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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Identification | 23% | - Capture opportunities as well as threats - Apply identification techniques - Document risks and characteristics - Update risk register - Identify internal and external risks |
| Topic 2: Risk Response Planning | 13% | - Develop response strategies for threats and opportunities - Assign owners and responsibilities - Select appropriate response actions - Integrate responses into project plan |
| Topic 3: Risk Analysis | 23% | - Use simulation and modeling techniques - Perform quantitative risk analysis - Prioritize risks - Assess probability and impact - Perform qualitative risk analysis |
| Topic 4: Risk Monitoring and Reporting | 19% | - Capture lessons learned - Monitor identified risks and triggers - Communicate risk status to stakeholders - Update risk register and documents - Identify new and emerging risks - Track effectiveness of responses |
| Topic 5: Risk Strategy and Planning | 22% | - Align risk management with organizational and project objectives - Define risk appetite, threshold, and tolerance - Develop risk management strategy - Integrate risk management into project lifecycle - Create risk management plan |
>> PMI-RMP Test Questions Answers <<
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NEW QUESTION # 283
A risk manager has recently been assigned to a large cross-functional project that is already underway. While reviewing existing project artifacts, the risk manager discovers that risk-planning documents are incomplete and lack key information. Several risks have already occurred, and the project manager requests response guidance.
What should the risk manager do?
Answer: D
Explanation:
The project manager needs timely guidance because risks have already materialized, while the risk documentation must also be repaired. Option B balances both needs: provide the best currently available risk information for immediate decision-making and, in parallel, complete the risk register so the project can regain systematic control.
The point-in-time information should distinguish active issues from remaining risks, describe impacts, identify urgent actions, clarify owners, and note assumptions or information gaps. The risk manager should then document the full risk inventory, perform appropriate analysis, establish responses, and restore monitoring and reporting.
Using reserves or rebaselining is premature without an approved analysis and change-control process.
Escalating incomplete documentation may be necessary if it exceeds project authority, but it does not satisfy the immediate need for response guidance. Declaring the project off-track solely because documentation is incomplete does not address the realized risks.
The appropriate approach is therefore to support current decisions while rebuilding the risk-management information base.
Why the other options are not the best answers:
A). Reserve use and rebaselining require analysis, authority, and change control.
C). Escalation alone does not address the immediate operational need.
D). Changing project status is not a substitute for risk and issue management.
References:
PMI, PMBOK Guide-Sixth Edition, Sections 11.2, 11.6, and 11.7.
PMI, Practice Standard for Project Risk Management, guidance on risk documentation and response implementation.
PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, guidance on timely, decision- useful risk information.
NEW QUESTION # 284
David is the project manager of HGF project for his company. David, the project team, and several key stakeholders have completed risk identification and are ready to move into qualitative risk analysis. Tracy, a project team member, does not understand why they need to complete qualitative risk analysis. Which one of the following is the best explanation for completing qualitative risk analysis?
Answer: C
NEW QUESTION # 285
An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.
What is the current project risk exposure?
Answer: B
Explanation:
Explanation
The current project risk exposure can be calculated as follows: Risk A: 0.6 (probability) x US$50,000 (impact)
= US$30,000 Risk B (after response): 0.3 (probability) x US$60,000 (impact) = US$18,000 Total risk exposure: US$30,000 (Risk A) + US$18,000 (Risk B) = US$72,000
NEW QUESTION # 286
You are the project manager of the AFD project for your company. You are working with the project team to reassess existing risk events and to identify risk events that have not happened and whose relevancy to the project has passed. What should you do with these events that have not happened and would not happen now in the project?
Answer: C
NEW QUESTION # 287
Harry works as a project manager for BlueWell Inc. He is determining how to conduct the risk management activities for a project. According to the PMBOK, there are six inputs to the plan risk management process.
Which one of the following is NOT an input to this process?
Answer: B
NEW QUESTION # 288
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