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PMI PMI-RMP Exam Syllabus Topics:

Section	Objectives
Risk Response Planning	- Opportunity Response Strategies - Threat Response Strategies
Risk Monitoring and Control	- Risk Reporting and Communication - Risk Audits and Reviews
Risk Identification	- Identifying Individual Risks - Overall Project Risk Identification
Risk Strategy and Planning	- Risk Management Planning - Stakeholder Engagement in Risk
Risk Analysis	- Quantitative Risk Analysis - Qualitative Risk Analysis

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PMI Risk Management Professional Sample Questions (Q67-Q72):

NEW QUESTION # 67
A risk manager of a complex project has identified a risk and believes a deeper understanding of the source and likelihood is necessary. How should the risk manager proceed?

A. Develop and employ an Ishikawa diagram
B. Create prompt lists for expert interviews
C. Analyze the assumptions and constraints
D. Perform a review of project documents

Answer: A

Explanation:
Explanation
An Ishikawa diagram (also known as a fishbone or cause-and-effect diagram) is a tool used to identify and analyze the root causes and sources of a risk. It helps the risk manager gain a deeper understanding of the risk source and likelihood. (Reference: PMBOK Guide, 6th Edition, p. 139) An Ishikawa diagram, also known as a fishbone diagram or a cause-and-effect diagram, is a tool that can help the risk manager to analyze the root causes of a risk and to identify the factors that influence its occurrence and impact. An Ishikawa diagram can also help to visualize the relationships among different causes and to prioritize the most significant ones. By developing and employing an Ishikawa diagram, the risk manager can gain a deeper understanding of the source and likelihood of the risk and plan appropriate responses accordingly. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 72; PMBOK Guide, 6th edition, page 398.

NEW QUESTION # 68
A risk manager monitors risks on a medium-sized project by collecting inputs and data from individual project team members. What output is produced by the risk manager after analyzing the information they receive?

A. Updated probability and impact matrix
B. Updated project schedule
C. Updated mitigation plans
D. Updated risk register

Answer: D

Explanation:
After analyzing the information collected from individual project team members, the risk manager's primary output is an updated risk register. The risk register is a key document in risk management, containing all identified risks, their analysis, and the planned responses. As new information is gathered and analyzed, the risk register is updated to reflect the current status of each risk, any changes in their probability or impact, and any adjustments to the risk response plans.
PMI emphasizes that the risk register should be continually updated throughout the project to ensure that all risks are properly managed and documented.

NEW QUESTION # 69
For the last several months, a project manager for a global technology program is focused on improving the project outsourcing process and analyzing the vendor supply chain as key pieces of the cost containment strategy. Early in the project, these two areas were identified as key risks to the final delivery of the project. Since that initial risk identification, the risk manager works to identify additional risks, as well as analyze the potential impact to the project cost baseline. After performing a cost-risk sensitivity analysis, the risk manager produces this chart.

Based on this analysis, which two risk areas should the project manager focus on to control project cost?

A. Vendor supply chain disruption and software design changes
B. Labor rate increases and management reviews
C. Vendor supply chain disruption and final system test
D. Outsourcing negotiations and vendor supply chain disruption

Answer: C

NEW QUESTION # 70
Elizabeth is a project manager for her organization and she finds risk management to be very difficult for her to manage. She asks you, a lead project manager, at what stage in the project will risk management become easier. What answer best resolves the difficulty of risk management practices and the effort required?

A. Risk management is an iterative process and never becomes easier.
B. Risk management only becomes easier the more often it is practiced.
C. Risk management only becomes easier when the project is closed.
D. Risk management only becomes easier when the project moves into project execution.

Answer: B

NEW QUESTION # 71
The project risk manager on a large firm fixed priced (FFP) contract has an up-to-date risk register with accurate and detailed information. What should the project risk manager do next?

A. Recommend the removal of risks to the project manager to reduce project risk exposure.
B. Quantify the risk exposure that exceeds project contingency.
C. Advise the client that the project has exhausted contingency.
D. Generate reports to assess and communicate the project risk level.

Answer: B

Explanation:
Explanation
The project risk manager should generate reports to assess and communicate the project risk level to stakeholders. This helps in making informed decisions and taking appropriate actions to manage risks effectively.
The project risk manager should quantify the risk exposure that exceeds project contingency, as this will help to determine the amount of management reserve needed to cover the potential cost overruns or schedule delays. The project risk manager should also communicate this information to the project manager and other relevant stakeholders, and update the risk management plan accordingly. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 80; PMBOK Guide, 6th edition, page 407.

NEW QUESTION # 72
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