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PMI-RMP PMI Risk Management Professional (PMI-RMP) Exam Questions and Answers

Questions 4

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?

Options:

A.

Include all stakeholders in the project's governance.

B.

Communicate response strategies to all stakeholders.

C.

Ignore any risks beyond stakeholders' tolerance.

D.

Consider stakeholders' positions and opinions regarding the project’s output.

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Questions 5

At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response.

How should the project manager handle this situation?

Options:

A.

Outsource conducting the risk response plan to risk consultants.

B.

Ask functional managers to improve their risk register and process.

C.

Adjust the risk response plans to effectively handle the identified risks.

D.

Coach the functional groups on how to properly conduct the process.

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Questions 6

A risk manager for a large project has completed documenting the risk management plan. The project is moving from planning to execution.

Which three actions should the risk manager take to ensure the risk management plan remains effective during the project timeframe? (Choose 3)

Options:

A.

Verify whether or not any identified risks might occur and implement the risk response plan.

B.

Regularly check and report on the status of risks identified according to their prioritization.

C.

Monitor the status and oversee execution of the risk response plan for each identified risk.

D.

Ensure management reserves are sufficient to cover the mitigation plans for all identified risks.

E.

Allocate and lock in project resources according to the initial risk prioritization for all identified risks.

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Questions 7

A certain risk is identified for a major project, and the risk response is planned. However, the analysis reveals a high probability for a secondary risk which will be tolerated based on the organization's risk thresholds. The secondary risk is subsequently registered. During project execution, the primary risk occurs, the planned action is taken, and the secondary risk emerges

What two actions should the risk owner take? (Choose two.)

Options:

A.

Implement the secondary risk response and update the project documents.

B.

Conduct meeting with all stakeholder to agree on post impact solutions.

C.

Set the corresponding trigger conditions to the secondary risk.

D.

Engage the project manager to authorize the secondary risk's response.

E.

Update and communicate assessments of the secondary risk's impact.

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Questions 8

The project sponsor asks the project manager about the accuracy of the project data. The project manager realizes that some risks have not been updated recently.

What should the project manager do regarding those risks?

Options:

A.

Review the assumptions analysts

B.

Conduct a checklist analysis on each risk

C.

Create a risk response plan for those risks

D.

Review the risk register to check for the new risks

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Questions 9

A project lihat was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up. the project manager is developing the risk planning for the project.

What three artifacts should the project manager consult or review during this process? (Choose three.)

Options:

A.

Project contracts

B.

Lessons learned registers from analogous projects

C.

Risk register

D.

Risk management plan

E.

Code of regulations

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Questions 10

A project team's manager is responsible for delivering a specific initiative for the organization. They are preparing for a monthly meeting where the manager will present on the current state of this initiative. The agile project lead sends the manager the following email with the current initiative status (Refer to the email exhibit).

PMI-RMP Question 10

PMI-RMP Question 10

PMI-RMP Question 10

How many total story points is the entire initiative?

Options:

A.

72

B.

60

C.

40

D.

32

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Questions 11

A risk manager documents the causes in the risk register and needs to ensure the risk is adequately described. What is critical for the risk manager to consider when describing the causes?

Options:

A.

Each cause has a degree of uncertainty

B.

Each cause has well defined owner

C.

The causes represent actual conditions

D.

The causes must be validated by the risk owner

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Questions 12

A key project is delayed and all contingency reserves have been used even though the project team has implemented all planned risk responses. What should the risk manager do next?

Options:

A.

Create a new project plan including the new risks.

B.

Review the effectiveness of the risk process.

C.

Update the risk management plan.

D.

Escalate the project risks to upper management. 

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Questions 13

A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.

What will be the main output of this meeting?

Options:

A.

Evaluating the project's probability of success

B.

Identifying threats and opportunities

C.

Evaluating the project's impact

D.

Performing a qualitative analysis

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Questions 14

A project has a significant impact on an organization. Multiple stakeholders expressed concerns regarding the overall project risk during construction of the risk management plan, and they agreed that the risk appetite is low.

What should the project risk manager monitor closely?

Options:

A.

Risk thresholds

B.

Risk response strategies

C.

Risk management reports

D.

Risk breakdown structure (RBS)

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Questions 15

A project manager of an IT company is assigned to a project whose schedule may be delayed due to a lack of resources to conclude the backlog activities. The project manager decides to hire additional developers to reduce the project's technical debt and meet the project deadline.

What should the risk manager advise the project manager to do to address this situation?

Options:

A.

Immediately hire as soon as the project begins to fall behind schedule.

B.

Hire as soon as the project metrics trigger a risk response.

C.

Only hire when it is economically feasible to do so.

D.

Only hire if risk response is escalated and approved by the stakeholders. 

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Questions 16

The risk manager notices that in their workshops, most of the risks identified are threats. What should the risk manager do to increase the number of opportunities identified?

Options:

A.

Use the Delphi technique involving experts who have identified opportunities in the past

B.

Interview more stakeholders who have a positive mindset

C.

Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis

D.

Conduct a political, economic, sociological, technological, legal, and environmental (PESTLE) analysis

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Questions 17

A two-year project with a budget of US$2 million has completed about 60% of the work at the end of the first year. The actual cost incurred to complete the remaining 40% of work is about USS1.5 million. As a part of performing a specialized risk analysis, the calculated schedule performance index (SPI) is 1.2 and cost performance index (CPI) is 0.53.

How should the risk manager interpret such a low CPI value?

Options:

A.

The cost control processes is ineffective.

B.

The cost baseline is inaccurate.

C.

The actual reported costs are inaccurate.

D.

The cost related risks are effectively managed.

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Questions 18

A risk manager is working on the risk management plan for a new digital platform and realizes the project sponsor, who is the IT manager, has not been invited to the project team meetings. The IT manager is concerned that the IT infrastructure is unable to host the new platform the team is creating. The risk manager asks the IT manager to be included in the meetings.

What should the IT manager's role be in the project team meetings?

Options:

A.

The IT manager should be included as a risk owner.

B.

The IT manager should refine the project baseline plans.

C.

The IT manager should be added as a project sponsor.

D.

The IT manager should lead the infrastructure execution.

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Questions 19

A risk manager has been assigned to a project in a company that is undergoing a significant cultural and organizational change. The risk manager will start planning risk management. activities with stakeholders but is unsure with whom to engage.

What should the risk manager do?

Options:

A.

Assign a subset of stakeholders to work on the risk management process.

B.

Leverage the project manager's project stakeholder analysis.

C.

Agree with the project manager not to start risk activities.

D.

Send a communication inviting volunteers to join risk activities.

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Questions 20

After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a 2-week delay in the project.

How could the risk manager have avoided the board's response?

Options:

A.

Engaging the key stakeholders during the prioritization process

B.

Prioritizing the risks based on the project sponsor's risk appetite

C.

Engaging with the project sponsor before presenting to the board

D.

Working with an established industry standard prioritization method

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Questions 21

A project team successfully implemented a risk response plan for a major risk event. Residual risks were evaluated and actions were taken to keep them under control. There were no secondary risks after the implementation.

What should the risk manager do?

Options:

A.

Study the change logs to implement the approved change requests.

B.

Close out the expired risk and update the relevant project documents.

C.

Get permission from stakeholders before documenting lessons learned.

D.

Continue monitoring the critical response plan on the delivered product.

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Questions 22

A company in the mining industry accommodates a lot of innovation and changing work conditions. Because of this, the company experiences difficulty in predicting long term business plans.

How should a professional risk manager manage the risks in such situations?

Options:

A.

Adopt a predictive approach to manage the risks.

B.

Adopt agile approaches to manage the risks.

C.

Utilize proper documentation to help manage the risks.

D.

Conduct weekly risk management meetings with all stakeholders.

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Questions 23

When approving the risk contingency budget for a project, the CEO notices each team has a different approach to report risks and their impacts. The CEO decides to create a new centralized risk management function to help resolve the problem.

How does centralizing the risk management function help resolve the problem?

Options:

A.

Enhance the process of identification of different Individual project risks.

B.

Allows monitoring the impact against the overall project risk exposure.

C.

Establishes risk sources and ownership for trigger monitoring.

D.

Creates a single repository for all project risk documents.

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Questions 24

A supplier Is delayed in delivering fuel for a project. The project manager anticipated this risk and is requesting fuel from another supplier. When speaking with the other supplier, a new risk appears because fulfilling the order will cause delays with several other projects.

After performing a detailed analysis, what should the risk manager do?

Options:

A.

Escalate the problem to the project sponsors.

B.

Execute the approved risk response plan.

C.

Negotiate with the supplier to resolve the problem.

D.

Assign a team member to update the issue leg.

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Questions 25

A project manager is trying to realize benefits from new material on an adaptive project. This is the first time the project team is using the material so the team does not have information to identify and analyze risks. A team member informs the project manager that a local university has recently published a research journal on the same material.

Where should the project manager find this information?

Options:

A.

Industrial studies

B.

Commercial risk databases

C.

Organizational process assets (OPAs)

D.

Enterprise environmental factors (EEFs)

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Questions 26

A risk manager of a complex project has identified a risk and believes a deeper understanding of the source and likelihood is necessary. How should the risk manager proceed?

Options:

A.

Develop and employ an Ishikawa diagram

B.

Analyze the assumptions and constraints

C.

Perform a review of project documents

D.

Create prompt lists for expert interviews

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Questions 27

A risk manager has been assigned to prepare a risk management plan for a new project. Which factor should the risk manager prioritize when tailoring the risk management processes for the new project?

Options:

A.

Available funds for risk management activities

B.

Size and duration of the project

C.

Maturity of the organization's risk management processes

D.

Number of stakeholders associated with the project

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Questions 28

During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk.

What should the risk manager do to handle this situation?

Options:

A.

Revisit this risk in the risk register and redefine the mitigation strategy.

B.

Activate the contingency plan to handle this risk during execution.

C.

Mark this new risk as an extremely high priority and inform all stakeholders.

D.

Ask the project sponsor for more budget to deal with this risk.

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Questions 29

A complex infrastructure construction project consisting of various stakeholders with diverse attitudes and opinions is in the execution phase. The project sponsor instructed the risk manager to evaluate the project environment and identify potential risks because many conflicts have arisen.

What should the risk manager do first?

Options:

A.

Perform an assumptions and constraints analysis.

B.

Use the Wideband Delphi method.

C.

Use the brainstorming technique.

D.

Perform a strength, weaknesses, opportunities, and threats (SWOT) analysis. 

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Questions 30

In the middle of a project to improve internal workflows, the team realizes that some previously identified challenges, such as lack of stakeholder engagement, have diminished. However, the risk manager determines that concerns related to resource availability and regulatory compliance are becoming more significant.

Which measures should the risk manager implement?

Options:

A.

Concentrate on monitoring only high-visibility risks to conserve resources.

B.

Focus on tracking the risks identified at the project's start to maintain consistency.

C.

Reassess risk priorities carefully and update the risk register on a regular basis.

D.

Delegate all monitoring responsibilities entirely to individual team members for efficiency.

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Questions 31

The risk manager conducted an updated Monte Carlo simul-ation for the project at the end of a phase. The simul-ation reveals a key activity is now on the critical path.

What recommendation should the risk manager make to the project manager?

Options:

A.

Add more float to the key activity

B.

Add more contingency to the project

C.

Review the plans for the key activity

D.

Increase the budget for the key activity

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Questions 32

A project team has failed to complete an important project milestone on time. The team was counting on an external provider to deliver key equipment on a specific date but the provider was delayed.

What should the risk manager have done to prevent missing the milestone?

Options:

A.

Better schedule monitoring and controlling.

B.

Identify and analyze project plan assumptions.

C.

Have a detailed work breakdown structure (WBS).

D.

Use management reserves to cover delays.

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Questions 33

There is a debate within the organization on whether projects need to be agile or waterfall. Some agile terms and principles are understood differently by the key stakeholders, and this delays the decision-making process.

Options:

A.

Organize training sessions to create awareness around the agile values for stakeholders.

B.

Facilitate a face-to-face discussion and have stakeholders agree to shift to agile for future projects.

C.

Recommend an external facilitator as no one in the organization is able to eliminate this roadblock.

D.

Allow stakeholders to discuss without the scrum master's intervention.

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Questions 34

A risk manager completed risk response planning for a project that is currently in the execution phase. During a periodic review of the risk register, the project manager recognizes that some key secondary risks have not been considered.

Who should the project manager hold accountable for missing the risks?

Options:

A.

The audit team

B.

The risk manager

C.

The risk owners

D.

The discipline engineers

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Questions 35

An organization is executing two projects — Project A and Project B — simultaneously. A previously identified risk will impact the schedule for Project A. While executing the mitigation plan, a number of residual risks are identified that could provide cost savings for Project B.

Which action should the risk manager for Project A take?

Options:

A.

Review the findings in Project A's closure documents and propose a new organizational process for portfolio risk management.

B.

Consult with Project B's risk manager and determine where synergies might exist between the risk management plans for both projects.

C.

Combine the risk registers for Project A and Project B and determine if there are any additional cross-project opportunities to exploit.

D.

Continue executing the planned risk mitigation to avoid any additional schedule impact to Project A.

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Questions 36

A risk manager has been assigned to replace a risk manager on sick leave. The new risk manager notices that the risk register is missing data that are key to the risk management process.

Which data will the risk manager require first?

Options:

A.

Risk description risk response, and quantitative data

B.

Project plan, risk complexity, and secondary risk

C.

Project plan, risk priority, and tool availability

D.

Risk description, risk probability, and risk impact 

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Questions 37

The risk manager for an IT project developing a software application has a major stakeholder concerned that the project will not conclude within the available funding. The risk manager found delays in the iterations and increments in the project's budget, potentially increasing the duration by two weeks.

What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?

Options:

A.

Stakeholder management and communication tools

B.

Team performance reports and analysis tools

C.

Schedule management tools (i.e., Gantt Charts)

D.

Estimation and probability analysis tools (i.e. Monte Carlo simul-ations) 

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Questions 38

A risk manager reviews a Monte Carlo schedule risk analysis model before sharing the results with the project manager. The risk manager notices that activity correlations were not included in the model.

What is an effect of adding the correlation to the model?

Options:

A.

Allows more risks to be included in the model.

B.

Reduces the project completion duration.

C.

Increases the standard deviation of the model.

D.

Increases the probability of correlated activities finishing on time.

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Questions 39

During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?

Options:

A.

Contact the risk managers of the other projects and inform them

B.

Include an escalation process in the risk management plan

C.

Take note of the extensive impact of these risks in the risk register

D.

Address the unique characteristics of these risks on a case-by-case basis

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Questions 40

In the middle of a construction project, the primary construction materials provider canceled the contract and moved to a competitor offering a higher price. The risk manager considers

this a low-impact issue because many construction materials providers can fulfill the project demands. However, after informing the stakeholders of this issue, the major investor is about

to drop their intention to continue executing the project. The risk manager does not understand their decision.

What should the risk manager do next to understand the major stakeholder's decision regarding the project?

Options:

A.

Perform a risk impact analysis.

B.

Perform a risk reserve analysis.

C.

Perform a procurement analysis.

D.

Perform a stakeholder impact and influence analysis.

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Questions 41

A risk manager is assigned to a mobile network deployment project with a strict contractually agreed-on schedule. One of the key risks identified has materialized. There is insufficient staffing because critical resources are dedicated to strategic projects in the organization. The risk manager expected the resource manager to notice this, but the resource manager thought the project experts would be alerting the team during the project.

What should the risk manager do to prevent this from happening again?

Options:

A.

Document the risks and response actions in a clear manner.

B.

Communicate with the project manager on the topic.

C.

Assign owners who will be fully accountable to managing the risks.

D.

Define the response plans and take the lead in implementing them.

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Questions 42

A risk manager of a major project facilitates a meeting to develop the risk management plan. What two factors does the risk manager need to consider to ensure an effective risk management plan is developed? (Choose two.)

Options:

A.

Applying modern risk management techniques.

B.

Aligning to project constraints and priorities.

C.

Ensuring risk response strategies mitigate all risks.

D.

Minimizing implementation costs.

E.

Obtaining stakeholder acceptance

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Questions 43

A project team is concerned about a risk which, if occurs, might add additional complexity to their work. The team will need help from an external vendor, but the contracting process is long.

What should the risk manager do in this case?

Options:

A.

Document the risk in the risk register for analysis.

B.

Document the detailed risk consequences,

C.

Immediately start the contracting process.

D.

Proceed with the quantitative risk analysis. 

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Questions 44

A risk manager is collaborating with project stakeholders and the project team to identify risks in a construction project. The risk manager intends to use an approach that engages stakeholders based on information, such as scope baseline and project estimates, while also determining risk impacts based on this approach.

Which risk identification approach should the risk manager use to achieve this goal?

Options:

A.

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

B.

Brainstorming technique

C.

Delphi technique

D.

Assumptions and constraints analysis

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Questions 45

The project’s customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?

Options:

A.

Update the assumptions/exclusions register

B.

Hire more resources and crash the schedule

C.

Perform a qualitative risk analysis for the project

D.

Mitigate risks identified on the sensitivity analysis

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Questions 46

A project team identifies that there is a probability of missing a key milestone in a project. The team wants to move forward with the risk response planning.

What should the risk manager complete first?

Options:

A.

The risk categorization

B.

The risk simul-ation

C.

The full risk description

D.

The risk response plan

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Questions 47

When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

Options:

A.

Request a contingency reserve from management

B.

Arrange a team meeting, review the project's scope, and discuss dependency mapping

C.

Ensure participants review relevant documents before attending the meeting

D.

Ensure that all the relevant stakeholders participate

E.

Update the risk register during the team meeting.

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Questions 48

A new vice president in one of its divisions observed that the portfolio of projects within their division experienced significant variations beyond the ±10% established threshold with the potential of not achieving its overall business goals. Hence, they directed all project leaders and sponsors to ensure that they set and work toward more stringent thresholds of ±5% and reports on the basis of any variance outside that range.

How should the risk manager respond?

Options:

A.

Assess the impacts of this change but do nothing as the project is still within the enterprise-wide threshold.

B.

Assess and modify the project risk management plan in response to the new directive.

C.

Accept project risks since it is already within the enterprise-wide threshold.

D.

Advise that the decision could increase the risk of their portfolio exponentially.

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Questions 49

A new risk manager has been hired on a project and meets with the project director. The project director supplies the project's risk register and asks the risk manager for an analysis of its effectiveness.

What two actions should the risk manager do next? (Choose two.)

Options:

A.

Check to ensure that the risk is supported by a Monte Carlo simul-ation.

B.

Check to ensure that the risks are gathered using Delphi technique.

C.

Check for risk classification and that probability and impact are identified.

D.

Check to ensure that risk origin, triggering event, and ownership is identified.

E.

Check to ensure the risk meeting agenda and supporting documents are distributed.

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Questions 50

During the monthly executive review meeting, the project sponsor would like to understand how the project team has planned to manage risks that were identified in the last meeting. What should the project manager do?

Options:

A.

Utilize a Monte Carlo assessment to provide risk related impacts.

B.

React to the secondary and residual risks only if they occur.

C.

Include secondary and residual risks as part of the response.

D.

Transfer secondary and residual risks to the project sponsor.

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Questions 51

During a risk reassessment workshop with the project team and some external stakeholders, two key external stakeholders are overemphasizing the impact of a few project risks. This has led to a conflict.

How should the risk manager handle this situation?

Options:

A.

Request for a skilled facilitator to help resolve conflicts that have arise.

B.

Refer to the team’s ground rules on how to resolve conflicts.

C.

Run a sensitivity analysis to check which risks have the most impact.

D.

Use the assumption analysis techniques to validate the assumptions.

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Questions 52

In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.

What should the risk manager do?

Options:

A.

Update the risk register accordingly and review it in regular project meetings.

B.

Accept the risk because residual risks are often low.

C.

Ask a subject matter expert (SME) to assess the residual risk and take action.

D.

Assign a risk owner and set it as high priority and high impact.

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Questions 53

A risk manager for a hospital extension project is leading a project team in developing a risk management plan. One team member is responsible for conducting risk identification. The team member just joined the team and is struggling to ensure the coverage of all risks that might arise in this complex project.

How should the risk manager address this concern?

Options:

A.

Develop a risk breakdown structure {RBS) to identify possible risks.

B.

Develop a risk impact analysis to assess the consequences of possible risks

C.

Develop a probability and impact matrix to analyze possible risks.

D.

Create a risk register to capture and track possible risks. 

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Questions 54

A project team identified some risks in a project. Team members became interested in predicting the outcomes of their potential choices following their probability of occurrence.

Which technique should the risk manager use?

Options:

A.

Political, economic, social, technological, legal, and environmental (PESTLE) analysis

B.

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

C.

Decision tree analysis

D.

Cost-benefit analysis

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Questions 55

A company manages confidential customer information, and a data breach exposing sensitive information was discovered. What should the risk manager do?

Options:

A.

Execute the security risks contingency plan.

B.

Get a report of customers affected by the risk.

C.

Identify residual and secondary risks.

D.

Coordinate a response with the risk owner.

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Questions 56

A risk manager and project team are managing a software system project, which is expected to be completed within 12 months. The project is currently halfway through, and the team has just delivered the second version of the prototype. During the weekly status meeting, a team member reported that an important stakeholder is facing an issue, which will likely result in a change request that is outside the scope of the current prototype.

What should the risk manager advise the team to do first?

Options:

A.

Mitigate the risk by asking the team member to gather more information.

B.

Add the risk to the issue log and revisit it when there is more information.

C.

Arrange a meeting with the stakeholder to discuss the risk and information.

D.

Add the risk to the risk register and gather information about its probability and impact. 

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Questions 57

A risk manager has to inform a project sponsor of the expected duration of an entire project. The project has three mam tasks, each with different probabilities of duration.

Which analytical tool should the risk manager use?

Options:

A.

Probability tree diagram

B.

Ishikawa diagram

C.

Decision tree analysis

D.

Monte Carlo simul-ation

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Questions 58

in a complex and critical project, a sponsor asks the risk manager to determine where the project's concentration of risks is greatest by performing a quantitative risk analysis. There are no organizational process assets (OPAs)s about the risk categories.

Which tool could the risk manager use to discover the project risk categories?

Options:

A.

Work breakdown structure (WBS)

B.

Affinity diagram

C.

Monte Carlo simul-ation

D.

Mind mapping

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Questions 59

The project team has correctly identified, assessed, and planned responses for a project's risks. The risk manager is required to prepare a quarterly report on the performance of managing the risks.

What are two options the risk manager should consult for the analysis? (Choose two.)

Options:

A.

Proximity dales for open risks

B.

Backlog of change orders to be submitted to client

C.

Risks that have materialized and the overall risk profile

D.

Number of schedule baseline changes approved

E.

Risks due to the number of claims submitted to the client

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Questions 60

After the initial assessment of a new project, a project manager found that in order to complete the expected results, detailed and exhaustive planning will be required to ensure the product's characteristics and quality. What should the risk manager propose to the project manager what to do?

Options:

A.

Use a predictive approach for the delivery.

B.

Use a hybrid approach for the delivery.

C.

Use an adaptive approach for the delivery.

D.

Use an agile approach for the delivery. 

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Questions 61

A project manager managing a high-risk rating project was just informed that one of the key project resources has decided to leave the organization. The project manager asks the risk manager for their recommendations. The risk manager previously identified this as a risk and had created a transition plan to enable another resource to carry out the same duties. The risk manager was informed that by transitioning the responsibilities to the new resource, new risks to the completion dates of other project-related tasks appear.

What should the risk manager advise the project manager?

Options:

A.

Escalate the new risks immediately to the project stakeholders to ensure proper risk communication is in place.

B.

Address these secondary risks as per the risk management plan

C.

Apply a risk acceptance strategy to the new risks as there is no risk response plan.

D.

Update the risk management plan with the new probabily/impact and change the response.

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Questions 62

An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.

What is the current project risk exposure?

Options:

A.

US$18,000

B.

US$72.000

C.

US$30,000

D.

US$48,000

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Questions 63

A project's design has been completed and approved on time. The construction subcontractor should be mobilizing to start construction but does not have the necessary materials in place, causing a delaying in the project. The risk register only contains risks for the design phase of the project.

What should the project manager have done differently?

Options:

A.

Executed the Monte Carlo sensitivity analysis prior to mobilization

B.

Added generic construction risks to the risk register before construction began

C.

Reviewed the assumptions/exclusions register in the project charter

D.

Performed risk identification exercises for the full lifecycle of the project

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Questions 64

A project manager for a predictive project just received a scope change request where additional development is required. What should the risk manager do to support the project manager with this scope change request?

Options:

A.

Evaluate any new risks that are introduced due to the change in scope.

B.

Update the risk management plan to reflect the scope change.

C.

Reassess the identified risks that impact the project scope.

D.

Update the risk register to identify, analyze, and plan a response for any new risk.

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Questions 65

A project manager has finished the project charter for a project and has now moved into the planning phase. In the first planning meeting, the project manager is trying to determine the risk tolerance and risk attitudes of the project's key stakeholders.

What is the first resource the project manager should reference?

Options:

A.

Benefits management plan

B.

Enterprise environmental factors (EEFs)

C.

Project charter

D.

Requirements management plan

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Questions 66

An experienced and the only developer on a software implementation project will be on leave for several weeks. The risk of this critical resource's availability was added to the risk register. Contingencies were made for a support developer to job shadow this resource, depending on how things go prior to their leave. The project team was pleased with the backup plan and the new resource was able to shadow for a few weeks.

What should the risk manager do next?

Options:

A.

Update the risk register to indicate the risk has occurred and close out the expired risk from the register.

B.

Update, continuously monitor, and communicate the residual and secondary risks of the backup resource on the project.

C.

Hire a permanent developer to support the project, and work with the backup resource to eliminate this risk.

D.

Hire another developer to support the project, contingent on when the experienced developer returns. 

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Questions 67

The stakeholders of a building construction project are not comfortable with the project manager's handling of the project as they believe there is a financial risk. The project manager asks the risk manager to assist in demonstrating to the stakeholders that the project risks are under a tolerable threshold.

What should the risk manager do first to demonstrate this to the stakeholders?

Options:

A.

Gather other project risk historical information.

B.

Gather and reconcile project risk report data.

C.

Work with the sponsor to convince the risks are under control.

D.

Work with the team to ensure the project is in good health. 

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Questions 68

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?

Options:

A.

Ensure the project complies with the current traffic regulations and laws.

B.

Send a letter to the traffic authority with the general project information.

C.

Perform inquiries on the website of the traffic authority weekly.

D.

Meet with the traffic authority staff in charge of the new regulation.

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Questions 69

Product testing can be done in multiple ways. A few project team members suggest testing be done in a laboratory environment, whereas others recommend completing the analysis via simu-lation methods. The testing manager has consulted with a peer, who recommends undertaking testing using field trials. The testing manager consults with the risk manager to assess the risk involved in the testing.

Which tool should the risk manager consider for assessing the test risk?

Options:

A.

Scenario analysis

B.

Sensitivity analysis

C.

Probability and impact matrix

D.

Monte Carlo simul-ation 

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Questions 70

A risk manager for a new product development project has worked diligently with stakeholders and the project team to identify and document risks. These project risks vary widely in probability and impact.

Which three actions should the risk manager take to inform the identification of resource requirements for individual risk responses? (Choose 3).

Options:

A.

Work with the project team to conduct a decision tree analysis for each risk or set of related risks.

B.

Calculate the expected monetary value (EMV) of each risk and use these outputs to inform and defend project reserves.

C.

Conduct a Monte Carlo simul-ation to understand the probabilities of various risk outcomes.

D.

Use the risk breakdown structure (RBS) to calculate the total cost of mitigating all risks and ensure project reserves are adequate to cover this amount.

E.

Focus attention and resources on identified risks with the highest potential to impact the project.

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Questions 71

A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaired.

What type of risk response is this?

Options:

A.

Transfer

B.

Accept

C.

Mitigate

D.

Avoid 

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Questions 72

As part of standard procedure to monitor and control a project, a risk manager should constantly update the risk register. The risk register updates should include information on risk reassessment, risk audits, and periodic risk reviews.

What additional information should the risk manager prioritize in the risk register updates?

Options:

A.

Actual outcomes and performance of risk management strategies

B.

Actual outcomes of the project's risks and risk responses

C.

Actual costs and schedule delays of risk events

D.

Actual cost impact of risk events

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Questions 73

During a risk identification process in a construction project, the lack of space to install air conditioners is raised as a risk with high impact. Which is an example of an early risk trigger?

Options:

A.

A potential need to share the space with other machinery

B.

A different type of equipment received before installation

C.

A time delay during air conditioning installation activities

D.

A quality nonconformance issue raised during the inspection

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Questions 74

A complex project that had hundreds of risks is almost done. The project manager is closing the risks as part of the closing process. One team member mentions that there are important documents to be updated.

Which document will need to be updated?

Options:

A.

Lessons learned

B.

Contingency register

C.

Risk register

D.

Issue log

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Questions 75

A risk management team has completed a quantitative analysis, and the individual score in terms of schedule and cost has been identified. The team is consolidating inputs for contingency planning and notices that the available time and funds are not sufficient for all the risks.

What should the risk manager advise the project team?

Options:

A.

Ask the project sponsor for more time and funds if needed.

B.

Create a change request if there are additional needs based on the risk responses.

C.

Accept some risks might not be materialized so no extra time and funds will be needed.

D.

Focus on the high-impact risk for contingency planning purposes.

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Questions 76

A project team has just initiated a large project to move an organization's headquarters to another location. The risk manager has scheduled a risk identification session but notices that the project charter, work breakdown structure (WBS). and scope statement are not available.

What should the risk manager consider?

Options:

A.

Aligning with the project manager to hold an open brainstorm session with all stakeholders will suffice.

B.

The ideal solution is to find alternate documents that provide good visibility on the environment.

C.

The risk identification process can be carried out as long as the project statement is available.

D.

Risk evaluation will be challenging without these elements as a frame of reference.

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Questions 77

A risk manager for a financial organization is assigned to support a project team in developing a custom software solution to manage loans. Which document should the risk manager request first from the project sponsor to identify major risks?

Options:

A.

Risk management plan

B.

Clients' credit scores

C.

Organization's mission and vision

D.

Historical data from the credit portfolio

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Questions 78

A financial institution is creating a new product database tor their clients. The project sponsor of this project is concerned about failure of the digital platform that hosts the database. The risk manager states that this risk will only occur if there is a major power outage; however, the financial institution has back-up power generators in place.

What type of risk is being referred to here?

Options:

A.

Major risk

B.

Residual risk

C.

Secondary risk

D.

Environment risk

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Questions 79

After completing the sprint on an agile project, a team updates the risk burndown chart and notices that risk exposure has increased to levels that could negatively affect project completion. What should the risk manager do to return the project's risk exposure to an acceptable level?

Options:

A.

Update the definition of done (DoD) to improve risk management.

B.

Review the acceptance criteria for upcoming stories.

C.

Prioritize risk mitigation stories for the next sprint.

D.

Check stories in the product backlog to identify risks.

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Exam Code: PMI-RMP
Exam Name: PMI Risk Management Professional (PMI-RMP) Exam
Last Update: Jul 1, 2025
Questions: 264

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