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PMI-RMP (Project Management Institute - Risk Management Professional) certification exam is a globally recognized credential for professionals who specialize in risk management. PMI Risk Management Professional certification is ideal for individuals who want to demonstrate their expertise in identifying and mitigating risks in a project environment. The PMI-RMP Certification Exam covers topics related to risk identification, analysis, response planning, and risk monitoring and control.

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Books and Courses to Launch PMI-RMP Prep

As for the reliable resources to start your PMI-RMP prep, here are 4 options you should check out in the first place:

Project Risk Management (Project Management) by Bruce BarkleyYou can get this helpful paperback book on Amazon for $46.82. It uses templates and action plans to simplify the concepts in one of the PMI’s most popular books: A Guide to the Project Management Body of Knowledge (PMBOK Guide).
PMI-RMP Exam Content Outline by Project Management InstituteThis is the official content outline for the final PMI-RMP test. It shows you all of the possible domains, from which the exam questions are derived. It also contains the percentage of questions for each topic and tasks you may be asked to carry out.
Practice Standard for Project Risk Management by Project Management InstituteThis book is another useful official resource for your test prep. It provides the standard practices and techniques needed for effective project risk management, most of which you will be tested on. Thus, with its help, you will familiarize yourself with such terms as iterative processes, current assessments, and templates.
Project Management Training at DeVry UniversityDeVry University is one of the PMI-authorized trainers. You can enroll in one of their project management courses to learn more about project risk management. One of the most prominent of DeVry University course options is Project Risk Management training, which is a great way to prepare for the upcoming PMI-RMP Exam.

PMI Risk Management Professional Sample Questions (Q253-Q258):

NEW QUESTION # 253
A risk manager has a well-structured risk management process in place for a complex project with a tight schedule. Despite implementing preventive actions, one of the risks identified in the early stages of the project has still occurred and is now an issue.
What should the risk manager do next?

A. Initiate discussions with the project manager to decide how to manage the problem.
B. Escalate the problem to the project sponsor to agree on the best course of action.
C. Implement the risk response plan to remedy the problem as soon as possible.
D. Meet with the project team to brainstorm potential solutions to the problem.

Answer: C

Explanation:
When a risk has materialized and become an issue despite preventive actions, the next logical step is to implement the pre-established risk response plan. This plan is designed specifically to address the risk if it occurs, ensuring that the project can quickly and effectively manage the issue. According to PMI's risk management guidelines, implementing the risk response plan is a critical step once a risk has been triggered, as it provides a structured approach to resolving the issue with minimal impact on the project.

NEW QUESTION # 254
A project team has completed plan risk response activities and has identified three critical risk response plans to major risk events. The responses have been monitored and implemented, with one of the responses presenting the two secondary risks.
What should the risk manager do next?

A. Assess the stakeholder register to determine the impact of initial risks.
B. Assess the impact of residual and secondary risks on project objectives.
C. Assess the risk register to ensure the secondary risks are realistic.
D. Assess the change log to establish that changes were implemented.

Answer: B

Explanation:
When secondary risks emerge from a risk response, the risk manager should assess the impact of these residual and secondary risks on the project's objectives. This step is crucial to understanding how these risks could affect the project's scope, time, cost, or quality, and to determine if additional risk responses are needed.
PMI's guidelines emphasize the importance of continually assessing risks, especially when they arise as a result of implemented risk responses.

NEW QUESTION # 255
During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.
Which action should the risk manager take to address this risk?

A. Accept the identified risk because other stakeholders feel that there are higher priority risks to address.
B. Escalate the identified risk to the project sponsor and allow them to determine the best course of action.
C. Add the identified risk to the risk register for future probability and impact analysis.
D. Mitigate the identified risk in order to reduce the probability of impacting the stakeholder ' s team.

Answer: C

NEW QUESTION # 256
CORRECT TEXT
Fill in the blank with an appropriate phrase. The _________ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied.

Answer:

Explanation:
residual risk

NEW QUESTION # 257
A project team has just completed a project plan, which includes extra days for most of the critical activities to cover any possible issues. Stakeholders want to remove these additional days, because the end date is longer than expected.
What should the risk manager do first?

A. Update the schedule constraints.
B. Review the risk response plan.
C. Update the risk contingency plan.
D. Remove the activity padding.

Answer: B

Explanation:
When stakeholders propose removing the extra days allocated to critical activities (often referred to as padding or contingency), it is crucial first to review the risk response plan. The risk response plan is designed to address how the project will handle uncertainties that might affect the project schedule. Removing these extra days without reviewing the risk response plan could expose the project to significant risks, especially if those days were added to mitigate specific identified risks.
According to PMI's Risk Management guidelines and best practices outlined in the project risk management procedures, the risk response plan should be reviewed first to understand the implications of removing the additional time. This step ensures that the decision is informed and that the project does not inadvertently increase its risk exposure by removing contingency that was strategically placed to address potential issues.
This approach aligns with the proactive management of risks, ensuring that any changes to the project schedule are made with a full understanding of their impact on the project's risk profile.

NEW QUESTION # 258
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