Risk Management Professional Exam Exam Questions PDF download

QUESTION: 66

You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?

The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
The project's cost management plan provides direction on how costs may be changed due to identified risks.
The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
The project's cost management plan is not an input to the quantitative risk analysis process.

Answer(s): C

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QUESTION: 67

You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?

All risks must have a valid, documented risk response.
These risks can be accepted.
These risks can be added to a low priority risk watch list.
These risks can be dismissed.

Answer(s): C

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QUESTION: 68

You are the project manager of a new project in your organization. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?

Cause-and-effect diagrams
Project network diagrams
Delphi Technique
Decision tree analysis

Answer(s): D

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QUESTION: 69

You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

Some responses are designed for use only if certain events occur.
Some responses have a cost and a time factor to consider for each risk event.
Some responses must counteract pending risk events.
Quantified risks should always have contingency responses.

Answer(s): A

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QUESTION: 70

Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?

Project risk assessment officer
Project management office
Project sponsor
Project manager

Answer(s): D

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QUESTION: 70