QUIZ PMI-RMP - PMI RISK MANAGEMENT PROFESSIONAL FANTASTIC EXAM SIMULATOR ONLINE

Quiz PMI-RMP - PMI Risk Management Professional Fantastic Exam Simulator Online

Quiz PMI-RMP - PMI Risk Management Professional Fantastic Exam Simulator Online

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Tags: Exam PMI-RMP Simulator Online, PMI-RMP Exam Bootcamp, PMI-RMP Valid Test Papers, PMI-RMP Test Collection Pdf, Complete PMI-RMP Exam Dumps

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To qualify for the PMI-RMP exam, individuals must have a minimum of 4,500 hours of experience in risk management and 40 hours of project risk management education. Additionally, individuals must hold a secondary degree, such as a high school diploma or equivalent. PMI-RMP exam itself consists of 170 multiple-choice questions and must be completed within a four-hour timeframe.

PMI-RMP (PMI Risk Management Professional) Exam is a certification exam administered by the Project Management Institute (PMI) that assesses an individual’s knowledge and skills in the area of risk management in project management. PMI-RMP Exam is designed for professionals who are interested in advancing their career in project management and want to demonstrate their expertise in risk management.

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PMI Risk Management Professional Sample Questions (Q59-Q64):

NEW QUESTION # 59
A project team's risk facilitator identifies a number of risks and must prioritize them based on the organization's risk appetite levels. Which technique should be used?

  • A. PERT
  • B. Stakeholder risk profile analysis
  • C. Project scope statement analysis
  • D. Monte Carlo technique

Answer: B


NEW QUESTION # 60
A project manager is trying to realize benefits from new material on an adaptive project. This is the first time the project team is using the material so the team does not have information to identify and analyze risks. A team member informs the project manager that a local university has recently published a research journal on the same material.
Where should the project manager find this information?

  • A. Enterprise environmental factors (EEFs)
  • B. Organizational process assets (OPAs)
  • C. Commercial risk databases
  • D. Industrial studies

Answer: A

Explanation:
Enterprise environmental factors (EEFs) are conditions or circumstances that are not under the control of the project team, but may influence, constrain, or direct the project. EEFs include internal and external factors, such as organizational culture, market conditions, industry standards, government regulations, and academic research. In this case, the project manager should find the information about the new material from the research journal published by the local university, which is an example of an external EEF. This information may help the project manager to identify and analyze the risks associated with the new material and plan appropriate risk responses. Industrial studies, commercial risk databases, and organizational process assets (OPAs) are not the correct choices, as they are not relevant to the question. Industrial studies are systematic investigations of a specific industry or sector, which may provide general information about the market trends, opportunities, and challenges, but not specific information about the new material. Commercial risk databases are sources of information about historical or potential risks that may affect projects in different domains or regions, which may help the project manager to identify common or emerging risks, but not the risks related to the new material. OPAs are the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization, which may help the project manager to follow the established guidelines and practices for risk management, but not to obtain new information about the new material. References: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition. Chapter 2: The Environment in Which Projects Operate, pp. 38-39. 5 Enterprise environmental factors (EEFs) include information from external sources, such as academic research, industry studies, and market conditions. this case, the project manager should refer to the research journal published by the local university as an EEF to gather information about the new material and its associated risks.


NEW QUESTION # 61
in a complex and critical project, a sponsor asks the risk manager to determine where the project's concentration of risks is greatest by performing a quantitative risk analysis. There are no organizational process assets (OPAs)s about the risk categories.
Which tool could the risk manager use to discover the project risk categories?

  • A. Monte Carlo simulation
  • B. Work breakdown structure (WBS)
  • C. Affinity diagram
  • D. Mind mapping

Answer: B

Explanation:
When a project lacks predefined organizational process assets (OPAs) related to risk categories, the risk manager can utilize the Work Breakdown Structure (WBS) to identify potential project risk categories. The WBS decomposes the project scope into manageable components, providing a hierarchical representation of all deliverables and work packages. By analyzing each element of the WBS, the risk manager can systematically identify areas where risks may arise, effectively categorizing them based on project activities and deliverables. This approach ensures a comprehensive assessment of potential risks across all aspects of the project, facilitating targeted risk management efforts.
PMI Risk Management Study Guide References:
The PMI-RMP Exam Preparation Study Guide notes that "the WBS serves as a foundational tool for risk identification, enabling project teams to systematically examine each component for potential risks and categorize them appropriately."


NEW QUESTION # 62
A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.
What should the project team do next?

  • A. Update the project management plan to ensure the results of the opportunities are captured.
  • B. Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
  • C. Log the threats in the risk register to try to minimize the probability of occurrence.
  • D. Log the threats in the risk register to try to maximize the probability of occurrence.

Answer: A

Explanation:
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all the subsidiary plans and baselines from the project management processes1. The project management plan should be updated whenever there are changes in the project scope, schedule, cost, quality, resources, communications, risks, procurements, or stakeholder engagement2. In this case, the project team has decided to log the opportunities in the current project's risk register, which is a component of the project management plan. Opportunities are positive risks that may have a beneficial effect on the project objectives, such as cost savings, schedule acceleration, or quality improvement3. Therefore, the project team should update the project management plan to ensure the results of the opportunities are captured and reflected in the relevant subsidiary plans and baselines. For example, if an opportunity leads to a cost saving, the project team should update the cost management plan and the cost baseline accordingly.


NEW QUESTION # 63
During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites. The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process.
What should the project manager do next?

  • A. Make the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.
  • B. Update the project schedule and inform the stakeholders about the project schedule delay.
  • C. Deal with the issue and instruct the risk manager to include the risk of theft in the issue log.
  • D. Instruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.

Answer: C

Explanation:
Explanation


NEW QUESTION # 64
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