PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 241:

  A project manager has requested the risk manager's support in deciding whether to purchase a new component to expedite project execution. The component price is US$100,000 and there is a 30% chance that it might not function as expected resulting in an additional US$50,000 cost However, if the component does work well the project will make a profit of USS500.000. If the component is not purchased, there is an 80% chance of failure with an impact of US$250 000.

  What should the risk manager recommend?

  A. The new component should be purchased.
  B. Both options are losses to the project.
  C. Cost to expedite the execution is not worth the added risk.
  D. Perform a Monte Carlo simul-ation to quantify the impacts.
  A. The new component should be purchased.

• Question 242:

  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 accepted.
  B. These risks should be placed on a watchlist for future monitoring.
  C. These risks should be identified, but dismissed.
  D. These risks should be placed in the risk register.
  B. These risks should be placed on a watchlist for future monitoring.

• Question 243:

  A risk manager has been assigned to a project in a company that is undergoing a significant cultural and organizational change. The risk manager will start planning risk management. activities with stakeholders but is unsure with whom to engage.

  What should the risk manager do?

  A. Assign a subset of stakeholders to work on the risk management process.
  B. Leverage the project manager's project stakeholder analysis.
  C. Agree with the project manager not to start risk activities.
  D. Send a communication inviting volunteers to join risk activities.
  B. Leverage the project manager's project stakeholder analysis.

• Question 244:

  You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review of each identified risk event?

  A. A risk probability-impact matrix
  B. Quantitative risk analysis
  C. Seven risk responses
  D. Qualitative risk analysis
  D. Qualitative risk analysis

• Question 245:

  When considering human factors and risk attitudes relative to the risk process, which approach should be used to influence the risk management process for optimal effects at the individual and group levels?

  A. Agile
  B. Reactive
  C. Ongoing
  D. Proactive
  D. Proactive

• Question 246:

  A risk manager for a financial organization is assigned to support a project team in developing a custom software solution to manage loans. Which document should the risk manager request first from the project sponsor to identify major risks?

  A. Risk management plan
  B. Clients' credit scores
  C. Organization's mission and vision
  D. Historical data from the credit portfolio
  A. Risk management plan

• Question 247:

  You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?

  A. Cause and effect diagrams
  B. System or process flow charts
  C. Predecessor and successor diagramming
  D. Influence diagrams
  A. Cause and effect diagrams

• Question 248:

  During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.

  Which tool should the project team use to determine this?

  A. Sensitivity analysis
  B. Threshold analysis
  C. Reserve analysis
  D. Strengths, weaknesses, opportunities, and threats (SWOT) analysis
  A. Sensitivity analysis

• Question 249:

  A cost analyst team member asks the project manager for the latest risk data for inclusion with the cost estimates for the project. Which tool should the cost analyst team member use to identify the probability of achieving specific cost targets?

  A. Monte Carlo analysis
  B. Decision tree analysis
  C. Analogous estimating
  D. Brainstorming
  A. Monte Carlo analysis

• Question 250:

  During the weekly project meeting a risk manager identified new risks in the last sprint, which might impact the project cost by implementing mitigation plans. The sponsor and some project team members do not agree that those risks can impact the project cost.

  What should the risk manager do to resolve the sponsor and project team members' concerns about risk identification?

  A. Reinforce to the stakeholders that the risk identification was done properly during the last sprint.
  B. Highlight the importance of agreeing on the risk identification to avoid further delays.
  C. Conduct a separate meeting to show the risk identification analysis to the stakeholders.
  D. Ensure that the most knowledgeable members of the team validate risk identification processes.
  D. Ensure that the most knowledgeable members of the team validate risk identification processes.