Free PMI-RMP Practice Questions & Answers 2026 Part4

Question #1

What steps would be used during the qualitative risk analysis process to provide input to the risk register?

A. Select risks characteristics, collect and analyze data, prioritize risks, categorize risks causes, document results

B. Interviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results

C. Interviews, expert opinions, risk manager review, prioritize risks, and document results

D. Select risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results

View answer

Correct Answer: C

Question #2

During what process should a project manager assign a risk owner?

A. Plan Risk Responses

B. Plan Risk Management

C. Monitor Risks

D. Identify Risks

View answer

Correct Answer: A

Question #3

The project manager receives an updated project schedule from a sub team detailing the deliverables, dates, and durations for a critical milestone on the development and testing for off-shore activities. This report is received one hour before a meeting with the chief executive officer (CEO) to present an updated master schedule of the critical path. The CEO has been promised a discussion on the project schedule several times. However, based on the recent update from the off-shore team, the project manager realizes this new schedule is not realistic. There are new risks associated with it and it is not well thought out. Some key stakeholders want to present this revised plan to the CEO. This meeting has been postponed twice already.Which action should the project manager take before meeting with the CEO?

A. Talk to the stakeholders before the meeting to discuss the options and ask their opinion

B. Present the revised master schedule to the CEO with the caveat that it is being updated as new information is received, and these are the current dates at this point

C. Request the meeting be re-scheduled before presenting the master schedule to the CEO, stating that new major risks were identified and need to be assessed thoroughly

D. Present the revised schedule to the CEO and only answer questions about validity, if asked

View answer

Correct Answer: C

Question #4

Critical deliverables are delayed, because a key subject matter expert (SME) does not have enough time to allocate to the tasks. How could the situation be improved for the future?

A. Cross train others to reduce the SME workload

B. Introduce scope reductions to limit the reliance on SMEs

C. Replace the SME with resources, who are responsible for receiving output from the SME on their deliverables

D. Extend the project schedule timeline to accommodate availability of the SME

View answer

Correct Answer: B

Question #5

Which of the following would a proactive risk manager do during the Monitoring and Controlling Process?

A. Develop risk responses, create risk management plan, and stay alert for risk events

B. Update the lessons learned documents, develop risk responses, and create the risk management plan

C. Review identified risks, stay alert for risk events, and remind team members to keep the risk manager informed about risk triggers

D. Review lessons learned document to identify risks, quantify risks, and lower impact ratings

View answer

Correct Answer: C

Question #6

The major investor in a road construction project is constantly asking project team members for information about the project's execution. This has resulted in the project team working 20% of their day preparing project reports for the stakeholders.What should the risk manager do to enhance the project team's approach to risk reports?

A. Talk to the project team and ensure they avoid direct communication with this stakeholder

B. Engage with the team to enhance the project risk reports sent to the stakeholders

C. Highlight to the stakeholders the agreed predetermined frequency of risk reports

D. Work with the project sponsor to ensure stakeholders avoid directly influencing the project team

View answer

Correct Answer: C

Question #7

What items should be included in a complex project's risk management plan?

A. Risk management methodology, scope statement, and thresholds and corresponding definitions

B. Risk management methodology, risk management organization, and thresholds and corresponding definitions

C. Risk management organization, templates, and milestone plan

D. Risk management organization, risk communication plan, and milestone plan

View answer

Correct Answer: B

Question #8

Which analysis method has a lower standard deviation?

A. European Hypercube

B. Monte Carlo simulation

C. Hecht analysis

D. Latin Hypercube

View answer

Correct Answer: D

Question #9

Within the organizational process assets, where would the project manager find risk response effectiveness from past projects?

A. Change management plan and lessons learned

B. Stakeholder register and lessons learned

C. Risk audit and lessons learned

D. Risk audit and risk matrix

View answer

Correct Answer: C

Question #10

A new resource is added to the project team from a matrix organization. How should the project's risk manager familiarize the new team member with the project'srisk management process?

A. The functional manager is responsible for providing the training

B. Provide project specific risk training and mentor through the risk process

C. Send the new team member the risk management plan to read

D. Provide the new team member with a copy of the risk register and latest status report

View answer

Correct Answer: B

Question #11

What is the purpose of mitigating negative risks as a part of the risk response process?

A. o transfer the probability of a risk happening to a third party, and to reduce the severity of the impact

B. o reduce the probability of a risk happening, and/or reduce the severity of the impact

C. o accept the probability of a risk happening to reduce the severity of the impact

D. o increase the probability of a risk happening, but reduce the severity of the impact

View answer

Correct Answer: B

Question #12

The company is a risk seeking organization, and has experienced measurable success based on their current strategy for growth. A new project has that exceeds the risk levels documented in the risk management plan.What would be the best course of action for the company to take with the project based on its current scope?

A. Monitor ongoing risks closely for any major changes

B. Perform a Monte Carlo simulation to understand possible risk outcomes

C. Cancel the project, as the overall level of risk remains unacceptable

D. Conduct a stakeholder meeting to validate stakeholder risk appetite

View answer

Correct Answer: C

Question #13

A race director is planning a marathon with US$80,000 in upfront costs that will be offset by race fees. The remainder of the funds will be donated to a national charity. State law mandates that all money paid by the participants must be refunded if the race is cancelled for any reason.Which of the following is the best example of a risk mitigation response?

A. Let the runners know the race will be cancelled only in the event of an emergency

B. Purchase an insurance policy covering up to US$85,000 in losses, at a cost of US$5,000, in the event the race is cancelled

C. Inform the charity that they will receive no funds should the race be cancelled

D. Charge the runners an additional amount to cover the US$80,000

View answer

Correct Answer: B

Question #14

After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a2-week delay in the project.How could the risk manager have avoided the board ' s response?

A. ngaging with the project sponsor before presenting to the board

B. ngaging the key stakeholders during the prioritization process

C. orking with an established industry standard prioritization method

D. rioritizing the risks based on the project sponsor ' s risk appetite

View answer

Correct Answer: B

Question #15

A project manager is developing the risk management process and schedules a risk planning workshop at the start of the project. Upon receiving the invitation, asenior stakeholder emails the project manager stating that a risk management plan is not needed since this is a small project, and lack of a plan will reduce costs.Which of the following should the project manager do?

A. Advise the stakeholder that risk management is a valuable undertaking and must be applied to all projects to some degree

B. Cancel the workshop, as the stakeholder is senior and risk management is an optional process, especially on smaller projects

C. Continue with the workshop, but remove the stakeholder from the list of attendees

D. Review the scope in an attempt to save money in other areas of the project to provide funding for the risk management activities

View answer

Correct Answer: A

Question #16

What is an example of legal and regulatory requirements and/or constraints when assessing a project environment for threats and opportunities?

A. rganizational communication requirements

B. onfidentiality of project information

C. ormal knowledge sharing and information sharing procedures

D. rganizational standard policies, processes, and procedures

View answer

Correct Answer: B

Question #17

What items should be included in a complex project's risk management plan?

A. Risk management methodology, scope statement, and thresholds and corresponding definitions

B. Risk management methodology, risk management organization, and thresholds and corresponding definitions

C. Risk management organization, templates, and milestone plan

D. Risk management organization, risk communication plan, and milestone plan

View answer

Correct Answer: B

Question #18

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: C

Question #19

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 #20

What are the critical success factors for the Plan Risk Management process?

A. Mitigate all risks, engage stakeholders, and follow organizational policies

B. Identify and address barriers, engage stakeholders, and follow organizational policies

C. Contingency reserves engage stakeholders and follow organizational policies

D. Identify and address barriers, engage stakeholders, and follow government regulations

View answer

Correct Answer: B

Question #21

A project manager is developing the risk management process and schedules a risk planning workshop at the start of the project. Upon receiving the invitation, a senior stakeholder emails the project manager stating that a risk management plan is not needed since this is a small project, and lack of a plan will reduce costs.Which of the following should the project manager do?

A. Advise the stakeholder that risk management is a valuable undertaking and must be applied to all projects to some degree

B. Cancel the workshop, as the stakeholder is senior and risk management is an optional process, especially on smaller projects

C. Continue with the workshop, but remove the stakeholder from the list of attendees

D. Review the scope in an attempt to save money in other areas of the project to provide funding for the risk management activities

View answer

Correct Answer: A

Question #22

The risk manager organizes a stakeholder meeting to obtain agreement on project risk response strategies. At the conclusion of this meeting, the risk responsestrategies should be which of the following?

A. Scheduled, budgeted, and easy for project stakeholders to understand

B. Cost-effective, validated by Monte Carlo analysis, and assigned

C. Iterative, scaled to the project, and addressing threats and opportunities

D. Timely, cost-effective, agreed-upon, and accepted

View answer

Correct Answer: D

Question #23

The company is a risk seeking organization, and has experienced measurable success based on their current strategy for growth. A new project has that exceeds the risk levels documented in the risk management plan.What would be the best course of action for the company to take with the project based on its current scope?

A. Monitor ongoing risks closely for any major changes

B. Perform a Monte Carlo simulation to understand possible risk outcomes

C. Cancel the project, as the overall level of risk remains unacceptable

D. Conduct a stakeholder meeting to validate stakeholder risk appetite

View answer

Correct Answer: C

Question #24

As part of identifying the risk appetite of project stakeholders, the project manager must first identify the stakeholders.Which of the following inputs are used to identify project stakeholders?

A. Project charter, management reserve, enterprise environmental factors, and organizational process assets

B. Project management plan, human resource plan, enterprise environmental factors, and organizational process assets

C. Project charter, bid documents, enterprise environmental factors, and organizational process assets

D. Project charter, communications management plan, enterprise environmental factors, and organizational process assets

View answer

Correct Answer: C

Question #25

The risk manager notices that in their workshops, most of the risks identified are threats. Whatshould the risk manager do to increase the number of opportunities identified?

A. se the Delphi technique involving experts who have identified opportunities in the past

B. nterview more stakeholders who have a positive mindset

C. onduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis

D. onduct a political, economic, sociological, technological, legal, and environmental (PESTLE) analysis

View answer

Correct Answer: C

Question #26

During the construction of a housing development, a project team realizes they exceeded their materials budget during the first of three execution stages. The risk manager observed that the team did not notice that the cost of the materials increased due to continuous inflation in the steel market. What could have been done during project planning to avoid overspending?

A. AMet weekly with the finance team to monitor the cost

B. BCommunicated with the stakeholders that the project costs might increase

C. CProperly documented the triggers and actions for the risk

D. DEngaged with the sponsor to buy the steel in advance of the project

View answer

Correct Answer: C

Question #27

A risk has been identified in a multi-functional project. The project manager decides to take no action.What type of response is this considered?

A. Avoidance

B. Exploitation

C. Procrastination

D. Acceptance

View answer

Correct Answer: D

Question #28

Which analysis method has a lower standard deviation?

A. European Hypercube

B. Monte Carlo simulation

C. Hecht analysis

D. Latin Hypercube

View answer

Correct Answer: D

Question #29

What items should be included in a complex project's risk management plan?

A. Risk management methodology, scope statement, and thresholds and corresponding definitions

B. Risk management methodology, risk management organization, and thresholds and corresponding definitions

C. Risk management organization, templates, and milestone plan

D. Risk management organization, risk communication plan, and milestone plan

View answer

Correct Answer: B

Question #30

During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customer's electrical infrastructure. This event was not originally identified as a risk. To maintain the project schedule, the project manager decides to purchase a new power adapter.What type of response best describes this course of action?

A. Contingency plan

B. Management plan

C. Fall-back plan

D. Workaround

View answer

Correct Answer: D

Question #31

Which of the following are examples of relevant data gathering tools?

A. Risk response plan and interviews

B. Questionnaires and historical data

C. Work breakdown structure and historical data

D. Work breakdown structure and interviews

View answer

Correct Answer: B

Question #32

A project team's risk facilitator identifies a number of risks and must prioritize them based on the organization's risk appetite levels.Which technique should be used?

A. PERT

B. Stakeholder risk profile analysis

C. Project scope statement analysis

D. Monte Carlo technique

View answer

Correct Answer: B

Question #33

During the risk Monitor and Control Project Work process, the scope, schedule, and cost begin to increase.What outputs should be updated and/or created?

A. Project management plan, project documents, and human resource plan

B. Change requests, project management plan, and project documents

C. Change requests, cost plan, and project documents

D. Enterprise environmental factors, change requests, and project management plan

View answer

Correct Answer: B

Question #34

After a risk review meeting, three key risks are identified as likely to be realized. The project manager requests a risk scenario be calculated to establish the impact on the budget.What is the forecasting methodology that should be utilized to calculate the impact?

A. Estimate to complete (ETC)

B. Budget at completion (BAC)

C. Estimate risk completion (ERC)

D. Estimate at completion (EAC)

View answer

Correct Answer: D

Question #35

Which tool can the project risk manager utilize to help identify and assess project risks?

A. Risk audit

B. Risk surveys

C. Risk manager interviews

D. Risk sensitivity surveys

View answer

Correct Answer: B

Question #36

The stakeholder is unwilling to make decisions that would result in negative consequences to the project.Which of the following describes the stakeholder's attitude regarding project risks?

A. Risk averse

B. Risk neutral

C. Risk accepting

D. Not enough information available to describe the stakeholder's risk attitude

View answer

Correct Answer: A

Question #37

A risk manager for a cross-functional project is initiating the risk identification process. The risk manager conducted some meetings for stakeholders to express their concerns, but some stakeholders are complaining that their opinions were not considered.How should the risk manager address these concerns?

A. Refer to the requirements documentation to confirm stakeholder requirements as they relate to risks

B. Refer to the project charter to find guidelines and stakeholder communication channels

C. Review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input

D. Rewrite the risk register to include the additional possible risks and inform the stakeholders

View answer

Correct Answer: C

Question #38

What are the critical success factors for the Plan Risk Management process?

A. Mitigate all risks, engage stakeholders, and follow organizational policies

B. Identify and address barriers, engage stakeholders, and follow organizational policies

C. Contingency reserves engage stakeholders and follow organizational policies

D. Identify and address barriers, engage stakeholders, and follow government regulations

View answer

Correct Answer: B

Question #39

A risk has been identified in a multi-functional project. The project manager decides to take no action.What type of response is this considered?

A. Avoidance

B. Exploitation

C. Procrastination

D. Acceptance

View answer

Correct Answer: D

Question #40

What identification technique is used to help reduce the ambiguity of a risk statement?

A. Driver, risk, outcome

B. Exploit, risk, accept

C. Probability, risk, impact

D. Cause, risk, effect

View answer

Correct Answer: D

Question #41

The company is a risk seeking organization, and has experienced measurable success based on their current strategy for growth. A new project has that exceeds the risk levels documented in the risk management plan.What would be the best course of action for the company to take with the project based on its current scope?

A. Monitor ongoing risks closely for any major changes

B. Perform a Monte Carlo simulation to understand possible risk outcomes

C. Cancel the project, as the overall level of risk remains unacceptable

D. Conduct a stakeholder meeting to validate stakeholder risk appetite

View answer

Correct Answer: C

Question #42

An agriculture government agency faces different challenges with farmers and landlords In implementing its ambitious growth strategy. The agency decided to establish an enterprise risk management unit to identify risks, analyze risks, and provide a handbook showing how to handle the surrounding uncertainty.What should the risk management expert recommend the agency do first to identify risks and develop the handbook?

A. ollow standard risk Identification tools dedicated for agriculture and tailor them to the environment

B. repare a list of the key resources that will be used to compile a risk management plan

C. ire an agriculture expert who can develop the required handbook and discuss it with the agriculture minister

D. onduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks

View answer

Correct Answer: D

Question #43

When using the risk register to manage the cost risk analysis, which of the following models the way correlation arises, and avoids the need to estimate the correlation coefficients?

A. isk Monte Carlo analysis

B. isk driver method

C. isk scatter diagram

D. isk RACI matrix

View answer

Correct Answer: B

Question #44

During the monthly executive review meeting, the project sponsor would like to understand how theproject team has planned to manage risks that were identified in the last meeting. What should theproject manager do?

A. tilize a Monte Carlo assessment to provide risk related impacts

B. eact to the secondary and residual risks only if they occur

C. nclude secondary and residual risks as part of the response

D. ransfer secondary and residual risks to the project sponsor

View answer

Correct Answer: C

Question #45

After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

A. AProbability of a response triggering a secondary risk

B. BHow the response will affect the quality of the components

C. CIf the risk response is tied to an activity on the critical path

D. DVerify due dates for the actions have been identified

View answer

Correct Answer: D

Question #46

Due to lack of specific knowledge within a technical domain, the project manager decides an expert from outside the organization should be invited into the project to identify and analyze risks. The project manager understands that the risk management process has many benefits, but it will also have clear costs.Which of the following should the project manager do?

A. Identify internal resources with proper knowledge, and keep costs down

B. Hire experts as needed

C. Hire a specialized risk analysis consulting company

D. Determine that the benefits outweigh the costs where risk is involved

View answer

Correct Answer: D

Question #47

The stakeholder is unwilling to make decisions that would result in negative consequences to the project. Which of the following describes the stakeholder'sattitude regarding project risks?

A. Risk averse

B. Risk neutral

C. Risk accepting

D. Not enough information available to describe the stakeholder's risk attitude

View answer

Correct Answer: A

Question #48

Which analysis method uses stratified sampling without replacement?

A. Latin Hypercube

B. Monte Carlo simulation

C. Impact analysis

D. Linear regression analysis

View answer

Correct Answer: A

Question #49

A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asksthe risk manager to treat every single risk identified as an extremely high priority.What should the risk manager do?

A. sk the project sponsor if every risk in the risk register can have the same priority

B. ark every identified risk as an extremely high priority and any future risks as a lower priority

C. gree with the SME, treat every risk with equal priority, and inform all stakeholders

D. erform a sensitivity analysis and determine the correct priority of every identified risk

View answer

Correct Answer: D

Question #50

A risk has been identified in a multi-functional project. The project manager decides to take no action.What type of response is this considered?

A. Avoidance

B. Exploitation

C. Procrastination

D. Acceptance

View answer

Correct Answer: D

Question #51

The risk manager for a construction project graphically groups project risks by the subsets of economic risk, social risk, and technical risk.Where has this information been captured?

A. Risk breakdown structure

B. Risk management plan

C. Risk register

D. Risk control plan

View answer

Correct Answer: A

Question #52

What are the critical success factors for the Plan Risk Management process?

A. Mitigate all risks, engage stakeholders, and follow organizational policies

B. Identify and address barriers, engage stakeholders, and follow organizational policies

C. Contingency reserves engage stakeholders and follow organizational policies

D. Identify and address barriers, engage stakeholders, and follow government regulations

View answer

Correct Answer: B

Question #53

Which of the following characteristics would a risk-adverse person or group demonstrate?

A. Reasonable comfort with most uncertainty; accepts risk as a normal feature of projects and business, and takes uncertainty in stride with no apparent or significant influence on their behavior

B. Risk taking is a price worth paying for future payoffs; seeks strategies and tactics that have high future payoffs; thinks abstractly and creatively envisioning possibilities, and is not afraid of change oi unknowns

C. Discomfort with uncertainty; low tolerance for ambiguity, and seeks security and resolution when facing risk

D. Adaptable and resourceful, and is not afraid to take action, or even thrill seeking

View answer

Correct Answer: C

Question #54

Which analysis method has a lower standard deviation?

A. European Hypercube

B. Monte Carlo simulation

C. Hecht analysis

D. Latin Hypercube

View answer

Correct Answer: D

Question #55

After a risk review meeting, three key risks are identified as likely to be realized. The project manager requests a risk scenario be calculated to establish the impact on the budget.What is the forecasting methodology that should be utilized to calculate the impact?

A. Estimate to complete (ETC)

B. Budget at completion (BAC)

C. Estimate risk completion (ERC)

D. Estimate at completion (EAC)

View answer

Correct Answer: D

Question #56

What are the critical success factors for the Plan Risk Management process?

A. Mitigate all risks, engage stakeholders, and follow organizational policies

B. Identify and address barriers, engage stakeholders, and follow organizational policies

C. Contingency reserves engage stakeholders and follow organizational policies

D. Identify and address barriers, engage stakeholders, and follow government regulations

View answer

Correct Answer: B

Question #57

Which of the following demonstrates that a company's risk management process is successful?

A. Projects deemed too risky are given additional time

B. The number of identified risks has decreased

C. Profitability has increased due to the risk management process

D. Additional resources were added to complete the project faster

View answer

Correct Answer: C

Question #58

A heavy industrial design firm has over USS3 billion in current contract value. As a result of quantitative risk analysis of a geographically separated project, opportunities have been identified and assessed as high priorities for the project.What is the most effective method to capture these opportunities?

A. Integrate them into the RBS

B. Schedule a project team meeting

C. Formally notify the project manager

D. Establish a contingency reserve

View answer

Correct Answer: C

Question #59

The risk manager organizes a stakeholder meeting to obtain agreement on project risk response strategies. At the conclusion of this meeting, the risk response strategies should be which of the following?

A. Scheduled, budgeted, and easy for project stakeholders to understand

B. Cost-effective, validated by Monte Carlo analysis, and assigned

C. Iterative, scaled to the project, and addressing threats and opportunities

D. Timely, cost-effective, agreed-upon, and accepted

View answer

Correct Answer: C

Question #60

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

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

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

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

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

View answer

Correct Answer: B

Question #61

The company is a risk seeking organization, and has experienced measurable success based on their current strategy for growth. A new project has that exceeds the risk levels documented in the risk management plan.What would be the best course of action for the company to take with the project based on its current scope?

A. Monitor ongoing risks closely for any major changes

B. Perform a Monte Carlo simulation to understand possible risk outcomes

C. Cancel the project, as the overall level of risk remains unacceptable

D. Conduct a stakeholder meeting to validate stakeholder risk appetite

View answer

Correct Answer: C

Question #62

What items should be included in a complex project's risk management plan?

A. Risk management methodology, scope statement, and thresholds and corresponding definitions

B. Risk management methodology, risk management organization, and thresholds and corresponding definitions

C. Risk management organization, templates, and milestone plan

D. Risk management organization, risk communication plan, and milestone plan

View answer

Correct Answer: B

Question #63

What are common examples used to communicate risk probability and impact?

A. isk checklist, risk assessment, regression analysis, and assumption and constraint analysis

B. onitor Risks process, multi-dimensional risk assessment, control chart, and Monte Carlo simulation

C. robability distributions, sensitivity analysis, modeling and simulation, and probability and impact matrix

D. onitor Risks process, assumption and constraint analysis, modeling and simulation, and risk register

View answer

Correct Answer: C

Question #64

A project manager has a two-month project with three project team members. The project sponsor does not agree with the project manager that a risk planning process is necessary, since the project is very small.Would it be appropriate for the project manager to implement some level of risk management?

A. Yes, even small projects may require risk planning

B. No, small projects do not usually require risk planning

C. No, risk planning should be initiated with the sponsor's consent

D. Yes, the risk planning process implementation is ultimately the project manager's decision

View answer

Correct Answer: A

Question #65

The company is a risk seeking organization, and has experienced measurable success based on their current strategy for growth. A new project has that exceeds the risk levels documented in the risk management plan.What would be the best course of action for the company to take with the project based on its current scope?

A. Monitor ongoing risks closely for any major changes

B. Perform a Monte Carlo simulation to understand possible risk outcomes

C. Cancel the project, as the overall level of risk remains unacceptable

D. Conduct a stakeholder meeting to validate stakeholder risk appetite

View answer

Correct Answer: C

Question #66

When selecting strategies as an activity of Plan Risk Response, what is the overall goal?

A. elect the strategies with the least financial impact

B. elect the strategies with the least overall impact to resources

C. elect the strategies with the greatest overall positive influence

D. elect the strategies with the greatest benefit to stakeholders

View answer

Correct Answer: C

Question #67

During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customer's electrical infrastructure. This event was originally identified as a risk during earlier stages of the project and the associated risk response indicated a plan to purchase a new power adapter.Which project fund will be used to cover this cost?

A. Management reserve

B. Management budget

C. Project budget

D. Contingency reserve

View answer

Correct Answer: D

Question #68

During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customer's electrical infrastructure. This event was not originally identified as a risk. To maintain the project schedule, the project manager decides to purchase a new power adapter.What type of response best describes this course of action?

A. Contingency plan

B. Management plan

C. Fall-back plan

D. Workaround

View answer

Correct Answer: D

Question #69

A risk manager is preparing for the first meeting with their project sponsor on a potential project for a large client. The risk manager reviews their newly developed project risk register to identify any risks that should be analyzed further and begins by prioritizing the probability column based on the following criteria: 1 = Very Low 2 = Low 3 = Medium 4 = High 5 = Very High What type of risk analysis is the risk manager performing? The risk manager is performing a qualitative risk analysis by prioritizing risks based on their probability of occurrence. Qualitative risk analysis involves evaluating and prioritizing risks based on their likelihood and impact using a predefined scale. This approach helps in determining which risks require more attention and should be subjected to further analysis or immediate action. PMI defines qualitative risk analysis as a process that uses a relative scale to assess the probability and impact of risks, which is what is being done in this scenario.

A. Scenario-based risk analysis

B. Quantitative risk analysis

C. Qualitative risk analysis

D. Monte Carlo analysis

View answer

Correct Answer: C

Question #70

Which of the following is the primary project artifact used to capture risks, strategies, ownership patterns, and other vital information about an organization's project risk baseline?

A. Risk action plan with owners

B. Risk register

C. Mitigation plan

D. Risk management plan

View answer

Correct Answer: B

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