PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 621:

  You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?

  A. Create work breakdown structure process
  B. Plan risk management process
  C. Risk identification process
  D. Define scope process
  B. Plan risk management process

• Question 622:

  You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

  A. Some responses are designed for use only if certain events occur.
  B. Some responses have a cost and a time factor to consider for each risk event.
  C. Some responses must counteract pending risk events.
  D. Quantified risks should always have contingency responses.
  A. Some responses are designed for use only if certain events occur.

• Question 623:

  A project manager is developing the risk register and works with the team to analyze risks and determine their probability and impact. There is valuable historical data available that may be used to simulate the overall risk outcome. Which type of analysis should the project manager use in this instance?

  A. Check list analysis
  B. Cause and effect
  C. Specialized meeting
  D. Quantitative analysis
  D. Quantitative analysis

• Question 624:

  

  Very low = 1, Low = 2, Moderate = 3, High = 4, Very High = 5. A project manager must complete a report for a stakeholder who is concerned about the possibility of a funding shortfall. What is the most effective way to explain the risk to this stakeholder?

  A. The funding shortage is the lowest ranked/scored risk.
  B. The funding shortage is a significant risk.
  C. The funding shortage will have a very high impact on the project and is the highest priority.
  D. The funding shortage has a very low probability of occurring and is not a concern for the project.
  B. The funding shortage is a significant risk.

• Question 625:

  A new project to develop a custom software solution for a high-profile client is being initiated. The project sponsor emphasizes the importance of delivering the solution on time and within budget, as this project could lead to significant future opportunities. The risk manager recognizes that the team lacks a standardized approach to managing risks and that some team members are unfamiliar with risk management practices.

  What should the risk manager do?

  A. Ask the sponsor to define the risk strategy to align with client needs.
  B. Develop a framework and engage the team in creating a risk plan.
  C. Train the team on basic techniques and defer the risk strategy for later.
  D. Concentrate on high-priority risks to meet the sponsor's expectations.
  B. Develop a framework and engage the team in creating a risk plan.

• Question 626:

  At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response.

  How should the project manager handle this situation?

  A. Outsource conducting the risk response plan to risk consultants.
  B. Ask functional managers to improve their risk register and process.
  C. Adjust the risk response plans to effectively handle the identified risks.
  D. Coach the functional groups on how to properly conduct the process.
  D. Coach the functional groups on how to properly conduct the process.

• Question 627:

  Which types of project tends to have more well-understood risks?

  A. Operational work projects
  B. First-of-its kind technology projects
  C. Recurrent projects
  D. State-of-art technology projects
  C. Recurrent projects

• Question 628:

  ____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

  A. Expert judgment
  B. Expected monetary value
  C. Sensitivity
  D. Modeling and simulation
  B. Expected monetary value

• Question 629:

  Which of the following are parts of SWOT Analysis? Each correct answer represents a complete solution. Choose all that apply.

  A. Opportunities
  B. Tools
  C. Weaknesses
  D. Threats
  E. Strengths
  F. Optimism
  A. Opportunities
  C. Weaknesses
  D. Threats
  E. Strengths

• Question 630:

  What are the supporting elements for effective risk management?

  A. Trained core people, matrix organization, simple scalable process, and tools and techniques
  B. Competent people, collaborative organization, rigorous process, and tools and techniques
  C. Competent people, supportive organization, simple scalable process, and tools and techniques
  D. Competent people, functional organization, policy, and tools and techniques
  C. Competent people, supportive organization, simple scalable process, and tools and techniques