PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 291:

  A risk manager for a hospital extension project is leading a project team in developing a risk management plan. One team member is responsible for conducting risk identification. The team member just joined the team and is struggling to ensure the coverage of all risks that might arise in this complex project.

  How should the risk manager address this concern?

  A. Develop a risk breakdown structure {RBS) to identify possible risks.
  B. Develop a risk impact analysis to assess the consequences of possible risks
  C. Develop a probability and impact matrix to analyze possible risks.
  D. Create a risk register to capture and track possible risks.
  A. Develop a risk breakdown structure {RBS) to identify possible risks.

• Question 292:

  Which of the following should multicultural groups be aware of on a project relative to risk?

  A. Problematic risk management practice
  B. Multicultural beta risk management software
  C. Differences regarding risk attitudes and emotional literacy
  D. "Parent-child" risk relationships
  C. Differences regarding risk attitudes and emotional literacy

• Question 293:

  Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

  A. Project risk can happen at any moment.
  B. Project risk happens throughout the project execution.
  C. Project risk is always in the future.
  D. Project risk is uncertain, so no one can predict when the event will happen.
  C. Project risk is always in the future.

• Question 294:

  Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?

  A. Wendy can determine a true project completion date.
  B. Wendy can track the cost and schedule variances.
  C. Wendy can review quality performance on baselines.
  D. Wendy can forecast deviation of the project cost and schedule for completion targets.
  D. Wendy can forecast deviation of the project cost and schedule for completion targets.

• Question 295:

  Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?

  A. Resource management plan
  B. Project plan
  C. Project management plan
  D. Risk management plan
  D. Risk management plan

• Question 296:

  The company board is concerned about potential legal action from a high-risk project. What technique can be used to justify risk response decisions taken on this project?

  A. Interviews
  B. Nominal group technique
  C. Brainstorming
  D. Decision tree analysis
  D. Decision tree analysis

• Question 297:

  As per the risk analysis process carried out for a project, two risks are registered. The probability risk A will occur is 40% and its monetary impact to the project is US$100,000. The probability risk B will occur is 60% and its monetary impact to the project is US$20,000.

  What is the total contingency budget that should be created?

  A. US$68,000
  B. US$52,000
  C. US$120,000
  D. US$80,000
  A. US$68,000

• Question 298:

  Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?

  A. Quality and costs
  B. Cost and resource management
  C. Risk and project planning
  D. Costs and schedule
  D. Costs and schedule

• Question 299:

  

  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 properly install the deep water structure. It takes 65 days to transport the deep water structures for each platform from the manufacturing facility to the installation site at a cost of US$155,000 per day. The monsoon season runs from May to September each year and is a known risk for placement of the oil platforms. There is an incentive clause in the contract that will provide a USS1,500,000 payment, if all 40 platforms are in place and ready for use by 5 January 2016. What is the probability of receiving this incentive?

  A. 35.0%
  B. 42.9%
  C. 44.5%
  D. 47.5%
  D. 47.5%

• Question 300:

  During a project progress meeting, a project team member is concerned that one of the risks has triggered several other low-level risks. These risks should be responded to quickly or there will be severe consequences for the project deliverables.

  What should the risk manager do?

  A. Update the watchlist.
  B. Initiate a risk response when these risks occur.
  C. Address only the high-priority risk.
  D. Perform a risk urgency assessment.
  D. Perform a risk urgency assessment.