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PMI-RMP Certification is a globally recognized certification that is designed to validate the knowledge and expertise of professionals in the field of risk management. PMI Risk Management Professional certification is offered by the Project Management Institute (PMI) and is targeted towards professionals who work in areas such as project management, business analysis, and risk management. The PMI-RMP Certification Exam is a rigorous exam that tests the knowledge and skills of candidates in the areas of risk management, risk identification, risk assessment, risk response, and risk monitoring.
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PMI-RMP (PMI Risk Management Professional) certification exam is an important credential for professionals who are involved in managing risks in their projects. The PMI-RMP Certification is offered by the Project Management Institute (PMI) and is globally recognized as a mark of excellence in risk management. PMI Risk Management Professional certification is designed to help professionals demonstrate their knowledge and skills in identifying, assessing, and mitigating project risks.
NEW QUESTION # 195
Which of the following characteristics would a risk-tolerant person or group demonstrate?
Answer: B
NEW QUESTION # 196
The project manager requests a method to analyze risk data in a simple format. Which of the following formats should the risk manager suggest for preliminary review of the data?
Answer: B
NEW QUESTION # 197
A risk manager is reviewing documentation for a project following a risk planning workshop with project stakeholders and team members. Several items have been identified on the risk log that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur.
Which response should the risk manager recommend for these risk items?
Answer: A
Explanation:
Explanation
According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain of Risk Response is to recommend risk response strategies based on the risk appetite and tolerance of the organization and stakeholders1. One of the strategies for negative risks or threats is risk acceptance, which involves acknowledging the existence of a threat and making a conscious decision to accept it without taking any action2. In this scenario, the risk manager should recommend risk acceptance for the risk items that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur. Risk acceptance is appropriate when the risk exposure is low, the cost of other responses is high, or the risk response is outside the scope or influence of the project3. The risk manager should not recommend risk mitigation, which involves reducing the probability and/or impact of a threat2. The risk manager should not recommend risk enhancement, which is a strategy for positive risks or opportunities, not negative risks or threats2. The risk manager should not recommend risk exploitation, which is also a strategy for positive risks or opportunities, not negative risks or threats2. References: 1: PMI Risk Management Professional (PMI-RMP Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 4363: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 437.
NEW QUESTION # 198
Some engineers are completing an activity that will alert the project team if there is a risk of requiring additional effort to complete the project. What should the risk manager do in case the trigger arises?
Answer: B
Explanation:
A contingency plan is pre-planned for specific risk triggers. When the trigger is observed, the contingency plan should be activated as specified. PMBOK Guide states:
"If a risk trigger occurs, the corresponding contingency plan or fallback plan should be implemented as documented in the risk response plan."
- PMBOK Guide, 6th Edition, Section 11.6
References:
PMBOK Guide, 6th Edition, Section 11.6
NEW QUESTION # 199
You are the project manager of the NNH Project. In this project you have created a contingency response that the schedule performance index should be less than 0.93. The NHH Project has a budget at completion of $945,000 and is 45 percent complete though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What is the project's schedule performance index?
Answer: D
NEW QUESTION # 200
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