PMI Risk Management Professional PMI-RMP Exam Questions in PDF

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?

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

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?

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?

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

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?

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?

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?