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PMI PMI-RMP Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Risk Response Planning	13%	- Integrate responses into project plan - Select appropriate response actions - Develop response strategies for threats and opportunities - Assign owners and responsibilities
Topic 2: Risk Monitoring and Reporting	19%	- Identify new and emerging risks - Monitor identified risks and triggers - Track effectiveness of responses - Update risk register and documents - Capture lessons learned - Communicate risk status to stakeholders
Topic 3: Risk Analysis	23%	- Use simulation and modeling techniques - Perform quantitative risk analysis - Assess probability and impact - Perform qualitative risk analysis - Prioritize risks
Topic 4: Risk Strategy and Planning	22%	- Integrate risk management into project lifecycle - Define risk appetite, threshold, and tolerance - Develop risk management strategy - Align risk management with organizational and project objectives - Create risk management plan
Topic 5: Risk Identification	23%	- Update risk register - Capture opportunities as well as threats - Apply identification techniques - Identify internal and external risks - Document risks and characteristics

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PMI Risk Management Professional Sample Questions (Q278-Q283):

NEW QUESTION # 278
Management has asked you to perform a risk audit and report back on the results. Bonny, a project team member asks you what a risk audit is. What do you tell Bonny?

A. A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process.
B. A risk audit is a review of all the risk probability and impact for the risks, which are still present in the project but which have not yet occurred.
C. A risk audit is an audit of all the risks that have occurred in the project and what their true impact on cost and time has been.
D. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are.

Answer: A

NEW QUESTION # 279
You are the project manager for your organization and you are working with Thomas, a project team member. You and Thomas have been working on a specific risk response for a probable risk event in the project. Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?

A. Risk coordinator
B. Risk expeditor
C. Risk team leader
D. Risk owner

Answer: D

NEW QUESTION # 280
A project manager has determined that they cannot outsource work nor eliminate the scope. They also discover that they cannot buy insurance or mitigate the risk.
What should the project manager do?

A. Ignore the risk
B. Transfer the risk
C. Accept the risk
D. Avoid the risk

Answer: C

Explanation:
Explanation
Since the project manager cannot avoid, transfer, or mitigate the risk, the only remaining option is to accept the risk and develop a contingency plan to handle it if it occurs.
According to the PMI-RMP Exam Content Outline1, one of the tools and techniques for risk response planning is risk response strategies. These are the actions that the project manager and the project team take to address the identified risks, either positive or negative. For negative risks or threats, the PMI-RMP Exam Content Outline1 lists four possible strategies: avoid, transfer, mitigate, and accept.
Avoid risk means changing the project plan to eliminate the threat or its impact2. For example, changing the scope, schedule, or budget to avoid a risk.
Transfer risk means shifting the impact of a threat to a third party, such as a contractor, vendor, or insurer2. For example, buying insurance, outsourcing, or using performance bonds to transfer a risk.
Mitigate risk means reducing the probability and/or impact of a threat2. For example, conducting more tests, adopting best practices, or providing training to mitigate a risk.
Accept risk means acknowledging the existence of a threat and being willing to deal with its consequences2. For example, doing nothing, establishing a contingency reserve, or developing a contingency plan to accept a risk.
In this question, the project manager has determined that they cannot outsource work (transfer) nor eliminate the scope (avoid). They also discover that they cannot buy insurance (transfer) or mitigate the risk. Therefore, the only remaining option is to accept the risk. Accepting the risk does not mean ignoring the risk, but rather recognizing it and preparing for its potential occurrence and impact. Therefore, the best answer is D.
References: 1: PMI-RMP Exam Content Outline, page 9. 2: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 443.

NEW QUESTION # 281
You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy's concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks that have low probability and low impact for future reference. What should you tell Nancy?

A. Risks with low probability and low impact are recorded in a watchlist for future monitoring.
B. All risks are recorded in the risk management plan.
C. All risks, regardless of their assessed impact and probability, are recorded in the risk log.
D. Risk identification is an iterative process so any changes to the low probability and low impact risks will be reassessed throughout the project life cycle.

Answer: A

Explanation:
Explanation/Reference:

NEW QUESTION # 282
What approach can a project manager use to improve the project's performance during qualitative risk analysis?

A. Focus on near-term risks first.
B. Create a risk breakdown structure and delegate the risk analysis to the appropriate project team members.
C. Analyze as many risks as possible regardless of who initiated the risk event.
D. Focus on high-priority risks.

Answer: D

NEW QUESTION # 283
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