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| Section | Weight | Objectives |
|---|---|---|
| Risk Response Planning | 13% | - Integrate responses into project plan - Develop response strategies for threats and opportunities - Select appropriate response actions - Assign owners and responsibilities |
| Risk Monitoring and Reporting | 19% | - Monitor identified risks and triggers - Track effectiveness of responses - Identify new and emerging risks - Update risk register and documents - Capture lessons learned - Communicate risk status to stakeholders |
| Risk Strategy and Planning | 22% | - Define risk appetite, threshold, and tolerance - Integrate risk management into project lifecycle - Develop risk management strategy - Create risk management plan - Align risk management with organizational and project objectives |
| Risk Analysis | 23% | - Prioritize risks - Use simulation and modeling techniques - Perform quantitative risk analysis - Assess probability and impact - Perform qualitative risk analysis |
| Risk Identification | 23% | - Apply identification techniques - Identify internal and external risks - Capture opportunities as well as threats - Document risks and characteristics - Update risk register |
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82. Frage
Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines?
Antwort: C
83. Frage
When processing freight invoices for a project, the project manager notices the shipping costs exceeded the budget due to increased fuel costs. The risk manager included this risk in the project's contingency allowance.
When reviewing the project budget execution reports, the project manager notices unused budget remaining in other closed tasks of the project that could cover the additional shipping costs.
What should the project manager do?
Antwort: C
Begründung:
The project's contingency allowance is a provision in the project budget that is intended to cover known risks that may affect the project costs. The risk of increased fuel costs was identified and included in the contingency allowance, so the project manager should use it to process the freight invoices at the actual shipping costs. This is the best way to handle the risk without affecting the project scope, schedule, or quality.
Requesting a formal change order from the customer (option B) is not necessary, as the project budget already has a provision for this risk. Processing the freight invoices for the budgeted amount and hoping the shipping company will forgive the difference (option C) is unethical and unprofessional, as it violates the terms of the contract and the PMI Code of Ethics and Professional Conduct. Asking the project sponsor to cover the additional shipping costs on the company's reserves account (option D) is also not appropriate, as the company's reserves are meant for unknown risks that are beyond the project's control, not for known risks that are already accounted for in the project budget. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 72; PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th ed., 2017, p. 252.
The project manager should use the contingency allowance to cover the additional shipping costs, as it was specifically included in the project budget for such risks. This approach avoids requesting unnecessary changes or relying on external sources to cover the cost overrun.
84. Frage
What is the purpose of mitigating negative risks as a part of the risk response process?
Antwort: B
85. Frage
A home solar panel project has many internal and external stakeholders including households, businesses, community groups, electric utility companies, local government officials, landlords, and investors. What should the project manager do when engaging stakeholders?
Antwort: A
Begründung:
The project manager should consider stakeholders' positions and opinions regarding the project's output when engaging stakeholders. This approach helps to address stakeholders' concerns, expectations, and potential objections, and it can lead to better decision-making and more successful project outcomes. It is important for the project manager to maintain open communication with stakeholders and to be responsive to their needs and perspectives.
According to the PMI Risk Management Professional (PMI-RMP)® Examination Content Outline, one of the tasks under the domain of stakeholder engagement is to "engage stakeholders by communicating with them to understand their positions and opinions regarding the project's output, and to ensure that their interests are considered in the risk management process" (Task 1.3). This implies that the project manager should consider stakeholders' perspectives and expectations when engaging them, and not ignore, exclude, or impose on them.
Therefore, option D is the correct answer.
Option A is incorrect because not all stakeholders need to be involved in the project's governance, which is the set of policies, processes, and procedures that define how the project is managed and controlled. The project's governance should be determined by the project sponsor and the project management office (PMO), and only include those stakeholders who have authority and responsibility for the project's success.
Option B is incorrect because communicating response strategies to all stakeholders is not a stakeholder engagement activity, but a risk communication activity. The project manager should communicate response strategies to the relevant stakeholders who are assigned to implement or monitor them, and not to all stakeholders indiscriminately.
Option C is incorrect because ignoring any risks beyond stakeholders' tolerance is not a stakeholder engagement activity, but a risk attitude activity. The project manager should identify and assess all risks that may affect the project's objectives, regardless of stakeholders' tolerance levels. The project manager should also consult with stakeholders to determine their risk appetite, threshold, and attitude, and use this information to prioritize and respond to risks accordingly.
References: PMI Risk Management Professional (PMI-RMP)® Examination Content Outline, pages 5-61
86. Frage
You are the project manager of the NHQ project for your company. Management has told you that you must implement an agreed upon contingency response if the Cost Performance Index in your project is less than 0.90. Consider that your project has a budget at completion of $250,000 and is 60 percent complete. You are scheduled to be however, 75 percent complete, and you have spent $165,000 to date. What is the Cost Performance Index for this project to determine if the contingency response should happen?
Antwort: B
87. Frage
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