PMI-RMP Exam Questions & Study Materials, PMI Risk Management Professional

Question #1

You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?

A. Risk planning

B. Risk identification

C. Risk monitoring and controlling

D. Risk analysis

View answer

Correct Answer: C

Question #2

Holly is the project manager of the NHQ project for her company. Her project sponsor, Tracy, has requested that Thomas, the department manager, from the Risk Management Department, will work with Holly to determine the effectiveness of the risk responses. Tracy and Thomas are concerned that some of the risks within Holly's project may not be addressed to depth they would like. In this scenario, who is responsible for ensuring that risk audits are performed at an appropriate frequency throughout the project?

A. Thomas

B. Tracy

C. The project team

D. Holly

View answer

Correct Answer: B

Question #3

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: D

Question #4

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: B

Question #5

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

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Correct Answer: A

Question #6

Which positive risk response best describes a teaming agreement?

A. Share

B. Exploit

C. Enhance

D. Venture

View answer

Correct Answer: B

Question #7

Which types of project tends to have more well-understood risks?

A. Operational work projects

B. First-of-its kind technology projects

C. Recurrent projects

D. State-of-art technology projects

View answer

Correct Answer: C

Question #8

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

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Correct Answer: C

Question #9

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: D

Question #10

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

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Correct Answer: A

Question #11

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: A

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: B

Question #13

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: A

Question #14

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: ACD

Question #15

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

A. These risks should be accepted

B. These risks should be placed on a watchlist for future monitoring

C. These risks should be identified, but dismissed

D. These risks should be placed in the risk register

View answer

Correct Answer: D

Question #16

Todd is the project manager of the EST project for his company. His organization has established certain rules in the enterprise environmental factors which affect the approach that Todd takes in managing his project. One of the rules requires Todd to consider the risk attitude of the stakeholders participating in risk analysis. Why must risk attitude be considered as a part of risk analysis?

A. Risk attitude can affect the measurement of probability and impact

B. Risk attitude can establish a stakeholder's influence over project decisions

C. Risk attitude identifies stakeholders that are hygiene seekers or motivation seekers

D. Risk attitude establishes stakeholders as positive or negative stakeholders

View answer

Correct Answer: A

Question #17

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: B

Question #18

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

A. Enterprise environmental factors

B. Project management plan

C. Risk register updates

D. Organizational process assets

View answer

Correct Answer: C

Question #19

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 #20

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 #21

During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?

A. Cost of the project

B. Risk rating

C. Warning signs

D. Symptoms

View answer

Correct Answer: A

Question #22

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 #23

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: B

Question #24

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: D

Question #25

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: ACDE

Question #26

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: A

Question #27

You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.

A. Organizational process assets

B. Cost management plan

C. Project scope statement

D. Risk register

View answer

Correct Answer: ACD

Question #28

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 #29

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 #30

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

A. These risks should be accepted

B. These risks should be placed on a watchlist for future monitoring

C. These risks should be identified, but dismissed

D. These risks should be placed in the risk register

View answer

Correct Answer: A

Question #31

You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?

A. Impact

B. Risk owner

C. Cost

D. Risk category

View answer

Correct Answer: D

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: D

Question #33

David is the project manager of HGF project for his company. David, the project team, and several key stakeholders have completed risk identification and are ready to move into qualitative risk analysis. Tracy, a project team member, does not understand why they need to complete qualitative risk analysis. Which one of the following is the best explanation for completing qualitative risk analysis?

A. It is a cost-effective means of establishing probability and impact for the project risks

B. Qualitative risk analysis helps segment the project risks, create a risk breakdown structure, and create fastand accurate risk responses

C. All risks must pass through quantitative risk analysis before qualitative risk analysis

D. It is a rapid and cost-effective means of establishing priorities for the plan risk responses and lays thefoundation for quantitative analysis

View answer

Correct Answer: D

Question #34

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: C

Question #35

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: C

Question #36

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 #37

Frank is a project team member in your project. Frank has been adding changes to the software interface for the software that your project is creating. Because Frank has been adding these features new risks have entered into the project. You elect that these additions should be removed from the project even if it takes extra time and money to remove the features. What are these riskladen features called?

A. Gold plating

B. Scope creep

C. Negative risks

D. Corrective actions

View answer

Correct Answer: B

Question #38

Wendy is about to perform qualitative risk analysis on the identified risks within her project. Which one of the following will NOT help Wendy to perform this project management activity?

A. Project scope statement

B. Risk management plan

C. Risk register

D. Stakeholder register

View answer

Correct Answer: D

Question #39

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: D

Question #40

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 #41

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 months

C. Approximately 13 months

D. Approximately 11 months

View answer

Correct Answer: A

Question #42

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: C

Question #43

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 risks associated with the demand for quality

View answer

Correct Answer: D

Question #44

Fred is the project manager of a large project in his organization. Fred needs to begin planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?

A. Variance and trend analysis

B. Information gathering techniques

C. Planning meetings and analysis

D. Data gathering and representation techniques

View answer

Correct Answer: ABD

Question #45

You are the project manager of the NHH project for your company. You have completed the first round of risk management planning and have created four outputs of the risk response planning ActualTests.com process. Which one of the following is NOT an output of the risk response planning?

A. Risk register updates

B. Organizational process assets updates

C. Project document updates

D. Risk-related contract decisions

View answer

Correct Answer: B

Question #46

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 #47

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 months

C. Approximately 13 months

D. Approximately 11 months

View answer

Correct Answer: D

Question #48

You are the project manager of a new project in your organization. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?

A. Cause-and-effect diagrams

B. Project network diagrams

C. Delphi Technique

D. Decision tree analysis

View answer

Correct Answer: A

Question #49

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: A

Question #50

Rob is the project manager of the IDLK Project for his company. This project has a budget of $5,600,000 and is expected to last 18 months. Rob has learned that a new law may affect how the project is allowed to proceed even though the organization has already invested over $750,000 in the project. What risk response is the most appropriate for this instance?

A. Acceptance

B. Transference

C. Mitigation

D. Enhance

View answer

Correct Answer: A

Question #51

Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?

A. Quality and costs

B. Cost and resource management

C. Risk and project planning

D. Costs and schedule

View answer

Correct Answer: D

Question #52

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

A. -$37,500

B. 0

C. 0

D. 0

View answer

Correct Answer: B

Question #53

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: D

Question #54

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

A. These risks should be accepted

B. These risks should be placed on a watchlist for future monitoring

C. These risks should be identified, but dismissed

D. These risks should be placed in the risk register

View answer

Correct Answer: D

Question #55

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: A

Question #56

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: B

Question #57

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 #58

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: D

Question #59

Frank is the project manager of the NHL Project for his company and he is starting the risk 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: A

Question #60

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: B

Question #61

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: A

Question #62

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: A

Question #63

You are the project manager for your organization. You have determined that an activity is too dangerous to complete internally so you hire licensed contractor to complete the work. The contractor, however, may not complete the assigned work on time which could cause delays in subsequent work beginning. This is an example of what type of risk event?

A. Internal

B. Secondary risk

C. Pure risk

D. Transference

View answer

Correct Answer: B

Question #64

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: C

Question #65

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: C

Question #66

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: A

Question #67

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: D

Question #68

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 #69

Joan is a project management consultant and she has been hired by a firm to help them identify risk events within the project. Joan would first like to examine the project documents including the plans, assumptions lists, project files, and contracts. What key thing will help Joan to discover risks within the review of the project documents?

A. The project documents will help the project manager, or Joan, to identify what risk identification approach isbest to pursue

B. Lack of consistency between the plans and the project requirements and assumptions can be the indicatorsof risk in the project

C. Poorly written requirements will reveal inconsistencies in the project plans and documents

D. Plans that have loose definitions of terms and disconnected approaches will reveal risks

View answer

Correct Answer: B

Question #70

Mark works as a project manager of the NNH project. In this project, he has created a contingency response that the cost performance index should be less than 0.91. The NHH project has a budget at completion of $950,000 and is 43 percent complete - though the project should be 50 percent complete. The project has spent $470,897 to reach the 43 percent complete milestone. What is the project's cost performance index?

A. 0

B. 0

C. 0

D. 0

View answer

Correct Answer: C

Question #71

You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?

A. Impact

B. Risk owner

C. Cost

D. Risk category

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Correct Answer: B

Question #72

Marsha is the project manager of the NHQ Project. There's a risk that her project team has identified, which could cause the project to be late by more than a month. Marsha does not want this risk event to happen so she devises extra project activities to ensure that the risk event will not happen. The extra steps, however, will cost the project an additional $10,000. What type of risk response is this approach?

A. Enhancing

B. Exploiting

C. Mitigation

D. Transference

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Correct Answer: C

Question #73

You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?

A. Create work breakdown structure process

B. Plan risk management process

C. Risk identification process

D. Define scope process

View answer

Correct Answer: B

Question #74

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. Risk register

B. Risk low-level watch list

C. Project scope statement

D. Project charter

View answer

Correct Answer: BCD

Question #75

Fred is the project manager of a large project in his organization. Fred needs to begin planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?

A. Variance and trend analysis

B. Information gathering techniques

C. Planning meetings and analysis

D. Data gathering and representation techniques

View answer

Correct Answer: C

Question #76

Frances is the project manager of a project in her organization. This project has a budget of $567,000 and is schedule to last for three years. Frances wants to examine the risk events to determine which risk events have the most potential impact on the project. Which modeling technique can help Frances to accomplish this goal?

A. Expected monetary value

B. Sensitivity analysis

C. Quantitative risk analysis

D. Modeling and simulation

View answer

Correct Answer: B

Question #77

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 projectschedule

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: A

Question #78

You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?

A. Mitigation management plan

B. Mitigation plan

C. Fallback plan

D. Risk response plan

View answer

Correct Answer: A

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