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| Certification Vendor: | PMI (Project Management Institute) |
|---|---|
| Exam Name: | PMI Risk Management Professional (PMI-RMP) Examination |
| Exam Number: | PMI-RMP |
| Exam Duration: | 150 minutes |
| Real Exam Qty: | 115 |
| Available Languages: | English |
| Certificate Validity Period: | 3 years |
| Exam Format: | Multiple Choice, Multiple Response, Matching, Drag and Drop, Hotspot |
| Passing Score: | Not disclosed (determined by psychometric analysis) |
| Exam Price: | USD 520 (non-member), USD 420 (PMI member) - subject to regional variation |
| Related Certifications: | PMI Program Management Professional (PgMP) PMI Project Management Professional (PMP) |
| Recommended Training: | PMI-RMP Exam Prep Resources PMI Authorized Training Partners (ATP) |
| Exam Registration: | PMI Certification Portal Pearson VUE Scheduling |
| Sample Questions: | PMI PMI-RMP Sample Questions |
| Exam Way: | Computer-based exam delivered via Pearson VUE (online proctored or test center) |
| Pre Condition: | Secondary degree (high school diploma, associate degree or global equivalent) + 36 months of project risk management experience within last 5 years OR four-year degree + 24 months of project risk management experience within last 5 years |
| Official Syllabus URL: | https://www.pmi.org/certifications/risk-management-rmp |
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Risk Planning and Strategy (19-20%)
NEW QUESTION # 15
The project manager and the risk manager of a new project to develop an application to support autonomous driving are meeting with the sponsor and key stakeholders to discuss the project. During the meeting, it is identified that the transport authority is discussing new traffic regulations for the industry that could be in place before the project ends.
How should the project manager and the risk manager handle this situation?
Answer: C
Explanation:
Meeting with the traffic authority staff responsible for the new regulation allows the project manager and risk manager to understand the potential changes and their impact on the project. This will help them proactively address any potential issues and ensure the project complies with the new regulations.
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, the project manager and the risk manager should handle this situation by meeting with the traffic authority staff in charge of the new regulation. This is because:
The new traffic regulation is an external risk that could affect the project objectives, such as scope, schedule, cost, quality, and customer satisfaction. External risks are those that arise from outside the project boundaries and are beyond the control of the project team. Examples of external risks include changes in government policies, regulations, laws, market conditions, environmental factors, etc.
The project manager and the risk manager should proactively engage with the external stakeholders who have the power and influence to create or modify the external risks. By meeting with the traffic authority staff, they can establish a positive relationship, gain insights into the new regulation, and influence its development to align with the project needs. They can also obtain information on the probability and impact of the risk, as well as the potential response strategies.
The other options are not effective in handling this situation because:
Ensuring the project complies with the current traffic regulations and laws does not address the risk of the new regulation that could change the project requirements, scope, or deliverables. It also does not help the project team to prepare for the possible changes and mitigate their negative effects.
Sending a letter to the traffic authority with the general project information does not establish a direct and timely communication channel with the external stakeholder. It also does not provide enough details or feedback to understand the nature and implications of the new regulation.
Performing inquiries on the website of the traffic authority weekly does not allow the project team to influence the development of the new regulation or obtain reliable and updated information. It also does not enable the project team to build trust and rapport with the external stakeholder.
Reference:
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
Risk Management Professional (PMI-RMP)Exam Cert Guide2
NEW QUESTION # 16
A risk manager for a cross-functional project is initiating the risk identification process. The risk manager conducted some meetings for stakeholders to express their concerns, but some stakeholders are complaining that their opinions were not considered.
How should the risk manager address these concerns?
Answer: A
Explanation:
Explanation
According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain of Risk Identification is to review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input on risks throughout the project life cycle1. The stakeholder register is a project document that identifies the project stakeholders, their roles, interests, expectations, influence, and communication requirements2. The stakeholder engagement plan is a component of the project management plan that describes the strategies and actions to promote productive involvement of stakeholders in project decision making and execution3. In this scenario, the risk manager should review these documents to address the concerns of some stakeholders who are complaining that their opinions were not considered in the risk identification process. The risk manager should communicate with the stakeholders according to their preferences and needs, and solicit their input on the project risks using various tools and techniques, such as interviews, surveys, brainstorming, etc. The risk manager should also update the stakeholder register and stakeholder engagement plan as needed to reflect any changes in the stakeholder community or their expectations. The risk manager should not refer to the requirements documentation to confirm stakeholder requirements as they relate to risks, because that is not a direct way to address the stakeholders' concerns, and it may not capture all the potential risks that the stakeholders may identify4. The risk manager should not refer to the project charter to find guidelines and stakeholder communication channels, because the project charter is a high-level document that does not provide detailed information on how to communicate and engage with the stakeholders5. The risk manager should not rewrite the risk register to include the additional possible risks and inform the stakeholders, because that is a premature and presumptuous action that may not reflect the actual views and inputs of the stakeholders, and it may create more confusion and dissatisfaction among them6. References: 1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page
82: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 5133:
A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 5184: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 1525: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 776: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 414.
NEW QUESTION # 17
ww Mary is a project manager in her organization. On her current project she is working with her project team and other key stakeholders to identify the risks within the project. She is currently aiming to create a comprehensive list of project risks so she is using a facilitator to help generate ideas about project risks. What risk identification method is Mary likely using?
Answer: C
NEW QUESTION # 18
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: A
NEW QUESTION # 19
You are the project manager of a large project that will last four years. In this project, you would like to model the risk based on its distribution, impact, and other factors. There are three modeling techniques that a project manager can use to include both event-oriented and project-oriented analysis. Which modeling technique does NOT provide event-oriented and project-oriented analysis for identified risks?
Answer: D
NEW QUESTION # 20
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