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Premium PMI-RMP Practice Questions and Exam Preparation Resources, PMI Risk Management Professional | SPOTO

Elevate your PMI Risk Management Professional (PMI-RMP®) exam readiness with SPOTO's premium practice questions and exam preparation resources. This esteemed certification validates your specialized expertise in risk planning, identification, evaluation, response, and monitoring. Our mock exams, exam questions, and exam simulators provide an authentic experience, replicating the real PMI-RMP exam environment. The online exam questions are meticulously crafted to cover all exam objectives, ensuring you encounter real exam questions that accurately reflect the actual content. Bolster your confidence with our exam practice materials, including exam sample questions, mock exams with detailed exam answers, and comprehensive exam preparation guides. With SPOTO's premium study resources, you'll gain invaluable insights into exam topics, question formats, and proven test-taking strategies. Invest in our PMI-RMP exam preparation today and unlock your path to risk management mastery.
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Question #1
Beth is the project manager of the BFG Project for her company. In this project Beth has decided to create a contingency response based on the performance of the project schedule. If the project schedule variance is greater than $10,000 the contingency plan will be implemented. What is the formula for the schedule variance?
A. SV=EV/PV
B. SV=PV-EV
C. SV=EV/AC
D. SV=EV-PV
View answer
Correct Answer: B

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Question #2
Your organization has named you the project manager of the JKN Project. This project has a BAC of $1,500,000 and it is expected to last 18 months. Management has agreed that if the schedule baseline has a variance of more than five percent then you will need to crash the project. What happens when the project manager crashes a project?
A. Project risks will increase
B. The project will take longer to complete, but risks will diminish
C. Project costs will increase
D. The amount of hours a resource can be used will diminish
View answer
Correct Answer: C
Question #3
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: C
Question #4
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 #5
You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?
A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overallproject objectives
B. Quantitative risk analysis is the planning and quantification of risk responses based on probability andimpact of each risk event
C. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact onthe project objectives
D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing andcombining their probability of occurrence and impact
View answer
Correct Answer: A
Question #6
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 #7
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: C
Question #8
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 #9
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 #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: B
Question #11
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 #12
You are the project manager of the NKJ Project for your company. The project's success or failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this
A. Mitigation-ready project management
B. Risk utility function
C. Risk avoidance
D. Risk-reward mentality
View answer
Correct Answer: A
Question #13
You are the project manager of the NHQ Project for your company. You are discussing some of the project issues that need to be resolved in the project. You and the project stakeholders come to an agreement about the risk issues and how they will be resolved. Where should you document this information for issue resolution?
A. Project management plan for execution
B. Lessons learned documentation
C. Issue log
D. Risk response plan
View answer
Correct Answer: D
Question #14
During which of the following processes, probability and impact matrix is prepared?
A. Perform Qualitative Risk Analysis
B. Monitoring and Control Risks
C. Plan Risk Responses
D. Perform Quantitative Risk Analysis
View answer
Correct Answer: B
Question #15
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: ACD
Question #16
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: C
Question #17
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: C
Question #18
You are the project manager for your company and a new change request has been approved for your project. This change request, however, has introduced several new risks to the project. You have communicated these risk events and the project stakeholders understand the possible effects these risks could have on your project. You elect to create a mitigation response for the identified risk events. Where will you record the mitigation response?
A. Risk register
B. Risk log
C. Risk management plan
D. Project management plan
View answer
Correct Answer: A
Question #19
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 #20
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 #21
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: C
Question #22
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: B
Question #23
You are the project manager of the NHQ Project for your company. You are discussing some of the project issues that need to be resolved in the project. You and the project stakeholders come to an agreement about the risk issues and how they will be resolved. Where should you document this information for issue resolution?
A. Project management plan for execution
B. Lessons learned documentation
C. Issue log
D. Risk response plan
View answer
Correct Answer: A
Question #24
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: A
Question #25
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 #26
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: C
Question #27
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: D
Question #28
The risk transference is referred to the transfer of risks to a third party, usually for a fee, it creates a contractual-relationship for the third party to manage the risk on behalf of the performing organization. Which one of the following is NOT an example of the transference risk response?
A. Use of insurance
B. Warranties
C. Life cycle costing
D. Performance bonds
View answer
Correct Answer: C
Question #29
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. You will need all of the following as inputs to the qualitative risk analysis process except for which one?
A. Stakeholder register
B. Project scope statement
C. Risk management plan
D. Risk register
View answer
Correct Answer: C
Question #30
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.
A. Enhancing
B. Opportunistic
C. Positive
D. Exploiting
View answer
Correct Answer: D
Question #31
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 #32
You are the project manager of the NGQQ Project for your company. To help you communicate project status to your stakeholders, you are going to create a stakeholder register. All of the following information should be included in the stakeholder register except for which one?
A. Assessment information of the stakeholders' major requirements, expectations, and potential influence
B. Stakeholder classification of their role in the project
C. Identification information for each stakeholder
D. Stakeholder management strategy
View answer
Correct Answer: D
Question #33
Adrian is the project manager of the NHP Project. In her project there are several work packages that deal with electrical wiring. Rather than to manage the risk internally she has decided to hire a vendor to complete all work packages that deal with the electrical wiring. By removing the risk internally to a licensed electrician Adrian feels more comfortable with project team being safe. What type of risk response has Adrian used in this example?
A. Avoidance
B. Mitigation
C. Acceptance
D. Transference
View answer
Correct Answer: ACD
Question #34
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 #35
Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?
A. The checklist analysis approach is fast but it is impossible to build and exhaustive checklist
B. The checklist analysis approach saves time, but can cost more
C. The checklist analysis approach only uses qualitative analysis
D. The checklist is also known as top down risk assessment
View answer
Correct Answer: B
Question #36
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, schedule management plan, and any relevant organizational process assets
C. You will need the risk register, risk management plan, outputs of qualitative risk analysis, and any relevant organizational process assets
D. Quantitative risk analysis does not happen through the project manager in a functional structure
View answer
Correct Answer: B
Question #37
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 #38
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 #39
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
Question #40
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: A
Question #41
In addition to monitoring and controlling the project risks for their status and information the risk monitoring and controlling process accomplishes four key things for a project. Which one of the following is NOT a determination that is made by the risk monitoring and controlling process?
A. Determines if the project assumptions are still valid
B. Determines if the risk management policies and procedures are being followed
C. Determines if the risk contingency reserves should be modified to be in alignment with the current risk assessment
D. Determines if the project constraints are still valid
View answer
Correct Answer: B
Question #42
You work as a project manager for BlueWell Inc. You have declined a proposed change request because of the risk associated with the proposed change request. Where should the declined change request be documented and stored?
A. Change request log
B. Lessons learned
C. Project archives
D. Project document updates
View answer
Correct Answer: B
Question #43
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: C
Question #44
Lisa is the project manager of the SQL project for her company. She has completed the risk response planning with her project team and is now ready to update the risk register to reflect the risk response. Which of the following statements best describes the level of detail Lisa should include with the risk responses she has created?
A. The level of detail is set by historical information
B. The level of detail should correspond with the priority ranking
C. The level of detail must define exactly the risk response for each identified risk
D. The level of detail is set of project risk governance
View answer
Correct Answer: B
Question #45
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: A
Question #46
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: A
Question #47
You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?
A. IRGC addresses questions such as the understanding of the secondary impacts of a risk
B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks
C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks
D. IRGC is both a concept and a tool
View answer
Correct Answer: B
Question #48
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: D
Question #49
You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure: If Risk D happens in this project, how much will be left in the contingency reserve?
A. $440,000
B. $233,500
C. $258,500
D. $243,500
View answer
Correct Answer: A
Question #50
Gary is the project manager for his organization. He is working with the project stakeholders on the project requirements and how risks may affect their project. One of the stakeholders is confused about what constitutes risks in the project. Which of the following is the most accurate definition of a project risk?
A. It is an uncertain event that can affect the project costs
B. It is an uncertain event or condition within the project execution
C. It is an uncertain event that can affect at least one project objective
D. It is an unknown event that can affect the project scope
View answer
Correct Answer: B
Question #51
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: C
Question #52
Yolanda is the project manager of a high-profile project for her organization. This project has 124 stakeholders from across the organization and many of the stakeholders have high demands and expectations for the project. Yolanda will need several pieces of project information as she begins to communicate and manage the stakeholder expectations. Which of the following inputs of the manage stakeholder expectations process directly addresses the risks that could affect the project and which must be communica
A. Change log
B. Low-level risks watchlist
C. Issue log
D. Stakeholder register
View answer
Correct Answer: C
Question #53
Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?
A. Benefits
B. Opportunities
C. Ancillary constituent components
D. Contingency risks
View answer
Correct Answer: B
Question #54
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: A
Question #55
Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?
A. Wendy can determine a true project completion date
B. Wendy can track the cost and schedule variances
C. Wendy can review quality performance on baselines
D. Wendy can forecast deviation of the project cost and schedule for completion targets
View answer
Correct Answer: C
Question #56
A project manager must have certain interpersonal skills to communicate with stakeholders and manage their expectations of the project work. Which of the following interpersonal skills has been identified as one of the biggest reasons for project success or failure?
A. Motivation
B. Communication
C. Influencing
D. Political and cultural awareness
View answer
Correct Answer: C
Question #57
Which of the following documents is described in the statement below? "It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
A. Risk management plan
B. Project charter
C. Risk register
D. Quality management plan
View answer
Correct Answer: A
Question #58
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: C
Question #59
You are the project manager of QSL project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows how various elements of a system interrelate and the mechanism of causation within the system. What diagramming technique are you using as a part of the risk identification process?
A. Predecessor and successor diagramming
B. System or process flowcharts
C. Cause and effect diagrams
D. Influence diagrams
View answer
Correct Answer: D
Question #60
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: A
Question #61
A project manager must have certain interpersonal skills to communicate with stakeholders and manage their expectations of the project work. Which of the following interpersonal skills has been identified as one of the biggest reasons for project success or failure?
A. Motivation
B. Communication
C. Influencing
D. Political and cultural awareness
View answer
Correct Answer: B
Question #62
The Identify Risk process determines the risks that affect the project and document their characteristics. Why should the project team members be involved in the Identify Risk process?
A. They are the individuals that will need a sense of ownership and responsibility for the risk events
B. They are the individuals that will have the best responses for identified risks events within the project
C. They are the individuals that are most affected by the risk events
D. They are the individuals that will most likely cause and respond to the risk events
View answer
Correct Answer: B
Question #63
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 #64
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 #65
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 #66
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: C
Question #67
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. You will need all of the following as inputs to the qualitative risk analysis process except for which one?
A. Stakeholder register
B. Project scope statement
C. Risk management plan
D. Risk register
View answer
Correct Answer: A
Question #68
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: A
Question #69
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 #70
There are five outputs of the risk monitoring and controlling process. Which one of the following is NOT an output of the process?
A. Organizational process assetsupdates
B. Risk register updates
C. Vendor contracts
D. Change requests
View answer
Correct Answer: C
Question #71
Holly is the project manager of the GHH Project. During risk identification and the subsequent risk analysis process she has identified a risk with a high probability and high impact for her project. She and the stakeholder agree that the project management plan should be changed to eliminate the risk threat entirely. What risk response has Holly used in this instance?
A. This is the risk mitigation response
B. This is the avoidance risk response
C. This is the transference risk response
D. This is a scope change and not a risk response
View answer
Correct Answer: B

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