Advance Your Career by Using Online PMI-RMP Dumps

1. A project team has completed plan risk response activities and has identified three critical risk response plans to major risk events. The responses have been monitored and implemented, with one of the responses presenting the two secondary risks.

What should the risk manager do next?

2. The project risk manager on a large firm fixed priced (FFP) contract has an up-to-date risk register with accurate and detailed information.

What should the project risk manager do next?

3. 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?

4. While developing a risk management plan for a complex program in a metricized environment, a program management team is itemizing a response plan for each identified risk that appears in the risk register.

What should the risk manager do to effectively monitor the risks?

5. A project has consistently been lagging in cost performance index (CPI) and schedule performance index (SPI) over the past few months. The risk manager realizes that some activities are taking longer than expected and more resources are needed.

Which project artifact should the risk manager analyze to mitigate the risk of further project overrun?

6. A project team working on a large software deployment project for a few months has been able to prevent a technical risk from occurring. However, an incident took place and triggered the technical issue.

What should the risk manager do?

7. During a project meeting, the project sponsor asks to close a project risk. The team does not recommend closing the risk because it is expected to be present in the next phase of the project work.

How should the risk manager address this concern?

8. Project stakeholders can often be risk averse with little to no knowledge of the risk process.

How should a risk manager increase stakeholder risk appetite?

9. Stakeholder holiday schedules and availability of raw materials were two risks initially identified in a manufacturing project. The risk manager now notices that both risks are not quite as originally described and might require a plan change.

What should the risk manager do next?

10. A risk manager is assigned to a new system deployment project with a strict contractually agreed-on schedule. One of the key risks identified is the availability of experts because many are shared on other strategic projects in the organization.

What should the risk manager do to address this situation?

11. During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.

Which tool should the project team use to determine this?

12. 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?

13. A risk manager has been assigned to an upcoming project. A senior risk manager within the organization recently completed a similar project and has provided a lessons learned document to aid planning efforts for the upcoming project. Upon reviewing the document, the risk manager discovers that the completed project was delivered several months behind schedule and several thousands of dollars over budget. The root cause was determined to be an unforeseen risk trigger that caused several items to be reworked, creating cascading schedule delays and depleting management reserves.

What should the risk manager do to mitigate the chance of the same issues reoccurring?

14. A new risk manager is assigned to an ongoing project, what should the new risk manager do first to assess the project environment?

15. During the project's lifecycle, project risk managers must monitor any risks and address risk responses.

What does this level of monitoring consist of?

16. The project manager has completed four projects all with similar scope. The project manager has recently been assigned to start on a new project and believes some risks may occur again on this project.

What should the project manager do?

17. While executing an oil extraction project in an environmentally sensitive area, weather is the main cause of delay in the project work. The risk manager was aware that the delays caused by the weather could not be avoided or mitigated.

What should the risk manager do to manage this risk?

18. A mega facility development project is evaluating some options to achieve the project schedule and budget. Each option's success is driven by multiple quantifiable factors.

What should the project manager do to evaluate and select the best option based on costs and probabilities?

19. A project manager has determined that an activity is too complex to complete internally so they hire a licensed contractor to complete the work.

What is the project manager performing in this situation?

20. The project risk manager for an environmental preservation project has started the process of monitoring and controlling risks, The project manager has asked the project team to document the results of this process.

How should this documentation be utilized in the future?

21. A risk manager is preparing for the first meeting with their project sponsor on a potential project for a large client. The risk manager reviews their newly developed project risk register to identify any risks that should be analyzed further and begins by prioritizing the probability column based on the following criteria:

1 = Very Low

2 = Low

3 = Medium

4 = High

5 = Very High

What type of risk analysis is the risk manager performing?

22. In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early completion.

In implementing this plan, which response should the risk manager use?

23. 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?

24. A project manager has just been assigned to a new project. The project manager has been tasked by the project sponsor to ensure the project risks are closely managed. The project manager starts with developing the risk management plan.

What is the expected outcome of developing the risk management plan?

25. The trigger for a highly categorized threat has occurred. The risk has a set response plan.

Who is responsible for developing responses to risk and monitoring the implementation status of the risk response?

26. The risk manager is facilitating risk planning activities with the team. The team is documenting all the check points along the way that might indicate delays on critical deliverables.

What is this an example of?

27. 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?

28. 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?

29. 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?

30. 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?

31. During the risk management planning, key stakeholders recommend adding more factors other than probability and the impact to refine the score of prioritized threats in subsequent iterations of the qualitative risk analysis. The stakeholders ask the risk manager to prepare a list to discuss this further.

Which three valid factors should the risk manager prepare on the list for discussion? (Choose 3)

32. The project team is updating the risk register with the minimum acceptable level of exposure and impact for each risk. The team also wants to determine if they have reached the maximum level of exposure before they escalate the risk.

What should the team perform in this scenario?

33. While planning for project execution phase stakeholders are making decisions on how to respond to known and new risks.

What artifact should the stakeholders prepare?

34. A project team is presenting a delivery plan to a client. Some of the client's experts do not feel comfortable with some activities at a critical stage. The experts ask to change the plan and present a better alternative.

What should the risk manager do first?

35. While implementing the risk response plan for a previously identified risk, some secondary risks were identified but not captured on the risk register. The project manager decided to review the risk management plan to ensure this does not happen for future, similar situations.

What should the project manager do next?

36. 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.)

37. After a number of risk workshops, risks have been identified.

Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

38. 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?

39. A project manager is assigned to a new project and is told they need to develop the project's risk register.

When should the project manager identify the project risks?

40. A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.

What should the risk manager of the related project have done to prevent this situation from happening?

41. What should the risk owner use as an effective information-gathering technique during the planning session?

42. A project team does not understand why a very low probability risk occurred during project execution. The team was especially vigilant about planning for this type of risk during the risk planning phase. The project has been delayed by 2 months, and the stakeholders are considering canceling the project. The risk manager needs to demonstrate that the project can be concluded.

Which analysis should the risk manager perform to demonstrate this to the stakeholders?

43. A risk management professional is currently facilitating the risk planning process with the project team. To increase the breadth of considered risks, the team wants to include high-level and strategic project risks.

What should the risk management professional do next?

44. A project team has completed the risk response plan for a newly identified major project risk. Some team members argue the plan does not totally eliminate the risk, considering the effort required to implement it, and feel the planned response should be thrown out altogether.

What should the risk manager do in this situation?

45. 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?

46. A newly assigned risk manager realizes that a project has unrealistic funding and low resources.

Which document should the risk manager review?

47. A core project team is working on unrelated tasks in advance to reduce the risk of delay due to an external team not completing its tasks on time. The core project team has completed all possible unrelated tasks but cannot move forward, because the external team's tasks have yet to be completed.

What should the risk manager do next?

48. A risk manager is facilitating a risk identification workshop on a new product with technical experts. There is no consensus among the technical experts on most of the identified risks and their characteristics. The risk manager decides to resolve this difference using another technique.

Which technique should the risk manager use in this situation?

49. 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?

50. A company has a project whose objective is to extract gold reserves from Field 1. However, another field closest to the company. Field 2, which has a higher probability of having twice as much gold reserves than Field 1. The risk manager requests the board of Directors to include Field 2 under the scope of the current project by management of change because the project's profitability will increase by 80%.

What type of request is the risk manager describing?

51. An organization faces immense competition in the market and decides to accelerate a key project.

What is the first action for the project risk manager to take?

52. 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?

53. A project manager is working on a complex construction project. During the risk identification process, hundreds of risks were identified. The team seems to be confused regarding on which risks to focus. The project manager advises the team to go ahead and start assessing the likelihood and impact of each risk.

What process is this part of?

54. 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?

55. 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?

56. A project manager was informed that the testing of the latest component in the project's software update release was not successful. As a result, 1he delivery timelines for the software release wifi be delayed. The project manager did not previously capture this as a risk to the project.

What should the project manager do next to avoid similar risks?

57. A project to deploy a new technology in field offices across the country has just been initiated. Some stakeholders are not supportive of this project because their teams will potentially be impacted by staff reductions once the technology is implemented.

How should the risk manager address this concern?

58. 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?

59. 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?

60. The project team recorded a risk in the risk register indicating that weather-related delays may impact equipment delivery during project execution. When it is time to request the equipment shipment there is bad weather, but the client wants the equipment delivered anyway.

What should the project manager do?

61. A stakeholder is asking a project team to hire an external vendor with more expertise and capacity to accelerate a delivery plan. The team has some concerns about this request.

What should the risk manager do first?

62. A project is evaluating a new software to streamline the current purchase order process. The current process is labor-intensive and involves printing, ink signatures, scanning, and emailing. Several team members gathered cycle time data to gauge the current process and evaluate the new process.

What should the risk manager do next with the data set?

63. The project risk manager is in the process of identifying risks. The project sponsor has communicated that there is an influential stakeholder who has a senior management position. The other stakeholders do not feel comfortable speaking in front of this stakeholder.

What should the project risk manager do next to identify risks?

64. In a project to promote public health and mitigate health risks, the national health authorities intend to take actions to limit the risks of harmful insects by using pesticides; however, it is expected that some residents will have negative health effects due to the use of the pesticides but according to the assessment completed by the health authorities, not moving forward with this plan will have much more serious consequences on public health rather than following through with the original plan.

How should the project manager address this concern with the health authorities?

65. During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.

Which action should the risk manager take to address this risk?

66. 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?

67. 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?

68. An agile project manager has noticed their team's declining morale, mistrust, and isolation over the last 6 months of working on a project.

What should the agile project manager do to enhance productivity and create a cohesive team culture?