NEW 2024 Certification Sample Questions PMI-RMP Dumps & Practice Exam
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NEW QUESTION # 42
You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure: If Risk D happens in this project, how much will be left in the contingency reserve?
- A. $258,500
- B. $440,000
- C. $233,500
- D. $243,500
Answer: C
NEW QUESTION # 43
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?
- A. Interview the other project manager to learn more details.
- B. Communicate with the client to provide the previous shutdown plan.
- C. Review and update the project schedule.
- D. Include the risk in the register and communicate with the stakeholders.
Answer: A
Explanation:
Explanation
The project manager should first gather more information about the previous project's issues by interviewing the other project manager. This will help in understanding the root causes of the delay and how to prevent similar issues in the current project before taking further action.
NEW QUESTION # 44
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?
- A. Remove the risk from the list as they are no longer applicable.
- B. Close the risks and update their status in the risk register.
- C. Use their contingency with other risks that are still open.
- D. Reevaluate those risks' severity, and update the risk register.
Answer: B
Explanation:
Explanation
Since the design phase is complete and the identified risks did not materialize, the project manager should close the risks and update their status in the risk register.
NEW QUESTION # 45
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?
- A. To enable the team in identifying the specific causes of risks associated with project objectives.
- B. To determine there more attentive project leadership and organizational involvement is needed.
- C. To assign risks and risk severities to functional discipline and departments effectively.
- D. To ensure that project priorities are being appropriately factored into risk response plans.
Answer: D
Explanation:
Explanation
Categorizing risks by their impact on project objectives ensures that risk response plans are aligned with project priorities. This helps in focusing on the most critical risks and their potential impact on the project's success.
NEW QUESTION # 46
The project risk manager is in the process of identifying risks. The project sponsor has communicated that there is an influential stakeholder who has a senior management position. The other stakeholders do not feel comfortable speaking in front of this stakeholder.
What should the project risk manager do next to identify risks?
- A. Review the risk breakdown structure to ensure project scope is covered.
- B. Use expert judgment to remove ego or emotional conflict.
- C. Consider the Delphi technique to gather all stakeholder opinions.
- D. Use the brainstorming technique to remove personal bias.
Answer: C
Explanation:
Explanation
The Delphi technique allows the project risk manager to gather opinions from all stakeholdersanonymously.
This method would enable stakeholders to express their concerns without feeling uncomfortable in front of the influential stakeholder.
NEW QUESTION # 47
During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?
- A. Include an escalation process in the risk management plan
- B. Take note of the extensive impact of these risks in the risk register
- C. Contact the risk managers of the other projects and inform them
- D. Address the unique characteristics of these risks on a case-by-case basis
Answer: A
Explanation:
Explanation
The risk manager should include an escalation process in the risk management plan to address risks that may impact other projects. This ensures that any identified risks that could affect multiple projects are communicated and managed appropriately across the organization.
The risk manager should include an escalation process in the risk management plan to deal with risks that may affect other projects or the organization as a whole. An escalation process is a set of procedures that defines how and when risks should be communicated to higher levels of authority or responsibility for decision making or resolution. The escalation process should specify the criteria, roles, responsibilities, and communication channels for escalating risks. The risk manager should follow the escalation process when identifying risks that may have extensive impacts beyond the scope of the project. The other options are not appropriate actions for the risk manager to take. Contacting the risk managers of the other projects and informing them is not sufficient, as it does not ensure that the risks are properly addressed or resolved. Taking note of the extensive impact of these risks in the risk register is not enough, as it does not involve the necessary stakeholders or decision makers. Addressing the unique characteristics of these risks on a case-by-case basis is not consistent, as it does not follow a standard process or protocol. References: 2, 3, 4
NEW QUESTION # 48
You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?
- A. Risk category
- B. Cost
- C. Risk owner
- D. Impact
Answer: D
NEW QUESTION # 49
You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?
- A. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
- B. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
- C. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
- D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Answer: B
NEW QUESTION # 50
Frank is the project manager of the NHQ project for his company. Frank is working with the project team, key stakeholders, and several subject matter experts on risks dealing with the new materials in the project.
Frank wants to utilize a risk analysis method that will help the team to make decisions in the presence of the current uncertainty surrounding the new materials. Which risk analysis approach can Frank use to create an approach to make decisions in the presence of uncertainty?
- A. Delphi Technique
- B. Qualitative risk analysis process
- C. Quantitative risk analysis process
- D. Monte Carlo Technique
Answer: C
NEW QUESTION # 51
The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?
- A. Risk probability-impact matrix
- B. Risks grouped by categories
- C. Watchlist of low-priority risks
- D. Trends in qualitative risk analysis
Answer: A
NEW QUESTION # 52
Which of the following is a risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold?
- A. Exploit
- B. Mitigation
- C. Avoidance
- D. Transference
Answer: B
NEW QUESTION # 53
You are the project manager of the GHG project for your company. You have identified the project risks, completed qualitative and quantitative analysis, and created risk responses. You also need to document how and when risk audits will be performed in the project. Where will you define the frequency of risk audits?
- A. Risk response plan
- B. Schedule management plan
- C. Risk management plan
- D. Quality management plan
Answer: C
Explanation:
Explanation
NEW QUESTION # 54
What is an example of legal and regulatory requirements and/or constraints when assessing a project environment for threats and opportunities?
- A. Formal knowledge sharing and information sharing procedures
- B. Confidentiality of project information
- C. Organizational standard policies, processes, and procedures
- D. Organizational communication requirements
Answer: B
Explanation:
Explanation
Legal and regulatory requirements and constraints when assessing a project environment for threats and opportunities may include ensuring the confidentiality of project information, as this is often governed by laws and regulations.
NEW QUESTION # 55
As a part of monitoring and controlling the project, the project manager should update the risk register. The project manager should update the risk register with information on risk reassessment, risk audits, and periodic risk reviews. What other information should the project manager update the risk register with?
- A. Actual outcomes of the project's risks and of the risk responses.
- B. Actual costs and schedule delays of risk events.
- C. Actual outcomes of risk management duties by the project team.
- D. Actual cost of risk events.
Answer: A
NEW QUESTION # 56
You are the project manager of the NJJ project. Your enterprise environmental factors require that you establish certain risk management rules regarding low risks within your project. What is the best policy for risks with low probability and low impact in the project management?
- A. These risks should be placed on a watchlist for future monitoring.
- B. These risks should be accepted.
- C. These risks should be placed in the risk register.
- D. These risks should be identified, but dismissed.
Answer: A
Explanation:
Explanation
NEW QUESTION # 57
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. Prioritization of identified risk events based on probability and impact
- B. Cost of the risk impact if the risk event occurs
- C. Corresponding impact on project objectives
- D. Time frame for a risk response
Answer: B
NEW QUESTION # 58
Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?
- A. The project scope statement must be understood to see the project requirements and the inherent risks of the project.
- B. The project scope identifies the risks associated with project constraints.
- C. The project scope statement will reveal the type of project as either a recurrent or first-of-itskind project.
- D. The project scope statement must be reviewed to understand the quality requirements and the risks associated with the demand for quality.
Answer: C
NEW QUESTION # 59
Which risk response is acceptable for both positive and negative risk events?
- A. Sharing
- B. Enhancing
- C. Acceptance
- D. Transferring
Answer: C
NEW QUESTION # 60
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