PMI Risk Management Professional v1.0 (PMI-RMP)

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Total 175 questions

Which of the following characteristics would a risk-adverse person or group demonstrate?

  • A. Reasonable comfort with most uncertainty; accepts risk as a normal feature of projects and business, and takes uncertainty in stride with no apparent or significant influence on their behavior.
  • B. Risk taking is a price worth paying for future payoffs; seeks strategies and tactics that have high future payoffs; thinks abstractly and creatively envisioning possibilities, and is not afraid of change oi unknowns.
  • C. Discomfort with uncertainty; low tolerance for ambiguity, and seeks security and resolution when facing risk.
  • D. Adaptable and resourceful, and is not afraid to take action, or even thrill seeking.


Answer : C

A project manager has a two-month project with three project team members. The project sponsor does not agree with the project manager that a risk planning process is necessary, since the project is very small.
Would it be appropriate for the project manager to implement some level of risk management?

  • A. Yes, even small projects may require risk planning.
  • B. No, small projects do not usually require risk planning.
  • C. No, risk planning should be initiated with the sponsorג€™s consent.
  • D. Yes, the risk planning process implementation is ultimately the project manager's decision.


Answer : A

Which of the following would a proactive risk manager do during the Monitoring and Controlling Process?

  • A. Develop risk responses, create risk management plan, and stay alert for risk events.
  • B. Update the lessons learned documents, develop risk responses, and create the risk management plan.
  • C. Review identified risks, stay alert for risk events, and remind team members to keep the risk manager informed about risk triggers.
  • D. Review lessons learned document to identify risks, quantify risks, and lower impact ratings.


Answer : C

A stakeholder is asked to approve additional funding to implement a risk response plan. However, the stakeholder is unsure of the amount that could be approved without escalation.
Where should the stakeholder look to determine the amount that can be approved?

  • A. Project charter
  • B. Risk management plan
  • C. Risk register
  • D. Organizational process assets


Answer : B

A cost analyst team member asks the project manager for the latest risk data for inclusion with the cost estimates for the project. Which tool should the cost analyst team member use to identify the probability of achieving specific cost targets?

  • A. Monte Carlo analysis
  • B. Decision tree analysis
  • C. Analogous estimating
  • D. Brainstorming


Answer : A

The project manager is implementing a computer interface to facilitate communications between two ticketing systems for two major companies in the IT industry.
During the Plan Risk Response process, the project team agrees on the contingency plan that should mitigate the negative impact of the risk. However, during the project execution, one of the subject matter experts identifies a residual risk that was not taken into consideration during the risk response planning session, but could potentially affect the project schedule baseline.
What should the risk manager do to handle this residual risk?

  • A. Increase the management reserve.
  • B. Analyze this risk and update the risk register.
  • C. Accept the risk, since it is minor.
  • D. Reject the risk, since the risk plan will take care of all the risks.


Answer : B

The risk management process can be defined as which of the following?

  • A. Iterative through the planning phase
  • B. Baselined at the beginning of execution
  • C. Iterative throughout the entire project
  • D. Updated in the execution phase


Answer : C

A risk manager creates a survey for project stakeholders to obtain their opinions on high levels of risk. Key questions in the survey address acceptable levels of cost increases and schedule delays.
What is the risk manager trying to determine?

  • A. Risk urgency
  • B. Risk exposure
  • C. Risk threshold
  • D. Risk attitude


Answer : C

Which of the following will ultimately determine risk thresholds?

  • A. The absolute value of the consequence
  • B. The risk appetite of the key stakeholders
  • C. The practice standard for risk management
  • D. The project manager


Answer : B

Which of the following represents levels of risk attitude?

  • A. Conservative, moderate, and liberal
  • B. Risk-averse, risk-neutral, risk-tolerant, risk-seeking
  • C. Risk-mitigating, risk-avoiding, risk-transferring, risk-accepting
  • D. High, medium, and low


Answer : B

Which of the following should multicultural groups be aware of on a project relative to risk?

  • A. Problematic risk management practices
  • B. Multicultural beta risk management software
  • C. Differences regarding risk attitudes and emotional literacy
  • D. "Parent-child" risk relationships


Answer : C

Project stakeholders identify, analyze, and plan the risk responses for a project. However, the contingency reserves are depleted before the project is completed.
What recommendation could be implemented to prevent this from recurring?

  • A. Use the Monte Carlo simulation.
  • B. Implement a reserve analysis process.
  • C. Conduct more frequent reserve watch list status meetings.
  • D. Increase the contingency reserve.


Answer : B

During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customer's electrical infrastructure. This event was not originally identified as a risk. To maintain the project schedule, the project manager decides to purchase a new power adapter.
What type of response best describes this course of action?

  • A. Contingency plan
  • B. Management plan
  • C. Fall-back plan
  • D. Workaround


Answer : D

After a risk review meeting, three key risks are identified as likely to be realized. The project manager requests a risk scenario be calculated to establish the impact on the budget.
What is the forecasting methodology that should be utilized to calculate the impact?

  • A. Estimate to complete (ETC)
  • B. Budget at completion (BAC)
  • C. Estimate risk completion (ERC)
  • D. Estimate at completion (EAC)


Answer : D

A risk has been identified in a multi-functional project. The project manager decides to take no action.
What type of response is this considered?

  • A. Avoidance
  • B. Exploitation
  • C. Procrastination
  • D. Acceptance


Answer : D

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Total 175 questions