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PMI-RMP exam is a rigorous and comprehensive test that assesses an individual's knowledge and understanding of risk management. PMI-RMP exam consists of 170 multiple-choice questions and has a duration of 3.5 hours. The questions are designed to test the candidate's understanding of risk management concepts and their practical application in real-world scenarios.
PMI-RMP Exam Overview
The PMI-RMP exam is for individuals with a professional background in project risk management. The bigger and the more complex your past projects were, the more suited you are for the PMI-RMP certificate. To be eligible for such a certification, you need to meet specific prerequisites as listed below:
1. If you have a secondary degree such as a high school diploma, you also need to have:
- undergone project risk management education for at least 40 hours.
- worked as a project manager for 36 months in the past 5 years;
NEW QUESTION # 51
A project team member has just identified a new project risk. The risk event is determined to have significant impact but a low probability in the project. Should the risk event happen it'll cause the project to be delayed by three weeks, which will cause new risk in the project. What should the project manager do with the risk event?
- A. Add the identified risk to the low-level riskwatchlist.
- B. Add the identified risk to the issues log.
- C. Add the identified risk to a quality control management control chart.
- D. Add the identified risk to the risk register.
Answer: D
NEW QUESTION # 52
Donna is the project manager of the QSD Project and she believes Risk Event D in the following figure is likely to happen.
If this event does happen, how much will Donna have left in the risk contingency reserve if none of the other risk events have happened?
- A. $6,700
- B. $14,000
- C. $35,000
- D. $41,700
Answer: A
NEW QUESTION # 53
Jeff works as a project manager for BlueWell Inc. He is determining which risks can affect the project.
Which of the following are the inputs to the identify risks process that Jeff will use to accomplish the task?
Each correct answer represents a complete solution. Choose all that apply.
- A. Scope baseline
- B. Risk register
- C. Risk management plan
- D. Activity cost estimates
Answer: A,C,D
NEW QUESTION # 54
Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?
- A. Integrated Change control
- B. Scope Change control
- C. Monitor and Control risk
- D. Configuration Management
Answer: C
NEW QUESTION # 55
You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?
- A. Risk register
- B. Lessons learned documentation
- C. Stakeholder management strategy
- D. Risk management plan
Answer: A
Explanation:
Explanation
NEW QUESTION # 56
You are the project manager of the GGG project. You have completed the risk identification process for the initial phases of your project. As you begin to document the risk events in the risk register what additional information can you associate with the identified risk events?
- A. Risk cost
- B. Risk potential responses
- C. Risk schedule
- D. Risk owner
Answer: B
NEW QUESTION # 57
Holly is the project manager of the GHH Project. During risk identification and the subsequent risk analysis process she has identified a risk with a high probability and high impact for her project. She and the stakeholder agree that the project management plan should be changed to eliminate the risk threat entirely. What risk response has Holly used in this instance?
- A. This is a scope change and not a risk response.
- B. This is the risk mitigation response.
- C. This is the transference risk response.
- D. This is the avoidance risk response.
Answer: D
NEW QUESTION # 58
You are the project manager of the NJJ project. Your enterprise environmental factors require that you establish certain risk management rules regarding low risks within your project. What is the best policy for risks with low probability and low impact in the project management?
- A. These risks should be placed in the risk register.
- B. These risks should be placed on awatchlist for future monitoring.
- C. These risks should be identified, but dismissed.
- D. These risks should be accepted.
Answer: B
NEW QUESTION # 59
John works as a project manager for ABD project. He and his team, are working on the following activities:
* Relative ranking or priority list of project risks
* Watchlists of low priority risk
* Trends in Qualitative Risk Analysis results
On which of the following processes is John working on?
- A. Perform Qualitative Risk Analysis
- B. Plan Risk Management
- C. Perform Quantitative Risk Analysis
- D. Plan Risk Responses
Answer: A
NEW QUESTION # 60
You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform distribution method for a portion of the project.
Which part of your project is most likely to have a uniform risk distribution?
- A. Project phases that deal with "cutover" technologies
- B. Early concept stage of design
- C. Project initiating
- D. Late completion stages of a project
Answer: B
NEW QUESTION # 61
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?
- A. Establishes risk sources and ownership for trigger monitoring.
- B. Creates a single repository for all project risk documents.
- C. Enhance the process of identification of different Individual project risks.
- D. Allows monitoring the impact against the overall project risk exposure.
Answer: D
Explanation:
Explanation
Centralizing the risk management function enables the organization to have a consistent approach to reporting risks and their impacts. This allows for better monitoring of the impact against the overall project risk exposure, which helps in making informed decisions and allocating resources effectively.
NEW QUESTION # 62
You are the project manager of the NHQ Project for your company. You are discussing some of the project issues that need to be resolved in the project. You and the project stakeholders come to an agreement about the risk issues and how they will be resolved. Where should you document this information for issue resolution?
- A. Issue log
- B. Project management plan for execution
- C. Lessons learned documentation
- D. Risk response plan
Answer: A
NEW QUESTION # 63
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?
- A. Update the communications management plan to avoid future issues
- B. Identify secondary or residual risks for associated risk plans.
- C. Monitor and control secondary and residual risks in the risk register.
- D. Develop risk response plans for all identified risks.
Answer: C
Explanation:
Explanation
The project manager should monitor and control secondary and residual risks in the risk register. This will ensure that any new risks identified during the implementation of the risk response plan are captured and managed effectively. Monitoring and controlling risks is acontinuous process that helps in identifying, analyzing, and planning for new risks as well as updating the risk register as needed.
NEW QUESTION # 64
Which analysis method uses stratified sampling without replacement?
- A. Impact analysis
- B. Monte Carlo simulation
- C. Latin Hypercube
- D. Linear regression analysis
Answer: C
NEW QUESTION # 65
Donna is the project manager of the QSD Project and she believes Risk Event D in the following figure is likely to happen.
If this event does happen, how much will Donna have left in the risk contingency reserve if none of the other risk events have happened?
- A. $6,700
- B. $14,000
- C. $35,000
- D. $41,700
Answer: A
NEW QUESTION # 66
The project manager of a project in trouble actively participates in a project risk assessment. After the assessment is complete, the project manager receives the final results.
What is the best recommended action to be taken from this point onward?
- A. Use the assessment results in the day-to-day management of project risks.
- B. Schedule a meeting and present the assessment results.
- C. Use the assessment results to review the project hand over plan to operations.
- D. Schedule a meeting with the project sponsor and discuss the assessment results.
Answer: B
Explanation:
Explanation
NEW QUESTION # 67
Which of the following processes is described in the statement below? "This is the process of numerically analyzing the effect of identified risks on overall project objectives."
- A. Identify Risks
- B. Perform Qualitative Risk Analysis
- C. Perform Quantitative Risk Analysis
- D. Monitor and Control Risks
Answer: C
NEW QUESTION # 68
The risk manager wants to determine what is to be measured, how it is to be measured, and what project outcomes are to be measured. In which of the following processes should this be established?
- A. Planning Process
- B. Initiating Process
- C. Monitoring and Controlling Process
- D. Executing Process
Answer: A
NEW QUESTION # 69
PESTLE, TECOP, and SPECTRUM are three examples of prompt lists that can be used during risk management activities. Prompt lists are used to do which of the following?
- A. Achieve the relative weighting of the risks.
- B. Identity basic causes of risks of more fundamental forces.
- C. Perform a simulation with all prompted risks varying simultaneously.
- D. Simulate risk identification.
Answer: D
Explanation:
Explanation/Reference:
NEW QUESTION # 70
Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?
- A. Costs and schedule
- B. Cost and resource management
- C. Risk and project planning
- D. Quality and costs
Answer: A
NEW QUESTION # 71
CORRECT TEXT
Fill in the blank with an appropriate phrase.
________are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing.
Answer:
Explanation:
Pure risks
NEW QUESTION # 72
Your project uses a piece of equipment that if the temperature of the machine goes above 450 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours. Should this machine overheat even once it will delay the project's end date. You work with your project to create a response that should the temperature of the machine reach 430, the machine will be paused for at least an hour to cool it down. The temperature of 430 is called what?
- A. Risk response
- B. Risk identification
- C. Risk trigger
- D. Risk event
Answer: C
Explanation:
Explanation/Reference:
NEW QUESTION # 73
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Main Requirements to Meet
The PMI-RMP certification is intended for those professionals who possess advanced risk management knowledge and experience. The individuals who perform the role of a Project Manager and are involved in managing large projects and/or complex environments can also pursue this certificate.
The eligibility requirements for the PMI-RMP certification include holding a secondary degree (including a high school diploma, an associate’s degree, or their global equivalent); 36 months of work experience in project risk management within the last 5 years; and at least 40 hours of risk management education concerning projects. If you do not meet some of the above-mentioned prerequisites, you can also qualify for this certificate satisfying the following requirements: a bachelor’s degree or a global equivalent of the same; at least 24 months of work experience in risk management within the last 5 years; and at least 30 hours of conclusive risk management education concerning projects.
PMI PMI-RMP Official Cert Guide PDF: https://passleader.realexamfree.com/PMI-RMP-real-exam-dumps.html
