PMI-RMP Dumps & Mock Exam for Success, PMI Risk Management Professional

Question #1

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: D

Question #2

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: B

Question #3

You work as a project manager for BlueWell Inc. You are preparing to plan risk responses for your project with your team. How many risk response types are available for a negative risk event in the project?

A. Four

B. One

C. Three

D. Seven

View answer

Correct Answer: A

Question #4

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 #5

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 allowedto be

B. The project's cost management plan provides direction on how costs may be changed due to identifiedrisks

C. The project's cost management plan provides control that may help determine the structure for quantitativeanalysis 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 #6

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: D

Question #7

Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines?

A. New or omitted work as part of a risk response can cause changes to the cost and/or schedule baseline

B. Risk responses protect the time and investment of the project

C. Risk responses may take time and money to implement

D. Baselines should not be updated, but refined through versions

View answer

Correct Answer: A

Question #8

Jenny is the project manager of the NHJ Project for her company. She has identified several positive risk events within the project and she thinks these events can save the project time and money. You, a new team member wants to know that how many risk responses are available for a positive risk event. What will Jenny reply to you?

A. Four

B. Three

C. Seven

D. Acceptance is the only risk response for positive risk events

View answer

Correct Answer: A

Question #9

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 #10

The Project Risk Management knowledge area focuses on which of the following processes? Each correct answer represents a complete solution. Choose all that apply.

A. Quantitative Risk Analysis

B. Risk Monitoring and Control

C. Potential Risk Monitoring

D. Risk Management Planning

View answer

Correct Answer: ABD

Question #11

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: C

Question #12

Don is the project manager of the PFO project for his organization. Don is working with the project team members and two subject matter experts to assess the identified risk events in the project. Which of the following approaches is the best to assess the risk events in the project?

A. Determination of the true cost of the risk event

B. Probability and Impact Matrix

C. Root cause analysis

D. Interviews or meetings

View answer

Correct Answer: D

Question #13

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: C

Question #14

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: B

Question #15

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 #16

You are the project manager of the NHQ project for your company. You are working with your project team to complete a risk audit. A recent issue that your project team responded to, and management approved, was to increase the project schedule because there was risk surrounding the installation time of a new material. Your logic was that with the expanded schedule there would be time to complete the installation without affecting downstream project activities. What type of risk response is being audited in

A. Parkinson's Law

B. Mitigation

C. Avoidance

D. Lag Time

View answer

Correct Answer: B

Question #17

You are the project manager of a large, high-profile project in your organization. You have realized that politics within your company may affect the true identification of risk events within the project. You decide that you'd like to use a method to identify risk events through an anonymous process. Which one of the following risk events will allow you to collect and distribute risk information without the stakeholders knowing what other stakeholders are communicating about the project risk events?

A. Surveys

B. Monte Carlo Technique

C. Checklist analysis

D. Delphi Technique

View answer

Correct Answer: D

Question #18

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: A

Question #19

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

A. At the Planning stage

B. Throughout the project life-cycle

C. At the Initiating stage

D. At the Executing stage

View answer

Correct Answer: A

Question #20

You are the project manager for the TTR project. You are in the process of gathering information for risk identification. You ask experts to participate in the process through their emails for maintaining anonymity. You collect the responses, summarize them, and are then re-circulated to the experts for further comment. Which of the following techniques are you using for risk identification?

A. Delphi

B. Expert judgment

C. SWOT analysis

D. Brainstorming

View answer

Correct Answer: A

Question #21

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 #22

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: A

Question #23

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: D

Question #24

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 #25

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 #26

You are the project manager for a construction project. The project involves casting of a column in a very narrow space. Because of lack of space, casting it is highly dangerous. High technical skill will be required for casting that column. You decide to hire a local expert team for casting that column. Which of the following types of risk response are you following?

A. Acceptance

B. Avoidance

C. Mitigation

D. Transference

View answer

Correct Answer: D

Question #27

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: A

Question #28

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: A

Question #29

Mary is a project manager in her organization. On her current project she is working with her project team and other key stakeholders to identify the risks within the project. She is currently aiming to create a comprehensive list of project risks so she is using a facilitator to help generate ideas about project risks. What risk identification method is Mary likely using?

A. Brainstorming

B. Delphi Techniques

C. Checklist analysis

D. Expert judgment

View answer

Correct Answer: D

Question #30

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: D

Question #31

Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

A. Project risk can happen at any moment

B. Project risk happens throughout the project execution

C. Project risk is always in the future

D. Project risk is uncertain, so no one can predict when the event will happen

View answer

Correct Answer: C

Question #32

You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants

A. Evaluate and document the bias towards the risk events

B. Evaluate the bias through SWOT for true analysis of the risk events

C. Document the bias for the risk events and communicate the bias with management

D. Evaluate the bias towards the risk events and correct the assessment accordingly

View answer

Correct Answer: D

Question #33

You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your project with your project team. How many risk responses are available for a positive risk event in the project?

A. Three

B. Four

C. Seven

D. One

View answer

Correct Answer: B

Question #34

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

A. Qualitative risk analysis

B. Quantitative risk analysis

C. Risk identification

D. Risk response implementation

View answer

Correct Answer: B

Question #35

Nancy is the project manager of the NHH project. She and the project team have identified a significant risk in the project during the qualitative risk analysis process. Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses. Bob disagrees and ensures Nancy that his response is most appropriate

A. Bob is correct

B. Bob is correct

C. Nancy is correct

D. Nancy is correct

View answer

Correct Answer: B

Question #36

You are the project manager of the NNH project. In this project you have created a contingency response that the cost performance index should be less than 0.93. The NHH project has a budget at completion of $945,000 and is 45 percent complete - though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What is the project's cost performance index?

A. 1

B. 0

C. -$30,647

D. 0

View answer

Correct Answer: D

Question #37

You are project manager for ABD project. You, with your team, are working on the following activities: Probabilistic analysis of a project. Probability of achieving cost and time objectives. Trends in Qualitative Risk Analysis results. On which of the following processes are you working on?

A. Plan Risk Management

B. Perform Quantitative Risk Analysis

C. Perform Qualitative Risk Analysis

D. Identify Risks

View answer

Correct Answer: C

Question #38

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 #39

You are the project manager of the NNH Project. In this project you have created a contingency response that the schedule performance index should be less than 0.93. The NHH Project has a budget at completion of $945,000 and is 45 percent complete though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What is the project's schedule performance index?

A. -$37,800

B. 0

C. 0

D. 1

View answer

Correct Answer: B

Question #40

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

A. Limited team members to complete the project work

B. Quality assurance programs within the company

C. Work permit requirements

D. Schedule constraints on the project

View answer

Correct Answer: A

Question #41

You are the project manager for your organization and you are working with Thomas, a project team member. You and Thomas have been working on a specific risk response for a probable risk event in the project. Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?

A. Risk expeditor

B. Risk owner

C. Risk team leader

D. Risk coordinator

View answer

Correct Answer: C

Question #42

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: B

Question #43

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

A. It depends on how many risks are initially identified

B. At least once per month

C. Identify risks is an iterative process

D. Several times until the project moves into execution

View answer

Correct Answer: A

Question #44

You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your project with your project team. How many risk responses are available for a positive risk event in the project?

A. Three

B. Four

C. Seven

D. One

View answer

Correct Answer: A

Question #45

Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy's organization will receive a bonus of $80,000 per day that the project is completed early up to $800,000. Tracy realizes that there are several opportunities within the project to save on time by crashing the project work. Crashing the project is what type of risk response?

A. Transference

B. Mitigation

C. Exploit

D. Enhance

View answer

Correct Answer: D

Question #46

Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

A. Project risk can happen at any moment

B. Project risk happens throughout the project execution

C. Project risk is always in the future

D. Project risk is uncertain, so no one can predict when the event will happen

View answer

Correct Answer: C

Question #47

You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?

A. Stakeholder power/interest grid

B. Influence/impact grid

C. Salience model

D. Stakeholder register

View answer

Correct Answer: D

Question #48

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

A. Project change control system

B. Integrated change control

C. Risk analysis

D. Configuration management

View answer

Correct Answer: B

Question #49

There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?

A. Acceptance

B. Sharing

C. Transference

D. Mitigation

View answer

Correct Answer: C

Question #50

You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?

A. Stakeholder power/interest grid

B. Influence/impact grid

C. Salience model

D. Stakeholder register

View answer

Correct Answer: C

Question #51

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: C

Question #52

You work as a project manager for BlueWell Inc. Management has asked you to work with the key project stakeholder to analyze the risk events you have identified in the project. They would like you to analyze the project risks with a goal of improving the project's performance as a whole. What approach can you use to achieve the goal of improving the project's performance through risk analysis with your project stakeholders?

A. Focus on the high-priority risks through qualitative risk analysis

B. Involve the stakeholders for risk identification only in the phases where the project directly affects them

C. Involve subject matter experts in the risk analysis activities

D. Use qualitative risk analysis to quickly assess the probability and impact of risk events

View answer

Correct Answer: A

Question #53

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

A. Risk register and the risk response plan

B. Risk register and power to assign risk responses

C. Risk register and the risk management plan

D. Risk register and the results of risk analysis

View answer

Correct Answer: C

Question #54

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 #55

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

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

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

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

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

View answer

Correct Answer: A

Question #56

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

A. Risks

B. Costs

C. Quality control concerns

D. Human resource needs

View answer

Correct Answer: A

Question #57

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: A

Question #58

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

A. Quantitative analysis

B. Qualitative analysis

C. Risk distribution

D. Monte Carlo Analysis

View answer

Correct Answer: A

Question #59

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

A. Project document updates

B. Change requests

C. Organizational process assets updates

D. Project management plan updates

View answer

Correct Answer: A

Question #60

Which of the following techniques examines the degree to which organizational strengths offset threats and opportunities that may serve to overcome weaknesses?

A. SWOT Analysis

B. Expert Judgment

C. Delphi

D. Brainstorming

View answer

Correct Answer: A

Question #61

Rex is the project manager of the BDF Project. This project will last for two years and has a budget of $2,345,000. Management has instructed Rex that the project must not go over budget as funds are very tight in the organization. During the project planning Rex and the project team discover a positive risk event to save $75,000. Rex wants to make certain that this risk event happens so which risk response method is most appropriate?

A. Share

B. Mitigation

C. Exploit

D. Enhance

View answer

Correct Answer: D

Question #62

John works as a project manager for ABD project. He and his team, are working on the following activities: Relative ranking or priority list of project risks Watchlists of low priority risk Trends in Qualitative Risk Analysis results On which of the following processes is John working on?

A. Perform Qualitative Risk Analysis

B. Plan Risk Management

C. Plan Risk Responses

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: A

Question #63

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

A. Exploitation

B. Transference

C. Acceptance

D. Mitigation

View answer

Correct Answer: A

Question #64

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: ACD

Question #65

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

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

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

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

D. All risks are recorded in the risk management plan

View answer

Correct Answer: B

Question #66

Holly is the project manager of the NSS Project for her company. She is discussing some of the project risks and the issues that have happened in the project. Holly has faxed the status report to her project client for their review. Based on the standard communication model, which component in this scenario is the decoder?

A. Project customer

B. Telephone wire

C. Holly

D. Project customer's fax machine

View answer

Correct Answer: D

Question #67

Frank is the project manager of the NHL Project for his company and he is starting the risk ActualTests.com identification process for the project. Frank needs to ensure that the correct stakeholders are interviewed as part of risk identification. What document will help Frank to communicate and solicit inputs of the project stakeholders during risk identification?

A. Project charter

B. Risk register

C. Requirements management plan

D. Stakeholder register

View answer

Correct Answer: D

Question #68

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 #69

You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?

A. Executing

B. Planning

C. Monitoring and Controlling

D. In any process group where the risk event resides

View answer

Correct Answer: B

Question #70

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 any relevant organizational process assets

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

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

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

View answer

Correct Answer: C

Question #71

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

A. It depends on how many risks are initially identified

B. At least once per month

C. Identify risks is an iterative process

D. Several times until the project moves into execution

View answer

Correct Answer: C

Question #72

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: D

Question #73

As a part of monitoring and controlling the project, the project manager should update the risk register. The project manager should update the risk register with information on risk reassessment, risk audits, and periodic risk reviews. What other information should the project manager update the risk register with?

A. Actual costs and schedule delays of risk events

B. Actual outcomes of risk management duties by the project team

C. Actual cost of risk events

D. Actual outcomes of the project's risks and of the risk responses

View answer

Correct Answer: D

Question #74

Which of the following is a risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold?

A. Avoidance

B. Exploit

C. Transference

D. Mitigation

View answer

Correct Answer: D

Question #75

You are the project manager of the NHQ Project for your company. You have completed qualitative and quantitative analysis of your identified project risks and you would now like to find an approach to increase project opportunities and to reduce threats within the project. What project management process would best help you?

A. Monitor and control project risks

B. Create a risk governance approach

C. Create the project risk register

D. Plan risk responses

View answer

Correct Answer: D

Question #76

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 newlydiscovered risk events throughout the project

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

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

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

View answer

Correct Answer: A

Question #77

Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?

A. The project scope statement must be understood to see the project requirements and the inherent risks of the project

B. The project scope statement will reveal the type of project as either a recurrent or first-of-its- kind project

C. The project scope identifies the risks associated with project constraints

D. The project scope statement must be reviewed to understand the quality requirements and the risksassociated with the demand for quality

View answer

Correct Answer: B

Question #78

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: A

Question #79

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

A. Monte Carlo Technique

B. Qualitative risk analysis process

C. Quantitative risk analysis process

D. Delphi Technique

View answer

Correct Answer: C

Question #80

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: B

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