PMI-RMP PMI Risk Management Professional Practice Test Set 5

Adrian is a project manager for a new project using a technology that has recently been released
and there's relatively little information about the technology. Initial testing of the technology makes
the use of it look promising, but there's still uncertainty as to the longevity and reliability of the
technology. Adrian wants to consider the technology factors a risk for her project. Where should
she document the risks associated with this technology so she can track the risk status and
responses?



Options are :

  • None
  • Risk low-level watch list
  • Risk register (Correct)
  • Project scope statement
  • Project charter

Answer : Risk register

Which of the following processes must be repeated after Plan Risk Responses, as well as part of
the Monitor and Control Risks, to determine if the overall project risk has been satisfactorily
decreased?


Options are :

  • Identify Risk
  • Risk Limitation
  • Perform Qualitative Risk Analysis
  • Perform Quantitative Risk Analysis (Correct)

Answer : Perform Quantitative Risk Analysis

PMI-SP Scheduling Professional Practice Exam Set 8

You work as a project manager for BlueWell Inc. Your project is running late and you must
respond to the risk. Which risk response can you choose that will also cause you to update the
human resource management plan?


Options are :

  • Transference
  • Teaming agreements
  • Crashing the project (Correct)
  • Fast tracking the project

Answer : Crashing the project

You work as a project manager for TechSoft Inc. You are working with the project stakeholders on
the qualitative risk analysis process in your project. You have used all the tools to the qualitative 
risk analysis process in your project. Which of the following techniques is NOT used as a tool in qualitative risk analysis process?


Options are :

  • Risk Urgency Assessment
  • Risk Data Quality Assessment
  • Risk Reassessment (Correct)
  • Risk Categorization

Answer : Risk Reassessment

Gary is the project manager of the MMQ project for his company. He is working with his project
team to plan the risk responses for his project. Sarah, a project team member, does not
understand the process that Gary is using to plan the risk responses. Which approach is the
preferred method to address project risks and the risk responses?


Options are :

  • Risks in the project should be addressed by their impact for creating risk responses.
  • Risks in the project should be addressed by their probability for creating risk responses.
  • Risks in the project should be addressed by their priority for creating risk responses. (Correct)
  • Risks in the project should be addressed by the organization's risk tolerance for creating risk responses.

Answer : Risks in the project should be addressed by their priority for creating risk responses.

PMI-RMP PMI Risk Management Professional Practice Test Set 9

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?


Options are :

  • Expert judgment
  • Delphi Techniques
  • Brainstorming (Correct)
  • Checklist analysis

Answer : Brainstorming

Mike is the project manager of the NNP Project for his organization. He is working with his project
team to plan the risk responses for the NNP Project. Mike would like the project team to work
together on establishing risk thresholds in the project. What is the purpose of a risk threshold?


Options are :

  • It is a limit of the funds that can be assigned to risk events.
  • It is a warning sign that a risk event is going to happen.
  • It is a study of the organization's risk tolerance. (Correct)
  • It helps to identify those risks for which specific responses are needed.

Answer : It is a study of the organization's risk tolerance.

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


Options are :

  • Force field analysis chart
  • Tornado diagram (Correct)
  • Ishikawa chart
  • GERT Chart

Answer : Tornado diagram

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?



Options are :

  • Wendy can determine a true project completion date.
  • Wendy can forecast deviation of the project cost and schedule for completion targets. (Correct)
  • Wendy can review quality performance on baselines.
  • Wendy can track the cost and schedule variances.

Answer : Wendy can forecast deviation of the project cost and schedule for completion targets.

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


Options are :

  • Transference (Correct)
  • Avoidance
  • Mitigation
  • Acceptance

Answer : Transference

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?


Options are :

  • Qualitative risk analysis
  • Quantitative risk analysis
  • Risk audits
  • Requested changes (Correct)

Answer : Requested changes

PMI-SP Scheduling Professional Certification Practical Exam Set 1

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?


Options are :

  • IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks. (Correct)
  • IRGC is both a concept and a tool.
  • IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks.
  • IRGC addresses questions such as the understanding of the secondary impacts of a risk.

Answer : IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks.

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


Options are :

  • Transference (Correct)
  • Exploiting
  • Avoidance
  • Sharing

Answer : Transference

You are the project manager of the AFD project for your company. You are working with the
project team to reassess existing risk events and to identify risk events that have not happened
and whose relevancy to the project has passed. What should you do with these events that have
not happened and would not happen now in the project?


Options are :

  • Add the risks to a low-priority watchlist
  • Close the outdated risks (Correct)
  • Add the risks to the risk register
  • Add the risk to the issues log

Answer : Close the outdated risks

PMI Risk Management Professional Certification Practice Exam Set 7

Mark works as a project manager of the NNH project. In this project, he has created a contingency
response that the cost performance index should be less than 0.91. The NHH project has a budget
at completion of $950,000 and is 43 percent complete - though the project should be 50 percent
complete. The project has spent $470,897 to reach the 43 percent complete milestone. What is
the project's cost performance index?


Options are :

  • 0.87 (Correct)
  • 0.95
  • 0.91
  • 0.80

Answer : 0.87

What approach can a project manager use to improve the project's performance during qualitative
risk analysis?


Options are :

  • Create a risk breakdown structure and delegate the risk analysis to the appropriate project team members.
  • Analyze as many risks as possible regardless of who initiated the risk event.
  • Focus on high-priority risks. (Correct)
  • Focus on near-term risks first.

Answer : Focus on high-priority risks.

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?


Options are :

  • It is a rapid and cost-effective means of establishing priorities for the plan risk responses and lays the foundation for quantitative analysis. (Correct)
  • It is a cost-effective means of establishing probability and impact for the project risks.
  • Qualitative risk analysis helps segment the project risks, create a risk breakdown structure, and create fast and accurate risk responses.
  • All risks must pass through quantitative risk analysis before qualitative risk analysis.

Answer : It is a rapid and cost-effective means of establishing priorities for the plan risk responses and lays the foundation for quantitative analysis.

PMI-SP Scheduling Professional Certification Practice Test Set 4

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?


Options are :

  • Transference
  • Enhancing
  • Mitigation (Correct)
  • Exploiting

Answer : Mitigation

You and your project team are just starting the risk identification activities for a project that is
scheduled to last for 18 months. Your project team has already identified a long list of risks that
need to be analyzed. How often should you and the project team do risk identification?


Options are :

  • It depends on how many risks are initially identified.
  • Identify risks is an iterative process (Correct)
  • At least once per month
  • Several times until the project moves into execution

Answer : Identify risks is an iterative process

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


Options are :

  • Negative $67,000
  • Negative $26,000 (Correct)
  • Zero - the risk event has not yet occurred
  • $27,000

Answer : Negative $26,000

PMI-SP Scheduling Professional Certification Practice Test Set 7

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?




Options are :

  • Quantitative analysis
  • Risk response
  • Risk response plan
  • Contingency reserve (Correct)

Answer : Contingency reserve

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 MonitoringD. Risk Management Planning



Options are :

  • A,B,D (Correct)
  • C,B,D
  • D,B,A
  • A,B,C

Answer : A,B,D

Beth is a project team member on the JHG Project. Beth has added extra features to the project
and this has introduced new risks to the project work. The project manager of the JHG project
elects to remove the features Beth has added. The process of removing the extra features to
remove the risks is called what?


Options are :

  • Defect repair
  • Corrective action
  • Preventive action (Correct)
  • Scope creep

Answer : Preventive action

PMP Exam Questions

Risks with low ratings of probability and impact are included on a ____ for future monitoring.


Options are :

  • Risk register
  • Observation list
  • Risk alarm
  • Watchlist (Correct)

Answer : Watchlist

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?


Options are :

  • Determines if the project assumptions are still valid
  • Determines if the risk management policies and procedures are being followed
  • Determines if the project constraints are still valid (Correct)
  • Determines if the risk contingency reserves should be modified to be in alignment with the current risk assessment

Answer : Determines if the project constraints are still valid

You are interviewing members of a project team to test their understanding of the assigned risk
responses as risk owners. You and the project manager are working together to evaluate the risk
responses to determine their effectiveness in the project. What project management technique are
you performing with the project manager in this scenario?


Options are :

  • Risk analysis
  • Risk audits (Correct)
  • Stakeholder analysis as the project team is a stakeholder
  • Risk identification with the project team

Answer : Risk audits

PMP Certification

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


Options are :

  • A risk audit is an audit of all the risks that have occurred in the project and what their true impact on cost and time has been.
  • A risk audit is a review of all the risk probability and impact for the risks, which are still present in the project but which have not yet occurred.
  • A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process. (Correct)
  • A risk audit is a review of all the risks that have yet to occur and what their probability of happening are.

Answer : A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process.

Tom is the project manager of the GGG project for his company. He is working with the project
team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review
the project scope statement as an input to the qualitative risk analysis process. Why?


Options are :

  • The project scope identifies the risks associated with project constraints.
  • The project scope statement will reveal the type of project as either a recurrent or first-of-its-kind project. (Correct)
  • The project scope statement must be understood to see the project requirements and the inherent risks of the project.
  • The project scope statement must be reviewed to understand the quality requirements and the risks associated with the demand for quality.

Answer : The project scope statement will reveal the type of project as either a recurrent or first-of-its-kind project.

You are working with the project stakeholders to analyze and prioritize their requirements for the
project. One of the project requirements is to achieve a high-level of customer satisfaction for the
project deliverable. What is the danger in this project requirement?


Options are :

  • Achieving customer satisfaction is a subjective requirement and entails a high level of risk of being successfully accomplished. (Correct)
  • Achieving customer satisfaction is a risk as the project manager cannot control how satisfied the customer will be with the project deliverables.
  • Achieving customer satisfaction is an assumption and should be documented in the project scope.
  • Achieving customer satisfaction should always map to the quality requirements for the project.

Answer : Achieving customer satisfaction is a subjective requirement and entails a high level of risk of being successfully accomplished.

PMI-RMP PMI Risk Management Professional Practice Test Set 7

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


Options are :

  • Risk management plan (Correct)
  • Human resource management plan
  • Risk analysis plan
  • Staffing management plan

Answer : Risk management plan

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