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PMI-RMP PMI Risk Management Professional (PMI-RMP) Exam Questions and Answers

Questions 4

A project manager has been assigned to a project that is just starting. The organization has a very low risk appetite towards this project due to constraints on budget and schedule. The project stakeholders are very engaged on the project and want to ensure that there is clear visibility on the project risks and progress.

How should the project manager handle stakeholder expectations?

Options:

A.

Add buffers to the schedule to accommodate risk.

B.

Ensure the risk register includes all identified risks.

C.

Discuss the risk response strategies with the stakeholders.

D.

Develop a communication plan to share updates on risks.

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Questions 5

A two-year project with a budget of US$2 million has completed about 60% of the work at the end of the first year. The actual cost incurred to complete the remaining 40% of work is about USS1.5 million. As a part of performing a specialized risk analysis, the calculated schedule performance index (SPI) is 1.2 and cost performance index (CPI) is 0.53.

How should the risk manager interpret such a low CPI value?

Options:

A.

The cost control processes is ineffective.

B.

The cost baseline is inaccurate.

C.

The actual reported costs are inaccurate.

D.

The cost related risks are effectively managed.

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Questions 6

As per the risk analysis process carried out for a project, two risks are registered. The probability risk A will occur is 40% and its monetary impact to the project is US$100,000. The probability risk B will occur is 60% and its monetary impact to the project is US$20,000.

What is the total contingency budget that should be created?

Options:

A.

US$68,000

B.

US$52,000

C.

US$120,000

D.

US$80,000

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Questions 7

A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.

What should the risk manager of the related project have done to prevent this situation from happening?

Options:

A.

Reformed the risk monitoring and closing process properly.

B.

Created the project work plan and budget more accurately.

C.

Educated the project team on budget change requests.

D.

Communicated better with the organization's CEO.

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Questions 8

After completing the sprint on an agile project, a team updates the risk burndown chart and notices that risk exposure has increased to levels that could negatively affect project completion. What should the risk manager do to return the project's risk exposure to an acceptable level?

Options:

A.

Update the definition of done (DoD) to improve risk management.

B.

Review the acceptance criteria for upcoming stories.

C.

Prioritize risk mitigation stories for the next sprint.

D.

Check stories in the product backlog to identify risks.

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Questions 9

A certain risk is identified for a major project, and the risk response is planned. However, the analysis reveals a high probability for a secondary risk which will be tolerated based on the organization's risk thresholds. The secondary risk is subsequently registered. During project execution, the primary risk occurs, the planned action is taken, and the secondary risk emerges

What two actions should the risk owner take? (Choose two.)

Options:

A.

Implement the secondary risk response and update the project documents.

B.

Conduct meeting with all stakeholder to agree on post impact solutions.

C.

Set the corresponding trigger conditions to the secondary risk.

D.

Engage the project manager to authorize the secondary risk's response.

E.

Update and communicate assessments of the secondary risk's impact.

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Questions 10

Some project risks are applicable for the project's lifecycle while others risks are only applicable to specific project activities. When should project risks be closed?

Options:

A.

When the forecast activity date has been met or exceeded

B.

When the stakeholders agree a risk is no longer applicable

C.

When the risk has been realized and can no longer happen again

D.

When iterative data analysis determines the risk is not applicable

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Questions 11

A risk manager notices that a risk owner is facing challenges implementing their response strategy and the costs are significantly exceeding expectations. What is the first thing the risk manager should do?

Options:

A.

Highlight this situation to the project manager

B.

Conduct a cost-benefit analysis

C.

Change the risk response strategy

D.

Analyze the situation and meet with the risk owner

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Questions 12

A risk manager has a well-structured risk management process in place for a complex project with a tight schedule. Despite implementing preventive actions, one of the risks identified in the early stages of the project has still occurred and is now an issue.

What should the risk manager do next?

Options:

A.

Meet with the project team to brainstorm potential solutions to the problem.

B.

Implement the risk response plan to remedy the problem as soon as possible.

C.

Initiate discussions with the project manager to decide how to manage the problem.

D.

Escalate the problem to the project sponsor to agree on the best course of action. 

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Questions 13

During a project meeting, the project sponsor asks to close a project risk. The team does not recommend closing the risk because it is expected to be present in the next phase of the project work.

How should the risk manager address this concern?

Options:

A.

Compare the actual data with the historical data.

B.

Compare the actual data with the subject matter expert (SME) criteria.

C.

Compare the actual data with the risk baseline.

D.

Compare the actual data with the project sponsor's expectation.

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Questions 14

A risk manager has been assigned to a project constructing a chemical laboratory. Unfamiliar with chemical laboratories, the risk manager is unsure of where to start objectively identifying risks.

What should the risk manager do?

Options:

A.

Import a risk register from other industry chemical laboratories.

B.

Define chemical laboratory safety risk thresholds.

C.

Review published operational experience reports.

D.

Draft threat and opportunity risks that come to mind.

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Questions 15

A risk manager and relevant stakeholders have completed a risk response plan for a project. They have identified and planned responses to the known risks; however, a risk owner has identified and reported some residual risks not previously addressed.

What should the risk manager do first?

Options:

A.

Develop a residual risk management plan to manage the residual risks.

B.

Analyze, document, and communicate the residual risks to stakeholders.

C.

Record the residual risks in the watch list for future reference.

D.

Implement the contingency plan when the residual risks occur.

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Questions 16

When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

Options:

A.

Request a contingency reserve from management

B.

Arrange a team meeting, review the project's scope, and discuss dependency mapping

C.

Ensure participants review relevant documents before attending the meeting

D.

Ensure that all the relevant stakeholders participate

E.

Update the risk register during the team meeting.

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Questions 17

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options.

What should the risk manager do?

Options:

A.

Perform a sensitivity analysis.

B.

Perform a qualitative risk analysis.

C.

Perform a constraint analysis.

D.

Perform a root-cause analysis. 

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Questions 18

The project manager performed' a variance analysis on the project during the execution phase. The variances were shown as increasing

What does this result imply?

Options:

A.

The uncertainty and risk are increasing.

B.

The project schedule is lagging behind.

C.

There is no potential for future deviation.

D.

The project is over budget.

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Questions 19

A project is at the final development stage. The test lead informs the risk manager that a key feature may not be testable due to changes in the environment

What should the risk manager do?

Options:

A.

Confirm the risk triggers are still valid.

B.

Ask the architect to develop acceptance criteria.

C.

Review the feature with the project team.

D.

Escalate the issue to the project board.

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Questions 20

A highly complex project is about to start Considering that many changes and new information will arise as the work moves forward, key stakeholders are anxious about not addressing risks on time

What should the risk manager do in this situation?

Options:

A.

Establish a formal and upfront risk identification process.

B.

Use a detailed and quantitative risk assessment process.

C.

Create an effective and clear risk communication process.

D.

Adopt a dynamic and frequent risk management process.

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Questions 21

A project is in the execution phase and involves large volumes of supplies. The project is the last phase of a 10-year initiative. The project sponsor asks the project manager to provide the performance report for the whole initiative.

Which analysis should the risk manager do to provide the project manager with the performance report?

Options:

A.

Time Series Analysis

B.

Regression Analysis

C.

Variance Analysis

D.

Monte Carlo Analysis 

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Questions 22

A project team has completed the risk response plan for a newly identified major project risk. Some team members argue the plan does not totally eliminate the risk, considering the effort required to implement it, and feel the planned response should be thrown out altogether.

What should the risk manager do in this situation?

Options:

A.

Accept the response because there are no secondary risks were identified.

B.

The response plan should be discontinued and the risk should be accepted and dealt with if it occurs.

C.

Accept the residual risk as it is compatible with the organization's risk appetite.

D.

All identified risks must be addressed because they might significantly impact the project if they occur. 

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Questions 23

An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities, and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats.

What should the risk manager do next?

Options:

A.

Add only the threats to the risk register

B.

Utilize different tools to identify the risks

C.

Plan risk responses to the threats

D.

Update the risk register with the identified risks

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Questions 24

The project sponsor asks the project manager about the accuracy of the project data. The project manager realizes that some risks have not been updated recently.

What should the project manager do regarding those risks?

Options:

A.

Review the assumptions analysts

B.

Conduct a checklist analysis on each risk

C.

Create a risk response plan for those risks

D.

Review the risk register to check for the new risks

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Questions 25

A project manager has determined that an activity is too complex to complete internally so they hire a licensed contractor to complete the work. What is the project manager performing in this situation?

Options:

A.

Risk mitigation

B.

Risk transfer

C.

Risk acceptance

D.

Risk avoidance

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Questions 26

A risk manager monitors risks on a medium-sized project by collecting inputs and data from individual project team members. What output is produced by the risk manager after analyzing the information they receive?

Options:

A.

Updated probability and impact matrix

B.

Updated risk register

C.

Updated mitigation plans

D.

Updated project schedule 

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Questions 27

In the middle of a construction project, the primary construction materials provider canceled the contract and moved to a competitor offering a higher price. The risk manager considers

this a low-impact issue because many construction materials providers can fulfill the project demands. However, after informing the stakeholders of this issue, the major investor is about

to drop their intention to continue executing the project. The risk manager does not understand their decision.

What should the risk manager do next to understand the major stakeholder's decision regarding the project?

Options:

A.

Perform a risk impact analysis.

B.

Perform a risk reserve analysis.

C.

Perform a procurement analysis.

D.

Perform a stakeholder impact and influence analysis.

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Questions 28

A risk manager is preparing risk reports to be included in the monthly status report for project executives. How should the risk manager present the information?

Options:

A.

Earned value management (EVM) variance metrics

B.

A risk burndown chart showing remaining risks

C.

The format established in the risk management plan

D.

An itemized list of remaining risks and their scores 

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Questions 29

A project team in a multinational organization is working on a risk management plan for a multimillion-dollar project. This project involves three global regions with a wide range of critical stakeholders with varying degrees of risk appetite.

What should the risk manager advise the project team to do?

Options:

A.

Align the project risk thresholds with the risk appetite of a critical region.

B.

Align the project risk thresholds with the organizational risk appetite.

C.

Concentrate on the risk appetites of the influential stakeholders.

D.

Concentrate on the risk appetites of the vulnerable stakeholders. 

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Questions 30

A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the

client's vendor, which apparently has been causing all of the issues.

What should the risk manager do first?

Options:

A.

Enhance risk identification.

B.

Review the contingency reserves.

C.

Create a risk response plan.

D.

Review the risk registry.

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Questions 31

When processing freight invoices for a project, the project manager notices the shipping costs exceeded the budget due to increased fuel costs. The risk manager included this risk in the project's contingency allowance. When reviewing the project budget execution reports, the project manager notices unused budget remaining in other closed tasks of the project that could cover the additional shipping costs.

What should the project manager do?

Options:

A.

Process the freight invoices at higher shipping costs against the project's contingency allowance.

B.

Request a formal change order from the customer to increase the project's total budget.

C.

Process the freight invoices for the budgeted amount and hope the shipping company will forgive the difference.

D.

Ask the project sponsor to cover the additional shipping costs on the company's reserves account.

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Questions 32

A stakeholder is asking a project team to hire an external vendor with more expertise and capacity to accelerate a delivery plan. The team has some concerns about this request. What should the risk manager do first?

Options:

A.

Conduct a strengths weakness, opportunities, and threats (SWOT) analysis.

B.

Create a contingency plan

C.

Start a vendor assessment

D.

Submit a change request

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Questions 33

A project manager for a predictive project just received a scope change request where additional development is required. What should the risk manager do to support the project manager with this scope change request?

Options:

A.

Evaluate any new risks that are introduced due to the change in scope.

B.

Update the risk management plan to reflect the scope change.

C.

Reassess the identified risks that impact the project scope.

D.

Update the risk register to identify, analyze, and plan a response for any new risk.

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Questions 34

A project lihat was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up. the project manager is developing the risk planning for the project.

What three artifacts should the project manager consult or review during this process? (Choose three.)

Options:

A.

Project contracts

B.

Lessons learned registers from analogous projects

C.

Risk register

D.

Risk management plan

E.

Code of regulations

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Questions 35

During a virtual workshop presenting a product to potential clients, a facilitator emails the product brochure and asks attendees to check their spam folder if the email does not appear in their inbox. What kind of threat strategy is the facilitator applying?

Options:

A.

Accept actively

B.

Mitigate

C.

Accept passively

D.

Share

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Questions 36

Which statement describes the risk portrayed on the risk matrix heat map below?

Options:

A.

The risk has a probability of 60% of occurrence and a medium impact rating.

B.

The risk has a probability of 40% of occurrence and a high impact rating.

C.

The risk has a high impact and probability of occurring.

D.

The risk has a low probability and high impact rating.

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Questions 37

After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a 2-week delay in the project.

How could the risk manager have avoided the board's response?

Options:

A.

Engaging the key stakeholders during the prioritization process

B.

Prioritizing the risks based on the project sponsor's risk appetite

C.

Engaging with the project sponsor before presenting to the board

D.

Working with an established industry standard prioritization method

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Questions 38

A risk manager is facilitating a risk identification workshop on a new product with technical experts. There is no consensus among the technical experts on most of the identified risks and their characteristics. The risk manager decides to resolve this difference using another technique.

Which technique should the risk manager use in this situation?

Options:

A.

Brainstorming

B.

Delphi method

C.

Focus group

D.

Checklist analysis

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Questions 39

A company has been awarded a large government contract to develop a new transportation system. There is uncertainty surrounding the project's timeline. The project team is struggling to finalize the project's budget due to unclear estimates from vendors. An updated vendor price list detailing the costs of available technologies is an essential component in determining the project's final cost. The project team will not be able to finalize the project's timeline until the budget is finalized.

What should the risk manager do?

Options:

A.

Request an extension to mitigate schedule constraints.

B.

Register the risks as vendor issues and avoid further action.

C.

Log the risk and the response strategies in the risk register.

D.

Catalog the risks as assumptions and avoid further action.

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Questions 40

As part of standard procedure to monitor and control a project, a risk manager should constantly update the risk register. The risk register updates should include information on risk reassessment, risk audits, and periodic risk reviews.

What additional information should the risk manager prioritize in the risk register updates?

Options:

A.

Actual outcomes and performance of risk management strategies

B.

Actual outcomes of the project's risks and risk responses

C.

Actual costs and schedule delays of risk events

D.

Actual cost impact of risk events

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Questions 41

During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?

Options:

A.

Contact the risk managers of the other projects and inform them

B.

Include an escalation process in the risk management plan

C.

Take note of the extensive impact of these risks in the risk register

D.

Address the unique characteristics of these risks on a case-by-case basis

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Questions 42

While performing risk identification exercises, the risk manager often encounters biases from the project team. How can the risk manager accurately identify what will trigger a risk?

Options:

A.

Remind the project team to keep an open mind

B.

Review the results with the project manager afterward

C.

Review published operational experience reports

D.

Use the mean answers provided by the project team 

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Questions 43

Multiple new risks have come up on a project that were not included on the risk register. The project manager met with the team to explain that risk management is critical for the success of the project, and risk identification is key.

What should the project manager do next?

Options:

A.

Review assumptions and constraints around risks.

B.

Develop the risk response plans for identified risks.

C.

Determine the likelihood and impact of the risks.

D.

Apply an iterative approach to risk identification.

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Questions 44

A risk manager has identified multiple risks in an innovation project and needs to prioritize the use of resources to respond to the risks. Which analysis will help the risk manager in this situation?

Options:

A.

Sensitivity analysis

B.

Qualitative analysis

C.

Statistical analysis

D.

Impact analysis 

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Questions 45

A project team's manager is responsible for delivering a specific initiative for the organization. They are preparing for a monthly meeting where the manager will present on the current state of this initiative. The agile project lead sends the manager the following email with the current initiative status (Refer to the email exhibit).

PMI-RMP Question 45

PMI-RMP Question 45

PMI-RMP Question 45

How many total story points is the entire initiative?

Options:

A.

72

B.

60

C.

40

D.

32

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Questions 46

An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?

Options:

A.

Ensure sufficient resources are available

B.

Revise the risk management plan

C.

Update the risk register

D.

Meet with the project's stakeholders

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Questions 47

A risk management professional is currently facilitating the risk planning process with the project team. To increase the breadth of considered risks, the team wants to include high-level and strategic project risks.

What should the risk management professional do next?

Options:

A.

Perform a sensitivity analysis to the higher-level aggregate activities

B.

Develop a risk breakdown structure (RBS) identifying the potential risk categories

C.

Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis

D.

Perform a base line Monte Carlo simul-ation to address overall threats to project objectives

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Questions 48

After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

Options:

A.

Probability of a response triggering a secondary risk

B.

How the response will affect the quality of the components

C.

If the risk response is tied to an activity on the critical path

D.

Verify due dates for the actions have been identified

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Questions 49

A risk manager administered a pre-workshop risk survey in preparation for the upcoming workshop. The workshop invitees participated in the survey and submitted many risks encompassing all project phases and risk areas. The risk manager sorts risks by similarities and categories for the workshop.

What should the risk manager do next to visually organize the risks?

Options:

A.

Develop an affinity diagram

B.

Perform the analytical hierarchy process

C.

Perform a SWOT analysis

D.

Assign probability and impact

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Questions 50

During the monthly executive review meeting, the project sponsor would like to understand how the project team has planned to manage risks that were identified in the last meeting. What should the project manager do?

Options:

A.

Utilize a Monte Carlo assessment to provide risk related impacts.

B.

React to the secondary and residual risks only if they occur.

C.

Include secondary and residual risks as part of the response.

D.

Transfer secondary and residual risks to the project sponsor.

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Questions 51

A project's design has been completed and approved on time. The construction subcontractor should be mobilizing to start construction but does not have the necessary materials in place, causing a delaying in the project. The risk register only contains risks for the design phase of the project.

What should the project manager have done differently?

Options:

A.

Executed the Monte Carlo sensitivity analysis prior to mobilization

B.

Added generic construction risks to the risk register before construction began

C.

Reviewed the assumptions/exclusions register in the project charter

D.

Performed risk identification exercises for the full lifecycle of the project

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Questions 52

There is confusion among risk action owners on a project about when and under which conditions they should initiate risk responses. Project team members often need to consult with the risk manager to get this conflict resolved.

What should the risk manager do to resolve this recurring situation?

Options:

A.

Review the stakeholders' risk appetite.

B.

Revisit the risk thresholds and triggers.

C.

Update the risk response strategies.

D.

Provide coaching to the risk action owners. 

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Questions 53

The project manager has completed four projects all with similar scope. The project manager has recently been assigned to start on a new project and believes some risks may occur again on this project.

What should the project manager do?

Options:

A.

Implement the risk response strategies into the risk plan.

B.

Inform the sponsor that these risks should be added according to experience.

C.

Add the risks to the risk register and determine a contingency.

D.

Discuss and evaluate the identified risks with the project team.

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Questions 54

Some issues and unexpected results were found after completing the first phase of a project. The project team is planning the next phase and team members want to avoid the previous issues.

What should the risk manager do to avoid the previous issues?

Options:

A.

Use the information for a risk workshop.

B.

Improve monitoring and controlling of activities.

C.

Document the issues in the lessons learned.

D.

Create an issue log to share with the team.

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Questions 55

A project team working on a large software deployment project for a few months has been able to prevent a technical risk from occurring. However, an incident took place and triggered the technical issue.

What should the risk manager do?

Options:

A.

Execute the risk response plan defined for the risk.

B.

Postpone the software launch to sort out the technical issue.

C.

Assess the impacts and define the response actions with the subject matter experts (SMEs).

D.

Meet with the project manager to revisit the project schedule.

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Questions 56

A project team identifies that there is a probability of missing a key milestone in a project. The team wants to move forward with the risk response planning.

What should the risk manager complete first?

Options:

A.

The risk categorization

B.

The risk simul-ation

C.

The full risk description

D.

The risk response plan

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Questions 57

A risk manager has been assigned to replace a risk manager on sick leave. The new risk manager notices that the risk register is missing data that are key to the risk management process.

Which data will the risk manager require first?

Options:

A.

Risk description risk response, and quantitative data

B.

Project plan, risk complexity, and secondary risk

C.

Project plan, risk priority, and tool availability

D.

Risk description, risk probability, and risk impact 

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Questions 58

A core project team is working on unrelated tasks in advance to reduce the risk of delay due to an external team not completing its tasks on time. The core project team has completed all possible unrelated tasks but cannot move forward, because the external team's tasks have yet to be completed.

What should the risk manager do next?

Options:

A.

Start a quantitative analysis to understand the impact.

B.

Crash the schedule to mitigate the risk consequences.

C.

Transfer the risk to the external team.

D.

Ask the risk owners to review the risk response plan.

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Questions 59

The project risk manager for an environmental preservation project has started the process of monitoring and controlling risks, The project manager has asked the project team to document the results of this process.

How should this documentation be utilized in the future?

Options:

A.

To return the remaining amount of the contingency reserve

B.

To ensure information is recorded for lessons learned

C.

To comply with the rules and regulations

D.

To hold those who created the risk accountable

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Questions 60

A project manager has finished the project charter for a project and has now moved into the planning phase. In the first planning meeting, the project manager is trying to determine the risk tolerance and risk attitudes of the project's key stakeholders.

What is the first resource the project manager should reference?

Options:

A.

Benefits management plan

B.

Enterprise environmental factors (EEFs)

C.

Project charter

D.

Requirements management plan

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Questions 61

The project director and project manager have met with the board and determined that the project has depleted the entire contingency reserve and has started eroding the profit margin.

The project manager would like the risk manager to take full advantage of opportunities.

Which response should the risk manager take?

Options:

A.

Mitigate

B.

Accept

C.

Transfer

D.

Exploit

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Questions 62

An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register.

What should the risk manager do next?

Options:

A.

Assess the identified secondary risk.

B.

Implement the risk response plan.

C.

Implement the risk contingency plan.

D.

Communicate the identified residual risk.

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Questions 63

A project team is overseeing the construction of a new office building. The project is complex, involving multiple contractors, regulatory requirements, and a tight schedule. During a team meeting, the risk manager realizes that a formal risk identification exercise has not yet been conducted.

Given the project's complexity, what should the risk manager do?

Options:

A.

Wait until halfway through the project to identify risks, as most issues will be clear by then.

B.

Conduct the exercise with the key team members, excluding external stakeholders.

C.

Facilitate a risk identification exercise with key stakeholders, considering all factors.

D.

Focus only on identifying the most obvious risks to save time and project resources.

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Questions 64

A risk manager faces resistance as they try to implement the project's risk strategy. Some members of the project team believe it is a waste of time and money, What should the risk manager do?

Options:

A.

Continue to implement the risk strategy

B.

Meet with team members to address their concerns.

C.

Reduce the number of risk management activities.

D.

Raise the concerns with the project sponsor,

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Questions 65

In a highly dynamic project environment, the project manager is known to have project risks as a permanent agenda item in their periodic project progress meetings. How will this help improve the project's risk management activities? (Choose 3)

Options:

A.

By helping to monitor variances and trends frequently throughout the project

B.

By helping to determine the overall project risks

C.

By helping the lessons learned from previous risks to be efficiently utilized

D.

By helping to update the project scope statement document

E.

By helping update the risk register and close out expired risks 

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Questions 66

in a complex and critical project, a sponsor asks the risk manager to determine where the project's concentration of risks is greatest by performing a quantitative risk analysis. There are no organizational process assets (OPAs)s about the risk categories.

Which tool could the risk manager use to discover the project risk categories?

Options:

A.

Work breakdown structure (WBS)

B.

Affinity diagram

C.

Monte Carlo simul-ation

D.

Mind mapping

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Questions 67

A project has a significant impact on an organization. Multiple stakeholders expressed concerns regarding the overall project risk during construction of the risk management plan, and they agreed that the risk appetite is low.

What should the project risk manager monitor closely?

Options:

A.

Risk thresholds

B.

Risk response strategies

C.

Risk management reports

D.

Risk breakdown structure (RBS)

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Questions 68

A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asks the risk manager to treat every single risk identified as an extremely high priority.

What should the risk manager do?

Options:

A.

Ask the project sponsor if every risk in the risk register can have the same priority.

B.

Mark every identified risk as an extremely high priority and any future risks as a lower priority.

C.

Agree with the SME, treat every risk with equal priority, and inform all stakeholders.

D.

Perform a sensitivity analysis and determine the correct priority of every identified risk.

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Questions 69

A company has implemented a policy requirement for employees to use complex passwords and update them regularly. A few employees are unable to make the changes, which increases the likelihood of cybercriminals compromising their passwords.

What should the risk manager do?

Options:

A.

Increase the residual risk monitoring.

B.

Increase the inherent risk monitoring.

C.

Reassess the inherent risk level.

D.

Reassess the residual risk level.

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Questions 70

A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.

What will be the main output of this meeting?

Options:

A.

Evaluating the project's probability of success

B.

Identifying threats and opportunities

C.

Evaluating the project's impact

D.

Performing a qualitative analysis

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Questions 71

In a project to promote public health and mitigate health risks, the national health authorities intend to take actions to limit the risks of harmful insects by using pesticides; however, it is expected that some residents will have negative health effects due to the use of the pesticides but according to the assessment completed by the health authorities, not moving forward with this plan will have much more serious consequences on public health rather than following through with the original plan.

How should the project manager address this concern with the health authorities?

Options:

A.

Suspend the project as the secondary risk will negatively impact residents' health which is not acceptable.

B.

Consult with health experts to provide a risk trigger before using pesticides that will impact the residents.

C.

Assess and record associated secondary risks and proceed to treat them as any other risks.

D.

Proceed with the project as normal since a minor number of residents will be effected negatively.

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Questions 72

A company is preparing a formal response to bid for an infrastructure engineering, procurement, and construction project. When should a risk register be developed to identify risks?

Options:

A.

During the project execution phase to allow the project manager to understand the risk attitudes of stakeholders.

B.

When a client project kick-off meeting is held to introduce risk assessment process to the client.

C.

Before a formal bid response is provided to the client to gain a greater understanding of the project’s risk profile.

D.

After a project budget is set up with a purchase order to charge hours for a risk workshop.

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Questions 73

A company manages confidential customer information, and a data breach exposing sensitive information was discovered. What should the risk manager do?

Options:

A.

Execute the security risks contingency plan.

B.

Get a report of customers affected by the risk.

C.

Identify residual and secondary risks.

D.

Coordinate a response with the risk owner.

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Questions 74

Towards the end of definitive design, project costs have increased to the point where it will be classified as a capital asset project. The customer has expressed they want one final total project completion date and will afford no extensions after it is established.

How should the risk manager proceed?

Options:

A.

Perform a qualitative risk analysis and update the results.

B.

Update the assumptions/exclusions register with the new information.

C.

Update the risk register and prepare for the Monte Carlo analysis.

D.

Perform a quantitative risk analysis and update the results.

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Questions 75

A software development project team was preparing for a phased release when an unknown and unexpected risk occurred with potential for delaying one of the features for the planned release. The project team decided to go ahead with the release and address this missing feature at a later date. One of the end users learned about this and strongly opposed the planned release.

What should the risk manager have done to prevent this situation?

Options:

A.

Engaged the sponsor and informed them of the decision to remove the planned feature.

B.

Engaged the stakeholders more in risk management activities and decisions to get their buy-in and support.

C.

Performed proper risk identification at the project outset to ensure this risk was identified and mitigated.

D.

Created a schedule buffer in the plan to deal with unknown risks if and when they occurred. 

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Questions 76

A project with impending risks has 12 deliverables as subprojects, which will be executed in three different locations involving multiple stakeholders. What should the risk manager do to organize the prevailing risks?

Options:

A.

Combine individual and focus groups to identify risks and create the overall risk register.

B.

Use focus groups to conduct group risk assessments of the project to identify risks.

C.

Request individual assessments of the project and its deliverables to identify risks.

D.

Use the external risk assessment of the project and its deliverables to identify risks.

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Questions 77

The project manager is reviewing the lessons learned from a previous similar project. The previous project was delayed due to the delay in delivery of a gas turbine generator (GTG). Construction of the previous project had to be shut down unexpectedly to wait for the late delivery of the GTG.

What should the project manager do first?

Options:

A.

Include the risk in the register and communicate with the stakeholders.

B.

Communicate with the client to provide the previous shutdown plan.

C.

Review and update the project schedule.

D.

Interview the other project manager to learn more details.

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Questions 78

A company has a project whose objective is to extract gold reserves from Field 1. However, another field closest to the company. Field 2, which has a higher probability of having twice as much gold reserves than Field 1. The risk manager requests the board of Directors to include Field 2 under the scope of the current project by management of change because the project's profitability will increase by 80%.

What type of request is the risk manager describing?

Options:

A.

A request to increase project earnings

B.

A request to increase project resources

C.

A challenge to stakeholder thresholds

D.

A challenge to the project investment 

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Questions 79

Several key stakeholders approach the project manager with concerns. The stakeholders have received feedback from local businesses that have reported a reduction in customers because of construction activities at the worksite, and they plan to submit a claim to the municipality to fine the project manager's company.

How should the project manager address this concern?

Options:

A.

Evaluate the risk with the team and update the issueing

B.

Discuss the concern with the local business owners.

C.

Update the key risks and perform a quantitative risk analysis.

D.

Adjust construction work hours to after business hours.

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Exam Code: PMI-RMP
Exam Name: PMI Risk Management Professional (PMI-RMP) Exam
Last Update: Jul 3, 2025
Questions: 264

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