PMI-RMP EXAM DUMPS | PMI-RMP VALID TEST VCE FREE

PMI-RMP Exam Dumps | PMI-RMP Valid Test Vce Free

PMI-RMP Exam Dumps | PMI-RMP Valid Test Vce Free

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PMI-RMP certification exam is an essential certification for professionals who are responsible for managing risks within projects. It covers a wide range of topics related to risk management and project management and requires a significant amount of preparation. Achieving the PMI-RMP Certification can provide numerous benefits to professionals, including increased career opportunities, higher salaries, and enhanced credibility within their industry.

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PMI Risk Management Professional Sample Questions (Q162-Q167):

NEW QUESTION # 162
A new risk manager has been hired on a project and meets with the project director. The project director supplies the project's risk register and asks the risk manager for an analysis of its effectiveness.
What two actions should the risk manager do next? (Choose two.)

  • A. Check to ensure that the risks are gathered using Delphi technique.
  • B. Check to ensure that the risk is supported by a Monte Carlo simulation.
  • C. Check to ensure that risk origin, triggering event, and ownership is identified.
  • D. Check for risk classification and that probability and impact are identified.
  • E. Check to ensure the risk meeting agenda and supporting documents are distributed.

Answer: C,D

Explanation:
The risk manager should first check the risk register for proper risk classification, probability, and impact (C), as these are essential components of an effective risk management process. Next, the risk manager should ensure that the risk origin, triggering events, and ownership are identified (D), as this information helps in assigning responsibilities and taking appropriate actions for each risk. Reference to these steps can be found in the Project Management Institute's (PMI) A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition.
The risk manager should check for risk classification and that probability and impact are identified, as these are essential elements of a risk register. Risk classification helps to group risks into categories based on their sources, types, or impacts, which can facilitate risk analysis and response planning. Probability and impact are the two dimensions of risk assessment, which help to measure the likelihood and severity of a risk event, and to prioritize risks based on their significance. The risk manager should also check to ensure that risk origin, triggering event, and ownership is identified, as these are also important components of a risk register. Risk origin refers to the root cause or source of a risk, which can help to understand the nature and characteristics of a risk, and to devise effective risk responses. Triggering event is a specific occurrence or condition that indicates that a risk event has occurred or is about to occur, which can help to monitor and control risks. Ownership is the assignment of a risk to a person or a group who is responsible for managing the risk, which can help to ensure accountability and communication. The risk manager should not check to ensure that the risk is supported by a Monte Carlo simulation, as this is not a mandatory or universal requirement for a risk register. Monte Carlo simulation is a quantitative risk analysis technique that uses computer-generated random scenarios to model the possible outcomes of a project, based on the probability distributions of the input variables. While this technique can provide useful information about the overall project risk exposure and the probability of achieving project objectives, it is not a necessary or sufficient condition for an effective risk register. The risk manager should not check to ensure that the risks are gathered using Delphi technique, as this is also not a compulsory or exclusive requirement for a risk register. Delphi technique is a qualitative risk identification technique that uses a panel of experts to anonymously provide their opinions on potential risks, which are then aggregated and refined through a series of rounds until a consensus is reached. While this technique can help to elicit expert judgment and reduce bias, it is not the only or the best way to identify risks. The risk manager should not check to ensure the risk meeting agenda and supporting documents are distributed, as this is not a relevant or appropriate action for analyzing the effectiveness of a risk register. The risk meeting agenda and supporting documents are part of the risk management plan, which describes how the project team will conduct risk management activities, such as identifying, analyzing, responding, and monitoring risks. The risk meeting agenda and supporting documents are useful for planning and conducting risk meetings, but they are not part of the risk register, which is the output of the risk identification process and the input for the risk analysis and response processes. Reference: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition. Chapter 11: Project Risk Management, pp. 395-454. 5


NEW QUESTION # 163
A large, land-based infrastructure project has begun. The project makes assumptions about the site conditions and has economic, technical, and environmental constraints What should the project manager do next to determine risk impact of assumptions and constraints?

  • A. Add the risk impact of the assumptions in the risk register.
  • B. Add the assumptions and constraints in the project charter.
  • C. Add the assumptions and constraints to the assumption log.
  • D. Add all assumptions and constraints to the risk register.

Answer: C

Explanation:
The project manager should add the assumptions and constraints to the assumption log to track and analyze their impact on the project. The assumption log is a project document that records all project assumptions and constraints throughout the project life cycle. (Reference: PMBOK Guide, 6th Edition, p. 89) The project manager should add the assumptions and constraints to the assumption log, which is a project document that records the assumptions and constraints that affect the project scope, schedule, cost, and quality. The assumption log can help the project manager to identify and analyze the risks that may arise from the validity of the assumptions and the impact of the constraints. The assumption log can also be used as an input for the Identify Risks process, where the project manager can determine the risk impact of the assumptions and constraints and add them to the risk register accordingly. Reference: PMI, A Guide to the Project Management Body of Knowledge (PMBOKGuide), Sixth Edition, 2017, p. 38, 397.


NEW QUESTION # 164
Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?

  • A. The quantitative risk analysis process will analyze the effect of risk events that may substantially impact the project's competing demands.
  • B. The quantitative risk analysis reviews the results of risk identification and prepares the project for risk response management.
  • C. The quantitative risk analysis seeks to determine the true cost of each identified risk event and the probability of each risk event to determine the risk exposure.
  • D. The quantitative risk analysis process will review risk events for their probability and impact on the project objectives.

Answer: A


NEW QUESTION # 165
Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others. What should the project manager do?

  • A. Transfer ownership of those risks to the customer
  • B. Implement the risk handling strategies for those risks
  • C. Request additional management reserve for those risks
  • D. Reduce the probabilities of those risks on the risk register

Answer: C

Explanation:
The project manager should implement the risk handling strategies for the risks that occur more frequently, as this will help reduce their impact on the project and improve overall project performance.
Exploit is a positive risk response strategy that aims to ensure that the opportunity is realized 1. It involves eliminating the uncertainty associated with a particular upside risk and making it happen 2. For example, if there is an opportunity to reduce the project cost by using a cheaper supplier, the project manager can exploit it by signing a contract with the supplier and securing the savings. Exploit is the opposite of avoid, which is a negative risk response strategy that seeks to eliminate the threat or protect the project from its impact 2.
The other options are not appropriate for taking full advantage of opportunities. Mitigate is a negative risk response strategy that reduces the probability and/or impact of a threat 2. It is the opposite of enhance, which is a positive risk response strategy that increases the probability and/or impact of an opportunity 1. Accept is a risk response strategy that involves acknowledging the risk and not taking any action unless the risk occurs 2. It can be applied to both threats and opportunities, but it does not actively pursue them. Transfer is a negative risk response strategy that shifts the impact of a threat to a third party, along with ownership of the response 2. It is the opposite of share, which is a positive risk response strategy that allocates ownership of an opportunity to a third party who is best able to capture it for the benefit of the project 1.


NEW QUESTION # 166
A risk manager for a cross-functional project is initiating the risk identification process. The risk manager conducted some meetings for stakeholders to express their concerns, but some stakeholders are complaining that their opinions were not considered.
How should the risk manager address these concerns?

  • A. Refer to the requirements documentation to confirm stakeholder requirements as they relate to risks.
  • B. Refer to the project charter to find guidelines and stakeholder communication channels.
  • C. Rewrite the risk register to include the additional possible risks and inform the stakeholders.
  • D. Review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input.

Answer: D

Explanation:
According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain of Risk Identification is to review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input on risks throughout the project life cycle1. The stakeholder register is a project document that identifies the project stakeholders, their roles, interests, expectations, influence, and communication requirements2. The stakeholder engagement plan is a component of the project management plan that describes the strategies and actions to promote productive involvement of stakeholders in project decision making and execution3. In this scenario, the risk manager should review these documents to address the concerns of some stakeholders who are complaining that their opinions were not considered in the risk identification process. The risk manager should communicate with the stakeholders according to their preferences and needs, and solicit their input on the project risks using various tools and techniques, such as interviews, surveys, brainstorming, etc. The risk manager should also update the stakeholder register and stakeholder engagement plan as needed to reflect any changes in the stakeholder community or their expectations. The risk manager should not refer to the requirements documentation to confirm stakeholder requirements as they relate to risks, because that is not a direct way to address the stakeholders' concerns, and it may not capture all the potential risks that the stakeholders may identify4. The risk manager should not refer to the project charter to find guidelines and stakeholder communication channels, because the project charter is a high-level document that does not provide detailed information on how to communicate and engage with the stakeholders5. The risk manager should not rewrite the risk register to include the additional possible risks and inform the stakeholders, because that is a premature and presumptuous action that may not reflect the actual views and inputs of the stakeholders, and it may create more confusion and dissatisfaction among them6. References: 1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page 82: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 5133: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 5184: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 1525: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 776: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 414.


NEW QUESTION # 167
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