2023 Valid PMI-RMP test answers & PMI Exam PDF
Free PMI PMI-RMP Exam Questions and Answer from Training Expert ITExamDownload
To be eligible for the PMI-RMP exam, candidates must have a minimum of three years of professional experience in project management and at least 30 hours of formal education in risk management. The exam consists of 170 multiple-choice questions, and candidates have four hours to complete it. The certification is valid for three years, and professionals must earn 30 professional development units (PDUs) in risk management to maintain their certification. Overall, the PMI-RMP certification is an excellent credential for project managers who want to demonstrate their skills in risk management and advance their careers.
NEW QUESTION # 40
Who is ultimately responsible for monitoring a risk that is about to exceed its risk threshold?
- A. Project management office
- B. Risk action owner
- C. Any project stakeholder
- D. Senior manager
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION # 41
Which of the following diagrams displays sensitivity analysis data?
- A. Cause and effect
- B. Tornado
- C. Fishbone
- D. Influence
Answer: B
NEW QUESTION # 42
You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events. Which one of the following is NOT a document that will help you identify and communicate risks within the project?
- A. Stakeholder register
- B. Activity duration estimates
- C. Activity cost estimates
- D. Risk register
Answer: D
NEW QUESTION # 43
What is defined as "an uncertainty that could have a positive or negative effect on the project objectives", and second, what is a "chosen state of mind, mental view or disposition with regard to a fact or state"?
- A. Opportunity/Attitude
- B. Risk/Attitude
- C. Risk/Response
- D. Opportunity/Response
Answer: B
NEW QUESTION # 44
You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?
- A. The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
- B. The project's cost management plan is not an input to the quantitative risk analysis process.
- C. The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
- D. The project's cost management plan provides direction on how costs may be changed due to identified risks.
Answer: C
NEW QUESTION # 45
You are the project manager of the NKJ Project for your company. The project's success or failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project.
Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?
- A. Risk-reward mentality
- B. Mitigation-ready project management
- C. Risk utility function
- D. Risk avoidance
Answer: C
NEW QUESTION # 46
Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?
- A. Government regulations, risk categories, organizational standard processes, and competitor landscape
- B. Government regulations, human resource policies and procedures, organizational standard processes, and competitor landscape
- C. Government regulations, industry standards, conditions of the marketplace, and competitor landscape
- D. Government regulations, industry best practice templates, organizational standard processes, and competitor landscape
Answer: C
NEW QUESTION # 47
Neil works as a project manager for SoftTech Inc. He is working with Tom, the COO of his company, on several risks within the project. Tom understands that through qualitative analysis Neil has identified many risks in the project. Tom's concern, however, is that the priority list of these risk events are sorted in "high-risk,"
"moderate-risk," and "low-risk" as conditions apply within the project. Tom wants to know that is there any other objective on which Neil can make the priority list for project risks. What will be Neil's reply to Tom?
- A. Risk may be listed by the responses in the near-term
- B. Risks may be listed by priority separately for schedule, cost, and performance
- C. Risks may be listed by the additional analysis and response
- D. Risks may be listed by categories
Answer: B
NEW QUESTION # 48
During which of the following processes, probability and impact matrix is prepared?
- A. Plan Risk Responses
- B. Monitoring and Control Risks
- C. Perform Qualitative Risk Analysis
- D. Perform Quantitative Risk Analysis
Answer: C
NEW QUESTION # 49
During a company's audit, it is found that no risk management information exists within the lessons learned database. What could the company do to increase the amount of risk management organizational process assets?
- A. Require the project manager to record significant risk management information, to provide concrete data in the lessons learned database for future projects.
- B. Require the PMO to merge and distribute risk logs to all key stakeholders associated with risk management.
- C. Require the project manager to update the project management office (PMO) policy and procedures on an iterative basis to ensure relevancy to current projects.
- D. Require the PMO to perform quality audits on all active projects, to ensure alignment with communication industry standards.
Answer: A
NEW QUESTION # 50
A project manager wants to work on understanding the project risks. The project manager works with the integrated project team to develop the risk handling strategies for the identified risks.
How should the project manager work with these risk handling strategies?
- A. Review and revise the strategies periodically.
- B. Implement the strategies immediately.
- C. Ensure the strategies are approved by the stakeholders.
- D. Implement the strategies after completing the risk analysis.
Answer: A
Explanation:
Explanation
Risk handling strategies should be reviewed and revised periodically to ensure they remain effective and relevant as the project progresses. This allows the project manager to adapt tochanging circumstances and minimize the impact of risks on the project.
NEW QUESTION # 51
Sam is the project manager of a construction project in south Florida. This area of the United States is prone to hurricanes during certain parts of the year. As part of the project plan Sam and the project team acknowledge the possibility of hurricanes and the damage the hurricane could have on the project's deliverables, the schedule of the project, and the overall cost of the project. Once Sam and the project stakeholders acknowledge the risk of the hurricane they go on planning the project as if the risk is not likely to happen. What type of risk response is Sam using?
- A. Avoidance
- B. Mitigation
- C. Passive acceptance
- D. Active acceptance
Answer: C
Explanation:
Explanation/Reference:
NEW QUESTION # 52
There are seven risk responses for any project. Which one of the following is a valid risk response for a negative risk event?
- A. Share
- B. Enhance
- C. Exploit
- D. Acceptance
Answer: D
NEW QUESTION # 53
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 risk probability and impact for the risks, which are still present in the project but which have not yet occurred.
- B. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are.
- C. 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.
- D. 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.
Answer: D
NEW QUESTION # 54
An organization that spans across different countries undergoes a digital transformation project. The project manager has assigned a risk management team leader who is a risk management certified candidate in their domain.
What should the risk management team leader do in the early stages of the project?
- A. Benchmark to an organization which has executed a similar project,
- B. Conduct qualitative risk analysis to prioritize potential risks.
- C. Educate stakeholders on best practices to perform risk management.
- D. Plan a solid risk response plan and secure the necessary funding.
Answer: B
Explanation:
Explanation
In the early stages of a project, the risk management team leader should conduct qualitative risk analysis to prioritize potential risks. This will help the team to focus on the most significant risks and develop appropriate risk response strategies.
NEW QUESTION # 55
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, the risk probability and impact matrix is the only approach to risk assessment.
- B. Sammy is correct, because she is the project manager.
- C. Sammy is correct, because organizations can create risk scores for each objective of the project.
- D. Harry is correct, because the risk probability and impact considers all objectives of the project.
Answer: C
NEW QUESTION # 56
During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites. The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process.
What should the project manager do next?
- A. Make the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.
- B. Update the project schedule and inform the stakeholders about the project schedule delay.
- C. Instruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.
- D. Deal with the issue and instruct the risk manager to include the risk of theft in the issue log.
Answer: D
NEW QUESTION # 57
Mary is a project manager in her organization. On her current project she is working with her project team and other key stakeholders to identify the risks within the project. She is currently aiming to create a comprehensive list of project risks so she is using a facilitator to help generate ideas about project risks. What risk identification method is Mary likely using?
- A. Delphi Techniques
- B. Brainstorming
- C. Expert judgment
- D. Checklist analysis
Answer: B
NEW QUESTION # 58
You work as a project manager for BlueWell Inc. You want to create a visual diagram, which can depict the resources that will be used within the project. Which of the following diagrams will you create to accomplish the task?
- A. RACI chart
- B. Resource breakdown structure
- C. Work breakdown structure
- D. Roles and responsibility matrix
Answer: B
NEW QUESTION # 59
Yolanda is the project manager of a high-profile project for her organization. This project has 124 stakeholders from across the organization and many of the stakeholders have high demands and expectations for the project. Yolanda will need several pieces of project information as she begins to communicate and manage the stakeholder expectations. Which of the following inputs of the manage stakeholder expectations process directly addresses the risks that could affect the project and which must be communicated to the project stakeholders?
- A. Stakeholder register
- B. Low-level risks watchlist
- C. Change log
- D. Issue log
Answer: C
NEW QUESTION # 60
Which of the following techniques examines the degree to which organizational strengths offset threats and opportunities that may serve to overcome weaknesses?
- A. Delphi
- B. Brainstorming
- C. SWOT Analysis
- D. Expert Judgment
Answer: C
NEW QUESTION # 61
Harry is a project manager of a software development project. In the early stages of planning, he and the stakeholders operated with the belief that the software they were developing would work with their organization's current computer operating system. Now that the project team has started developing the software it has become apparent that the software will not work with nearly half of the organization's computer operating systems. The incorrect belief Harry had in the software compatibility is an example of what in project management?
- A. Assumption
- B. Issue
- C. Risk
- D. Constraint
Answer: A
NEW QUESTION # 62
An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?
- A. Ensure sufficient resources are available
- B. Meet with the project's stakeholders
- C. Revise the risk management plan
- D. Update the risk register
Answer: C
Explanation:
Explanation
When a project is accelerated, the risk landscape changes. The project risk manager should first revise the risk management plan to address the new timeline and its potential impacts on the project. This will help in identifying new risks, reassessing existing risks, and updating risk responses.
NEW QUESTION # 63
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