PMI Risk Management Professional PMI-RMP Exam Questions

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PMI Risk Management Professional PMI-RMP exam is for project manager, risk manager, functional manager or C-suite executive. If you are one of them, PMI-RMP exam certification is your good choice. There are 115 multiple-choice questions in the real PMI-RMP exam. The test is available in English and Arabic. We have cracked the latest PMI Risk Management Professional PMI-RMP exam questions, which can help you test all the related skills. Free PMI Risk Management Professional PMI-RMP exam questions are below.

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1. 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?

Adopt a predictive approach to manage the risks.

Adopt agile approaches to manage the risks.

Utilize proper documentation to help manage the risks.

Conduct weekly risk management meetings with all stakeholders.

2. 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?

Review the assumptions analysts

Conduct a checklist analysis on each risk

Create a risk response plan tor those risks

Review the risk register to check for the new risks

3. 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?

Identify risks only at the project's midpoint for the stakeholders to review them

Ensure project team members proactively identify risks throughout the project to plan for possible response strategies

Identify risks at the beginning of the project because the risk posture will not change

Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas

4. A project manager has requested a risk manager facilitate risk identification on a project. While facilitating this effort, the project manager wants to ensure that stakeholders interact and provide their expertise so that an exhaustive list of risks is created.

Which risk identification technique should the risk manager use?

Prompt lists

Interviews

Delphi technique

Nominal group technique

5. A risk manager has been assigned to a project constructing a chemical laboratory. Unfamiliar with chemical laboratories, the risk manager is unsure of where to start objectively identifying risks.

What should the risk manager do?

Import a risk register from other industry chemical laboratories.

Define chemical laboratory safety risk thresholds.

Review published operational experience reports.

Draft threat and opportunity risks that come to mind.

6. 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?

Plan Risk Management

Perform Qualitative Risk Analysis

Perform Quantitative Risk Analysis

Monitor and Control Risk

7. 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?

Add more float to the key activity

Add more contingency to the project

Review the plans for the key activity

Increase the budget for the key activity

8. An organization with a large computer network identified a potential cyber security threat. Although certain measures were implemented to avoid the risk, the cyber security threat occurs. The measures were partially successful and a new unforeseen risk emerges.

What should the risk owner do?

Develop an efficient network protection solution quickly to mitigate the risk.

Escalate the case to the risk manager and wait for their instructions.

Conduct an analysis to determine the root cause of the failed response.

Apply a work around to eliminate or mitigate the impact of the threat.

9. Several key stakeholders approach the project manager with concerns. The stakeholders have received feedback from local businesses that have reported a reduction in customers because of construction activities at the worksite, and they plan to submit a claim to the municipality to fine the project manager's company.

How should the project manager address this concern?

Evaluate the risk with the team and update the issueing

Discuss the concern with the local business owners.

Update the key risks and perform a quantitative risk analysis.

Adjust construction work hours to after business hours.

10. A project manager is working on a construction project. Based on past experience, the project manager identifies a risk that a supplier of a critical material may not deliver on time. The project manager has already accounted for this risk in the risk management plan. If this risk materializes, the project manager plans to procure the material from a different supplier. A potential risk in this plan is that there may be differences in the material provided by the first and second supplier.

What type of risk is this?

Residual risk

Primary risk

Secondary risk

Normal risk

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

Request a contingency reserve from management

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

Ensure participants review relevant documents before attending the meeting

Ensure that all the relevant stakeholders participate

Update the risk register during the team meeting.

12. 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?

Update the assumptions/exclusions register

Hire more resources and crash the schedule

Perform a qualitative risk analysis for the project

Mitigate risks identified on the sensitivity analysis

13. 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?

Risk thresholds

Risk response strategies

Risk management reports

Risk breakdown structure (RBS)

14. 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.)

Check to ensure that the risk is supported by a Monte Carlo simulation.

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

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

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

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

15. A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.

What should the project team do next?

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

Log the threats in the risk register to try to minimize the probability of occurrence.

Log the threats in the risk register to try to maximize the probability of occurrence.

Update the project management plan to ensure the results of the opportunities are captured.

16. 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.)

Project contracts

Lessons learned registers from analogous projects

Risk register

Risk management plan

Code of regulations

17. 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?

Review the risk breakdown structure to ensure project scope is covered.

Use the brainstorming technique to remove personal bias.

Use expert judgment to remove ego or emotional conflict.

Consider the Delphi technique to gather all stakeholder opinions.

18. Stakeholder deliverable reviews will start soon and additional work is expected to resolve any issues or required adjustments. Budget overruns during execution have put serious constraints on the remainder of the project's budget.

What should the project manager do next?

Request a budget relief using the management reserve.

Conduct a risk reassessment and reserve analysis.

Review the consequences of potential changes.

Coach stakeholders on risk identification practices.

19. 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?

Identify secondary or residual risks for associated risk plans.

Develop risk response plans for all identified risks.

Update the communications management plan to avoid future issues

Monitor and control secondary and residual risks in the risk register.

20. 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?

Escalate the problem to the project sponsors.

Execute the approved risk response plan.

Negotiate with the supplier to resolve the problem.

Assign a team member to update the issue leg.

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21. The project manager leading a company's digital signature initiative for engineering drawingshas identified threats and opportunities using a strengths, weaknesses, opportunities, and threats (SWOT) analysis.

What are two potential threats or opportunities under the SWOT analysis? (Choose two.)

The management team agreeing to include more resource for the digital signature initiative.

The organization's professional engineers having reservations about possible information tampering.

A growing number of competitors with digital signatures.

An elimination of manual steps associated with recording wet signatures

The growing adoption of mobile communications in the industry.

22. The risk manager also serves as a facilitator for a project and realizes the project team members have biases impacting how they perceive risks.

What analysis is currently being used?

Quantitative risk analysis

Force field analysis

Qualitative risk analysis

Stakeholder analysis

23. The risk manager of a major project needs to ensure the organizational process assets (OPAsj are updated as a result of risk management activities.

How will the risk manager accomplish this?

Ensuring that the project sponsor is kept well-informed

Arranging periodic risk: management process audits

Communicating the status of risks regularly to stakeholders

Monitoring costs with intervention when necessary

24. The project director and project manager have met with the board and determined that the project has depleted the entire contingency reserve and has started eroding the profit margin.

The project manager would like the risk manager to take full advantage of opportunities.

Which response should the risk manager take?

Mitigate

Transfer

Exploit

25. A project manager is developing the risk register and works with the team to analyze risks and determine their probability and impact. There is valuable historical data available that may be used to simulate the overall risk outcome.

Which type of analysis should the project manager use in this instance?

Check list analysis

Cause and effect

Specialized meeting

Quantitative analysis

26. A risk manager notices that a risk owner is facing challenges implementing their response strategy and the costs are significantly exceeding expectations.

What is the first thing the risk manager should do?

Highlight this situation to the project manager

Conduct a cost-benefit analysis

Change the risk response strategy

Analyze the situation and meet with the risk owner

27. A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company's business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.

What should the project manager do next?

Update the project management plan to add contingency.

Perform an assumptions and constraints analysis.

Complete an assessment and confirm the response with the sponsors.

Implement mitigation measures for those risks.

28. 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?

Quantitative risk analysis

Risk response planning

Monitor and control risks

Risk urgency assessment

29. A risk manager was recently hired to assist with a mid-sized infrastructure project. The risk manager becomes aware that they have an inexperienced project team.

What two items should the risk manager have their team review in order to prepare for an upcoming risk identification workshop? (Choose two.)

Scope of work and requirements

Monte Carlo analysis from a similar project

List of pre-approved contractors

Organization chart for city permit department

Risk management plan

30. 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?

Ensure sufficient resources are available

Revise the risk management plan

Update the risk register

Meet with the project's stakeholders

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31. 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.)

Proximity dales for open risks

Backlog of change orders to be submitted to client

Risks that have materialized and the overall risk profile

Number of schedule baseline changes approved

Risks due to the number of claims submitted to the client

32. Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted.

What will help calculate the impact?

Risk analysis

Risk identification

Risk treatment

Risk evaluation

33. 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?

Outsource conducting the risk response plan to risk consultants.

Ask functional managers to improve their risk register and process.

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

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

34. 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?

Lessons learned

Contingency register

Risk register

Issue log

35. The project manager wants to use an objective method to evaluate the key project risks and develop response plans.

What action should the risk manager propose?

Ask the team to perform an earned value analysis.

Review the lessons learned from other projects.

Ask the team to prepare a Monte Carlo analysis.

Ask the risk expert to perform a PESTLE evaluation.

PMI Risk Management Professional PMI-RMP Exam Questions

PMI Risk Management Professional PMI-RMP Exam Questions

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