PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 71:

  A risk manager and relevant stakeholders have completed a risk response plan for a project. They have identified and planned responses to the known risks; however, a risk owner has identified and reported some residual risks not previously addressed.

  What should the risk manager do first?

  A. Develop a residual risk management plan to manage the residual risks.
  B. Analyze, document, and communicate the residual risks to stakeholders.
  C. Record the residual risks in the watch list for future reference.
  D. Implement the contingency plan when the residual risks occur.
  B. Analyze, document, and communicate the residual risks to stakeholders.

• Question 72:

  Your organization has a project that is expected to last 20 months but the customer would really like the project completed in 18 months. You have worked on similar projects in the past and believe that you could fast track the project and reach the 18 month deadline. What increases when you fast track a project?

  A. Resources
  B. Costs
  C. Communication
  D. Risks
  D. Risks

• Question 73:

  The expected monetary value of a project is above US$1 million. The risk manager is concerned about this situation, and decides to review the related plans and processes to evaluate the degree of variation from the baseline. Next, the risk manager needs to document the results of such an analysis.

  What is the best document for the project manager to reference to find out where the results of such an analysis should be documented?

  A. Communications management plan
  B. Issues log
  C. Risk management plan
  D. Lessons learned
  C. Risk management plan

• Question 74:

  Which of the following is an effective channel for risk mitigation assistance, project risk visibility and risk escalation support?

  A. Project steering committee
  B. Project management office (PMO)
  C. Change control board (CCB)
  D. Board of directors
  C. Change control board (CCB)

• Question 75:

  Mary is the project manager for the BLB project. She has instructed the project team to assemble, to review the risks. She has included the schedule management plan as an input for the quantitative risk analysis process. Why is the schedule management plan needed for quantitative risk analysis?

  A. Mary will schedule when the identified risks are likely to happen and affect the project schedule.
  B. Mary will utilize the schedule controls and the nature of the schedule for the quantitative analysis of the schedule.
  C. Mary will use the schedule management plan to schedule the risk identification meetings throughout the remaining project.
  D. Mary will utilize the schedule controls to determine how risks may be allowed to change the project schedule.
  B. Mary will utilize the schedule controls and the nature of the schedule for the quantitative analysis of the schedule.

• Question 76:

  Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?

  A. Government regulations, industry best practice templates, organizational standard processes, and competitor landscape
  B. Government regulations, industry standards, conditions of the marketplace, and competitor landscape
  C. Government regulations, risk categories, organizational standard processes, and competitor landscape
  D. Government regulations, human resource policies and procedures, organizational standard processes, and competitor landscape
  B. Government regulations, industry standards, conditions of the marketplace, and competitor landscape

• Question 77:

  Which of the following describes a difference between qualitative and quantitative risk analysis?

  A. Quantitative risk analysis addresses individual risks descriptively; qualitative risk analysis predicts likely project outcomes based on combined effects of risks.
  B. Quantitative risk analysis adds to the risk register, qualitative risk analysis leads to quantitative risk analysis.
  C. Quantitative risk analysis prioritizes individual risks for subsequent treatment, qualitative risk analysis leads to quantitative risk analysis.
  D. Qualitative risk analysis addresses individual risks descriptively; quantitative risk analysis predicts likely project outcomes based on combined effects of risks.
  D. Qualitative risk analysis addresses individual risks descriptively; quantitative risk analysis predicts likely project outcomes based on combined effects of risks.

• Question 78:

  During a meeting with a project team, a project manager asks a risk manager to determine the risk events that could potentially have the most impact on a 2-year project with a budget of US$800 000. Which approach should the risk manager suggest the project manager take?

  A. Sensitivity analysis
  B. simul-ation analysis
  C. Monte Carlo simul-ation
  D. Quantitative analysis
  A. Sensitivity analysis

• Question 79:

  You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?

  A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
  B. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
  C. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
  D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
  A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.

• Question 80:

  A risk manager is conducting a risk audit review at project completion. Which of the following represents the order that the steps should be performed to complete the full risk audit review?

  A. Identify participants, conduct risk meeting, document findings, update risk management plan
  B. Arrange risk audit review, identify participants, prepare recommendations, update risk management plan
  C. Identify participants, conduct risk audit reviews, prepare recommendations, document the risk audit report
  D. Prepare recommendations, identify participants, conduct risk audit reviews, document the risk audit report
  A. Identify participants, conduct risk meeting, document findings, update risk management plan