PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 361:

  A risk manager creates a survey for project stakeholders to obtain their opinions on high levels of risk. Key questions in the survey address acceptable levels of cost increases and schedule delays. What is the risk manager trying to determine?

  A. Risk urgency
  B. Risk exposure
  C. Risk threshold
  D. Risk attitude
  C. Risk threshold

• Question 362:

  Which of the following represents the best description of the role of project manager for project risk management?

  A. Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the risk management, assessing the impact of proposed scope changes
  B. Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the project management plan, participating in all aspects of the project risk management process
  C. Approving the risk management plan, participating in all aspects of the project risk management process, auditing the risk management processes in the project
  D. Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the risk management plan, participating in all aspects of the project risk management process
  B. Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the project management plan, participating in all aspects of the project risk management process

• Question 363:

  Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was a cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?

  A. Don would because he is the project manager.
  B. Jerry would because of the contract type.
  C. Don would because of the contract type.
  D. Jerry would because he is the hired contractor.
  C. Don would because of the contract type.

• Question 364:

  Eric is the project manager of the MTC project for his company. In this project a vendor has offered Eric a sizeable discount on all hardware if his order total for the project is more than $125,000. Right now, Eric is likely to spend $118,000 with vendor. If Eric spends $7,000 his cost savings for the project will be $12,500, but he cannot purchase hardware if he cannot implement the hardware immediately due to organizational policies. Eric consults with Amy and Allen, other project managers in the organization, and asks if she needs any hardware for their projects. Both Amy and Allen need hardware and they agree to purchase the hardware through Eric's relationship with the vendor. What positive risk response has happened in this instance?

  A. Sharing
  B. Exploiting
  C. Transference
  D. Enhancing
  A. Sharing

• Question 365:

  A high-profile, high-priority project within your organization is being created. Management wants you to pay special attention to the project risks and do all that you can to ensure that all of the risks are identified early in the project. Management has to ensure that this project succeeds. Management's risk aversion in this project is associated with what term?

  A. Quantitative risk analysis
  B. Risk conscience
  C. Risk mitigation
  D. Utility function
  D. Utility function

• Question 366:

  The risk manager is prioritizing risks based on the potential impact to cost and schedule and identifies the following 4 risks:

  Risk 1 has a US$500,000 potential cost increase, and a 60 day potential schedule slippage, with a 25% probability of occurring Risk 2 has a US$200,000 potential cost increase, and a 20 day potential schedule slippage, with a 60% probability of occurring Risk 3 has a US$1,200,000 potential cost increase, and a 90 day potential schedule slippage, with a 10% probability of occurring Risk 4 has @ US$600,000 potential cost increase, and a 70 day potential schedule slippage, with a 20% probability of occurring

  Using expected monetary value calculation, which risk has the greatest potential impact to cost and schedule?

  A. Risk 1
  B. Risk 2
  C. Risk 3
  D. Risk 4
  A. Risk 1

• Question 367:

  A project manager wants to work on understanding the project risks. The project manager works with the integrated project team to develop the risk handling strategies for the identified risks. How should the project manager work with these risk handling strategies?

  A. Review and revise the strategies periodically.
  B. Implement the strategies after completing the risk analysis.
  C. Implement the strategies immediately.
  D. Ensure the strategies are approved by the stakeholders.
  A. Review and revise the strategies periodically.

• Question 368:

  When performing integrated cost-schedule risk analysis, a risk manager must correlate the project costs and activities with the risk baseline. Why is determining correlation critical in performing this analysis?

  A. Correlation strength is determined by the strength of multiple risks affecting one cost or activity.
  B. Correlation is always negative in projects with high costs.
  C. Correlation implies causality between project costs and activities.
  D. Correlation identifies how each project risk affects project costs or activities.
  D. Correlation identifies how each project risk affects project costs or activities.

• Question 369:

  In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime. However, this action may lead to excessive additional cost.

  What should the risk manager do?

  A. Document the concern over the potential excessive additional cost.
  B. Manage the potential excessive additional cost as a new risk.
  C. Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.
  D. Prepare a detailed response plan for the residual risk with a clear owner and time line to ensure there are no impacts to the project.
  C. Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.

• Question 370:

  A risk manager recently had to take an unexpected leave of absence. An interim risk manager has been tasked with completing risk planning for a new project. The interim risk manager has been provided with a strength, weaknesses, opportunities, and threats (SWOT) analysis that was completed during a project kickoff meeting several weeks ago.

  What should the interim risk manager do to derive actionable risk responses from the SWOT analysis?

  A. Determine risks from the SWOT analysis and break them down into threats and opportunities.
  B. Work with the project sponsor to understand which items they would prioritize from the SWOT analysis.
  C. Conduct an extensive review with the project team to ensure all SWOT items can be mitigated or eliminated.
  D. Input the items identified on the SWOT analysis into the project's risk register for consideration as-is.
  A. Determine risks from the SWOT analysis and break them down into threats and opportunities.