Risk Management Professional Exam Exam Questions PDF download

QUESTION: 51

Tom works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks, and provides a quantitative assessment of the likely cost to complete the scheduled activities?

Activity cost estimates
Cost management plan
Activity duration estimates
Risk management plan

Answer(s): A

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QUESTION: 52

Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?

Resource management plan
Project plan
Project management plan
Risk management plan

Answer(s): D

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QUESTION: 53

Holly is the project manager of the NSS Project for her company. She is discussing some of the project risks and the issues that have happened in the project. Holly has faxed the status report to her project client for their review. Based on the standard communication model, which component in this scenario is the decoder?

Project customer
Telephone wire
Holly
Project customer's fax machine

Answer(s): D

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QUESTION: 54

Pete works as a project manager for BlueWell Inc. The Management has told him that he must implement an agreed-upon contingency response if the cost performance index in his project is less than 0.90. Consider that Pete's project has a budget at completion of $275,000. His project is 65 percent complete and he has spent $175,000 to date. However, Pete is scheduled to be 78 percent complete. What is the cost performance index for this project to determine if the contingency response should happen?

1.02
0.96
0.90
0.89

Answer(s): A

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QUESTION: 55

You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy's concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks that have low probability and low impact for future reference. What should you tell Nancy?

Risks with low probability and low impact are recorded in a watchlist for future monitoring.
All risks, regardless of their assessed impact and probability, are recorded in the risk log.
Risk identification is an iterative process so any changes to the low probability and low impact risks will be reassessed throughout the project life cycle.
All risks are recorded in the risk management plan.

Answer(s): A

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QUESTION: 51

QUESTION: 52

QUESTION: 53

QUESTION: 54

QUESTION: 55