event

C. Beth and the consultant are the risk owners

D. The consultant working with Beth, because this is transference

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Correct Answer: B

Question #39

You are the project manager of the NHQ project for your company. Management has told you that you must implement an agreed upon contingency response if the Cost Performance Index in your project is less than 0.90. Consider that your project has a budget at completion of $250,000 and is 60 percent complete. You are scheduled to be however, 75 percent complete, and you have spent $165,000 to date. What is the Cost Performance Index for this project to determine if the contingency response should happen?

A. -$37,500

B. 0

C. 0

D. 0

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Correct Answer: B

Question #40

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

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Correct Answer: B

Question #41

To properly ensure risk information is incorporated into the overall project management framework, risk data must be provided to the schedule analysts and cost estimators on a periodic basis.

A. At the end of the financial quarter

B. At least once per month

C. As defined in the risk plan

D. As defined in the company standards

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Correct Answer: C

Question #42

Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified a supplier who can create stained glass windows for 1,000 window units in the construction project. The supplier is an artist who works by himself, but creates windows for several companies throughout the United States. Management reviews the proposal to use this supplier and while they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units in time for the project

A. Mitigation

B. Acceptance

C. Avoidance

D. Transference

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Correct Answer: A

Question #43

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

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Correct Answer: A

Question #44

You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events. Which one of the following is NOT a document that will help you identify and communicate risks within the project?

A. Risk register

B. Activity cost estimates

C. Stakeholder register

D. Activity duration estimates

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Correct Answer: A

Question #45

Which of the following processes is described in the statement below? "This is the process of numerically analyzing the effect of identified risks on overall project objectives."

A. Identify Risks

B. Perform Quantitative Risk Analysis

C. Monitor and Control Risks

D. Perform Qualitative Risk Analysis

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Correct Answer: D

Question #46

Beth is a project team member on the JHG Project. Beth has added extra features to the project and this has introduced new risks to the project work. The project manager of the JHG project elects to remove the features Beth has added. The process of removing the extra features to remove the risks is called what?

A. Preventive action

B. Corrective action

C. Scope creep

D. Defect repair

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Correct Answer: A

Question #47

Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending. What is the purpose of reviewing the contingency reserve?

A. It helps to evaluate if the remaining reserve is adequate for the risk exposure

B. It helps to determine how much more funds will need to be invested in the project

C. It helps to evaluate secondary and residual risks related to the risk responses and their costs

D. It helps to determine the probability and impact of project risks

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Correct Answer: B

Question #48

Which positive risk response best describes a teaming agreement?

A. Share

B. Exploit

C. Enhance

D. Venture

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Correct Answer: C

Question #49

You work as a project manager for BlueWell Inc. You are working with your team members on the risk responses in the project. Which risk response will likely cause a project to use the procurement processes?

A. Exploiting

B. Mitigation

C. Sharing

D. Acceptance

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Correct Answer: B

Question #50

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

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Correct Answer: D

Question #51

Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he's following the best practices for risk management?

A. Project risk management is scheduled for every month in the 18-month project

B. Project risk management has been concluded with the project planning

C. At every status meeting the project team project risk management is an agenda item

D. Project risk management happens at every milestone

View answer

Correct Answer: C

Question #52

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

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Correct Answer: B

Question #53

You are the project manager for GHY Project and are working to create a risk response for a ActualTests.com negative risk. You and the project team have identified the risk that the project may not complete on time, as required by the management, due to the creation of the user guide for the software you're creating. You have elected to hire an external writer in order to satisfy the requirements and to alleviate the risk event. What type of risk response have you elected to use in this instance?

A. Avoidance

B. Exploiting

C. Transference

D. Sharing

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Correct Answer: C

Question #54

Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending. What is the purpose of reviewing the contingency reserve?

A. It helps to evaluate if the remaining reserve is adequate for the risk exposure

B. It helps to determine how much more funds will need to be invested in the project

C. It helps to evaluate secondary and residual risks related to the risk responses and their costs

D. It helps to determine the probability and impact of project risks

View answer

Correct Answer: A

Question #55

You are the project manager of the HQQ Project for your company. You are working with your project stakeholders to discuss the risks in the project that can adversely affect the project objectives. You are discussing the possibilities of causes for an identified risk event in your project. Your stakeholder is confused on the difference between causes and risk events. Which of the following is NOT an example of a cause for a project risk?

A. Limited team members to complete the project work

B. Quality assurance programs within the company

C. Work permit requirements

D. Schedule constraints on the project

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Correct Answer: B

Question #56

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

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Correct Answer: C

Question #57

Gary is the project manager for his organization. He is working with the project stakeholders on the project requirements and how risks may affect their project. One of the stakeholders is confused about what constitutes risks in the project. Which of the following is the most accurate definition of a project risk?

A. It is an uncertain event that can affect the project costs

B. It is an uncertain event or condition within the project execution

C. It is an uncertain event that can affect at least one project objective

D. It is an unknown event that can affect the project scope

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Correct Answer: C

Question #58

You are the project manager of the NHQ Project for your company. You are discussing some of the project issues that need to be resolved in the project. You and the project stakeholders come to an agreement about the risk issues and how they will be resolved. Where should you document this information for issue resolution?

A. Project management plan for execution

B. Lessons learned documentation

C. Issue log

D. Risk response plan

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Correct Answer: C

Question #59

Which of the following statements describe the purpose of an Issue Log? Each correct answer represents a complete solution. Choose all that apply.

A. It analyzes the impact that the issue is having on the project

B. It tracks the actions taken to resolve the issue

C. It tracks the outcome of the actions taken

D. It addresses the risks that could affect the project

View answer

Correct Answer: B

Question #60

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

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Correct Answer: A

Question #61

You work as the project manager for Bluewell Inc. You are working on NGQQ Projectyou're your company. You have completed the risk analysis processes for the risk events. You and the project team have created risk responses for most of the identified project risks. Which of the following risk response planning techniques will you use to shift the impact of a threat to a third party, ActualTests.com together with the responses?

A. Risk acceptance

B. Risk avoidance

C. Risk transference

D. Risk mitigation

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Correct Answer: C

Question #62

Diana is the project manager of the QPS project for her company. In this project Diana and the project team have identified a pure risk. Diana and the project team decided, along with the key stakeholders, to remove the pure risk from the project by changing the project plan altogether. What is a pure risk?

A. It is a risk event that is generated due to errors or omission in the project work

B. It is a risk event that is created by a risk response

C. It is a risk event that only has a negative side, such as loss of life or limb

D. It is a risk event that cannot be avoided because of the order of the work

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Correct Answer: A

Question #63

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

A. Transferring

B. Acceptance

C. Sharing

D. Enhancing

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Correct Answer: A

Question #64

Wendy is the project manager of the FBL project for your company. She has identified several risks within her project and has created a risk contingency reserve of $45,000 total. Her project is nearly complete and many of the risks have not happened in the project. What should Wendy do with the funds in the contingency reserve?

A. The funds remain in the contingency reserve until all of the risks have passed

B. The funds for the risks that have passed and have not happened are transferred to the project budget

C. The funds for the risks that have passed and have not happened are released

D. The funds remain in the contingency reserve until the project is closed

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Correct Answer: D

Question #65

Which of the following diagrams displays sensitivity analysis data?

A. Fishbone

B. Influence

C. Tornado

D. Cause and effect

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Correct Answer: D

Question #66

The Identify Risk process determines the risks that affect the project and document their characteristics. Why should the project team members be involved in the Identify Risk process?

A. They are the individuals that will need a sense of ownership and responsibility for the risk events

B. They are the individuals that will have the best responses for identified risks events within the project

C. They are the individuals that are most affected by the risk events

D. They are the individuals that will most likely cause and respond to the risk events

View answer

Correct Answer: A

Question #67

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: C

Question #68

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

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Correct Answer: D

Question #69

You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?

A. Cause and effect diagrams

B. System or process flow charts

C. Predecessor and successor diagramming

D. Influence diagrams

View answer

Correct Answer: B

Question #70

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

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Correct Answer: C

Question #71

You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?

A. Historical information

B. Qualitative risk analysis

C. Quantitative analysis

D. Rolling wave planning

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Correct Answer: A

Question #72

Which one of the following is the only output for the qualitative risk analysis process?

A. Enterprise environmental factors

B. Project management plan

C. Risk register updates

D. Organizational process assets

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Correct Answer: C

Question #73

You are the project manager of the NNN project for your company. You and the project team are working together to plan the risk responses for the project. You feel that the team has successfully completed the risk response planning and now you must initiate what risk process it is. Which of the following risk processes is repeated after the plan risk responses to determine if the overall project risk has been satisfactorily decreased?

A. Qualitative risk analysis

B. Quantitative risk analysis

C. Risk identification

D. Risk response implementation

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Correct Answer: C

Question #74

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

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Correct Answer: A

Question #75

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

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Correct Answer: D

Question #76

Beth is a project team member on the JHG Project. Beth has added extra features to the project and this has introduced new risks to the project work. The project manager of the JHG project elects to remove the features Beth has added. The process of removing the extra features to remove the risks is called what?

A. Preventive action

B. Corrective action

C. Scope creep

D. Defect repair

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Correct Answer: D

Question #77

You are working with your project stakeholders to identify risks within the JKP Project. You want to use an approach to engage the stakeholders to increase the breadth of the identified risks by including internally generated risk.

A. Delphi Technique

B. SWOT analysis

C. Assumptions analysis

D. Brainstorming

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Correct Answer: B

Question #78

You are the project manager of the BlueStar project in your company. Your company is structured as a functional organization and you report to the functional manager that you are ready to move onto the qualitative risk analysis process. What will you need as inputs for the qualitative risk analysis of the project in this scenario?

A. Qualitative risk analysis does not happen through the project manager in a functional structure

B. You will need the risk register, risk management plan, project scope statement, and any relevant organizational process assets

C. You will need the risk register, risk management plan, outputs of qualitative risk analysis, and any relevant organizational process assets

D. You will need the risk register, risk management plan, permission from the functional manager, and any relevant organizational process assets

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Correct Answer: D

Question #79

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. Nothing

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

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Correct Answer: D

Question #80

Which of the following risk responses delineates that the project plan will not be changed to deal with the risk?

A. Exploitation

B. Transference

C. Acceptance

D. Mitigation

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Correct Answer: A

Question #81

Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project stakeholders have completed a round of qualitative risk analysis. He needs to update the risk register with his findings so that he can communicate the risk results to the project stakeholders - including management. Mark will need to update all of the following information except for which one?

A. Prioritized list of quantified risks

B. Watchlist of low-priority risks

C. Trends in qualitative risk analysis

D. Risks grouped by categories

View answer

Correct Answer: A

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