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Pass4sure offers free demo for PMI-RMP exam. "PMI Risk Management Professional", also known as PMI-RMP exam, is a PMI Certification. This set of posts, Passing the PMI PMI-RMP exam, will help you answer those questions. The PMI-RMP Questions & Answers covers all the knowledge points of the real exam. 100% real PMI PMI-RMP exams and revised by experts!

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Beth is the project manager of the BFG Project for her company. In this project Beth has decided to create a contingency response based on the performance of the project schedule. If the project schedule variance is greater than $10,000 the contingency plan will be implemented. What is the formula for the schedule variance?

  • A. SV=EV/PV
  • B. SV=PV-EV
  • C. SV=EV/AC
  • D. SV=EV-PV

Answer: D

Examine the figure given below.
What will be the expected monetary value of Risk C?

  • A. -$113,750
  • B. $175,000 if the risk event actually happens
  • C. -$175,000
  • D. -$27,000

Answer: D

Donna is the project manager of the QSD Project and she believes Risk Event D in the following figure is likely to happen.
If this event does happen, how much will Donna have left in the risk contingency reserve if none of the other risk events have happened?

  • A. $35,000
  • B. $41,700
  • C. $14,000
  • D. $6,700

Answer: D

Frank is the project manager of the NHL Project for his company and he is starting the risk identification process for the project. Frank needs to ensure that the correct stakeholders are interviewed as part of risk identification. What document will help Frank to communicate and solicit inputs of the project stakeholders during risk identification?

  • A. Project charter
  • B. Risk register
  • C. Requirements management plan
  • D. Stakeholder register

Answer: D

You are the project manager of the GHY project for your organization. You are working with your project team to begin identifying risks for the project. As part of your preparation for
identifying the risks within the project you will need eleven inputs for the process. Which one of the following is NOT an input to the risk identification process?

  • A. Quality management plan
  • B. Cost management plan
  • C. Stakeholder register
  • D. Procurement management plan

Answer: D

You are the project manager of the NHQ project for your company. You are working with your project team to complete a risk audit. A recent issue that your project team responded to, and management approved, was to increase the project schedule because there was risk surrounding the installation time of a new material. Your logic was that with the expanded schedule there would be time to complete the installation without affecting downstream project activities. What type of risk response is being audited in this scenario?

  • A. Parkinson's Law
  • B. Mitigation
  • C. Avoidance
  • D. Lag Time

Answer: C

You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.

  • A. Organizational process assets
  • B. Cost management plan
  • C. Project scope statement
  • D. Risk register

Answer: ACD

Rob is the project manager of the IDLK Project for his company. This project has a budget of $5,600,000 and is expected to last 18 months. Rob has learned that a new law may affect how the project is allowed to proceed - even though the organization has already invested over $750,000 in the project. What risk response is the most appropriate for this instance?

  • A. Acceptance
  • B. Transference
  • C. Mitigation
  • D. Enhance

Answer: A

Fred is the project manager of a large project in his organization. Fred needs to begin
planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?

  • A. Variance and trend analysis
  • B. Information gathering techniques
  • C. Planning meetings and analysis
  • D. Data gathering and representation techniques

Answer: C

Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

  • A. It determines which risk events have the most potential impact on the project.
  • B. It uses round of anonymous surveys to predict which events are most likely to happen.
  • C. It uses rounds of anonymous surveys to predict probability and impact.
  • D. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives.

Answer: A

There are seven risk responses for any project. Which one of the following is a valid risk response for a negative risk event?

  • A. Enhance
  • B. Exploit
  • C. Acceptance
  • D. Share

Answer: C

Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?

  • A. It helps the project team realize the areas of the project most laden with risks.
  • B. It saves time by collecting the related resources, such as project team members, to analyze the risk events.
  • C. It can lead to developing effective risk responses.
  • D. It can lead to the creation of risk categories unique to each project.

Answer: C

You are the project manager of the AMD project for your organization. In this project, you are currently performing quantitative risk analysis. The tool and technique you are using is simulation where the project model is computed many times with the input values chosen at random for each iteration. The goal is to create a probability distribution from the iterations for the project schedule. What technique will you use with this simulation?

  • A. Pareto modeling
  • B. Expected Monetary Value
  • C. Analogous modeling
  • D. Monte Carlo Technique

Answer: D

Ruth is the project manager of ISFH project for her company. This project is forty percent complete and it appears that some risk events are going to happen in the project that will have an adverse affect on the project. Ruth creates a change request regarding the risks. Is this a valid response?

  • A. No, change requests should not address risks, only risk response strategies should be issued.
  • B. No, change requests should not address pending risks, but only scope changes.
  • C. Yes, change requests can be recommended for corrective actions for contingency plans.
  • D. Yes, change requests can ask for additional funds to pay for the risk impact.

Answer: C

You are the project manager of a large construction project. This project will last for 18 months and will cost $750,000 to complete. You are working with your project team, experts, and stakeholders to identify risks within the project before the project work begins.
Management wants to know why you have scheduled so many risk identification meetings throughout the project rather than just initially during the project planning. What is the best reason for the duplicate risk identification sessions?

  • A. The iterative meetings allow the project manager and the risk identification participants to identify newly discovered risk events throughout the project.
  • B. The iterative meetings allow all stakeholders to participate in the risk identification processes throughout the project phases.
  • C. The iterative meetings allow the project manager to discuss the risk events which have passed the project and which did not happen.
  • D. The iterative meetings allow the project manager to communicate pending risks events during project execution.

Answer: A

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?

  • A. Project scope statement
  • B. Risk register
  • C. Project charter
  • D. Risk low-level watch list

Answer: B


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