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PMI - PMI-RMP - Useful PMI Risk Management Professional Test Assessment
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PMI Risk Management Professional Sample Questions (Q262-Q267):
NEW QUESTION # 262
You are preparing to start the qualitative risk analysis process for your project. You will be relying on some organizational process assets to influence the process. Which one of the following is NOT a probable reason for relying on organizational process assets as an input for qualitative risk analysis?
- A. Review of vendor contracts to examine risks in past projects
- B. Risk databases that may be available from industry sources
- C. Studies of similar projects by risk specialists
- D. Information on prior, similar projects
Answer: A
NEW QUESTION # 263
Stakeholder holiday schedules and availability of raw materials were two risks initially identified in a manufacturing project. The risk manager now notices that both risks are not quite as originally described and might require a plan change.
What should the risk manager do next?
- A. Consult with the project manager to agree that these risks should be removed from the risk register
- B. Identify workarounds that can be implemented whether or not the change takes place.
- C. Keep the risks in the risk register and continue to follow up until the change actually takes place.
- D. Revisit the project the assumptions and constraints to potentially update the risk impact and response.
Answer: D
NEW QUESTION # 264
A risk manager has been assigned to an upcoming project. A senior risk manager within the organization recently completed a similar project and has provided a lessons learned document to aid planning efforts for the upcoming project. Upon reviewing the document, the risk manager discovers that the completed project was delivered several months behind schedule and several thousands of dollars over budget. The root cause was determined to be an unforeseen risk trigger that caused several items to be reworked, creating cascading schedule delays and depleting management reserves.
What should the risk manager do to mitigate the chance of the same issues reoccurring?
- A. Ensure that all project stakeholders have a copy of and understand the project's risk management plan.
- B. Distribute the lessons learned document to stakeholders knowing that the likelihood of reoccurrence is low.
- C. Increase the management reserves and inform stakeholders of what is available to cover any unexpected expenses
- D. Document the known risk triggers as the identified cost and schedule risks in the risk register.
Answer: D
NEW QUESTION # 265
You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy's concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks that have low probability and low impact for future reference.
What should you tell Nancy?
- A. Risks with low probability and low impact are recorded in awatchlist for future monitoring.
- B. All risks are recorded in the risk management plan.
- C. Risk identification is an iterative process so any changes to the low probability and low impact risks will be reassessed throughout the project life cycle.
- D. All risks, regardless of their assessed impact and probability, are recorded in the risk log.
Answer: A
NEW QUESTION # 266
While planning for project execution phase stakeholders are making decisions on how to respond to known and new risks. What artifact should the stakeholders prepare?
- A. Risk-adjusted back log
- B. Issue log
- C. Assumption log
- D. Change log
Answer: A
Explanation:
Explanation
The stakeholders should prepare a risk-adjusted backlog when making decisions on how to respond to known and new risks. A risk-adjusted backlog helps prioritize work items based on their risk level and potential impact on the project.
A risk-adjusted backlog is an artifact that reflects the prioritization of the product backlog items based on their risk exposure. It is used to plan for the execution phase of an agile project, where the stakeholders can decide how to respond to known and new risks by selecting the most valuable and least risky items to deliver. A risk-adjusted backlog can help the stakeholders to optimize the value delivery and reduce the uncertainty of the project outcomes. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 113; PMI, Agile Practice Guide, 2017, p. 54.
NEW QUESTION # 267
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