PMI-RMP Certification Exam Sample, Free Exam Resources for Success

Question #1

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

A. -$217,500

B. 20 percent

C. -$174,000

D. -$269,000

View answer

Correct Answer: D

Question #2

Adrian is the project manager of the NHP Project. In her project there are several work packages that deal with electrical wiring. Rather than to manage the risk internally she has decided to hire a vendor to complete all work packages that deal with the electrical wiring. By removing the risk internally to a licensed electrician Adrian feels more comfortable with project team being safe. What type of risk response has Adrian used in this example?

A. Avoidance

B. Mitigation

C. Acceptance

D. Transference

View answer

Correct Answer: D

Question #3

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: C

Question #4

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: B

Question #5

Beth is the project manager of the BFG Project for her company. In this project Beth has decided to create a contingency response based on the performance of the project schedule. If the project schedule variance is greater than $10,000 the contingency plan will be implemented. What is the formula for the schedule variance?

A. SV=EV/PV

B. SV=PV-EV

C. SV=EV/AC

D. SV=EV-PV

View answer

Correct Answer: A

Question #6

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: A

Question #7

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

A. Trends in qualitative risk analysis

B. Risk probability-impact matrix

C. Watchlist of low-priority risks

D. Risks grouped by categories

View answer

Correct Answer: C

Question #8

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 #9

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

A. Enhance

B. Exploit

C. Acceptance

D. Share

View answer

Correct Answer: C

Question #10

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

A. Monitor and Control risk

B. Configuration Management

C. Integrated Change control

D. Scope Change control

View answer

Correct Answer: B

Question #11

You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a financial impact on the project of $450,000. This risk event has a 70 percent chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but it will cost $260,000 to implement. Management agrees with the solution and asks that you include the risk response in the project plan.

A. This is mitigation because the response reduces the probability

B. This is not a risk response, but a change request

C. This is transference because of the $260,000 cost of the solution

D. This is avoidance because the risk response caused the project plan to be changed

View answer

Correct Answer: B

Question #12

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

A. Monitor and Control risk

B. Configuration Management

C. Integrated Change control

D. Scope Change control

View answer

Correct Answer: B

Question #13

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

A. Risk Limitation

B. Perform Qualitative Risk Analysis

C. Identify Risk

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: D

Question #14

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

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

B. Include the responses in the project management plan

C. Nothin

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

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

View answer

Correct Answer: A

Question #15

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

View answer

Correct Answer: C

Question #16

You work as the project manager for BlueWell Inc. You are monitoring the project performance. You want to make a decision to change the project plan to eliminate a risk in order to protect the project objectives. Which of the following strategies will you use to tackle the risk?

A. Risk mitigation

B. Risk avoidance

C. Risk acceptance

D. Risk transference

View answer

Correct Answer: B

Question #17

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

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

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

C. The checklist analysis approach only uses qualitative analysis

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

View answer

Correct Answer: A

Question #18

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: C

Question #19

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

View answer

Correct Answer: C

Question #20

Risks with low ratings of probability and impact are included on a for future monitoring.

A. Risk alarm

B. Watchlist

C. Observation list

D. Risk register

View answer

Correct Answer: A

Question #21

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

A. Teaming agreements

B. Transference

C. Crashing the project

D. Fast tracking the project

View answer

Correct Answer: D

Question #22

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

A. Risk potential responses

B. Risk schedule

C. Risk owner

D. Risk cost

View answer

Correct Answer: C

Question #23

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

A. Project change control system

B. Integrated change control

C. Risk analysis

D. Configuration management

View answer

Correct Answer: D

Question #24

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

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

B. Add the identified risk to the issues log

C. Add the identified risk to the risk register

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

View answer

Correct Answer: D

Question #25

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

A. Risk Communication

B. IRGC

C. Risk Response Planning

D. Risk Governance

View answer

Correct Answer: A

Question #26

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

A. Expert judgment

B. Expected monetary value

C. Sensitivity

D. Modeling and simulation

View answer

Correct Answer: B

Question #27

You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

A. Some responses are designed for use only if certain events occur

B. Some responses have a cost and a time factor to consider for each risk event

C. Some responses must counteract pending risk events

D. Quantified risks should always have contingency responses

View answer

Correct Answer: D

Question #28

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

A. Exploiting

B. Avoidance

C. Sharing

D. Transference

View answer

Correct Answer: C

Question #29

A project manager must have certain interpersonal skills to communicate with stakeholders and manage their expectations of the project work. Which of the following interpersonal skills has been identified as one of the biggest reasons for project success or failure?

A. Motivation

B. Communication

C. Influencing

D. Political and cultural awareness

View answer

Correct Answer: C

Question #30

Fill in the blank with an appropriate phrase. ______ are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing.

A. Pure risks

View answer

Correct Answer: C

Question #31

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

A. $440,000

B. $233,500

C. $258,500

D. $243,500

View answer

Correct Answer: B

Question #32

Pete works as a project manager for BlueWell Inc. The Management has told him that he must implement an agreed-upon contingency response if the cost performance index in his project is less than 0.90. Consider that Pete's project has a budget at completion of $275,000. His project is 65 percent complete and he has spent $175,000 to date. However, Pete is scheduled to be 78 percent complete. What is the cost performance index for this project to determine if the contingency response should happen?

A. 1

B. 0

C. 0

D. 0

View answer

Correct Answer: A

Question #33

Joan is the project manager of the BTT project for her company. She has worked with her project to create risk responses for both positive and negative risk events within the project. As a result of this process Joan needs to update the project document updates. She has updated the assumptions log as a result of the findings and risk responses, but what other documentation will need to be updated as an output of risk response planning?

A. Scope statement

B. Lessons learned

C. Risk Breakdown Structure

D. Technical documentation

View answer

Correct Answer: D

Question #34

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: B

Question #35

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

A. -$217,500

B. 20 percent

C. -$174,000

D. -$269,000

View answer

Correct Answer: A

Question #36

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

A. Bias towards risk in new resources

B. Risk probability and impact matrixes

C. Risk identification

D. Uncertainty in values such as duration of schedule activities

View answer

Correct Answer: D

Question #37

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

A. Teaming agreements

B. Transference

C. Crashing the project

D. Fast tracking the project

View answer

Correct Answer: C

Question #38

You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform distribution method for a portion of the project. Which part of your project is most likely to have a uniform risk distribution?

A. Late completion stages of a project

B. Project phases that deal with "cutover" technologies

C. Early concept stage of design

D. Project initiating

View answer

Correct Answer: C

Question #39

Sam is the project manager of a construction project in south Florida. This area of the United States is prone to hurricanes during certain parts of the year. As part of the project plan Sam and the project team acknowledge the possibility of hurricanes and the damage the hurricane could have on the project's deliverables, the schedule of the project, and the overall cost of the project. Once Sam and the project stakeholders acknowledge the risk of the hurricane they go on planning the project as if the ris

A. Active acceptance

B. Passive acceptance

C. Avoidance

D. Mitigation

View answer

Correct Answer: D

Question #40

You work as a project manager for BlueWell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decided, with your stakeholders' approval, to fast track the project work to get the project done faster. When you fast track the project which of the following are likely to increase?

A. Costs

B. Quality control concerns

C. Human resource needs

D. Risks

View answer

Correct Answer: D

Question #41

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

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

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

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

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

View answer

Correct Answer: D

Question #42

You are the project manager of the GHG project. You are preparing for the quantitative risk analysis process. You are using organizational process assets to help you complete the quantitative risk analysis process. Which one of the following is NOT a valid reason to utilize organizational process assets as a part of the quantitative risk analysis process?

A. You will use organizational process assets for risk databases that may be available from industry sources

B. You will use organizational process assets for studies of similar projects by risk specialists

C. You will use organizational process assets to determine costs of all risks events within the current project

D. You will use organizational process assets for information from prior similar projects

View answer

Correct Answer: C

Question #43

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 #44

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

A. Bias towards risk in new resources

B. Risk probability and impact matrixes

C. Risk identification

D. Uncertainty in values such as duration of schedule activities

View answer

Correct Answer: D

Question #45

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

View answer

Correct Answer: A

Question #46

Joan is the project manager of the BTT project for her company. She has worked with her project to create risk responses for both positive and negative risk events within the project. As a result of this process Joan needs to update the project document updates. She has updated the assumptions log as a result of the findings and risk responses, but what other documentation will need to be updated as an output of risk response planning?

A. Scope statement

B. Lessons learned

C. Risk Breakdown Structure

D. Technical documentation

View answer

Correct Answer: B

Question #47

When monitoring the execution quality of risk-related plans and processes, which of the following would be a useful metric to track and record?

A. The number of risks in the project register

B. The degree of variation from the baseline

C. The number of levels in the risk breakdown structure

D. The degree of variation from the risk response strategy

View answer

Correct Answer: B

Question #48

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

A. Pareto modeling

B. Expected Monetary Value

C. Analogous modeling

D. Monte Carlo Technique

View answer

Correct Answer: D

Question #49

You are the project manager of the GGH 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 quantitative risk analysis process. What things will you need as inputs for the quantitative risk analysis of the project in this scenario?

A. You will need the risk register, risk management plan, permission from the functional manager, and anyrelevant organizational process assets

B. You will need the risk register, risk management plan, cost management plan, schedule management plan,and any relevant organizational process assets

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

D. Quantitative risk analysis does not happen through the project manager in a functional ActualTests

View answer

Correct Answer: B

Question #50

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

View answer

Correct Answer: B

Question #51

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

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

B. Add the identified risk to the issues log

C. Add the identified risk to the risk register

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

View answer

Correct Answer: D

Question #52

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

A. List of mitigation techniques

B. List of key stakeholders

C. List of identified risks

D. List of potential responses

View answer

Correct Answer: B

Question #53

Beth is the project manager of the BFG Project for her company. In this project Beth has decided to create a contingency response based on the performance of the project schedule. If the project schedule variance is greater than $10,000 the contingency plan will be implemented. What is the formula for the schedule variance?

A. SV=EV/PV

B. SV=PV-EV

C. SV=EV/ACD

View answer

Correct Answer: D

Question #54

Della works as a project manager for Tech Perfect Inc. She is studying the documentation of planning of a project. The documentation states that there are twenty-eight stakeholders with the project. What will be the number of communication channels for the project?

A. 378

B. 300

C. 28

D. 250

View answer

Correct Answer: A

Question #55

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: C

Question #56

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

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

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

C. It can lead to developing effective risk responses

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

View answer

Correct Answer: C

Question #57

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

A. Risk audits

B. Stakeholder analysis as the project team is a stakeholder

C. Risk identification with the project team

D. Risk analysis

View answer

Correct Answer: A

Question #58

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 ActualTests.com 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

View answer

Correct Answer: B

Question #59

You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?

A. Stakeholder management strategy

B. Risk management plan

C. Risk register

D. Lessons learned documentation

View answer

Correct Answer: D

Question #60

Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?

A. Benefits

B. Opportunities

C. Ancillary constituent components

D. Contingency risks

View answer

Correct Answer: B

Question #61

John is the project manager of the NHQ Project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to make certain that he communicates about risk in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for John to communicate to the external stakeholders?

A. Risk Response Plan

B. Risk Management Plan

C. Communications Management Plan

D. Project Management Plan

View answer

Correct Answer: C

Question #62

Which of the following diagrams displays sensitivity analysis data?

A. Fishbone

B. Influence

C. Tornado

D. Cause and effect

View answer

Correct Answer: D

Question #63

You are the project manager of the GHY project for your organization. You are about to start the qualitative risk analysis process for the project and you need to determine the roles and responsibilities for conducting risk management. Where can you find this information?

A. Enterprise environmental factors

B. Risk register

C. Risk management plan

D. Staffing management plan

View answer

Correct Answer: C

Question #64

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

A. -$465,000

B. $171,500

C. -$258,500

D. $258,500

View answer

Correct Answer: B

Question #65

You are the project manager for Genpact Inc. You have established quarterly risk management meetings. Which of the following is not a component of a risk management meeting?

A. Assessing the overall status of risks in the project

B. Review of risk responses

C. Assessment or risk

D. The availability of the individual

View answer

Correct Answer: D

Question #66

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

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

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

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

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

View answer

Correct Answer: A

Question #67

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: C

Question #68

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

View answer

Correct Answer: BCD

Question #69

Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was a cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?

A. Don would because he is the project manager

B. Jerry would because of the contract type

C. Don would because of the contract type

D. Jerry would because he is the hired contractor

View answer

Correct Answer: C

Question #70

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

A. Issue

B. Assumption

C. Risk

D. Constraint

View answer

Correct Answer: A

Question #71

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

A. Expert judgment

B. Data gathering and representation techniques

C. Organizational process assets

D. Quantitative risk analysis and modeling techniques

View answer

Correct Answer: A

Question #72

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 #73

You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?

A. Stakeholder management strategy

B. Risk management plan

C. Risk register

D. Lessons learned documentation

View answer

Correct Answer: C

Question #74

Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?

A. Risk identification

B. Perform qualitative analysis

C. Perform quantitative analysis

D. Risk Breakdown Structure creation

View answer

Correct Answer: B

Question #75

You are the project manager of a large construction project. This project will last for 18 months and will cost $750,000 to complete. You are working with your project team, experts, and stakeholders to identify risks within the project before the project work begins. Management wants to know why you have scheduled so many risk identification meetings throughout the project rather than just initially during the project planning. What is the best reason for the duplicate risk identification sessions?

A. The iterative meetings allow the project manager and the risk identification participants to identify newly discovered risk events throughout the project

B. The iterative meetings allow all stakeholders to participate in the risk identification processes throughout the project phases

C. The iterative meetings allow the project manager to discuss the risk events which have passed the project and which did not happen

D. The iterative meetings allow the project manager to communicate pending risks events during project execution

View answer

Correct Answer: C

Question #76

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

A. Internal risk management strategy

B. Contingent response strategy

C. External risk response

D. Expert judgment

View answer

Correct Answer: C

Question #77

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: B

Question #78

Elizabeth is a project manager for her organization and she finds risk management to be very difficult for her to manage. She asks you, a lead project manager, at what stage in the project will risk management become easier. What answer best resolves the difficulty of risk management practices and the effort required?

A. Risk management only becomes easier the more often it is practiced

B. Risk management only becomes easier when the project is closed

C. Risk management only becomes easier when the project moves into project execution

D. Risk management is an iterative process and never becomes easier

View answer

Correct Answer: B

Question #79

Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?

A. Benefits

B. Opportunities

C. Ancillary constituent components

D. Contingency risks

View answer

Correct Answer: B

Question #80

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

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

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

C. Establish risk boundaries

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

View answer

Correct Answer: B

Question #81

You are the project manager for your organization. You are working with your key stakeholders in the qualitative risk analysis process. You understand that there is certain bias towards the risk events in the project that you need to address, manage, and ideally reduce. What solution does the PMBOK recommend to reduce the influence of bias during qualitative risk analysis?

A. Establish the definitions of the levels of probability and impact

B. Provide iterations of risk analysis for true reflection of a risk probability and impact

C. Isolate the stakeholders by project phases to determine their risk bias

D. Involve all stakeholders to vote on the probability and impact of the risk events

View answer

Correct Answer: A

Question #82

Adrian is a project manager for a new project using a technology that has recently been released and there's relatively little information about the technology. Initial testing of the technology makes the use of it look promising, but there's still uncertainty as to the longevity and reliability of the technology. Adrian wants to consider the technology factors a risk for her project. Where should she document the risks associated with this technology so she can track the risk status and responses?

A. Project scope statement

B. Risk register

C. Project charter

D. Risk low-level watch list

View answer

Correct Answer: B

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