PMI-RMP PMI Risk Management Professional Practice Test Set 2

You and your project team have identified the project risks and now are analyzing the probability
and impact of the risks. What type of analysis of the risks provides a quick and high-level review of
each identified risk event?


Options are :

  • A risk probability-impact matrix
  • Quantitative risk analysis
  • Qualitative risk analysis (Correct)
  • Seven risk responses

Answer : Qualitative risk analysis

PMI-SP Scheduling Professional Certification Practice Test Set 3

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
  • Acceptance
  • Mitigation

Answer : Transference

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 :

  • 0.91
  • 0.95
  • 0.87 (Correct)
  • 0.80

Answer : 0.87

There are five inputs to the quantitative risk analysis process. Which one of the following is NOT
an input to the perform quantitative risk analysis process?


Options are :

  • Risk register
  • Enterprise environmental factors (Correct)
  • Cost management plan
  • Risk management plan

Answer : Enterprise environmental factors

PMI-ACP Agile Certified Practitioner Certified Practice Exam Set 2

Don is the project manager of the PFO project for his organization. Don is working with the project
team members and two subject matter experts to assess the identified risk events in the project.
Which of the following approaches is the best to assess the risk events in the project?


Options are :

  • Interviews or meetings (Correct)
  • Probability and Impact Matrix
  • Determination of the true cost of the risk event
  • Root cause analysis

Answer : Interviews or meetings

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

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

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
  • Add the risk to the issues log
  • Add the risks to the risk register
  • Close the outdated risks (Correct)

Answer : Close the outdated risks

PMI-SP Scheduling Professional Certification Practical Exam Set 5

Which of the following techniques examines the degree to which organizational strengths offset
threats and opportunities that may serve to overcome weaknesses?


Options are :

  • Delphi
  • SWOT Analysis (Correct)
  • Expert Judgment
  • Brainstorming

Answer : SWOT Analysis

You are the project manager for your organization. You have determined that an activity is too
dangerous to complete internally so you hire licensed contractor to complete the work. The
contractor, however, may not complete the assigned work on time which could cause delays in
subsequent work beginning. This is an example of what type of risk event?


Options are :

  • Secondary risk (Correct)
  • Internal
  • Pure risk

Answer : Secondary risk

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 helps to identify those risks for which specific responses are needed.
  • It is a study of the organization's risk tolerance. (Correct)

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

PMI-SP Scheduling Professional Certification Practice Test Set 8

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 :

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

Answer : Preventive action

You work as a project manager for BlueWell Inc. You are preparing for the risk identification
process. You will need to involve several of the project's key stakeholders to help you identify and
communicate the identified risk events. You will also need several documents to help you and the
stakeholders identify the risk events. Which one of the following is NOT a document that will help
you identify and communicate risks within the project?


Options are :

  • Activity duration estimates
  • Stakeholder register
  • Risk register (Correct)
  • Activity cost estimates

Answer : Risk register

You work as a project manager for BlueWell Inc. There has been a delay in your project work that
is adversely affecting the project schedule. You decided, with your stakeholders' approval, to fast
track the project work to get the project done faster. When you fast track the project which of the
following are likely to increase?


Options are :

  • Human resource needs
  • Quality control concerns
  • Costs
  • Risks (Correct)

Answer : Risks

PMP Certification

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


Options are :

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

Answer : Watchlist

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
  • Sharing
  • Avoidance

Answer : Transference

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.
  • Focus on high-priority risks (Correct)
  • Analyze as many risks as possible regardless of who initiated the risk event
  • Focus on near-term risks first

Answer : Focus on high-priority risks

PMI-RMP PMI Risk Management Professional Practice Test Set 7

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

Answer : Determines if the project constraints are still valid

Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified
a supplier who can create stained glass windows for 1,000 window units in the construction
project. The supplier is an artist who works by himself, but creates windows for several companies
throughout the United States. Management reviews the proposal to use this supplier and while
they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units
in time for the project's deadline. Management asked Harry to find a supplier who can fulfill the
completion of the windows by the needed date in the schedule. What risk response has
management asked Harry to implement?


Options are :

  • Avoidance
  • Transference
  • Acceptance
  • Mitigation (Correct)

Answer : Mitigation

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 :

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

Answer : Crashing the project

PMI-SP Scheduling Professional Practice Exam Set 2

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

Answer : Requested changes

David is the project manager of the NKL Project for his organization. He has been asked to create
a proposal for a construction project for a client. David realizes that there are several requirements
within the SOW and RFP provided by the client that would eliminate his company from bidding on
the construction project. David proposed to management that his organization create a partnership
with a competitor so that together they could bid on the construction project and qualify for the
customer's requirements. What risk response is David proposing to management?


Options are :

  • Transference
  • Teaming agreement
  • Sharing (Correct)
  • Exploiting

Answer : Sharing

PMI-RMP PMI Risk Management Professional Practice Test Set 4

You are the project manager of the HJK Project for your organization. You and the project team
have created risk responses for many of the risk events in the project. Where should you
document the proposed responses and the current status of all identified risks?


Options are :

  • Stakeholder management strategy
  • Risk management plan
  • Risk register (Correct)
  • Lessons learned documentation

Answer : Risk register

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?


Options are :

  • Performance bonds
  • Use of insurance
  • Warranties
  • Life cycle costing (Correct)

Answer : Life cycle costing

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 :

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

Answer : Identify risks is an iterative process

PMP Exam Questions

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.


Options are :

  • Estimating the average outcome
  • Model development
  • A,C,D (Correct)
  • Decision making or the development of recommendations for decision makers
  • Increased understanding or quantification of the system

Answer : A,C,D

You are the project manager of the GHG project. You are preparing for the quantitative risk
analysis process. You are using organizational process assets to help you complete the
quantitative risk analysis process. Which one of the following is NOT a valid reason to utilize
organizational process assets as a part of the quantitative risk analysis process?


Options are :

  • You will use organizational process assets for information from prior similar projects
  • You will use organizational process assets for studies of similar projects by risk specialists
  • You will use organizational process assets to determine costs of all risks events within the current project (Correct)
  • You will use organizational process assets for risk databases that may be available from industry sources.

Answer : You will use organizational process assets to determine costs of all risks events within the current project

Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project
stakeholders have completed a round of qualitative risk analysis. He needs to update the risk
register with his findings so that he can communicate the risk results to the project stakeholders
including management. Mark will need to update all of the following information except for which
one?


Options are :

  • Prioritized list of quantified risks (Correct)
  • Trends in qualitative risk analysis
  • Watchlist of low-priority risks
  • Risks grouped by categories

Answer : Prioritized list of quantified risks

PMI-SP Scheduling Professional Practice Exam Set 9

Harry works as a project manager for BlueWell Inc. He is determining how to conduct the risk
management activities for a project. According to the PMBOK, there are six inputs to the plan risk
management process. Which one of the following is NOT an input to this process?


Options are :

  • Cost management plan
  • Project scope statement
  • Risk management plan (Correct)
  • Schedule management plan

Answer : Risk management plan

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?


Options are :

  • Network diagram analysis of critical path activities (Correct)
  • List of potential risk responses
  • Symptoms and warning signs of risks
  • Trends in qualitative risk analysis results

Answer : Network diagram analysis of critical path activities

Billy is the project manager of the HAR Project and is in month six of the project. The project is
scheduled to last for 18 months. Management asks Billy how often the project team is participating
in risk reassessment in this project. What should Billy tell management if he's following the best
practices for risk management?


Options are :

  • Project risk management is scheduled for every month in the 18-month project
  • Project risk management happens at every milestone.
  • At every status meeting the project team project risk management is an agenda item (Correct)
  • Project risk management has been concluded with the project planning

Answer : At every status meeting the project team project risk management is an agenda item

PMI-SP Scheduling Professional Practice Exam Set 5

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