PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 271:

  A key project is delayed and all contingency reserves have been used even though the project team has implemented all planned risk responses. What should the risk manager do next?

  A. Create a new project plan including the new risks.
  B. Review the effectiveness of the risk process.
  C. Update the risk management plan.
  D. Escalate the project risks to upper management.
  B. Review the effectiveness of the risk process.

• Question 272:

  Which of the following best describes the strength of the probability and impact matrix for qualitative risk analysis?

  A. It is well-suited to a decision tree analysis.
  B. It assists in handling other factors such as urgency and manageability that may partly determine the risk's ranking.
  C. It provides expert facilitators for the quantitative risk analysis.
  D. It reflects the organization's level of risk appetite.
  B. It assists in handling other factors such as urgency and manageability that may partly determine the risk's ranking.

• Question 273:

  

  The project manager has asked for the P50 estimate for the project schedule. What is the P50 estimate?

  A. 75 days
  B. 73.5 days
  C. 73 days
  D. 72.5 days
  C. 73 days

• Question 274:

  PESTLE, TECOP, and SPECTRUM are three examples of prompt lists that can be used during risk management activities. Prompt lists are used to do which of the following?

  A. Simulate risk identification.
  B. Perform a simulation with all prompted risks varying simultaneously.
  C. Identity basic causes of risks of more fundamental forces.
  D. Achieve the relative weighting of the risks.
  A. Simulate risk identification.

• Question 275:

  A project manager is creating a risk management plan. The project sponsor does not see the need for additional risk management, believing that the only risks to the project are financial risks. What procedure could the project manager use to identify other potential topics such as technical, quality, performance, project, management, internal and external risks?

  A. Review enterprise environmental factors.
  B. Perform Monte Carlo analysis and Delphi technique.
  C. Perform decision tree analysis and create an Ishikawa diagram.
  D. Use existing prompt lists and risk breakdown structure.
  D. Use existing prompt lists and risk breakdown structure.

• Question 276:

  You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a financial impact on the project of $450,000. This risk event has a 70 percent chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but it will cost $260,000 to implement. Management agrees with the solution and asks that you include the risk response in the project plan. What risk response is this?

  A. This is mitigation because the response reduces the probability.
  B. This is not a risk response, but a change request.
  C. This is transference because of the $260,000 cost of the solution.
  D. This is avoidance because the risk response caused the project plan to be changed.
  A. This is mitigation because the response reduces the probability.

• Question 277:

  A regional vendor for custom manufactured steel oil derricks, is awarded a contract to design, manufacture, and install 40 offshore oil platforms. Installation of these derricks requires precision placement and stable seas for the transport and installation ships to property install the deep water structure. There are several schedule and cost incentives for early completion, and the project manager asks the project risk coordinator to perform an analysis, which will predict the probability of meeting the incentive dates. While researching methods that could be used for performing this analysis, the risk manager realizes that there are readily available spreadsheets within the organization. The risk manager is considering performing a Method of Moments (PERT) analysis with software already owned, or the other option is to buy a commercial risk analysis software suite that will perform Latin Hypercube Monte Carlo simulations at a cost of US$975. What would be the best analytical option for this probability assessment?

  A. Schedule based Method of Moments analysis is a time proven, highly accurate method for schedule risk and is not impacted by Monte Carlo simulation's limitation of summation modeling where only addition and subtraction of uncertain values are used.
  B. The commercial product that performs the Monte Carlo simulations is the best option, because a schedule risk assessment involves summation of uncertainties added or subtracted from or to schedule dates.
  C. Because a schedule risk assessment involves multiplication and division of schedule durations against specific risk events, a spreadsheet and using a Method of Moments analysis is the best option.
  D. Since a schedule risk assessment involves multiplication and division of schedule durations against specific risk events, the Monte Carlo simulation software is the best option.
  B. The commercial product that performs the Monte Carlo simulations is the best option, because a schedule risk assessment involves summation of uncertainties added or subtracted from or to schedule dates.

• Question 278:

  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.
  A. The low probability and low impact risks should be added to a watchlist for future monitoring.

• Question 279:

  Which of the following is a key element of neuro-linguistic programming?

  A. Re-coding based on agile methodology
  B. Flex-scheduling
  C. Cross-training
  D. Building rapport with others
  A. Re-coding based on agile methodology

• Question 280:

  Jenny is the project manager of the NHJ Project for her company. She has identified several positive risk events within the project and she thinks these events can save the project time and money. You, a new team member wants to know that how many risk responses are available for a positive risk event. What will Jenny reply to you?

  A. Four
  B. Three
  C. Seven
  D. Acceptance is the only risk response for positive risk events.
  A. Four