PMI-RMP Practice Tests & Real Exam Dumps 2024 Updated , PMI Risk Management Professional

Question #1

You are the project manager for BlueWell Inc. You are reviewing the risk register for your project. The risk register provides much information to you, the project manager and to the project team during the risk response planning. All of the following are included in the risk register except for which item?

A. Network diagram analysis of critical path activities

B. Symptoms and warning signs of risks

C. List of potential risk responses

D. Trends in qualitative risk analysis results

View answer

Correct Answer: A

Question #2

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: D

Question #3

Examine the figure given below. What will be the expected monetary value of Risk C?

A. -$113,750

B. $175,000 if the risk event actually happens

C. -$175,000

D. -$27,000

View answer

Correct Answer: D

Question #4

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: D

Question #5

John works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?

A. Activity duration estimates

B. Schedule management plan

C. Risk management plan

D. Activity cost estimates

View answer

Correct Answer: A

Question #6

Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?

A. Resource management plan

B. Project plan

C. Project management plan

D. Risk management plan

View answer

Correct Answer: D

Question #7

Which of the following are parts of SWOT Analysis? Each correct answer represents a complete solution. Choose all that apply.

A. Opportunities

B. Tools

C. Weaknesses

D. Threats

E. Strengths

F. Optimism

View answer

Correct Answer: C

Question #8

You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will ActualTests.com be your reply?

A. IRGC addresses questions such as the understanding of the secondary impacts of a risk

B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging andexisting risks

C. IRGC addresses the development of resilience and the capacity of organizations and people to faceunavoidable risks

D. IRGC is both a concept and a tool

View answer

Correct Answer: B

Question #9

You are working as a project manager in your organization. You are nearing the final stages of project execution and looking towards the final risk monitoring and controlling activities. For your project archives, which one of the following is an output of risk monitoring and control?

A. Quantitative risk analysis

B. Risk audits

C. Requested changes

D. Qualitative risk analysis

View answer

Correct Answer: C

Question #10

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: A

Question #11

You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?

A. Risk Management Plan

B. Stakeholder management strategy

C. Resource Management Plan

D. Communications Management Plan

View answer

Correct Answer: A

Question #12

You are the project manager of the GHY Project for your company. You have completed the risk response planning with your project team. You now need to update the WBS. Why would the project manager need to update the WBS after the risk response planning process? Choose the best answer.

A. Because of work that was omitted during the WBS creation

B. Because of new work generated by the risk responses

C. Because of risk responses that are now activities

D. Because of risks associated with work packages

View answer

Correct Answer: B

Question #13

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: D

Question #14

You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?

A. Risk Management Plan

B. Stakeholder management strategy

C. Resource Management Plan

D. Communications Management Plan

View answer

Correct Answer: D

Question #15

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: B

Question #16

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: C

Question #17

Amy is the project manager for her company. In her current project the organization has a very low tolerance for risk events that will affect the project schedule. Management has asked Amy to consider the affect of all the risks on the project schedule. What approach can Amy take to create a bias against risks that will affect the schedule of the project?

A. She can create an overall project rating scheme to reflect the bias towards risks that affect the project schedule

B. She can filter all risks based on their affect on schedule versus other project objectives

C. She can have the project team pad their time estimates to alleviate delays in the project schedule

D. She can shift risk-laden activities that affect the project schedule from the critical path as much as possible

View answer

Correct Answer: B

Question #18

A risk manager schedules a project overview meeting with the project sponsor to provide an update on risk management progress.

A. Significant risks and issues and their planned responses

B. Risk matrix showing the distribution of high, medium, and low risks

C. Results of the last project risk brainstorming session

D. Summary feedback from the previous risk audit

View answer

Correct Answer: A

Question #19

You are the project manager of the GHY project. In your organization you must follow certain enterprise environmental factors that establish the rules for risk management . One of the policies your project must adhere to requires periodic rapid analysis of risks within the project. These rapid, cost-effective session must be documented and performed monthly. What type of analysis are you required to perform according to your enterprise environmental factors?

A. Brainstorming

B. Qualitative analysis

C. Delphi Technique

D. Quantitative analysis

View answer

Correct Answer: D

Question #20

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 #21

You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?

A. Monthly

B. Once per project life cycle phase

C. Quarterly

D. Vary depending on the situations within the project

View answer

Correct Answer: A

Question #22

Linda is the project manager of the NAB Project. One of the risks her project team has identified is too dangerous for the project team to manage internally so she has hired a vendor to complete this portion of the project and to manage the identified risk. What risk response has Linda used in this instance?

A. Transference

B. Avoidance

C. Contractual

D. Mitigation

View answer

Correct Answer: A

Question #23

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: A

Question #24

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 #25

You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?

A. Cause and effect diagrams

B. System or process flow charts

C. Predecessor and successor diagramming

D. Influence diagrams

View answer

Correct Answer: C

Question #26

You are the project manager of a large construction project. Part of the project involves the wiring of the electricity in the building your project is creating. You and the project team determine the electrical work is too dangerous to perform yourself so you hire an electrician to perform the work for the project. This is an example of what type of risk response?

A. Acceptance

B. Mitigation

C. Transference

D. Avoidance

View answer

Correct Answer: C

Question #27

Virginia is the project manager for her organization. She has hired a subject matter expert to interview the project stakeholders on certain identified risks within the project. The subject matter expert will assess the risk event with what specific goal in mind?

A. To determine the level of probability and impact for each risk event

B. To determine the bias of the risk event based on each person interviewed

C. To determine the probability and cost of the risk event

D. To determine the validity of each risk event

View answer

Correct Answer: A

Question #28

Diana is the project manager of the QPS project for her company. In this project Diana and the project team have identified a pure risk. Diana and the project team decided, along with the key stakeholders, to remove the pure risk from the project by changing the project plan altogether. What is a pure risk?

A. It is a risk event that is generated due to errors or omission in the project work

B. It is a risk event that is created by a risk response

C. It is a risk event that only has a negative side, such as loss of life or limb

D. It is a risk event that cannot be avoided because of the order of the work

View answer

Correct Answer: A

Question #29

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 #30

Mary is the project manager for the BLB project. She has instructed the project team to assemble, to review the risks. She has included the schedule management plan as an input for the quantitative risk analysis process. Why is the schedule management plan needed for quantitative risk analysis?

A. Mary will schedule when the identified risks are likely to happen and affect the project schedule

B. Mary will utilize the schedule controls and the nature of the schedule for the quantitative analysis of theschedule

C. Mary will use the schedule management plan to schedule the risk identification meetings throughout theremaining project

D. Mary will utilize the schedule controls to determine how risks may be allowed to change the projectschedule

View answer

Correct Answer: B

Question #31

During which of the following processes, probability and impact matrix is prepared?

A. Plan Risk Responses

B. Monitoring and Control Risks

C. Perform Qualitative Risk Analysis

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: C

Question #32

You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?

A. Define Scope

B. Plan Risk Responses

C. Plan Risk Management

D. Identify Risks

View answer

Correct Answer: D

Question #33

What project management plan is most likely to direct the quantitative risk analysis process for a project in a matrix environment?

A. Risk analysis plan

B. Staffing management plan

C. Human resource management plan

D. Risk management plan

View answer

Correct Answer: D

Question #34

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: C

Question #35

You are the program manager for your organization. Management is considering a new program but they are worried about the program risks that may affect the program success. You know that there are three positive risks responses and three negative risk responses that each risk can have. Management asks you which risk response would be most appropriate for a large risk event if they wanted to hire a third-party to own the risk event for the program. What risk event is most appropriate?

A. Avoidance

B. Sharing

C. Transference

D. Mitigation

View answer

Correct Answer: ABC

Question #36

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: B

Question #37

You are the project manager for GHY Project and are working to create a risk response for a negative risk. You and the project team have identified the risk that the project may not complete on time, as required by the management, due to the creation of the user guide for the software you're creating. You have elected to hire an external writer in order to satisfy the requirements and to alleviate the risk event. What type of risk response have you elected to use in this instance?

A. Avoidance

B. Exploiting

C. Transference

D. Sharing

View answer

Correct Answer: B

Question #38

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: B

Question #39

Harry works as a project manager for the NHQ Project. He is performing quantitative risk analysis for his project. One of the project risks has a 40 percent probability of happening, and it will cost the project $65,000 if the risk happens. What is the expected monetary value of this risk event?

A. Negative $26,000

B. Negative $67,000

C. Zero - the risk event has not yet occurred

D. $27,000

View answer

Correct Answer: C

Question #40

Jane is the project manager of the GBB project for her company. In the current project a vendor has offered the project a ten percent discount based if they will order 100 units for the project. It is possible that the GBB Project may need the 100 units, but the cost of the units is not a top priority for the project. Jane documents the offer and tells the vendor that they will keep the offer in mind and continue with the project as planned. What risk response has been given in this project?

A. Acceptance

B. Enhance

C. Exploiting

D. Sharing

View answer

Correct Answer: C

Question #41

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: C

Question #42

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 #43

Nancy is the project manager of a project with 78 stakeholders. This is a high-profile project and she needs to express to her project team and to the management the importance of communication in this project. She would like to show the number of stakeholder communication channels in the project. Based on this information how many communication channels exist within this project?

A. 156

B. 3,003

C. 78

D. 6,084

View answer

Correct Answer: B

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: C

Question #45

Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project. Which of the following answers best describes what Stephen should do with these risk events?

A. The low probability and low impact risks should be added to a watchlist for future monitoring

B. Because they are low probability and low impact, the risks can be dismissed

C. The low probability and low impact risks should be added to the risk register

D. Because they are low probability and low impact, Stephen should accept the risks

View answer

Correct Answer: A

Question #46

Kelly is the project manager of the BHH project for her organization. She is completing the risk identification process for this portion of her project. Which one of the following is the only thing that the risk identification process will create for Kelly?

A. Risk register

B. Risk register updates

C. Change requests

D. Project document updates

View answer

Correct Answer: A

Question #47

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 #48

You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events. Which one of the following is NOT a document that will help you identify and communicate risks within the project?

A. Risk register

B. Activity cost estimates

C. Stakeholder register

D. Activity duration estimates

View answer

Correct Answer: C

Question #49

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. A teaming agreement is an example of what risk response?

A. Transference

B. Acceptance

C. Mitigation

D. Sharing

View answer

Correct Answer: C

Question #50

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: B

Question #51

You are the project manager for a construction project. The project includes a work that involves very high financial risks. You decide to insure processes so that any ill happening can be compensated. Which type of strategies have you used to deal with the risks involved with that particular work?

A. Mitigate

B. Avoid

C. Accept

D. Transfer

View answer

Correct Answer: D

Question #52

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 #53

Management has asked you to perform a risk audit and report back on the results. Bonny, a project team member asks you what a risk audit is. What do you tell Bonny?

A. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are

B. A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their rootcauses, as well as the effectiveness of the risk management process

C. A risk audit is a review of all the risk probability and impact for the risks, which are still present in the projectbut which have not yet occurred

D. A risk audit is an audit of all the risks that have occurred in the project and what their true impact on costand time has been

View answer

Correct Answer: B

Question #54

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: A

Question #55

Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project. Which of the following answers best describes what Stephen should do with these risk events?

A. The low probability and low impact risks should be added to a watchlist for future monitoring

B. Because they are low probability and low impact, the risks can be dismissed

C. The low probability and low impact risks should be added to the risk register

D. Because they are low probability and low impact, Stephen should accept the risks

View answer

Correct Answer: C

Question #56

You are the project manager of the GGK project for your company. The GGK project has a budget of $1,265,100 and is currently 40 percent complete. In this project, you elected to add labor to the project to increase the likelihood of completing the project early as the project was only scheduled to be 35 percent complete at this time. This positive risk response, while keeping the project ahead of schedule, has added significant costs to the project. You have already spent $575,000 to reach this point in the

A. The CPI is -$68,960 and the SPI is $63,255

B. The CPI is

C. The CPI is

D. The CPI is 1

View answer

Correct Answer: A

Question #57

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: B

Question #58

Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

A. Increased understanding or quantification of the system

B. Estimating the average outcome

C. Model development

D. Decision making or the development of recommendations for decision makers

View answer

Correct Answer: C

Question #59

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 ActualTests.com 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 #60

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 #61

Your project has several risks that may cause serious financial impact should they happen. You have studied the risk events and made some potential risk responses for the risk events but management wants you to do more. They'd like for you to create some type of a chart that identified the risk probability and impact with a financial amount for each risk event. What is the likely outcome of creating this type of chart?

A. Risk response

B. Quantitative analysis

C. Contingency reserve

D. Risk response plan

View answer

Correct Answer: C

Question #62

Diana is the project manager of the QPS project for her company. In this project Diana and the project team have identified a pure risk. Diana and the project team decided, along with the key stakeholders, to remove the pure risk from the project by changing the project plan altogether. What is a pure risk?

A. It is a risk event that is generated due to errors or omission in the project work

B. It is a risk event that is created by a risk response

C. It is a risk event that only has a negative side, such as loss of life or limb

D. It is a risk event that cannot be avoided because of the order of the work

View answer

Correct Answer: C

Question #63

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: A

Question #64

Your project spans the entire organization. You would like to assess the risk of the project but are worried that some of the managers involved in the project could affect the outcome of any risk identification meeting. Your worry is based on the fact that some employees would not want to publicly identify risk events that could make their supervisors look bad. You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?

A. Delphi technique

B. Isolated pilot groupsC

D. Root cause analysis

View answer

Correct Answer: C

Question #65

You are the project manager of the NHJ project for your company. This project has a budget at completion of $1,650,000 and you are 60 percent complete. According to the project plan, however, the project should be 65 percent complete. In this project you have spent $995,000 to reach this point of completion. There is a risk that this project may be late so you have taken some measures to recover the project schedule. Management would like to know, based on current performance, what the estimate at completio

A. $1,650,000

B. $1,666,667

C. $663,333

D. -$8,333

View answer

Correct Answer: B

Question #66

A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?

A. Exploit

B. Mitigation

C. Transference

D. Avoidance

View answer

Correct Answer: C

Question #67

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 #68

You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?

A. All risks must have a valid, documented risk response

B. These risks can be accepted

C. These risks can be added to a low priority risk watch list

D. These risks can be dismissed

View answer

Correct Answer: C

Question #69

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 #70

You are the project manager of a large project that will last four years. In this project, you would like to model the risk based on its distribution, impact, and other factors. There are three modeling techniques that a project manager can use to include both event-oriented and project-oriented analysis. Which modeling technique does NOT provide event-oriented and project-oriented analysis for identified risks?

A. Sensitivity analysis

B. Jo-Hari Window

C. Expected monetary value

D. Modeling and simulation

View answer

Correct Answer: B

Question #71

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 #72

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 fast and 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 the foundation for quantitative analysis

View answer

Correct Answer: A

Question #73

You work as a project manager for BlueWell Inc. You would like to utilize sensitivity analysis in your project, but the management does not understand how this will be displayed. What type of chart is usually used with sensitivity analysis to show the relative affect of risks on the project?

A. Ishikawa chart

B. Force field analysis chart

C. GERT Chart

D. Tornado diagram

View answer

Correct Answer: C

Question #74

Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project stakeholders have completed a round of qualitative risk analysis. He needs to update the risk register with his findings so that he can communicate the risk results to the project stakeholders – including management. Mark will need to update all of the following information except for which one?

A. Prioritized list of quantified risks

B. Watchlist of low-priority risks

C. Trends in qualitative risk analysis

D. Risks grouped by categories

View answer

Correct Answer: B

Question #75

Your project spans the entire organization. You would like to assess the risk of the project but are worried that some of the managers involved in the project could affect the outcome of any risk identification meeting. Your worry is based on the fact that some employees would not want to publicly identify risk events that could make their supervisors look bad. You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?

A. Delphi technique

B. Isolated pilot groups

C. SWOT analysis

D. Root cause analysis

View answer

Correct Answer: B

Question #76

During which of the following processes, probability and impact matrix is prepared?

A. Perform Qualitative Risk Analysis

B. Monitoring and Control Risks

C. Plan Risk Responses

D. Perform Quantitative Risk Analysis

View answer

Correct Answer: A

Question #77

Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

A. It determines which risk events have the most potential impact on the project

B. It uses round of anonymous surveys to predict which events are most likely to happen

C. It uses rounds of anonymous surveys to predict probability and impact

D. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives

View answer

Correct Answer: B

Question #78

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 #79

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: A

Question #80

Which of the following diagrams displays sensitivity analysis data?

A. Fishbone

B. Influence

C. Tornado

D. Cause and effect

View answer

Correct Answer: C

Question #81

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: B

Question #82

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 ActualTests.com 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: A

Question #83

Gary has identified a project risk that could injure project team members. He does not want to accept any risk where someone could become injured on this project so he hires a professional vendor to complete this portion of the project work. This workaround to the risk event is known as what type of risk response?

A. Acceptance

B. Transference

C. Mitigation

D. Avoidance

View answer

Correct Answer: B

Question #84

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: B

Question #85

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

View answer

Correct Answer: B

Question #86

Which of the following diagrams displays sensitivity analysis data?

A. Fishbone

B. Influence

C. Tornado

D. Cause and effect

View answer

Correct Answer: B

Question #87

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 #88

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: B

Question #89

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 #90

Tom works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks, and provides a quantitative assessment of the likely cost to complete the scheduled activities?

A. Activity cost estimates

B. Cost management plan

C. Activity duration estimates

D. Risk management plan

View answer

Correct Answer: A

Question #91

You are the project manager for the NHH project. You are working with your project team to examine the project from four different defined perspectives to increase the breadth of identified risks by including internally generated risks. What risk identification approach are you using in this example?

A. Root cause analysis

B. SWOT analysis

C. Influence diagramming techniques

D. Assumptions analysis

View answer

Correct Answer: B

DON'T WANT TO MISS A THING?

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE!
Get Now

PMI-RMP Practice Tests & Real Exam Dumps 2024 Updated , PMI Risk Management Professional | SPOTO

View The Updated RMP Exam Questions

View The Updated PMI Exam Questions

View Answers after Submission

DON'T WANT TO MISS A THING?

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE! Get Now

PMI-RMP Practice Tests & Real Exam Dumps 2024 Updated , PMI Risk Management Professional | SPOTO

View The Updated RMP Exam Questions

View The Updated PMI Exam Questions

View Answers after Submission

100% Pass Cisco, PMP, CISA, CISM, AWS Practice test on SALE!
Get Now