Regenerate PMI Risk Management Professional PMI-RMP Training Materials

NEW QUESTION 1
Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project. Which of the following answers best describes what Stephen should do with these risk events?

• A. The low probability and low impact risks should be added to a watchlist for future monitoring.
• B. Because they are low probability and low impact, the risks can be dismissed.
• C. The low probability and low impact risks should be added to the risk register.
• D. Because they are low probability and low impact, Stephen should accept the risks.

Answer: A

NEW QUESTION 2
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?

• A. Use of insurance
• B. Warranties
• C. Life cycle costing
• D. Performance bonds

Answer: C

NEW QUESTION 3
You are the project manager of the GHY project. In your organization you must follow certain enterprise environmental factors that establish the rules for risk management . One of the policies your project must adhere to requires periodic rapid analysis of risks within the project. These rapid, cost-effective session must be documented and performed monthly. What type of analysis are you required to perform according to your enterprise environmental factors?

• A. Brainstorming
• B. Qualitative analysis
• C. Delphi Technique
• D. Quantitative analysis

Answer: B

NEW QUESTION 4
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?

• A. Quantitative risk analysis
• B. Risk audits
• C. Requested changes
• D. Qualitative risk analysis

Answer: C

NEW QUESTION 5
Sammy is the project manager for her organization. She would like to rate each risk based on its probability and affect on time, cost, and scope. Harry, a project team member, has never done this before and thinks Sammy is wrong to attempt this approach. Harry says that an accumulative risk score should be created, not three separate risk scores. Who is correct in this scenario?

• A. Harry is correct, because the risk probability and impact considers all objectives of the project.
• B. Harry is correct, the risk probability and impact matrix is the only approach to risk assessment.
• C. Sammy is correct, because organizations can create risk scores for each objective ofthe project.
• D. Sammy is correct, because she is the project manager.

Answer: C

NEW QUESTION 6
You are the project manager of the GHQ project for your company. You are working with your project team to prepare for the qualitative risk analysis process. Mary, a project team member, does not understand why you need to complete qualitative risks analysis. You explain to Mary that qualitative risks analysis helps you determine which risks needs additional analysis. There are also some other benefits that qualitative risks analysis can do for the project. Which one of the following is NOT an accomplishment of the qualitative risk analysis process?

• A. Corresponding impact on project objectives
• B. Time frame for a risk response
• C. Prioritization of identified risk events based on probability and impact
• D. Cost of the risk impact if the risk event occurs

Answer: D

NEW QUESTION 7
Fred is the project manager of the PKL project. He is working with his project team to complete the quantitative risk analysis process as a part of risk management planning. Fred understands that once the quantitative risk analysis process is complete, the process will need to be completed again in at least two other times in the project. When will the quantitative risk analysis process need to be repeated?

• A. Quantitative risk analysis process will be completed again after the cost management planning and as a part of monitoring and controlling.
• B. Quantitative risk analysis process will be completed again after new risks are identified and as part of monitoring and controlling.
• C. Quantitative risk analysis process will be completed again after the risk response planning and as a part of monitoring and controlling.
• D. Quantitative risk analysis process will be completed again after the plan risk response planning and as part of procurement.

Answer: C

NEW QUESTION 8
What project management plan is most likely to direct the quantitative risk analysis process for a project in a matrix environment?

• A. Risk analysis plan
• B. Staffing management plan
• C. Human resource management plan
• D. Risk management plan

Answer: D

NEW QUESTION 9
You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?

• A. Define Scope
• B. Plan Risk Responses
• C. Plan Risk Management
• D. Identify Risks

Answer: D

NEW QUESTION 10
Which one of the following is the only output for the qualitative risk analysis process?

• A. Enterprise environmental factors
• B. Project management plan
• C. Risk register updates
• D. Organizational process assets

Answer: C

NEW QUESTION 11
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 Monitoring
• D. Risk Management Planning

Answer: ABD

NEW QUESTION 12
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?

• A. Negative $26,000
• B. Negative $67,000
• C. Zero - the risk event has not yet occurred
• D. $27,000

Answer: A

NEW QUESTION 13
You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants towards the project risk?

• A. Evaluate and document the bias towards the risk events
• B. Evaluate the bias through SWOT for true analysis of the risk events
• C. Document the bias for the risk events and communicate the bias with management
• D. Evaluate the bias towards the risk events and correct the assessment accordingly

Answer: D

NEW QUESTION 14
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 qualitative risk analysis.
• B. The events should be determined if they need to be accepted or responded to.
• C. The events should be entered into the risk register.
• D. The events should continue on with quantitative risk analysis.

Answer: C

NEW QUESTION 15
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.

• A. Increased understanding or quantification of the system
• B. Estimating the average outcome
• C. Model development
• D. Decision making or the development of recommendations for decision makers

Answer: ACD

NEW QUESTION 16
Who is responsible for the stakeholder expectations management in a high-profile, high- risk project?

• A. Project risk assessment officer
• B. Project management office
• C. Project sponsor
• D. Project manager

Answer: D

NEW QUESTION 17
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