PMI Risk Management Professional PMI-RMP Dumps in PDF

Free PMI PMI-RMP Real Questions (page: 4)

A risk on the risk register is triggered. This triggered risk costs US$200,000 to mitigate and will overwhelm the project, causing it to fail if not mitigated. The project manager identifies that there is US$200,000 left in the management reserve.

From which of the following sources should the funds be drawn to cover the risk mitigation?

  1. Organization management reserve
  2. Unplanned risk reserve
  3. Contingency reserve
  4. Management reserve

Answer(s): C



Which tool can the project risk manager utilize to help identify and assess project risks?

  1. Risk audit
  2. Risk surveys
  3. Risk manager interviews
  4. Risk sensitivity surveys

Answer(s): B



The project manager is unable to obtain a global consensus of competing subject matter experts and stakeholders on the project scope. This has caused a one-month delay.

What should the project manager do next to reduce further delay?

  1. Initiate a scope change request.
  2. Schedule a project kick-off meeting.
  3. Schedule a stakeholder meeting.
  4. Engage the project sponsor/portfolio manager.

Answer(s): A



A risk is identified early in the project. After six months, it is determined that the risk does not apply to this particular project.

How should the risk be handled by the risk manager?

  1. Ignore the risk and concentrate only on the pertinent risks.
  2. Remove the risk from the risk register and inform the project manager that it is no longer valid.
  3. Close the risk during the next risk board meeting and keep it in the risk register.
  4. Conduct a risk analysis to determine how an inappropriate risk was formally accepted.

Answer(s): B



Who is ultimately responsible for monitoring a risk that is about to exceed its risk threshold?

  1. Any project stakeholder
  2. Project management office
  3. Senior manager
  4. Risk action owner

Answer(s): D



The sponsor hires a program manager as a consultant to evaluate a change program currently underway. The leading program manager tells the consultant that the program, currently in the execution phase, is in good standing, and detailed plans are available for review. The consultant reviews the project documentation and talks to the stakeholders, finding the opposite to be true. The project must be in recovery mode to get it back on track, and it is still in the planning phase. There is low morale among the team members, the meetings are poorly managed, the detailed schedule has gaps, the risk register has not been updated for months, communications and detailed resource plans do not exist, and contract negotiations with a key vendor are behind schedule for critical deliverables.

What is the first course of action the program manager should take based on the current state?

  1. Cancel or put the project on hold, and hire a new program manager.
  2. Assess the risk management plan and adjust it accordingly to accommodate the gaps.
  3. Continue the project and create the project documentation that is missing.
  4. Meet with the project sponsor to report current findings, review current risk management plan and develop a corrective course of action.

Answer(s): D



Which of the following is the primary project artifact used to capture risks, strategies, ownership patterns, and other vital information about an organization's project risk baseline?

  1. Risk action plan with owners
  2. Risk register
  3. Mitigation plan
  4. Risk management plan

Answer(s): B



The project manager receives an updated project schedule from a sub team detailing the deliverables, dates, and durations for a critical milestone on the development and testing for off-shore activities. This report is received one hour before a meeting with the chief executive officer (CEO) to present an updated master schedule of the critical path. The CEO has been promised a discussion on the project schedule several times. However, based on the recent update from the off-shore team, the project manager realizes this new schedule is not realistic. There are new risks associated with it and it is not well thought out. Some key stakeholders want to present this revised plan to the CEO. This meeting has been postponed twice already.

Which action should the project manager take before meeting with the CEO?

  1. Talk to the stakeholders before the meeting to discuss the options and ask their opinion.
  2. Present the revised master schedule to the CEO with the caveat that it is being updated as new information is received, and these are the current dates at this point.
  3. Request the meeting be re-scheduled before presenting the master schedule to the CEO, stating that new major risks were identified and need to be assessed thoroughly.
  4. Present the revised schedule to the CEO and only answer questions about validity, if asked.

Answer(s): C



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