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| Certification Vendor: | PMI |
|---|---|
| Exam Name: | PMI Risk Management Professional Certification Exam |
| Exam Number: | PMI-RMP |
| Available Languages: | Arabic, English, Chinese (Simplified) |
| Passing Score: | Not published; scaled scoring, approx. 75% accuracy recommended |
| Real Exam Qty: | 115 (100 scored, 15 unscored pretest) |
| Related Certifications: | Program Management Professional (PgMP) PMI Agile Certified Practitioner (PMI-ACP) Project Management Professional (PMP) |
| Exam Format: | Computer-based, Scenario-based, Multiple-choice (single answer), Multiple-select (multiple answers) |
| Certificate Validity Period: | 3 years |
| Exam Duration: | 150 minutes |
| Exam Price: | $520 USD (PMI members), $670 USD (non-members) |
| Recommended Training: | PMI-RMP Official Exam Prep Course PMI-RMP Exam Content Outline |
| Exam Registration: | Pearson VUE Scheduling PMI Official Registration |
| Sample Questions: | PMI PMI-RMP Sample Questions |
| Exam Way: | Computer-based test at Pearson VUE centers or online proctored |
| Pre Condition: | Option 1: Secondary diploma + 36 months risk experience (last 5 years) + 40 hours risk education; Option 2: Bachelor's degree + 24 months risk experience (last 5 years) + 30 hours risk education; Option 3: Bachelor's from GAC-accredited program + 18 months risk experience (last 5 years) |
| Official Syllabus URL: | https://www.pmi.org/certifications/risk-management-rmp |
Actual4Exams provides a high-quality PMI PMI-RMP practice exam. The best feature of the PMI PMI-RMP exam dumps is that they are available in PDF and a web-based test format. PMI offer updated PMI PMI-RMP Exam products to our valuable customers. Real PMI PMI-RMP exam questions along with answers are being provided in two formats.
PMI-RMP (PMI Risk Management Professional) Certification Exam is a certification offered by the Project Management Institute (PMI) to professionals who specialize in risk management. PMI Risk Management Professional certification is designed to evaluate a candidate's knowledge and expertise in identifying, assessing, and managing project risks. PMI-RMP Certification holders are recognized for their ability to assess and mitigate risks, which is a valuable skill in project management.
NEW QUESTION # 114
Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others. What should the project manager do?
Answer: C
Explanation:
Explanation
The project manager should implement the risk handling strategies for the risks that occur more frequently, as this will help reduce their impact on the project and improve overall project performance.
NEW QUESTION # 115
A risk manager is assigned to a new system deployment project with a strict contractually agreed-on schedule.
One of the key risks identified is the availability of experts because many are shared on other strategic projects in the organization.
What should the risk manager do to address this situation?
Answer: D
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 call for a project team meeting to review risk strategies and make required adjustments, as needed, based on risk monitoring and reporting1. In this scenario, the risk manager should do this to address the situation of the availability of experts, which is a key risk for the project. The project team meeting will help the risk manager and the project team to evaluate the effectiveness of the current risk response plan, identify any new risks or changes in existing risks, and develop alternative risk strategies and actions to deal with the staffing issue. The project team meeting will also facilitate the communication and collaboration among the project team members and other stakeholders, and ensure that the project objectives and expectations are aligned. The risk manager should not implement a disciplined tracking method and report to stakeholders accordingly, because that is not a proactive risk response strategy, but rather a passive risk monitoring and reporting technique2. The risk manager should not escalate the staffing topic to the sponsor and request more budget for contingencies, because that is not a feasible or appropriate risk response strategy, as it does not address the root cause of the risk or provide a solution to the problem3. The risk manager should not revisit the project charter for scope adjustments and sign them off with the customer, because that is not a risk response strategy, but rather a scope management process that may have negative impacts on the project quality, cost, and schedule, and may violate the contractual agreement with the customer4. 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
4563: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page
4364: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 133.
NEW QUESTION # 116
The project manager performed' a variance analysis on the project during the execution phase. The variances were shown as increasing What does this result imply?
Answer: A
Explanation:
Explanation
Increasing variances during the execution phase imply that the uncertainty and risk are increasing, as the project performance is deviating from the planned values.
According to the PMBOK Guide - Sixth Edition1, variance analysis is a technique used to compare the actual performance of the project against the planned or expected performance. It can be applied to various aspects of the project, such as scope, schedule, cost, quality, and risk. Variance analysis can help identify deviations from the baseline and determine the causes and impacts of those deviations. If the variances are shown as increasing, it means that the actual performance is deviating more and more from the planned performance, which implies that the uncertainty and risk are increasing. This could affect the project objectives and deliverables, and require corrective or preventive actions to bring the project back on track. The other options are not correct, as they are either too specific (B and D) or contradictory to the result of the variance analysis. References: PMBOK Guide - Sixth Edition, pages 262-263.
NEW QUESTION # 117
The project's customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?
Answer: C
Explanation:
Explanation
The project manager should mitigate risks identified on the sensitivity analysis to ensure the P90 date is met.
Sensitivity analysis helps identify the most critical risks that have the potential to impact the project's completion date. By mitigating these risks, the project manager can increase the likelihood of meeting the P90 date.
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the P90 date is the date that has a 90% probability of being met or exceeded by the project completion1. The Monte Carlo analysis is a simulation technique that generates possible outcomes of the project schedule based on the probability distributions of the activity durations2. The sensitivity analysis is a technique that determines how different sources of uncertainty affect the project objectives, such as the completion date3. Therefore, the project manager should mitigate the risks identified on the sensitivity analysis, as they are the most likely to affect the P90 date. By reducing the uncertainty and variability of the project schedule, the project manager can increase the confidence level of meeting the P90 date.
References: 1: PMI, Practice Standard for Project Risk Management, 2009, p. 91 2: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 215 3: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 403
NEW QUESTION # 118
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: B
NEW QUESTION # 119
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