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To qualify for the PMI-RMP exam, individuals must have a minimum of 4,500 hours of experience in risk management and 40 hours of project risk management education. Additionally, individuals must hold a secondary degree, such as a high school diploma or equivalent. PMI-RMP Exam itself consists of 170 multiple-choice questions and must be completed within a four-hour timeframe.

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PMI PMI-RMP certification exam is a highly respected and globally recognized certification in the field of risk management. It is designed for individuals who have experience in project risk management and are interested in developing and enhancing their risk management skills. PMI-RMP Exam covers a broad range of topics related to risk management, and individuals who successfully pass the exam will receive a certificate that is valid for three years.

PMI Risk Management Professional Sample Questions (Q320-Q325):

NEW QUESTION # 320
During the construction of a housing development, a project team realizes they exceeded their materials budget during the first of three execution stages. The risk manager observed that the team did not notice that the cost of the materials increased due to continuous inflation in the steel market.
What could have been done during project planning to avoid overspending?

A. Met weekly with the finance team to monitor the cost
B. Communicated with the stakeholders that the project costs might increase
C. Engaged with the sponsor to buy the steel in advance of the project
D. Properly documented the triggers and actions for the risk

Answer: D

NEW QUESTION # 321
Which of the following is an effective channel for risk mitigation assistance, project risk visibility and risk escalation support?

A. Board of directors
B. Project management office (PMO)
C. Change control board (CCB)
D. Project steering committee

Answer: C

NEW QUESTION # 322
At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response.
How should the project manager handle this situation?

A. Outsource conducting the risk response plan to risk consultants.
B. Coach the functional groups on how to properly conduct the process.
C. Adjust the risk response plans to effectively handle the identified risks.
D. Ask functional managers to improve their risk register and process.

Answer: B

Explanation:
Explanation
The project manager should provide guidance and coaching to the functional groups on how to properly identify and categorize risks. This will help improve the quality of the risk register and ensure an effective risk response plan can be developed.
The project manager should coach the functional groups on how to properly conduct the process of identifying and categorizing risks, as this will help to improve the quality and consistency of the risk information and to facilitate the development of an effective risk response plan. The project manager should also provide guidance and support on how to use the appropriate tools and techniques, such as risk breakdown structure, risk taxonomy, risk checklists, risk interviews, and risk workshops, to elicit and document the risks from different perspectives and sources. By coaching the functional groups, the project manager can also enhance their risk awareness and ownership, and foster a collaborative risk culture within the project. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 71-72; PMBOK Guide, 6th edition, page 397-398.

NEW QUESTION # 323
Which of the following components ensures that risks are examined for all new proposed change requests in the change control system?

A. Risk monitoring and control
B. Integrated change control
C. Configuration management
D. Scope change control

Answer: B

NEW QUESTION # 324
Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?

A. Wendy can review quality performance on baselines.
B. Wendy can determine a true project completion date.
C. Wendy can track the cost and schedule variances.
D. Wendy can forecast deviation of the project cost and schedule for completion targets.

Answer: D

NEW QUESTION # 325
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