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PMI-RMP Certification Training, PMI-RMP Practice Test Online

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PMI Risk Management Professional Sample Questions (Q102-Q107):

NEW QUESTION # 102
You are the project manager of a new project in your organization. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?

A. Project network diagrams
B. Cause-and-effect diagrams
C. Decision tree analysis
D. Delphi Technique

Answer: C

NEW QUESTION # 103
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?

A. The discipline engineers
B. The audit team
C. The risk manager
D. The risk owners

Answer: C

Explanation:
The risk manager is responsible for ensuring that all risks, including secondary risks, are identified and addressed during the risk response planning process. If key secondary risks were missed, the risk manager should be held accountable. (Reference: Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, Section 11.5) The risk manager is responsible for identifying and analyzing risks, as well as planning and implementing risk responses. Secondary risks are those risks that arise as a direct result of implementing a risk response to a specific risk. The risk manager should have considered the potential secondary risks during the risk response planning and updated the risk register accordingly. The project manager should hold the risk manager accountable for missing the secondary risks and ensure that they are properly addressed12
1: PMI Risk Management Professional (PMI-RMP) Handbook, page 10 2: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Seventh Edition, page 11.2.2.1

NEW QUESTION # 104
When should the benefits of quantitative risk analysis be weighed against the effort required to ensure that the additional insights and value justify the extra effort?

A. During the Plan Risk Management process
B. Once the overall project risk has been estimated
C. Once all individual risks have been scored
D. After risks have been identified by stakeholders

Answer: A

Explanation:
The Plan Risk Management process is where the project team determines the depth and breadth of risk management activities, including whether quantitative risk analysis is appropriate. PMBOK Guide says:
"The Plan Risk Management process determines how to approach and conduct the risk management activities for a project. This includes weighing the benefits and effort of advanced techniques such as quantitative risk analysis."
- PMBOK Guide, 6th Edition, Section 11.1
References:
PMBOK Guide, 6th Edition, Section 11.1

NEW QUESTION # 105
A risk manager faces resistance as they try to implement the project's risk strategy. Some members of the project team believe it is a waste of time and money, What should the risk manager do?

A. Continue to implement the risk strategy
B. Raise the concerns with the project sponsor,
C. Reduce the number of risk management activities.
D. Meet with team members to address their concerns.

Answer: D

Explanation:
When facing resistance from team members, the risk manager should engage in open communication to address their concerns and clarify the importance of risk management in the project.
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, the risk manager should handle this situation by meeting with team members to address their concerns. This is because:
* Resistance to risk management is a common challenge that can hinder the effectiveness and efficiency of the risk management process. Resistance can stem from various factors, such as lack of awareness, understanding, commitment, trust, or support for risk management; fear of negative consequences or blame; competing priorities or interests; or cultural differences or biases.
* Meeting with team members to address their concerns is a proactive and constructive way to overcome resistance and foster a positive risk culture within the project. By meeting with team members, the risk manager can:
* Communicate the value and benefits of risk management for the project and the organization, such as improving decision-making, enhancing performance, increasing stakeholder satisfaction, and reducing uncertainty and variability.
* Educate and train team members on the risk management principles, processes, tools, and techniques, and how they can be applied to the project context and objectives.
* Involve and empower team members in the risk management activities, such as identifying, analyzing, prioritizing, responding, and monitoring risks, and solicit their feedback and suggestions for improvement.
* Recognize and reward team members for their contributions and achievements in risk management, and celebrate the successful outcomes and opportunities realized by the project.
* The other options are not effective in handling this situation because:
* Continuing to implement the risk strategy without addressing the resistance can lead to further conflict, resentment, and distrust among the team members, and undermine the quality and credibility of the risk management process and outputs.
* Reducing the number of risk management activities can compromise the project's ability to identify and respond to the risks that may affect its scope, schedule, cost, quality, or other objectives, and expose the project to unnecessary threats or missed opportunities.
* Raising the concerns with the project sponsor can escalate the issue and create a negative impression of the team members, and may not resolve the underlying causes of the resistance or improve the team's engagement and commitment to risk management.
:
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
Risk Management Professional (PMI-RMP)®Exam Cert Guide2

NEW QUESTION # 106
A project manager wants to introduce a new technology to improve a project's performance. However, there are some costs associated that are beyond the current budget, and the proposed technology has not been applied to any previous company projects.
What should the project manager do in this situation?

A. Accept the fact that there is a risk associated with this new technology.
B. Outsource the implementation of the new technology as soon as possible.
C. Escalate this initiative to project decision makers and sponsors.
D. Take advantage of this opportunity of Improving the project performance.

Answer: D

Explanation:
The project manager should escalate this initiative to project decision makers and sponsors, as they have the authority to approve changes in budget and scope. They can evaluate the potential benefits and associated with the new technology and make an informed decision on whether to proceed.
According to the PMBOK® Guide1, an opportunity is a risk that would have a positive effect on one or more project objectives if it occurs. Opportunities are uncertain events or conditions that can enhance or facilitate the achievement of project goals, such as cost savings, schedule acceleration, quality improvement, or scope expansion. A project manager should take advantage of opportunities by implementing risk responses that seek to maximize their probability and/or positive impact. In this case, the project manager wants to introduce a newtechnology to improve the project's performance, which is an opportunity for the project. The project manager should take advantage of this opportunity by planning and executing appropriate risk responses, such as exploiting, enhancing, sharing, or accepting the opportunity. This is part of the Plan Risk Responses and Implement Risk Responses processes in the PMBOK® Guide1. References: 1: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition.

NEW QUESTION # 107
......

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