PMI PMI Certifications PMI-RMP Questions & Answers

• Question 471:

  Members of a project team are not taking their risk management responsibilities seriously. They do not consider risk management as primary to the project's success and do not believe that the benefits are significant.

  What should the risk manager do?

  A. Schedule a meeting to review and develop realistic risk thresholds with the project team.

  B. Motivate and influence the project team with risk engagement activities like workshops.

  C. Ensure that risk management responsibilities are clearly identified in the risk management plan.

  D. Ensure that the risk language used by all stakeholders is consistent with the risk management plan.

  Correct Answer: B

  Explanation: To address the lack of risk management buy-in from the project team, the risk manager should organize risk engagement activities, such as workshops. These activities can help create awareness of the importance of risk management and motivate the team to take their risk management responsibilities seriously. Risk engagement is the process of involving stakeholders in risk management activities, such as identifying, analyzing, prioritizing, and responding to risks. Risk engagement activities are designed to motivate and influence the project team and other stakeholders to take their risk management responsibilities seriously and to understand the benefits of risk management for the project's success. Risk engagement activities can include workshops, games, simulations, brainstorming sessions, surveys, interviews, and other interactive methods. Risk engagement activities can help to create a positive risk culture, improve communication and collaboration, increase risk awareness and ownership, and enhance risk management skills and knowledge. References: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; Mastering PMI-RMP Domains, Tasks, and Enablers for Effective Risk2

• Question 472:

  During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.

  Which action should the risk manager take to address this risk?

  A. Accept the identified risk because other stakeholders feel that there are higher priority risks to address.

  B. Mitigate the identified risk in order to reduce the probability of impacting the stakeholder's team.

  C. Escalate the identified risk to the project sponsor and allow them to determine the best course of action.

  D. Add the identified risk to the risk register for future probability and impact analysis.

  Correct Answer: D

  Adding the identified risk to the risk register is the best action that the risk manager can take to address this risk. The risk register is a document that records the identified risks, their characteristics, their status, and their responses. By adding the risk to the risk register, the risk manager can ensure that the risk is not overlooked or ignored, and that it will be subjected to further probability and impact analysis to determine its priority and response strategy. Accepting the identified risk because other stakeholders feel that there are higher priority risks to address is not a good practice, as it may lead to overlooking a potentially significant risk that could affect the stakeholder's team. Mitigating the identified risk in order to reduce the probability of impacting the stakeholder's team is not advisable, as it may be a premature or unnecessary action without proper analysis of the risk probability and impact. Escalating the identified risk to the project sponsor and allowing them to determine the best course of action is not appropriate, as it may be an overreaction or a sign of lack of competence from the risk manager, who should be able to handle the risk identification and analysis process. References: PMI Risk Management Professional (PMI-RMP) ontent Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP) Cert Guide3

• Question 473:

  Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted.

  What will help calculate the impact?

  A. Risk analysis

  B. Risk identification

  C. Risk treatment

  D. Risk evaluation

  Correct Answer: A

  Explanation: Risk impact assessment involves calculating the impact of identified risks. Risk analysis is the process of examining, estimating, and evaluating the impact of risks, which helps in calculating the impact (Reference: PMBOK Guide, 6th Edition, p. 417) Risk analysis is the process of assessing the likelihood and impact of the identified risks on the program objectives. It helps to calculate the impact of the risks by using qualitative or quantitative methods. Risk analysis can provide useful information for risk prioritization, risk response planning, and risk reporting. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 67; PMI, The Standard for Program Management, Fourth Edition, 2017, p. 113.

• Question 474:

  A risk manager is facilitating a risk identification workshop on a new product with technical experts. There is no consensus among the technical experts on most of the identified risks and their characteristics. The risk manager decides to resolve this difference using another technique.

  Which technique should the risk manager use in this situation?

  A. Brainstorming

  B. Delphi method

  C. Focus group

  D. Checklist analysis

  Correct Answer: B

  Explanation: The risk manager should use the Delphi method in this situation, as this is a technique that can help resolve differences among experts and reach a consensus on the identified risks and their characteristics. The Delphi method is a tool used to make quick decisions with consensus. This technique consists of sending several sets of anonymous questions to each expert. This is followed by a group discussion after every round. The Delphi method can help the risk manager to solicit the opinions of all experts without revealing their identities. This way, the experts can express their views freely and honestly, without being influenced or intimidated by others. The Delphi method can also reduce personal bias, ego, or emotional conflict among the participants. The risk manager can use the results of the Delphi method to create a list of potential risks and their causes, effects, and probabilities. The other options are not appropriate techniques for the risk manager to use in this situation. Brainstorming is a technique that can help generate ideas and identify risks, but it may not be effective in resolving differences among experts, as it involves open and spontaneous discussion. Focus group is a technique that can help collect requirements and opinions from stakeholders, but it may not be suitable for resolving technical disagreements among experts, as it involves a moderated and structured discussion. Checklist analysis is a technique that can help identify risks based on historical information and lessons learned, but it may not be helpful in resolving differences among experts, as it involves a predefined list of potential risks. References: 3, 4, 5

• Question 475:

  A project is at the final development stage. The test lead informs the risk manager that a key feature may not be testable due to changes in the environment

  What should the risk manager do?

  A. Confirm the risk triggers are still valid.

  B. Ask the architect to develop acceptance criteria.

  C. Review the feature with the project team.

  D. Escalate the issue to the project board.

  Correct Answer: C

  Explanation: The risk manager should review the feature with the project team to determine the cause and impact of the untestability, and to identify possible solutions or alternatives. The risk manager should also update the risk register and the risk response plan accordingly. This is the best option among the given choices, as it involves the relevant stakeholders and follows the risk management process. Confirming the risk triggers are still valid is not sufficient, as it does not address the problem or its consequences. Asking the architect to develop acceptance criteria is not appropriate, as it may not be feasible or effective to test the feature with new criteria. Escalating the issue to the project board is premature, as it may not be necessary or desirable to involve the senior management without first analyzing the situation and proposing a course of action. References: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition. Chapter 11: Project Risk Management, pp. 414-415. 5 When a key feature may not be testable due to changes in the environment, the risk manager should review the feature with the project team to understand the issue, assess its impact, and determine the appropriate risk response. This collaborative approach ensures that the team has a clear understanding of the situation and can work together to address the risk.

• Question 476:

  A project lihat was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up. the project manager is developing the risk planning for the project.

  What three artifacts should the project manager consult or review during this process? (Choose three.)

  A. Project contracts

  B. Lessons learned registers from analogous projects

  C. Risk register

  D. Risk management plan

  E. Code of regulations

  Correct Answer: ABD

  Explanation: The project manager should consult or review project contracts, lessons learned registers from analogous projects, and the risk management plan to develop an effective risk planning for the project. According to the PMBOK Guide, the risk management plan is one of the key inputs for the plan risk management process, which is the first process in the project risk management knowledge area. The risk management plan describes how risk management activities will be structured and performed throughout the project. It includes information such as the methodology, roles and responsibilities, budget, timing, risk categories, definitions of risk probability and impact, probability and impact matrix, revised stakeholders' risk tolerances, reporting formats, and tracking (page 409). Therefore, option D is the correct answer. The project contracts are also an important input for the plan risk management process, as they may contain terms and conditions that can create or affect various project risks. For example, contracts may include clauses related to penalties, incentives, warranties, intellectual property rights, termination, force majeure, arbitration, indemnification, etc. The project manager should review the project contracts to identify any potential sources of risk and plan appropriate responses (page 410). Therefore, option A is the correct answer. The lessons learned registers from analogous projects are another valuable input for the plan risk management process, as they provide historical information and knowledge that can help the project manager identify and analyze risks, as well as plan risk responses. The lessons learned registers may contain information such as the risks that occurred, the root causes of the risks, the risk triggers, the effectiveness of the risk responses, the residual and secondary risks, the risk owners, the risk ratings, the risk trends, etc. The project manager should consult the lessons learned registers from similar or comparable projects to learn from past experiences and avoid repeating mistakes (page 411). Therefore, option B is the correct answer. The risk register is not an input for the plan risk management process, but an output. The risk register is a document that contains the list of identified risks, their causes, potential responses, and other relevant information. The risk register is

  created during the identify risks process, which is the second process in the project risk management knowledge area. The risk register is then updated and refined throughout the project as more information becomes available and new risks

  emerge (page 414). Therefore, option C is incorrect.

  The code of regulations is not an input for the plan risk management process, but a type of enterprise environmental factor. Enterprise environmental factors are the conditions, not under the control of the project team, that influence,

  constrain, or direct the project. The code of regulations refers to the rules and standards that govern the project's industry, domain, or sector. The code of regulations may affect the project's scope, schedule, cost, quality, resources,

  communications, procurement, and risk management. The project manager should consider the code of regulations when planning risk management activities, but it is not an artifact that needs to be reviewed or consulted (page 38).

  Therefore, option E is incorrect.

  References: PMBOK Guide, pages 38, 409-411, 4141

• Question 477:

  A project manager was informed that the testing of the latest component in the project's software update release was not successful. As a result, 1he delivery timelines for the software release wifi be delayed, The project manager did not previously capture this as a risk to the project.

  What should the project manager do next to avoid similar risks?

  A. Add contingencies to other tasks to mitigate similar risks.

  B. Reassess risks with a new assumptions and constraints analysis.

  C. Review the risk response plan looking for lessons learned.

  D. Log the event in the issue log and update the project management plan.

  Correct Answer: B

  Explanation: The project manager should reassess risks by conducting a new assumptions and constraints analysis. This will help identify any previously overlooked risks and ensure that the risk register is comprehensive and up-to-date.

• Question 478:

  An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?

  A. Ensure sufficient resources are available

  B. Revise the risk management plan

  C. Update the risk register

  D. Meet with the project's stakeholders

  Correct Answer: B

  Explanation: The risk management plan is a document that describes how risk management activities will be structured and performed on a project. It defines the roles and responsibilities, risk categories, risk appetite and thresholds, risk identification and analysis methods, risk response strategies, risk monitoring and reporting mechanisms, and risk governance mechanisms1. The risk management plan should be aligned with the project management plan, which defines the project scope, schedule, cost, quality, and other aspects2. When an organization decides to accelerate a key project, it means that the project objectives, assumptions, constraints, and environment have changed. This will affect the risk exposure and profile of the project, as well as the risk management approach and resources. Therefore, the first action for the project risk manager to take is to revise the risk management plan to reflect the new situation and ensure that the risk management process is still effective and efficient. Revising the risk management plan may involve updating the risk categories, risk appetite and thresholds, risk identification and analysis methods, risk response strategies, risk monitoring and reporting mechanisms, and risk governance mechanisms to suit the accelerated project. The project risk manager should also communicate the revised risk management plan to the relevant stakeholders and obtain their approval and support1. Ensuring sufficient resources are available, updating the risk register, and meeting with the project's stakeholders are all important actions to take when accelerating a project, but they are not the first action. These actions should be done after revising the risk management plan, as they depend on the updated risk management approach and process. For example, the project risk manager may need to allocate more resources to risk management activities, identify and analyze new or changed risks, implement new or modified risk responses, and report the risk status and performance to the stakeholders based on the revised risk management plan1. References: 2, 1. When a project is accelerated, the risk landscape changes. The project risk manager should first revise the risk management plan to address the new timeline and its potential impacts on the project. This will help in identifying new risks, reassessing existing risks, and updating risk responses.

• Question 479:

  The project risk manager on a large firm fixed priced (FFP) contract has an up-to-date risk register with accurate and detailed information. What should the project risk manager do next?

  A. Recommend the removal of risks to the project manager to reduce project risk exposure.

  B. Advise the client that the project has exhausted contingency.

  C. Quantify the risk exposure that exceeds project contingency.

  D. Generate reports to assess and communicate the project risk level.

  Correct Answer: C

  Explanation: The project risk manager should generate reports to assess and communicate the project risk level to stakeholders. This helps in making informed decisions and taking appropriate actions to manage risks effectively. The project risk manager should quantify the risk exposure that exceeds project contingency, as this will help to determine the amount of management reserve needed to cover the potential cost overruns or schedule delays. The project risk manager should also communicate this information to the project manager and other relevant stakeholders, and update the risk management plan accordingly. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 80; PMBOK Guide, 6th edition, page 407.

• Question 480:

  The project manager has completed four projects all with similar scope. The project manager has recently been assigned to start on a new project and believes some risks may occur again on this project.

  What should the project manager do?

  A. Implement the risk response strategies into the risk plan.

  B. Inform the sponsor that these risks should be added according to experience.

  C. Add the risks to the risk register and determine a contingency.

  D. Discuss and evaluate the identified risks with the project team.

  Correct Answer: D

  Explanation: The project manager should discuss the identified risks with the project team to ensure that everyone is aware of the potential risks and can provide input on the likelihood and impact of each risk. This collaborative approach will help in developing a comprehensive risk management plan. The project manager should discuss and evaluate the identified risks with the project team, as this is part of the risk identification process. The project manager can use their experience from previous projects to identify potential risks that may occur again on the new project, but they should also involve the project team to obtain their input and perspectives. The project team can help the project manager to validate, refine, and prioritize the identified risks, as well as to suggest possible risk responses. The project manager should document the identified risks and their characteristics in the risk register, which is a tool for risk management. The other options are not appropriate actions for the project manager to take. Implementing the risk response strategies into the risk plan is premature, as the project manager should first analyze and evaluate the risks before deciding on the best response strategies. Informing the sponsor that these risks should be added according to experience is not sufficient, as the project manager should also consult the project team and other stakeholders to ensure that all relevant risks are identified and assessed. Adding the risks to the risk register and determining a contingency is part of the risk analysis and response planning processes, which come after the risk identification process. The project manager should first discuss and evaluate the identified risks with the project team before moving to the next steps of risk management. References: 2, 3, [5]