ONLINE PMI-RMP TEST & PMI-RMP VALID TEST SYLLABUS

Online PMI-RMP Test & PMI-RMP Valid Test Syllabus

Online PMI-RMP Test & PMI-RMP Valid Test Syllabus

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PMI Risk Management Professional Sample Questions (Q183-Q188):

NEW QUESTION # 183
What is the primary difference between a risk audit and a risk reassessment?

  • A. Project stakeholders conduct risk audits; management conducts reassessments.
  • B. A risk reassessment is conducted at the completion of a major phase; audits are conducted after the project is complete.
  • C. Risk reassessments are regularly scheduled; risk audits are performed as defined in the project's risk management plan.
  • D. There is no difference; they are virtually the same.

Answer: C

Explanation:
Risk reassessment is an ongoing activity by the project team. Risks should be discussed at every status meeting. Risk audits are performed during the project life cycle to examine and document the effectiveness of risk responses. They are conducted at appropriate frequencies as defined in the risk management plan. [Monitoring and Controlling] PMI®, PMBOK® Guide, 2013, 351


NEW QUESTION # 184
Jenny is the project manager for the NBT projects. She is working with the project team and several subject matter experts to perform the quantitative risk analysis process. During this process she and the project team uncover several risks events that were not previously identified. What should Jenny do with these risk events?

  • A. The events should be entered into the risk register.
  • B. The events should be determined if they need to be accepted or responded to.
  • C. The events should continue on with quantitative risk analysis.
  • D. The events should be entered into qualitative risk analysis.

Answer: A


NEW QUESTION # 185
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?

  • A. Negotiate with the supplier to resolve the problem.
  • B. Execute the approved risk response plan.
  • C. Assign a team member to update the issue leg.
  • D. Escalate the problem to the project sponsors.

Answer: B

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)® Examination Content Outline1, one of the tasks in the domain of Risk Response is to execute the approved risk response plan in accordance with project guidelines and procedures1. A risk response plan is acomponent of the project management plan that describes the agreed-upon and funded actions to address the project risks, both positive and negative2. In this scenario, the risk manager should execute the approved risk response plan to deal with the new risk that appears when requesting fuel from another supplier, which will cause delays with several other projects. The risk response plan should have been developed and approved during the riskresponse planning process, which involves selecting and prioritizing the appropriate risk strategies and actions for each risk3. The risk response plan should also be aligned with the project guidelines and procedures, which are the rules and directions that define the project's scope, schedule, cost, quality,and other aspects4. The risk manager should not escalate the problem to the project sponsors, because that is not a risk response strategy, but rather a way to seek higher- level authority or support for a risk that is outside the project's scope or influence5. The risk manager should not negotiate with the supplier to resolve the problem, because that is not a risk response strategy, but rather a procurement management techniquethat involves reaching a mutually acceptable agreement with the supplier on the terms and conditions of the contract6. The risk manager should not assign a team member to update the issue log, because that is not a risk response strategy, but rather a risk monitoring and reporting technique that involves tracking and documenting the issues that have occurred or are currently affecting the project7. References: 1: PMI Risk Management Professional (PMI-RMP)® Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page
4143: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page
4404:A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page 385:
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page 4376: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page 4717: What Is an Issue Log? Templates & Tips7.


NEW QUESTION # 186
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?

  • A. When the risk has been realized and can no longer happen again
  • B. When the forecast activity date has been met or exceeded
  • C. When the stakeholders agree a risk is no longer applicable
  • D. When iterative data analysis determines the risk is not applicable

Answer: C

Explanation:
Project risks should be closed when the stakeholders agree a risk is no longer applicable. This ensures that risks are actively managed and only relevant risks are considered throughout the project lifecycle.
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, project risks are uncertain events or conditions that may have a positive or negative effect on one or more project objectives1.
Project risks can be closed when they are no longer applicable to the project or its activities. The process of closing project risks involves verifying that the risk responses have been completed, documenting the outcomes, and evaluating the effectiveness of the risk management process2. The decision to close a project risk should be made by the stakeholders who are responsible for or affected by the risk, as they are the ones who can determine whether the risk is still relevant or not. Therefore, the correct answer is B. When the stakeholders agree a risk is no longer applicable.
References: 1: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 397 2: PMI, Practice Standard for Project Risk Management, 2009, p. 111


NEW QUESTION # 187
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?

  • A. Identify risks only at the project's midpoint for the stakeholders to review them
  • B. Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas
  • C. Ensure project team members proactively identify risks throughout the project to plan for possible response strategies
  • D. Identify risks at the beginning of the project because the risk posture will not change

Answer: C

Explanation:
Risk identification should be an ongoing process throughout the project lifecycle. Encouraging project team members to proactively identify risks allows for continuous risk management and the development of appropriate response strategies as new risks emerge.
According to the PMI Risk Management Professional (PMI-RMP)Examination Content Outline1, one of the tasks in the domain of Risk Identification is to ensure that project team members proactively identify risks throughout the project life cycle, using various tools and techniques, to enable planning for possible risk response strategies1. Risk identification is an iterative process that should be performed regularly and frequently throughout the project, as new risks may emerge or existing risks may change due to internal or external factors2. The project manager should involve the project team members and other relevant stakeholders in the risk identification process, as they may have different perspectives, expertise, and insights on the project risks3. The project manager should not identify risks only at the project's midpoint for the stakeholders to review them, because that would be too late and ineffective to manage the risks that may have already occurred or escalated4. The project manager should not identify risks at the beginning of the project because the risk posture will not change, because that would be unrealistic and imprudent to assume that the project environment and conditions will remain static and predictable5. The project manager should not delegate risk identification to each team member and have them record the risks on separate risk registers for their areas, because that would create inconsistency, duplication, and fragmentation of the risk information, and prevent a holistic and integrated view of the project risks. Reference: 1: PMI Risk Management Professional (PMI-RMP)Examination Content Outline, page 82: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 3983: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 3994: Risk Identification: When and How Often to Do It During the Project Life Cycle5: Risk Management: Why Is It Important?. : Risk Register in Project Management - Project Management Academy.


NEW QUESTION # 188
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