Leading PMI-RMP Brain Dumps For PMI Risk Management Professional Certification

NEW QUESTION 1
You are the project manager of a large construction project. Part of the project involves the wiring of the electricity in the building your project is creating. You and the project team determine the electrical work is too dangerous to perform yourself so you hire an electrician to perform the work for the project. This is an example of what type of risk response?

• A. Acceptance
• B. Mitigation
• C. Transference
• D. Avoidance

Answer: C

NEW QUESTION 2
A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk
response is this?

• A. Exploit
• B. Mitigation
• C. Transference
• D. Avoidance

Answer: C

NEW QUESTION 3
Rachel is the project manager of the KJH Project for her company. She needs a method to create a quick and simple approach to risk identification to communicate the project risk with the stakeholders. Which one of the following approaches to risk identification should Rachel choose to provide a quick and simple listing of the project risks?

• A. Delphi Technique
• B. Checklist analysis
• C. Assumptions analysis
• D. Brainstorming

Answer: B

NEW QUESTION 4
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, regardless of their assessed impact and probability, are recorded in the risk log.
• C. 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.
• D. All risks are recorded in the risk management plan.

Answer: A

NEW QUESTION 5
You are the project manager of the BJA Project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000. Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time and cost additions to your project plan. What type of risk response is used?

• A. Avoidance
• B. Acceptance
• C. Exploit
• D. Mitigation

Answer: D

NEW QUESTION 6
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 all the risks that have yet to occur and what their probability of happening are.
• B. 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.
• C. 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.
• D. 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.

Answer: B

NEW QUESTION 7
Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

• A. Project risk can happen at any moment.
• B. Project risk happens throughout the project execution.
• C. Project risk is always in the future.
• D. Project risk is uncertain, so no one can predict when the event will happen.

Answer: C

NEW QUESTION 8
Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?

• A. The project scope statement must be understood to see the project requirements and the inherent risks of the project.
• B. The project scope statement will reveal the type of project as either a recurrent or first- of-its-kind project.
• C. The project scope identifies the risks associated with project constraints.
• D. The project scope statement must be reviewed to understand the quality requirements and the risks associated with the demand for quality.

Answer: B

NEW QUESTION 9
You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?

• A. It depends on how many risks are initially identified.
• B. At least once per month
• C. Identify risks is an iterative process.
• D. Several times until the project moves into execution

Answer: C

NEW QUESTION 10
Bill is the project manager for a project that will last six months and has a budget of $580,000. In this project a high-risk has been identified with the new materials the project will be using. Bill would like to assign one person, Beth, to be responsible to monitor this risk. Bill assigns Beth the authority to respond to the risk event if it appears in the risk events that is likely to happen. In addition, Bill hires a consultant to work with Beth on this area of the project. In this instance, who is the risk response owner?

• A. Bill, because he is the project manager
• B. Beth, because she has the authority to respond to the risk event
• C. Beth and the consultant are the risk owners
• D. The consultant working with Beth, because this is transference

Answer: B

NEW QUESTION 11
In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?

• A. Closing
• B. Planning
• C. Initiating
• D. Executing

Answer: C

NEW QUESTION 12
Frank is the project manager of the NHL Project for his company and he is starting the risk identification process for the project. Frank needs to ensure that the correct stakeholders are interviewed as part of risk identification. What document will help Frank to communicate and solicit inputs of the project stakeholders during risk identification?

• A. Project charter
• B. Risk register
• C. Requirements management plan
• D. Stakeholder register

Answer: D

NEW QUESTION 13
You are the project manager of the AFD project for your company. You are working with the project team to reassess existing risk events and to identify risk events that have not happened and whose relevancy to the project has passed. What should you do with these events that have not happened and would not happen now in the project?

• A. Add the risks to the risk register
• B. Add the risks to a low-priority watchlist
• C. Close the outdated risks
• D. Add the risk to the issues log

Answer: C

NEW QUESTION 14
You work as a project manager for BlueWell Inc. Your project is running late and you must respond to the risk. Which risk response can you choose that will also cause you to update the human resource management plan?

• A. Teaming agreements
• B. Transference
• C. Crashing the project
• D. Fast tracking the project

Answer: C

NEW QUESTION 15
Mark works as a project manager of the NNH project. In this project, he has created a contingency response that the cost performance index should be less than 0.91. The NHH project has a budget at completion of $950,000 and is 43 percent complete - though the project should be 50 percent complete. The project has spent $470,897 to reach the 43 percent complete milestone. What is the project's cost performance index?

• A. 0.95
• B. 0.80
• C. 0.87
• D. 0.91

Answer: C

NEW QUESTION 16
Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified a supplier who can create stained glass windows for 1,000 window units in the construction project. The supplier is an artist who works by himself, but creates windows for several companies throughout the United States. Management reviews the proposal to use this supplier and while they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units in time for the project's deadline. Management asked Harry to find a supplier who can fulfill the completion of the windows by the needed date in the schedule. What risk response has management asked Harry to implement?

• A. Mitigation
• B. Acceptance
• C. Avoidance
• D. Transference

Answer: A

NEW QUESTION 17
Jane is the project manager of the GBB project for her company. In the current project a vendor has offered the project a ten percent discount based if they will order 100 units for the project. It is possible that the GBB Project may need the 100 units, but the cost of the units is not a top priority for the project. Jane documents the offer and tells the vendor that they will keep the offer in mind and continue with the project as planned. What risk response has been given in this project?

• A. Acceptance
• B. Enhance
• C. Exploiting
• D. Sharing

Answer: A

NEW QUESTION 18
You are the project manager of the NHH Project for your company and you have completed the risk analysis processes for the risk events. You and the project team have created risk responses for most of the identified project risks. Now, you would like to assign risk owners to the events. Which risk events should have risk response owners?

• A. Only the risks with a high risk rating
• B. Each agreed-to and funded risk response should have a risk response owner
• C. Each risk that has a risk response should have a risk response owner
• D. Only the risk events that are considered a negative risk event with a high risk rating

Answer: B

NEW QUESTION 19
Sammy is the project manager for her organization. She would like to rate each risk based on its probability and affect on time, cost, and scope. Harry, a project team member, has never done this before and thinks Sammy is wrong to attempt this approach. Harry says that an accumulative risk score should be created, not three separate risk scores. Who is correct in this scenario?

• A. Harry is correct, because the risk probability and impact considers all objectives of the project.
• B. Harry is correct, the risk probability and impact matrix is the only approach to risk assessment.
• C. Sammy is correct, because organizations can create risk scores for each objective ofthe project.
• D. Sammy is correct, because she is the project manager.

Answer: C

NEW QUESTION 20
You are the project manager of the GHY project for your organization. You are about to start the qualitative risk analysis process for the project and you need to determine the roles and responsibilities for conducting risk management. Where can you find this information?

• A. Enterprise environmental factors
• B. Risk register
• C. Risk management plan
• D. Staffing management plan

Answer: C

NEW QUESTION 21
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