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

PMI Risk Management Professional (PMI-RMP) Exam

Last Update Apr 18, 2025
Total Questions : 221

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Questions 1

Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others. What should the project manager do?

Options:

A.  

Reduce the probabilities of those risks on the risk register

B.  

Transfer ownership of those risks to the customer

C.  

Implement the risk handling strategies for those risks

D.  

Request additional management reserve for those risks

Discussion 0
Questions 2

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

 

Discussion 0
Questions 3

 

During the risk management planning, key stakeholders recommend adding more factors other than probability and the impact to refine the score of prioritized threats in subsequent iterations of the qualitative risk analysis. The stakeholders ask the risk manager to prepare a list to discuss this further.

Which three valid factors should the risk manager prepare on the list for discussion? (Choose 3)

Options:

A.  

Compatibility

B.  

Urgency

C.  

Usability

D.  

Proximity

E.  

Detectability

 

Discussion 0
Questions 4

During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.

Which tool should the project team use to determine this?

Options:

A.  

Sensitivity analysis

B.  

Threshold analysis

C.  

Reserve analysis

D.  

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

 

Discussion 0
Questions 5

In a large enablement project with strict time lines, risks need to be closely monitored. The risk manager publishes reports comparing planned enablement sessions with actual enablement sessions, which help identify potential risks to be addressed.

Which technique is the risk manager using?

Options:

A.  

Variance analysis

B.  

Residual impact analysis

C.  

Sensitivity analysis

D.  

Reserve analysis

 

Discussion 0
Questions 6

In a complex project, individual risks have been identified with the stakeholders. The project sponsor asks the risk manager about the likelihood of project success. Which risk analysis tool(s) should the risk manager use as a basis for their response?

Options:

A.  

Probabilistic and quantitative risk analyses to get the overall risk score

B.  

Quantitative risk analysis to get the overall risk score

C.  

Probabilistic risk analysis to get the overall risk score

D.  

Qualitative risk analysis to get the overall risk score

 

Discussion 0
Questions 7

An organization that spans across different countries undergoes a digital transformation project. The project manager has assigned a risk management team leader who is a risk management certified candidate in their domain.

What should the risk management team leader do in the early stages of the project?

Options:

A.  

Conduct qualitative risk analysis to prioritize potential risks.

B.  

Plan a solid risk response plan and secure the necessary funding.

C.  

Educate stakeholders on best practices to perform risk management.

D.  

Benchmark to an organization which has executed a similar project,

Discussion 0
Questions 8

When selecting strategies as an activity of Plan Risk Response, what is the overall goal?

Options:

A.  

Select the strategies with the least overall impact to resources.

B.  

Select the strategies with the least financial impact.

C.  

Select the strategies with the greatest overall positive influence.

D.  

Select the strategies with the greatest benefit to stakeholders.

Discussion 0
Questions 9

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

 

Discussion 0
Questions 10

A risk manager is reviewing documentation for a project following a risk planning workshop with project stakeholders and team members. Several items have been identified on the risk log that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur.

Which response should the risk manager recommend for these risk items?

Options:

A.  

Mitigate

B.  

Accept

C.  

Enhance

D.  

Exploit

Discussion 0
Questions 11

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

Discussion 0
Questions 12

Business rhythm can fluctuate greatly between different industries and vary betweencompanies within the same industry. What should be used 10 determine how often a project's risk register should be updated or reviewed in a given year when the project is in an industry with a very high business rhythm?

Options:

A.  

The risk management plan

B.  

The risk triggers

C.  

The risk prioritization criteria

D.  

The portfolio management plan

Discussion 0
Questions 13

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.

Discussion 0
Questions 14

An organization is embarking on a multi-million-dollar project with numerous identified risks. What should the project risk team do to navigate the risks on this project?

Options:

A.  

Go for a low-risk threshold of ±5% around a cost objective.

B.  

Confirm stakeholders risk thresholds based on risk appetites.

C.  

Conduct risk identification to populate the risk register.

D.  

Go for a high-risk threshold of ±10% around a cost objective.

 

Discussion 0
Questions 15

In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime. However, this action may lead to excessive additional cost.

What should the risk manager do?

Options:

A.  

Document the concern over the potential excessive additional cost.

B.  

Manage the potential excessive additional cost as a new risk.

C.  

Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.

D.  

Prepare a detailed response plan for the residual risk with a clear owner and time line to ensure there are no impacts to the project.

 

Discussion 0
Questions 16

A risk manager is preparing for the first meeting with their project sponsor on a potential project for a large client. The risk manager reviews their newly developed project risk register to identify any risks that should be analyzed further and begins by prioritizing the probability column based on the following criteria:

1 = Very Low

2 = Low

3 = Medium

4 = High

5 = Very High

What type of risk analysis is the risk manager performing?

Options:

A.  

Scenario-based risk analysis

B.  

Quantitative risk analysis

C.  

Qualitative risk analysis

D.  

Monte Carlo analysis

 

Discussion 0
Questions 17

A supplier Is delayed in delivering fuel for a project. The project manager anticipated this risk and is requesting fuel from another supplier. When speaking with the other supplier, a new risk appears because fulfilling the order will cause delays with several other projects.

After performing a detailed analysis, what should the risk manager do?

Options:

A.  

Escalate the problem to the project sponsors.

B.  

Execute the approved risk response plan.

C.  

Negotiate with the supplier to resolve the problem.

D.  

Assign a team member to update the issue leg.

Discussion 0
Questions 18

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.

Discussion 0
Questions 19

A risk manager for a financial organization is assigned to support a project team in developing a custom software solution to manage loans. Which document should the risk manager request first from the project sponsor to identify major risks?

Options:

A.  

Risk management plan

B.  

Clients' credit scores

C.  

Organization's mission and vision

D.  

Historical data from the credit portfolio

Discussion 0
Questions 20

A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.

What should the project team do next?

Options:

A.  

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

B.  

Log the threats in the risk register to try to minimize the probability of occurrence.

C.  

Log the threats in the risk register to try to maximize the probability of occurrence.

D.  

Update the project management plan to ensure the results of the opportunities are captured.

Discussion 0
Questions 21

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.

Discussion 0
Questions 22

An organization faces immense competition in the market and decides 10 accelerate a keyproject. 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

Discussion 0
Questions 23

A project manager is working on a high priority and high profile project. The project team hadidentified three opportunities, and after analysis, risk responses were recorded. Although risk responses were adequate for the identified opportunities, two of those opportunities were not acted upon. During the risk audit, the project manager found out that several of the planned risk responses were not implemented.

What should the project manager have done to avoid this?

Options:

A.  

Provided regular training to the risk owners for plan implementation

B.  

Determined risk triggers and thresholds in the risk response plan

C.  

Increased communications to influence stakeholder risk responses

D.  

Updated the project schedule, adding risk owner implementation tasks.

Discussion 0
Questions 24

A project team identified some risks in a project. Team members became interested in predicting the outcomes of their potential choices following their probability of occurrence.

Which technique should the risk manager use?

Options:

A.  

Political, economic, social, technological, legal, and environmental (PESTLE) analysis

B.  

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

C.  

Decision tree analysis

D.  

Cost-benefit analysis

Discussion 0
Questions 25

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.

Discussion 0
Questions 26

A risk manager for a hospital extension project is leading a project team in developing a risk management plan. One team member is responsible for conducting risk identification. The team member just joined the team and is struggling to ensure the coverage of all risks that might arise in this complex project.

How should the risk manager address this concern?

Options:

A.  

Develop a risk breakdown structure {RBS) to identify possible risks.

B.  

Develop a risk impact analysis to assess the consequences of possible risks

C.  

Develop a probability and impact matrix to analyze possible risks.

D.  

Create a risk register to capture and track possible risks.

 

Discussion 0
Questions 27

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

Discussion 0
Questions 28

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.

Discussion 0
Questions 29

A risk management team has completed a quantitative analysis, and the individual score in terms of schedule and cost has been identified. The team is consolidating inputs for contingency planning and notices that the available time and funds are not sufficient for all the risks.

What should the risk manager advise the project team?

Options:

A.  

Ask the project sponsor for more time and funds if needed.

B.  

Create a change request if there are additional needs based on the risk responses.

C.  

Accept some risks might not be materialized so no extra time and funds will be needed.

D.  

Focus on the high-impact risk for contingency planning purposes.

Discussion 0
Questions 30

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.

 

Discussion 0
Questions 31

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.

Discussion 0
Questions 32

A risk management professional is in the process of categorizing risks when a subject matter expert (SME) suggests categorizing the risks by their impact to the project objectives. Why should the risk management professional use this approach?

Options:

A.  

To enable the team in identifying the specific causes of risks associated with project objectives.

B.  

To ensure that project priorities are being appropriately factored into risk response plans.

C.  

To determine there more attentive project leadership and organizational involvement is needed.

D.  

To assign risks and risk severities to functional discipline and departments effectively.

Discussion 0
Questions 33

A project manager was informed that the testing of the latest component in the project's software update release was not successful. As a result, 1he delivery timelines for the software release wifi be delayed, The project manager did not previously capture this as a risk to the project.

What should the project manager do next to avoid similar risks?

Options:

A.  

Add contingencies to other tasks to mitigate similar risks.

B.  

Reassess risks with a new assumptions and constraints analysis.

C.  

Review the risk response plan looking for lessons learned.

D.  

Log the event in the issue log and update the project management plan.

Discussion 0
Questions 34

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.

Discussion 0
Questions 35

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.

Discussion 0
Questions 36

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

Discussion 0
Questions 37

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.

Discussion 0
Questions 38

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

Discussion 0
Questions 39

A project team has just completed a project plan, which includes extra days for most of the critical activities to cover any possible issues. Stakeholders want to remove these additional days, because the end date is longer than expected.

What should the risk manager do first?

Options:

A.  

Remove the activity padding.

B.  

Review the risk response plan.

C.  

Update the risk contingency plan.

D.  

Update the schedule constraints.

 

Discussion 0
Questions 40

A web page for weather reports will be online next quarter. During the retrospective, discrepancies were discovered with the customer’s requests and the user experience (UX). There is a disagreement between the product owner and the development team about what may have gone wrong and led to this.

What should the Extreme Programming (XP) coach do to keep the project on track and deliver on time?

Options:

A.  

Release this version and leave changes to be done at the end of the project phase.

B.  

Arrange a workshop where all ideas will be discussed and take corrective actions ensuring value delivery.

C.  

Ask the development team to brainstorm and come up with suggestions that will improve the delivery date.

D.  

Run a spike, identify what went wrong during implementation, and request a change to enhance value delivery.

Discussion 0
Questions 41

A project manager realizes the team undertaking the project work has fallen behind the planned schedule. The risk manager identifies a new risk resulting from this delay and will need to understand how this will affect the project deadline.

Which kind of numerical analysis should be performed to understand the worst-case scenarios?

Options:

A.  

Earned value analysis

B.  

Qualitative risk analysis

C.  

Sensitivity analysis

D.  

Root cause analysis

Discussion 0
Questions 42

A key project is delayed and all contingency reserves have been used even though the project team has implemented all planned risk responses. What should the risk manager do next?

Options:

A.  

Create a new project plan including the new risks.

B.  

Review the effectiveness of the risk process.

C.  

Update the risk management plan.

D.  

Escalate the project risks to upper management.

 

Discussion 0
Questions 43

A project manager wants to introduce a new technology to improve a project's performance. However, there are some costs associated that are beyond the current budget, and the proposed technology has not been applied to any previous company projects.

What should the project manager do in this situation?

Options:

A.  

Escalate this initiative to project decision makers and sponsors.

B.  

Accept the fact that there is a risk associated with this new technology.

C.  

Take advantage of this opportunity of Improving the project performance.

D.  

Outsource the implementation of the new technology as soon as possible.

Discussion 0
Questions 44

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

Discussion 0
Questions 45

The risk manager is facilitating risk planning activities with the team. The team is documenting all the check points along the way that might indicate delays on critical deliverables.

What is this an example of?

Options:

A.  

Risk responses

B.  

Risk triggers

C.  

Risk registers

D.  

Risk categories

Discussion 0
Questions 46

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.

Discussion 0
Questions 47

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.

Discussion 0
Questions 48

An undocumented risk is realized during the rollout of a new product line important to the company. The product owner escalates this matter to the company president, who expects all risks to be documented in the project risk plan.

How should the risk manager address this concern?

Options:

A.  

Risks are documented to the practicable extent possible.

B.  

Probability of the risk was very low. so the risk was not documented.

C.  

Impact of the risk was assessed to be insignificant, so the risk was not documented.

D.  

A similar risk never occurred in the past, so it was not considered.

 

Discussion 0
Questions 49

A project manager for a large product development project assigned a risk manager to perform the risk management. The project sponsor questions why this project requires a risk manager as it is similar to a previous project with a developed risk strategy.

How should the risk manager explain the need for a risk strategy specific to this project?

Options:

A.  

A risk strategy is a best practice and ensures quality in the project planning.

B.  

A project specific risk strategy includes enough information to respond to audits and compliance requirements.

C.  

A risk strategy ensures alignment of the organizational structure to the specific project.

D.  

A risk strategy aligns individual project risk thresholds with organizational risk appetite.

 

Discussion 0
Questions 50

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.

Discussion 0
Questions 51

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.

Discussion 0
Questions 52

During the weekly project meeting a risk manager identified new risks in the last sprint, which might impact the project cost by implementing mitigation plans. The sponsor and some project team members do not agree that those risks can impact the project cost.

What should the risk manager do to resolve the sponsor and project team members' concerns about risk identification?

Options:

A.  

Reinforce to the stakeholders that the risk identification was done properly during the last sprint.

B.  

Highlight the importance of agreeing on the risk identification to avoid further delays.

C.  

Conduct a separate meeting to show the risk identification analysis to the stakeholders.

D.  

Ensure that the most knowledgeable members of the team validate risk identification processes.

 

Discussion 0
Questions 53

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 simulation

D.  

Mind mapping

Discussion 0
Questions 54

A project manager is assigned to a new project and is told they need to develop the project's risk register. When should the project manager identify the project risks?

Options:

A.  

Identify risks only at the project's midpoint for the stakeholders to review them

B.  

Ensure project team members proactively identify risks throughout the project to plan for possible response strategies

C.  

Identify risks at the beginning of the project because the risk posture will not change

D.  

Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas

Discussion 0
Questions 55

A project team is concerned about a risk which, if occurs, might add additional complexity to their work. The team will need help from an external vendor, but the contracting process is long.

What should the risk manager do in this case?

Options:

A.  

Document the risk in the risk register for analysis.

B.  

Document the detailed risk consequences,

C.  

Immediately start the contracting process.

D.  

Proceed with the quantitative risk analysis.

 

Discussion 0
Questions 56

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.

Discussion 0
Questions 57

During project execution, a project manager invites the stakeholders to a risk review meeting. During this meeting, a vendor highlights that the mitigation plan for a schedule risk has generated an additional risk.

What should the risk manager do first?

Options:

A.  

Update the new risk in the risk register.

B.  

Plan responses for the new risk.

C.  

Passively accept the new risk.

D.  

Add the new risk to the watch list.

Discussion 0
Questions 58

The scope of a large mobile network deployment project includes equipment to be furnished by the customer. The risk manager is concerned that the equipment delivery might be delayed, causing additional delays in the project.

What should the risk manager do?

Options:

A.  

Follow up on the schedule and assess the best course of action if any delays are detected.

B.  

Ensure the equipment constraint is well-documented and manage it as a high-impact project risk.

C.  

Raise the issue with the project sponsor so it can be handled as a sales or contractual matter.

D.  

Obtain a signed commitment from the customer that equipment will be delivered on time.

 

Discussion 0
Questions 59

After completing the risk register, many team members feel there is a lack of time prioritization for one of the identified risks What are the team members referring to?

Options:

A.  

Risk trigger

B.  

Risk escalation

C.  

Risk urgency

D.  

Risk time impact

Discussion 0
Questions 60

A list of risks was identified that could occur during the design phase. Now, the team finished the design phase and those risks did not materialize.

What should the project manager do next?

Options:

A.  

Close the risks and update their status in the risk register.

B.  

Use their contingency with other risks that are still open.

C.  

Remove the risk from the list as they are no longer applicable.

D.  

Reevaluate those risks' severity, and update the risk register.

Discussion 0
Questions 61

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

Discussion 0
Questions 62

The project’s customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?

Options:

A.  

Update the assumptions/exclusions register

B.  

Hire more resources and crash the schedule

C.  

Perform a qualitative risk analysis for the project

D.  

Mitigate risks identified on the sensitivity analysis

Discussion 0
Questions 63

The project risk manager on a large firm fixed priced (FFP) contract has an up-to-date risk register with accurate and detailed information. What should the project risk manager do next?

Options:

A.  

Recommend the removal of risks to the project manager to reduce project risk exposure.

B.  

Advise the client that the project has exhausted contingency.

C.  

Quantify the risk exposure that exceeds project contingency.

D.  

Generate reports to assess and communicate the project risk level.

Discussion 0
Questions 64

A risk manager of a major project facilitates a meeting to develop the risk management plan. What two factors does the risk manager need to consider to ensure an effective risk management plan is developed? (Choose two.)

Options:

A.  

Applying modern risk management techniques.

B.  

Aligning to project constraints and priorities.

C.  

Ensuring risk response strategies mitigate all risks.

D.  

Minimizing implementation costs.

E.  

Obtaining stakeholder acceptance

Discussion 0
Questions 65

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

 

Discussion 0
Questions 66

A complex project that had hundreds of risks is almost done. The project manager is closing the risks as part of the closing process. One team member mentions that there are important documents to be updated.

Which document will need to be updated?

Options:

A.  

Lessons learned

B.  

Contingency register

C.  

Risk register

D.  

Issue log

Discussion 0