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PMI-RMP certification exam focuses on several key areas, including risk management planning, risk identification, risk analysis, risk response planning, and risk monitoring and control. PMI-RMP exam is designed to test the candidate's knowledge and proficiency in each of these areas, as well as their ability to apply risk management principles in real-world scenarios. By earning the PMI-RMP Certification, professionals can showcase their expertise in risk management and enhance their career prospects in project management.
>> PMI-RMP Real Exam Questions <<
This PMI Risk Management Professional (PMI-RMP) practice exam software is easy to use. A free demo version of this format is also available to assess it before buying. It is compatible with all Windows computers. This PMI PMI-RMP Practice Test software familiarizes you with the real PMI Risk Management Professional (PMI-RMP) exam pattern. You must have an active Internet connection to validate your product license.
To be eligible for the PMI-RMP Certification, a candidate must have a secondary degree, such as a high school diploma or an associate’s degree, along with 4,500 hours of project risk management experience and 40 hours of project risk management education. Alternatively, a candidate can have a four-year degree, along with 3,000 hours of project risk management experience and 30 hours of project risk management education.
NEW QUESTION # 197
A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a
50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue.
What should the risk manager do next to find out the correct limit?
Answer: B
Explanation:
The risk manager should review the agreed-upon risk tolerance to determine the correct limit for continuing construction based on the chance of rain. Risk tolerance is the level of risk an organization is willing to accept and should be established during the risk management planning process.
Risk tolerance is the degree of uncertainty that a stakeholder is willing to accept in respect to a negative outcome on a project objective. Risk tolerance can be expressed as a percentage, a range, a value, or a qualitative statement. Risk tolerance should be agreed upon by the project team and the stakeholders at the beginning of the project, and documented in the risk management plan. The risk manager should review the agreed-upon risk tolerance to find out the correct limit for the rain probability that would affect the construction activity. This would help to resolve the conflicting opinions of the stakeholders and ensure that the risk management decisions are aligned with the project objectives and expectations. Reviewing the agreed- upon risk tolerance is the best option among the choices given, as it is the most relevant and reliable source of information for the risk manager. Performing a sensitivity analysis, finding out the stakeholders' risk appetite, or using industry standard risk thresholds are not as effective or appropriate ways of finding out the correct limit, as they do not reflect the specific agreement and context of the project. References: PMI-RMP® Certification Handbook1, page 9; PMBOK® Guide, pages 414-415.
NEW QUESTION # 198
A risk facilitator is creating an outline for the risk management plan. To ensure alignment with the project's objectives, and to develop and recommend the project's risk strategy, what should be referenced to create this?
Answer: A
NEW QUESTION # 199
The project manager asks the risk manager to determine the initial risk assessment for a six month initiative that is about to kick-off. Which two artifacts will help the risk manager conduct the related analysis? (Choose two.)
Answer: C,E
Explanation:
According to the PMBOK Guide, one of the tools and techniques for the identify risks process is data gathering. Data gathering is the process of collecting information from various sources to identify potential risks that may affect the project objectives. One of the data gathering techniques is document analysis, which involves reviewing and analyzing available project documents and other information sources to identify potential risks1.
Two of the artifacts that will help the risk manager conduct the initial risk assessment for a six month initiative are the work breakdown structure (WBS) and the project organizational chart. These are two of the project documents that can be analyzed for potential risks in the project.
* The work breakdown structure (WBS) is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
The WBS represents the work defined in the current approved project scope statement and provides the framework for detailed cost estimating, resource planning, and risk management. By reviewing the WBS, the risk manager can identify potential risks that are associated with each work package, deliverable, or scope element, such as technical complexity, quality requirements, dependencies, assumptions, constraints, and uncertainties1.
* The project organizational chart is a graphical representation of the project team members and their reporting relationships. The project organizational chart depicts the roles and responsibilities of the project team, as well as the communication channels and authority levels among the team members and other stakeholders. By reviewing the project organizational chart, the risk manager can identify potential risks that are related to the project team structure, such as resource availability, skill gaps, team dynamics, stakeholder expectations, and conflict resolution1.
Some of the other options are not relevant or appropriate for the question scenario:
* The configuration management plan is a component of the project management plan that describes how the project team will manage the configuration of the project's deliverables and documentation. The configuration management plan defines the processes, tools, and methods for identifying, controlling, tracking, and auditing the changes to the project's baselines. The configuration management plan is not an artifact that will help the risk manager conduct the initial risk assessment, as it does not provide information on the potential risks that may affect the project objectives or scope1.
* Brainstorming is a technique for the identify risks process that involves generating a list of potential risks through a group discussion. Brainstorming is not an artifact, but rather a tool and technique for identifying risks. Brainstorming can help the risk manager conduct the initial risk assessment, but only after reviewing and analyzing the available project documents and information sources1.
* Monte Carlo analysis is a technique for the perform quantitative risk analysis process that involves simulating the combined effect of individual project risks and other sources of uncertainty on the project objectives, such as cost or schedule. Monte Carlo analysis is not an artifact, but rather a tool and technique for analyzing risks. Monte Carlo analysis can help the risk manager conduct the initial risk assessment, but only after identifying and prioritizing the individual project risks and their probability and impact1.
References: PMBOK Guide, 6th edition, pages 397-399, 414-415, 431-432, 441-442, 156-157, 168-169, 89-
901; PMI-RMP Exam Content Outline, 2015, page 7.
NEW QUESTION # 200
During which of the following processes, probability and impact matrix is prepared?
Answer: D
NEW QUESTION # 201
In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?
Answer: D
NEW QUESTION # 202
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