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| Section | Objectives |
|---|---|
| Topic 1: Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Topic 2: Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
| Topic 3: Risk Identification | - Overall Project Risk Identification - Identifying Individual Risks |
| Topic 4: Risk Response Planning | - Opportunity Response Strategies - Threat Response Strategies |
| Topic 5: Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
>> PMI-RMP Valid Test Objectives <<
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NEW QUESTION # 149
The project is releasing deliverables in several phases, and a residual risk related to data inconsistencies has begun appearing in scattered test results. The impact is minor, but the risk is occurring more frequently as the project advances through later phases.
What should the risk manager do?
Answer: B
Explanation:
A residual risk is the exposure that remains after a response has been implemented. Although each observed data inconsistency has only a minor impact, the increasing frequency is a trend that may change the overall exposure or indicate that the existing response is losing effectiveness.
The risk manager should review the evidence with the team, reassess probability and aggregate impact, examine root causes, and determine whether monitoring thresholds, controls, or response actions need adjustment. The risk register and risk report should be updated accordingly.
Low individual impact does not justify disregarding a worsening pattern. Recording the occurrences as issues may be appropriate for each defect, but that action alone would not manage the underlying residual risk.
Waiting without analysis is passive and may allow the exposure to accumulate across later releases.
Therefore, a collaborative review and possible response adjustment is the appropriate action.
Why the other options are not the best answers:
A). Increasing frequency can make a low-impact risk material in aggregate.
B). Issue handling does not replace reassessment of the underlying residual risk.
D). Waiting ignores a clear adverse trend.
References:
PMI, PMBOK Guide-Sixth Edition, Section 11.7, Monitor Risks.
PMI, Practice Standard for Project Risk Management, guidance on residual risk and trend analysis.
PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, guidance on dynamic reassessment.
NEW QUESTION # 150
Gary is the project manager for his organization. He is working with the project stakeholders on the project requirements and how risks may affect their project. One of the stakeholders is confused about what constitutes risks in the project. Which of the following is the most accurate definition of a project risk?
Answer: B
NEW QUESTION # 151
You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?
Answer: A
NEW QUESTION # 152
Your project uses a piece of equipment that if the temperature of the machine goes above 450 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours. Should this machine overheat even once it will delay the project's end date. You work with your project to create a response that should the temperature of the machine reach 430, the machine will be paused for at least an hour to cool it down. The temperature of 430 is called what?
Answer: A
NEW QUESTION # 153
A certain risk is identified for a major project, and the risk response is planned. However, the analysis reveals a high probability for a secondary risk which will be tolerated based on the organization's risk thresholds. The secondary risk is subsequently registered. During project execution, the primary risk occurs, the planned action is taken, and the secondary risk emerges What two actions should the risk owner take? (Choose two.)
Answer: B,E
Explanation:
Explanation
The risk owner should implement the secondary risk response, as it is now being tolerated, and update the project documents accordingly. They should also update and communicate the assessments of the secondary risk's impact to ensure everyone is aware of the situation.
According to the PMI-RMP Handbook1, the risk owner is responsible for implementing the risk response plan and monitoring the risk and its secondary risks. Therefore, the risk owner should take the following two actions when the secondary risk emerges:
Implement the secondary risk response and update the project documents. This action is consistent with the risk response strategy of tolerance, which means accepting the risk and its consequences. The risk owner should execute the planned response for the secondary risk, such as contingency plans or fallback plans, and update the relevant project documents, such as the risk register, the risk report, and the lessons learned register, to reflect the current status and impact of the risk.
Update and communicate assessments of the secondary risk's impact. This action is consistent with the risk monitoring and control process, which involves tracking the identified risks, evaluating their impact and probability, and reporting the risk information to the appropriate stakeholders. The risk owner should reassess the secondary risk's impact on the project objectives, such as scope, schedule, cost, and quality, and communicate the results to the project manager and other relevant stakeholders, such as the sponsor, the customer, and the team members.
References:
PMI-RMP Handbook1
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management2
NEW QUESTION # 154
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