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

Questions 4

During the design phase the project team is exploring various architecture options. After reviewing the results of design pilot, two conflicting infrastructure pieces were identified.

What action should the project manager take?

Options:

A.

Reassess the design for the two pieces.

B.

Escalate the situation and request approval to move forward.

C.

Confirm the results through a second pilot.

D.

Update the assumptions log and assess the risk associated with it.

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Questions 5

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 6

Stakeholder deliverable reviews will start soon and additional work is expected to resolve any issues or required adjustments. Budget overruns during execution have put serious constraints on the remainder of the project's budget.

What should the project manager do next?

Options:

A.

Request a budget relief using the management reserve.

B.

Conduct a risk reassessment and reserve analysis.

C.

Review the consequences of potential changes.

D.

Coach stakeholders on risk identification practices.

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Questions 7

The project manager leading a company's digital signature initiative for engineering drawingshas identified threats and opportunities using a strengths, weaknesses, opportunities, and threats (SWOT) analysis.

What are two potential threats or opportunities under the SWOT analysis? (Choose two.)

Options:

A.

The management team agreeing to include more resource for the digital signature initiative.

B.

The organization's professional engineers having reservations about possible information tampering.

C.

A growing number of competitors with digital signatures.

D.

An elimination of manual steps associated with recording wet signatures

E.

The growing adoption of mobile communications in the industry.

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Questions 8

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 9

An agriculture government agency faces different challenges with farmers and landlords In implementing its ambitious growth strategy. The agency decided to establish an enterprise risk management unit to identify risks, analyze risks, and provide a handbook showing how to handle the surrounding uncertainty.

What should the risk management expert recommend the agency do first to identify risks and develop the handbook?

Options:

A.

Follow standard risk Identification tools dedicated for agriculture and tailor them to the environment.

B.

Hire an agriculture expert who can develop the required handbook and discuss it with the agriculture minister.

C.

Prepare a list of the key resources that will be used to compile a risk management plan.

D.

Conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks.

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Questions 10

A project manager has just been assigned to a new project. The project manager has been tasked by the project sponsor to ensure the project risks are closely managed. The project manager starts with developing the risk management plan.

What is the expected outcome of developing the risk management plan?

Options:

A.

Being able to monitor and control risks throughout the project.

B.

Defining how risk management will be executed throughout the project.

C.

Documenting the communication strategy for risks throughout the project.

D.

Having the ability to identify risks throughout the project.

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Questions 11

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 12

During project planning, a risk is identified for which the risk manager has defined a mitigationstrategy. Later during project execution, this risk still leaves substantial residual risk.

What should the risk manager do to handle this situation?

Options:

A.

Revisit this risk in the risk register and redefine the mitigation strategy.

B.

Activate the contingency plan to handle this risk during execution.

C.

Mark this new risk as an extremely high priority and inform all stakeholders.

D.

Ask the project sponsor for more budget to deal with this risk.

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Questions 13

A risk manager completed risk response planning for a project that is currently in the execution phase. During a periodic review of the risk register, the project manager recognizes that some key secondary risks have not been considered.

Who should the project manager hold accountable for missing the risks?

Options:

A.

The audit team

B.

The risk manager

C.

The risk owners

D.

The discipline engineers

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Questions 14

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 tor those risks

D.

Review the risk register to check for the new risks

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Questions 15

The project team recorded a risk in the risk register indicating that weather-related delays may impact equipment delivery during project execution. When it is time to request the equipment shipment there is bad weather, but the client wants the equipment delivered anyway.

What should the project manager do?

Options:

A.

Wait until the weather improves before sending the equipment.

B.

Ask the project sponsor to approve shipping the equipment.

C.

Proceed with the planned risk response to move the equipment.

D.

Request the shipment of the equipment to satisfy the client.

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Questions 16

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 17

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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Exam Code: PMI-RMP
Exam Name: PMI Risk Management Professional (PMI-RMP) Exam
Last Update: Dec 7, 2024
Questions: 137

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