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

When conflicting infrastructure pieces are identified, the project manager should update the assumptions log to reflect the new information and assess the risks associated with the conflicting pieces. This allows the project manager to make informed decisions about how to address potential issues and avoid future problems. (Reference: Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Section 11.3)

The first element the risk owner should look for in the response plan is to verify that due dates for the actions have been identified. This ensures that risk mitigation actions are timely and can be effectively monitored.

The project manager should reassess the risks and analyze the reserve to determine if any adjustments can be made to accommodate the expected additional work. This will help in identifying potential budget-saving measures and making informed decisions on how toproceed.

SWOT analysis identifies strengths, weaknesses, opportunities, and threats. In this case, B and C are potential threats or opportunities. B is a threat as engineers' reservations may hinder the initiative, and C is an opportunity as growing competition may drive the company to improve its digital signature capabilities.

The first thing the risk manager should do is analyze the situation and meet with the risk owner. This will allow the risk manager to understand the challenges faced by the risk owner and work with them to find a solution. Conducting a cost-benefit analysis or changing the risk response strategy may be necessary, but it is important to first understand the situation before taking any action.

Engaging stakeholders through meetings, workshops, and interviews is crucial for risk identification, as it allows the agency to gather diverse perspectives and insights on potential risks. This approach is more effective than relying solely on standard tools or hiring an expert.

The expected outcome of developing the risk management plan is to define how risk management activities will be executed throughout the project. This includes the processes, tools, and techniques that will be used to identify, assess, and manage risks.

Enterprise environmental factors (EEFs) provide information about the organization's culture, risk tolerance, and risk attitudes, which can help the project manager determine the risk tolerance and risk attitudes of the project's key stakeholders. (Reference: PMBOK Guide, 6th Edition, p. 39)

If a risk still leaves substantial residual risk after implementing the mitigation strategy, the risk manager should revisit the risk register and redefine the mitigation strategy to reduce the residual risk to an acceptable level.

The risk manager is responsible for ensuring that all risks, including secondary risks, are identified and addressed during the risk response planning process. If key secondary riskswere missed, the risk manager should be held accountable. (Reference: Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Section 11.5)

If the project manager realizes that some risks have not been updated recently, they should review the risk register to check for new risks and ensure that all risks are accurately documented and updated.

The project manager should proceed with the planned risk response to move the equipment (C) since the risk of weather-related delays was already identified and recorded in the risk register. This approach ensures that the project team is prepared to handle the situation andcan mitigate the impact of the risk. This is consistent with the PMI's PMBOK Guide, Sixth Edition.

The risk manager should perform a quantitative risk analysis to determine the potential impact of risks on the project's completion date. This will help in providing a more accurate projectcompletion date to the customer, considering the risks and their potential effects on the project schedule.

The project manager should apply an iterative approach to risk identification, which involves continuous risk identification throughout the project lifecycle. This will help to identify and address new risks that may arise during the project.