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Pass Your Exams with Comprehensive PMI-RMP Exam Questions & Answers | SPOTO

The PMI Risk Management Professional (PMI-RMP®) certification is a prestigious recognition of expertise in risk management within project management. At SPOTO, we offer premium practice questions and exam preparation resources tailored for PMI-RMP candidates. Our high-quality mock exams replicate the real exam scenario, providing a comprehensive practice environment. These mock exams cover essential topics like risk planning, risk identification, risk evaluation, risk response development, and risk monitoring, ensuring thorough preparation. With detailed exam answers, candidates can assess their knowledge and strengthen weak areas. Our exam practice materials are structured to enhance exam readiness and boost confidence. Utilizing our exam simulator, candidates can experience timed practice sessions, improving time management skills crucial for the exam. Access to real exam questions and exam sample questions further refines candidates' preparation, ensuring they are well-equipped to excel in the PMI-RMP certification exam.

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Question #1
Your organization has a project that is expected to last 20 months but the customer would really like the project completed in 18 months. You have worked on similar projects in the past and believe that you could fast track the project and reach the 18 month deadline. What increases when you fast track a project?
A. Resources
B. Costs
C. Communication
D. Risks
View answer
Correct Answer: D
Question #2
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: B
Question #3
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: C
Question #4
Which positive risk response best describes a teaming agreement?
A. Share
B. Exploit
C. Enhance
D. Venture
View answer
Correct Answer: A
Question #5
Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?
A. Risk management plan
B. Project sponsor
C. Risk response plan
D. Look-up table
View answer
Correct Answer: B
Question #6
Who is responsible for the stakeholder expectations management in a high-profile, high- risk project?
A. Project risk assessment officer
B. Project management office
C. Project sponsor
D. Project manager
View answer
Correct Answer: D
Question #7
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
View answer
Correct Answer: B
Question #8
Your project spans the entire organization. You would like to assess the risk of the project but are worried that some of the managers involved in the project could affect the outcome of any risk identification meeting. Your worry is based on the fact that some employees would not want to publicly identify risk events that could make their supervisors look bad. You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?
A. Delphi technique
B. Isolated pilot groupsC
D. Root cause analysis
View answer
Correct Answer: A
Question #9
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: C
Question #10
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
View answer
Correct Answer: D
Question #11
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 #12
Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?
A. Risk management plan
B. Project sponsor
C. Risk response plan
D. Look-up table
View answer
Correct Answer: A
Question #13
Neil works as a project manager for SoftTech Inc. He is working with Tom, the COO of his company, on several risks within the project. Tom understands that through qualitative analysis Neil has identified many risks in the project. Tom's concern, however, is that the priority list of these risk events are sorted in "high-risk," "moderaterisk," and "low-risk" as conditions apply within the project. Tom wants to know that is there any other objective on which Neil can make the priority list for project risks.
A. Risks may be listed by the additional analysis and response ActualTests
B. Risk may be listed by the responses in the near-term
C. Risks may be listed by priority separately for schedule, cost, and performance
D. Risks may be listed by categories
View answer
Correct Answer: C
Question #14
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: C
Question #15
You are the project manager of your organization. Your organization will receive a bonus if the project finishes by December 20. Management has communicated this bonus to you and your project team and has asked you to evaluate the project to see if it is possible to realize the reward. The bonus offered to your organization is $750,000. You have examined the project and believe that you can crash the project for an additional $275,000 and reach the December 20 date. Management is thrilled with your assessme
A. Crashing can be a type of the enhancing risk response
B. Crashing can be considered transference because of the $275,000 is actually paid from the bonus, which ispaid by the project customer
C. Crashing can be a type of the exploit risk response
D. Crashing is the addition of labor, not a risk response
View answer
Correct Answer: A
Question #16
You are a risk auditor for your company. You are reviewing the contract types a project manager has used in her project. Of the following, which contract type has the most risk for the project manager as a buyer?
A. Cost plus percentage of costs
B. Time and material
C. Cost plus incentive fee
D. Fixed-price, incentive fee
View answer
Correct Answer: A
Question #17
You are the project manager of the GHG project for your company. You have identified the project risks, completed qualitative and quantitative analysis, and created risk responses. You also need to document how and when risk audits will be performed in the project. Where will you define the frequency of risk audits?
A. Risk response plan
B. Quality management plan
C. Risk management plan
D. Schedule management plan
View answer
Correct Answer: C
Question #18
You are the project manager of the NHH Project for your company and 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. Now, you would like to assign risk owners to the events. Which risk events should have risk response owners?
A. Only the risks with a high risk rating
B. Each agreed-to and funded risk response should have a risk response owner
C. Each risk that has a risk response should have a risk response owner
D. Only the risk events that are considered a negative risk event with a high risk rating
View answer
Correct Answer: C
Question #19
You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?
A. Expert judgment
B. Data gathering and representation techniques
C. Organizational process assets
D. Quantitative risk analysis and modeling techniques
View answer
Correct Answer: D
Question #20
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 ofachieving project objectives
A. Four
B. One
C. Three
D. Seven
View answer
Correct Answer: A
Question #21
Which of the following documents is described in the statement below? "It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
A. Risk management plan
B. Project charter
C. Risk register
D. Quality management plan
View answer
Correct Answer: C
Question #22
Yolanda is the project manager of a high-profile project for her organization. This project has 124 stakeholders from across the organization and many of the stakeholders have high demands and expectations for the project. Yolanda will need several pieces of project information as she begins to communicate and manage the stakeholder expectations. Which of the following inputs of the manage stakeholder expectations process directly addresses the risks that could affect the project and which must be communica
A. Change log
B. Low-level risks watchlist
C. Issue log
D. Stakeholder register
View answer
Correct Answer: D
Question #23
Amy is the project manager for her company. In her current project the organization has a very low tolerance for risk events that will affect the project schedule. Management has asked Amy to consider the affect of all the risks on the project schedule. What approach can Amy take to create a bias against risks that will affect the schedule of the project?
A. She can create an overall project rating scheme to reflect the bias towards risks that affect the project schedule
B. She can filter all risks based on their affect on schedule versus other project objectives
C. She can have the project team pad their time estimates to alleviate delays in the project schedule
D. She can shift risk-laden activities that affect the project schedule from the critical path as much as possible
View answer
Correct Answer: D
Question #24
Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?
A. Corrective action
B. Risk audit
C. Technical performance measurement
D. Earned value management
View answer
Correct Answer: A
Question #25
You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?
A. The project's cost management plan can help you to determine what the total cost of the project is allowed to be
B. The project's cost management plan provides direction on how costs may be changed due to identified risks
C. The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget
D. The project's cost management plan is not an input to the quantitative risk analysis process
View answer
Correct Answer: C
Question #26
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
View answer
Correct Answer: D
Question #27
You are working with the project stakeholders to analyze and prioritize their requirements for the project. One of the project requirements is to achieve a high-level of customer satisfaction for the project deliverable. What is the danger in this project requirement?
A. Achieving customer satisfaction is an assumption and should be documented in the project scope
B. Achieving customer satisfaction is a subjective requirement and entails a high level of risk of being successfully accomplished
C. Achieving customer satisfaction is a risk as the project manager cannot control how satisfied the customer will be with the project deliverables
D. Achieving customer satisfaction should always map to the quality requirements for the project
View answer
Correct Answer: D
Question #28
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 ActualTests.com on the scenario in the project?
A. Avoidance
B. Acceptance
C. Sharing
D. Transference
View answer
Correct Answer: B
Question #29
Shawn is the project manager of the WHT Project for his company. In this project Shawn's team reports that they have found a way to complete the project work for less cost than what was originally planned. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes to the project management plan accordingly. What type of risk
A. Avoidance
B. Exploiting
C. Accepting
D. Enhancing
View answer
Correct Answer: B
Question #30
You are the project manager for GHY Project and are working to create a risk response for a 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
View answer
Correct Answer: B
Question #31
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
View answer
Correct Answer: ABD
Question #32
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
View answer
Correct Answer: C
Question #33
Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?
A. Resource management plan
B. Project plan
C. Project management plan
D. Risk management plan
View answer
Correct Answer: B
Question #34
Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?
A. Risk management plan
B. Project sponsor
C. Risk response plan
D. Look-up table
View answer
Correct Answer: D
Question #35
Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?
A. Project risk assessment officer
B. Project management office
C. Project sponsor
D. Project manager
View answer
Correct Answer: D
Question #36
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
View answer
Correct Answer: D
Question #37
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: ACD
Question #38
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 #39
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 #40
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: C
Question #41
Which of the following components ensures that risks are examined for all new proposed change requests in the change control system?
A. Risk monitoring and control
B. Scope change control
C. Integrated change control
D. Configuration management
View answer
Correct Answer: A
Question #42
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: C
Question #43
Lisa is the project manager of the FKN project for her organization. She is working with Sam, the CIO, to discuss a discount the vendor has offered the project based on the amount of materials that is ordered. Lisa and Sam review the offer and agree that while their project may qualify for the discounted materials the savings is nominal and they would not necessarily pursue the savings. Lisa documents this positive risk response in the risk register. What risk response is this?
A. Enhance
B. Transference
C. Share
D. Acceptance
View answer
Correct Answer: D
Question #44
You work as a project manager for BlueWell Inc. You with your team are using a method or a (technical) process that conceives the risks even if all theoretically possible safety measures would be applied. One of your team member wants to know that what is a residual risk. What will you reply to your team member?
A. It is a risk that can not be addressed by a risk response
B. It is a risk that will remain no matter what type of risk response is offered
C. It is a risk that remains because no risk response is taken
D. It is a risk that remains after planned risk responses are taken
View answer
Correct Answer: B
Question #45
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 #46
You are preparing to start the qualitative risk analysis process for your project. You will be relying on some organizational process assets to influence the process. Which one of the following is NOT a probable reason for relying on organizational process assets as an input for qualitative risk analysis?
A. Studies of similar projects by risk specialists
B. Risk databases that may be available from industry sources
C. Review of vendor contracts to examine risks in past projects
D. Information on prior, similar projects
View answer
Correct Answer: A
Question #47
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: C
Question #48
Jeff, a key stakeholder in your project, wants to know how the risk exposure for the risk events is calculated during quantitative risk analysis. He is worried about the risk exposure which is too low for the events surrounding his project requirements. How is the risk exposure calculated?
A. The risk exposure of a risk event is determined by historical information
B. The probability of a risk event times the impact of a risk event determines the true risk exposure
C. The probability of a risk event plus the impact of a risk event determines the true risk exposure
D. The probability and impact of a risk event are gauged based on research and in-depth analysis
View answer
Correct Answer: B
Question #49
You are the project manager of the GHY project. In your organization you must follow certain enterprise environmental factors that establish the rules for risk management . One of the policies your project must adhere to requires periodic rapid analysis of risks within the project. These rapid, cost-effective session must be documented and performed monthly. What type of analysis are you required to perform according to your enterprise environmental factors?
A. Brainstorming
B. Qualitative analysis
C. Delphi Technique
D. Quantitative analysis
View answer
Correct Answer: B
Question #50
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: A
Question #51
You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?
A. Monthly
B. Once per project life cycle phase
C. Quarterly
D. Vary depending on the situations within the project
View answer
Correct Answer: A
Question #52
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
View answer
Correct Answer: C
Question #53
The risk transference is referred to the transfer of risks to a third party, usually for a fee, it creates a contractual-relationship for the third party to manage the risk on behalf of the performing organization. Which one of the following is NOT an example of the transference risk response?
A. Use of insurance
B. Warranties
C. Life cycle costing
D. Performance bonds
View answer
Correct Answer: D
Question #54
You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?
A. IRGC addresses questions such as the understanding of the secondary impacts of a risk
B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks
C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks
D. IRGC is both a concept and a tool
View answer
Correct Answer: D
Question #55
You work as a project manager for BlueWell Inc. You have declined a proposed change request because of the risk associated with the proposed change request. Where should the declined change request be documented and stored?
A. Change request log
B. Lessons learned
C. Project archives
D. Project document updates
View answer
Correct Answer: B
Question #56
You are the project manager of the CUL project in your organization. You and the project team are assessing the risk events and creating a probability and impact matrix for the identified risks. Which one of the following statements best describes the requirements for the data type used in qualitative risk analysis?
A. A qualitative risk analysis requires fast and simple data to complete the analysis
B. A qualitative risk analysis requires accurate and unbiased data if it is to be credible
C. A qualitative risk analysis encourages biased data to reveal risk tolerances
D. A qualitative risk analysis required unbiased stakeholders with biased risk tolerances
View answer
Correct Answer: B
Question #57
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
View answer
Correct Answer: B
Question #58
Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?
A. The quantitative risk analysis process will review risk events for their probability and impact on the projectobjectives
B. The quantitative risk analysis seeks to determine the true cost of each identified risk event and theprobability of each risk event to determine the risk exposure
C. The quantitative risk analysis process will analyze the effect of risk events that may substantially impact theproject's competing demands
D. The quantitative risk analysis reviews the results of risk identification and prepares the project for riskresponse management
View answer
Correct Answer: C
Question #59
You are the project manager of the GHG project for your company. You have identified the project risks, completed qualitative and quantitative analysis, and created risk responses. You also need to document how and when risk audits will be performed in the project. Where will you define the frequency of risk audits?
A. Risk response plan
B. Quality management plan
C. Risk management plan
D. Schedule management plan
View answer
Correct Answer: C
Question #60
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
View answer
Correct Answer: C
Question #61
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: D
Question #62
You are the project manager of the GHQ project for your company. You are working with your project team to prepare for the qualitative risk analysis process. Mary, a project team member, does not understand why you need to complete qualitative risks analysis. You explain to Mary that qualitative risks analysis helps you determine which risks needs additional analysis. There are also some other benefits that qualitative risks analysis can do for the project. Which one of the following is NOT an accomplishmen
A. Corresponding impact on project objectives
B. Time frame for a risk response
C. Prioritization of identified risk events based on probability and impact
D. Cost of the risk impact if the risk event occurs
View answer
Correct Answer: A
Question #63
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
View answer
Correct Answer: A
Question #64
Bill is the project manager of the JKH Project. He and the project team have identified a risk event in the project with a high probability of occurrence and the risk event has a high cost impact on the project. Bill discusses the risk event with Virginia, the primary project customer, and she decides that the requirements surrounding the risk event should be removed from the project. The removal of the requirements does affect the project scope, but it can release the project from the high risk exposure. W
A. Mitigation
B. Transference
C. Acceptance
D. Avoidance
View answer
Correct Answer: C
Question #65
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 apart of monitoring and controlling
B. Quantitative risk analysis process will be completed again after new risks are identified and as part ofmonitoring and controlling
C. Quantitative risk analysis process will be completed again after the risk response planning and as a part ofmonitoring and controlling
D. Quantitative risk analysis process will be completed again after the plan risk response planning and as partof procurement
View answer
Correct Answer: C
Question #66
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
View answer
Correct Answer: C
Question #67
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 #68
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
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Correct Answer: A
Question #69
You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?
A. All risks must have a valid, documented risk response
B. These risks can be accepted
C. These risks can be added to a low priority risk watch list
D. These risks can be dismissed
View answer
Correct Answer: D
Question #70
Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?
A. Wendy can determine a true project completion date
B. Wendy can track the cost and schedule variances
C. Wendy can review quality performance on baselines
D. Wendy can forecast deviation of the project cost and schedule for completion targets
View answer
Correct Answer: A
Question #71
You are a risk auditor for your company. You are reviewing the contract types a project manager has used in her project. Of the following, which contract type has the most risk for the project manager as a buyer?
A. Cost plus percentage of costs
B. Time and material
C. Cost plus incentive fee
D. Fixed-price, incentive fee
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Correct Answer: A
Question #72
Where can a project manager find risk-rating rules?
A. Risk management plan
B. Organizational process assets
C. Enterprise environmental factors
D. Risk probability and impact matrix
View answer
Correct Answer: B
Question #73
Eric is the project manager of the MTC project for his company. In this project a vendor has offered Eric a sizeable discount on all hardware if his order total for the project is more than $125,000. Right now, Eric is likely to spend $118,000 with vendor. If Eric spends $7,000 his cost savings for the project will be $12,500, but he cannot purchase hardware if he cannot implement the hardware immediately due to organizational policies. Eric consults with Amy and Allen, other project managers in the organiz
A. Sharing
B. Exploiting
C. Transference
D. Enhancing
View answer
Correct Answer: D
Question #74
You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review of each identified risk event?
A. A risk probability-impact matrix
B. Quantitative risk analysis
C. Seven risk responses
D. Qualitative risk analysis
View answer
Correct Answer: D
Question #75
You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure: If Risk D happens in this project, how much will be left in the contingency reserve?
A. $440,000
B. $233,500
C. $258,500
D. $243,500
View answer
Correct Answer: D
Question #76
There are four inputs to the Monitoring and Controlling Project Risks process. Which one of the following will NOT help you, the project manager, to prepare for risk monitoring and controlling?
A. Work Performance Information
B. Project management plan
C. Risk register
D. Change requests
View answer
Correct Answer: D
Question #77
You are the project manager of the GYH project for your organization. Management has asked you to begin identifying risks and to use an information gathering technique. Which one of the following risk identification approaches is an information gathering technique?
A. Root cause analysis
B. Assumptions analysis
C. SWOT analysis
D. Documentation reviews
View answer
Correct Answer: A
Question #78
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 #79
During which of the following processes, probability and impact matrix is prepared?
A. Perform Qualitative Risk Analysis
B. Monitoring and Control Risks
C. Plan Risk Responses
D. Perform Quantitative Risk Analysis
View answer
Correct Answer: B
Question #80
You are preparing to start the qualitative risk analysis process for your project. You will be relying on some organizational process assets to influence the process. Which one of the following is NOT a probable reason for relying on organizational process assets as an input for qualitative risk analysis?
A. Studies of similar projects by risk specialists
B. Risk databases that may be available from industry sources
C. Review of vendor contracts to examine risks in past projects
D. Information on prior, similar projects
View answer
Correct Answer: C
Question #81
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: D
Question #82
You work as a project manager for TechSoft Inc. You are working with the project stakeholders on the qualitative risk analysis process in your project. You have used all the tools to the qualitative risk analysis process in your project. Which of the following techniques is NOT used as a tool in qualitative risk analysis process?
A. Risk Urgency Assessment
B. Risk Categorization
C. Risk Reassessment
D. Risk Data Quality Assessment
View answer
Correct Answer: A
Question #83
Kelly is the project manager of the BHH project for her organization. She is completing the risk identification process for this portion of her project. Which one of the following is the only thing that the risk identification process will create for Kelly?
A. Risk register
B. Risk register updates
C. Change requests
D. Project document updates
View answer
Correct Answer: C
Question #84
You are the project manager for your organization. You have identified a risk event you're your organization could manage internally or externally. If you manage the event internally it will cost your project $578,000 and an additional $12,000 per month the solution is in use. A vendor can manage the risk event for you. The vendor will charge $550,000 and $14,500 per month that the solution is in use. How many months will you need to use the solution to pay for the internal solution in comparison to the ven
A. Approximately 8 months
B. Approximately 15 monthsC
D. Approximately 11 months
View answer
Correct Answer: C

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