[Link].

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PMI PMI-RMP real exam samples are available below.

1.A large, land-based infrastructure project has begun. The project makes
assumptions about the site conditions and has economic, technical, and
environmental constraints
What should the project manager do next to determine risk impact of
assumptions and constraints?
A. Add all assumptions and constraints to the risk register.
B. Add the risk impact of the assumptions in the risk register.
C. Add the assumptions and constraints to the assumption log.
D. Add the assumptions and constraints in the project charter.
Answer: C
Explanation:
The project manager should add the assumptions and constraints to the
assumption log to track and analyze their impact on the project. The assumption
log is a project document that records all project assumptions and constraints
throughout the project life cycle. (Reference: PMBOK Guide, 6th Edition, p. 89)
The project manager should add the assumptions and constraints to the

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assumption log, which is a project document that records the assumptions and
constraints that affect the project scope, schedule, cost, and quality. The
assumption log can help the project manager to identify and analyze the risks
that may arise from the validity of the assumptions and the impact of the
constraints. The assumption log can also be used as an input for the Identify
Risks process, where the project manager can determine the risk impact of the
assumptions and constraints and add them to the risk register accordingly.
Reference: PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide), Sixth Edition, 2017, p. 38, 397.

2.A project team working on a large software deployment project for a few
months has been able to prevent a technical risk from occurring. However, an
incident took place and triggered the technical issue.
What should the risk manager do?
A. Execute the risk response plan defined for the risk.
B. Postpone the software launch to sort out the technical issue.
C. Assess the impacts and define the response actions with the subject matter
experts (SMEs).
D. Meet with the project manager to revisit the project schedule.
Answer: A

3.A project team has completed the risk identification steps in a project and
compiled a list of 25 risks.
The team wants to create response plans for all the risks to avoid any future
issues, but the resources and constraints limit the options.
What should the risk manager do?
A. Perform a sensitivity analysis.
B. Perform a qualitative risk analysis.
C. Perform a constraint analysis.
D. Perform a root-cause analysis.
Answer: B
Explanation:
With 25 identified risks, and considering the constraints and resources available,
the appropriate next step is to perform a qualitative risk analysis. This process
helps prioritize the risks based on their probability and impact, as well as other
relevant factors like urgency, proximity, and detectability. By doing so, the team
can focus on the most significant risks that require immediate attention and
develop response plans accordingly, optimizing the use of available resources.
PMI recommends this approach to ensure that risk management efforts are both

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 [Link]

efficient and effective in addressing the most critical risks first.

4.A project team does not understand why a very low probability risk occurred
during project execution. The team was especially vigilant about planning for this
type of risk during the risk planning phase. The project has been delayed by 2
months, and the stakeholders are considering canceling the project. The risk
manager needs to demonstrate that the project can be concluded.
Which analysis should the risk manager perform to demonstrate this to the
stakeholders?
A. Monte Carlo analysis
B. Pareto analysis
C. Ishikawa analysis
D. Qualitative risk analysis
Answer: A
Explanation:
In this scenario, a low-probability risk has occurred, leading to a significant
project delay. To demonstrate to stakeholders that the project can still be
concluded successfully, it's essential to identify the root cause of this unexpected
event. An Ishikawa diagram, also known as a fishbone diagram or cause-and-
effect diagram, is a tool that helps in identifying the various potential causes of a
specific problem or effect. By systematically exploring all possible causes, the
project team can pinpoint the underlying issues that led to the risk event.
Understanding these root causes enables the team to implement corrective
actions and preventive measures, thereby assuring stakeholders of the project's
viability and the team's commitment to addressing unforeseen challenges
effectively. PMI Risk Management Study Guide
Reference: The PMI-RMP Exam Preparation Study Guide emphasizes the
importance of root cause analysis in risk management, stating that tools like the
Ishikawa diagram are instrumental in uncovering the fundamental reasons behind
unexpected risk events, which is crucial for developing effective mitigation
strategies.

[Link] organization faces immense competition in the market and decides to

accelerate a key project.
What is the first action for the project risk manager to take?
A. Update the risk register
B. Meet with the project's stakeholders
C. Revise the risk management plan
D. Ensure sufficient resources are available

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 [Link]

Answer: C
Explanation:
According to the PMBOK® Guide1, the risk management plan is a component of
the project management plan that describes how risk management activities will
be structured and performed. It provides guidance on how the project team will
identify, analyze, respond, monitor, and control risks throughout the project life
cycle. The risk management plan should be reviewed and updated whenever
there are changes in the project scope, schedule, budget, or objectives, as these
changes may introduce new risks or affect the existing ones. In this case, the
organization’s decision to accelerate a key project is a significant change that
may alter the risk profile of the project. Therefore, the first action for the project
risk manager to take is to revise the risk management plan to reflect the new
situation and ensure that the risk management processes are aligned with the
project objectives and constraints. This is part of the Plan Risk Management
process in the PMBOK® Guide1.
Reference: 1: A Guide to the Project Management Body of Knowledge (PMBOK®
Guide) C Sixth Edition

[Link] project implementation, a risk manager wants to determine the

effectiveness of risk response plans and which risk will have an impact on the
project outcome.
Which analysis should the risk manager do?
A. Perform Pareto analysis.
B. Perform sensitivity analysis.
C. Perform contingency analysis.
D. Perform qualitative analysis.
Answer: B
Explanation:
The correct answer is B. Perform sensitivity analysis.
Sensitivity analysis is used to determine which individual risks or uncertainties
have the greatest effect on overall project outcomes. It helps the risk manager
understand which variables or risks matter most and therefore where response
efforts are most critical. In this question, the risk manager wants to know which
risk will have an impact on the project outcome and to assess the effectiveness
of response planning by understanding impact drivers. Sensitivity analysis is the
best fit for that purpose.
This technique is commonly used in quantitative risk analysis to identify which
uncertainties most influence objectives such as cost, schedule, or performance. It
often supports prioritization of risk responses by showing where management
attention will produce the greatest benefit.

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 [Link]

Why the other options are incorrect:

A. Perform Pareto analysis.
Pareto analysis helps identify the most significant contributors among a group of
causes or issues, but it is not the primary risk analysis technique used to
determine which uncertainties most affect project outcomes in a structured risk
context.
C. Perform contingency analysis.
Contingency analysis is not the standard technique for identifying which risks
most influence project outcomes. Contingency reserves may be determined from
risk analysis results, but this option does not directly answer the question.
D. Perform qualitative analysis.
Qualitative analysis assesses probability, impact, urgency, and other relative
characteristics, but it does not specifically show how much each risk affects the
final project outcome compared with others. Sensitivity analysis provides that
deeper insight.
Best-practice reasoning:
When a project team needs to identify the risks with the greatest influence on
outcomes, sensitivity analysis is the preferred method because it isolates the
variables that drive uncertainty and highlights where response plans matter most.
Reference-aligned basis:
This answer is consistent with standard risk management guidance that
emphasizes:
sensitivity analysis as a method to determine which risks have the greatest
potential effect on project results,
use of analysis outputs to focus response planning and management attention,
support for quantitative understanding of outcome drivers.
Reference: PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide), Perform Quantitative Risk Analysis
PMI, Practice Standard for Project Risk Management
ISO 31000, risk analysis principles

7.A supplier Is delayed in delivering fuel for a project. The project manager
anticipated this risk and is requesting fuel from another supplier. When speaking
with the other supplier, a new risk appears because fulfilling the order will cause
delays with several other projects.
After performing a detailed analysis, what should the risk manager do?
A. Escalate the problem to the project sponsors.
B. Execute the approved risk response plan.
C. Negotiate with the supplier to resolve the problem.
D. Assign a team member to update the issue leg.

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Answer: B
Explanation:
According to the PMI Risk Management Professional (PMI-RMP)® Examination
Content Outline1, one of the tasks in the domain of Risk Response is to execute
the approved risk response plan in accordance with project guidelines and
procedures1. A risk response plan is a component of the project management
plan that describes the agreed-upon and funded actions to address the project
risks, both positive and negative2. In this scenario, the risk manager should
execute the approved risk response plan to deal with the new risk that appears
when requesting fuel from another supplier, which will cause delays with several
other projects. The risk response plan should have been developed and
approved during the risk response planning process, which involves selecting
and prioritizing the appropriate risk strategies and actions for each risk3. The risk
response plan should also be aligned with the project guidelines and procedures,
which are the rules and directions that define the project’s scope, schedule, cost,
quality, and other aspects4. The risk manager should not escalate the problem to
the project sponsors, because that is not a risk response strategy, but rather a
way to seek higher-level authority or support for a risk that is outside the
project’s scope or influence5. The risk manager should not negotiate with the
supplier to resolve the problem, because that is not a risk response strategy, but
rather a procurement management technique that involves reaching a mutually
acceptable agreement with the supplier on the terms and conditions of the
contract6. The risk manager should not assign a team member to update the
issue log, because that is not a risk response strategy, but rather a risk
monitoring and reporting technique that involves tracking and documenting the
issues that have occurred or are currently affecting the project7.
Reference: 1: PMI Risk Management Professional (PMI-RMP)® Examination
Content
Outline, page 102: A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth
Edition, page 4143: A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth
Edition, page 4404: A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth
Edition, page 385: A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth
Edition, page 4376: A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth
Edition, page 4717: What Is an Issue Log? Templates & Tips7.

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8.A risk manager administered a pre-workshop risk survey in preparation for the
upcoming workshop. The workshop invitees participated in the survey and
submitted many risks encompassing all project phases and risk areas. The risk
manager sorts risks by similarities and categories for the workshop.
What should the risk manager do next to visually organize the risks?
A. Develop an affinity diagram
B. Perform the analytical hierarchy process
C. Perform a SWOT analysis
D. Assign probability and impact
Answer: A
Explanation:
An affinity diagram is a tool used to visually organize and group risks or ideas
based on their similarities and categories. It helps in structuring the risks for
further analysis and discussion. (Reference: PMBOK Guide, 6th Edition, p. 138)
According to the PMBOK Guide, an affinity diagram is a tool and technique for
the identify risks process that allows large numbers of ideas to be sorted into
groups for review and analysis. An affinity diagram can help the risk manager to
visually organize the risks identified in the pre-workshop survey by grouping them
into categories based on their similarities or common characteristics. This can
help the risk manager to facilitate the risk analysis and prioritization in the
workshop, as well as to stimulate new patterns of thinking and generate
additional risks. Some of the other options are not relevant or appropriate for the
question scenario:
The analytical hierarchy process is a technique for the plan risk management
process that provides a method for comparing and ranking alternatives based on
multiple criteria. It is not a tool for visually organizing risks.
A SWOT analysis is a technique for the identify risks process that examines the
project from the perspective of its strengths, weaknesses, opportunities, and
threats. It is not a tool for visually organizing risks, but rather for generating them.
Assigning probability and impact is a technique for the perform qualitative risk
analysis process that assesses the likelihood and the potential effect of each
individual risk on the project objectives. It is not a tool for visually organizing
risks, but rather for evaluating them.
: PMBOK Guide, 6th edition, pages 397-399, 414-415, 431-432, 441-442; PMI-
RMP Exam Content Outline, 2015, page 7.

9.A two-year project with a budget of US$2 million has completed about 60% of
the work at the end of the first year. The actual cost incurred to complete the
remaining 40% of work is about USS1.5 million. As a part of performing a
specialized risk analysis, the calculated schedule performance index (SPI) is 1.2

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 [Link]

and cost performance index (CPI) is 0.53.

How should the risk manager interpret such a low CPI value?
A. The cost control processes is ineffective.
B. The cost baseline is inaccurate.
C. The actual reported costs are inaccurate.
D. The cost related risks are effectively managed.
Answer: B
Explanation:
A low CPI value (0.53) indicates that the project is over budget. This may be due
to an inaccurate cost baseline, which means the initial budget estimation was not
correct. This would not necessarily mean that cost control processes are
ineffective, actual reported costs are inaccurate, or cost-related risks are
effectively managed.
The CPI value is calculated by dividing the earned value (EV) by the actual cost
(AC). A CPI value of less than 1 indicates that the project is over budget,
meaning that the actual cost is higher than the planned cost. A low CPI value can
have several possible causes, such as poor estimation, scope creep, change
requests, or inaccurate reporting. However, in this case, the SPI value is greater
than 1, which indicates that the project is ahead of schedule, meaning that the
earned value is higher than the planned value. This suggests that the cost
baseline, which is derived from the planned value, is inaccurate and does not
reflect the true cost of the work. Therefore, the risk manager should interpret
such a low CPI value as a sign of an inaccurate cost baseline, and not as a result
of ineffective cost control processes, inaccurate actual costs, or effective cost
related risk management.
Reference: PMI-RMP® Certification Handbook1, page 9; PMBOK® Guide, page
267.

10.A risk manager for a new product development project has worked diligently
with stakeholders and the project team to identify and document risks. These
project risks vary widely in probability and impact.
Which three actions should the risk manager take to inform the identification of
resource requirements for individual risk responses? (Choose 3).
A. Work with the project team to conduct a decision tree analysis for each risk or
set of related risks.
B. Calculate the expected monetary value (EMV) of each risk and use these
outputs to inform and defend project reserves.
C. Conduct a Monte Carlo simul-ation to understand the probabilities of various
risk outcomes.
D. Use the risk breakdown structure (RBS) to calculate the total cost of mitigating

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all risks and ensure project reserves are adequate to cover this amount.
E. Focus attention and resources on identified risks with the highest potential to
impact the project.
Answer: A,B,E
Explanation:
To effectively inform the identification of resource requirements for individual risk
responses, the risk manager should undertake the following actions:

11.A risk manager notices that a risk owner is facing challenges implementing
their response strategy and the costs are significantly exceeding expectations.
What is the first thing the risk manager should do?
A. Highlight this situation to the project manager
B. Conduct a cost-benefit analysis
C. Change the risk response strategy
D. Analyze the situation and meet with the risk owner
Answer: D
Explanation:
The first thing the risk manager should do is analyze the situation and meet with
the risk owner. This will allow the risk manager to understand the challenges
faced by the risk owner and work with them to find a solution. Conducting a cost-
benefit analysis or changing the risk response strategy may be necessary, but it
is important to first understand the situation before taking any action.
According to the PMI-RMP Exam Content Outline, one of the tasks in the domain
of Risk Response Planning is to “assist the risk owners in developing and
implementing risk response strategies and actions based on the agreed-upon risk
response plan”. Therefore, the first thing the risk manager should do is to
analyze the situation and meet with the risk owner to understand the root cause
of the challenges and the cost overrun, and to discuss possible solutions or
alternatives. Highlighting this situation to the project manager, conducting a cost-
benefit analysis, or changing the risk response strategy are possible actions that
can be taken after the analysis and meeting, but not before.
Reference: PMI-RMP Exam Content Outline, Domain 3: Risk Response
Planning, Task 31

[Link] organization is executing two projects ? Project A and Project B ?

simultaneously. A previously identified risk will impact the schedule for Project A.
While executing the mitigation plan, a number of residual risks are identified that
could provide cost savings for Project B.
Which action should the risk manager for Project A take?
A. Review the findings in Project A's closure documents and propose a new

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 [Link]

organizational process for portfolio risk management.

B. Consult with Project B's risk manager and determine where synergies might
exist between the risk management plans for both projects.
C. Combine the risk registers for Project A and Project B and determine if there
are any additional cross-project opportunities to exploit.
D. Continue executing the planned risk mitigation to avoid any additional
schedule impact to Project A.
Answer: B
Explanation:
Collaborating with other project risk managers ensures cross-project
opportunities and risks are leveraged or mitigated appropriately.
The PMBOK® Guide encourages this approach:
"When risks or opportunities cross project boundaries, risk managers should
consult with other project teams to identify synergies and dependencies."
? PMBOK® Guide, 6th Edition, Section 11.1
Reference: PMBOK® Guide, 6th Edition, Section 11.1

13.A risk manager of a major project facilitates a meeting to develop the risk
management plan.
What two factors does the risk manager need to consider to ensure an effective
risk management plan is developed? (Choose two.)
A. Applying modern risk management techniques.
B. Aligning to project constraints and priorities.
C. Ensuring risk response strategies mitigate all risks.
D. Minimizing implementation costs.
E. Obtaining stakeholder acceptance
Answer: B,E
Explanation:
To ensure an effective risk management plan, the risk manager needs to
consider aligning the plan to project constraints and priorities and obtaining
stakeholder acceptance, as these factors will help ensure that the plan is relevant
and supported by the project team and stakeholders.
According to the PMI-RMP Handbook, the risk management plan is a document
that describes how risk management activities will be structured and performed
on the project. It is one of the main outputs of the Plan Risk Management
process. The risk management plan should consider the following factors to
ensure its effectiveness:
Aligning to project constraints and priorities: The risk management plan should
be aligned with the project objectives, scope, schedule, cost, quality, resources,
and stakeholder expectations. It should also reflect the project’s risk appetite,

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tolerance, and threshold levels, which indicate the degree of uncertainty that the
project can accept. The risk management plan should prioritize the risk
management activities based on the project’s critical success factors and key
performance indicators. Obtaining stakeholder acceptance: The risk
management plan should be developed with the involvement and input of key
stakeholders, such as the project sponsor, customer, team members, subject
matter experts, and other relevant parties. The risk management plan should be
communicated and approved by the stakeholders to ensure their commitment
and support for the risk management process. The risk management plan should
also define the roles and responsibilities of the stakeholders in risk management,
as well as the reporting and escalation mechanisms.
The other options are not valid factors for ensuring an effective risk management
plan: Applying modern risk management techniques: The risk management plan
should apply the appropriate risk management techniques that suit the project’s
context, complexity, and characteristics. The techniques should be based on the
best practices and standards of the profession, such as the PMBOK® Guide and
the Practice Standard for Project Risk Management. The techniques do not have
to be modern or innovative, as long as they are effective and efficient. Ensuring
risk response strategies mitigate all risks: The risk management plan should
define the risk response strategies that will be used to address the identified
risks. However, the risk response strategies do not have to mitigate all risks, as
some risks may be accepted, transferred, or avoided. The risk response
strategies should be based on the risk analysis and evaluation, which consider
the probability and impact of the risks, as well as the cost and benefits of the
responses.
Minimizing implementation costs: The risk management plan should consider the
budget and resources available for the risk management activities. However, the
risk management plan should not aim to minimize the implementation costs at
the expense of the quality and effectiveness of the risk management process.
The risk management plan should balance the costs and benefits of the risk
management activities, and ensure that they provide value to the project.
: PMI-RMP Handbook1, PMBOK® Guide2, Practice Standard for Project Risk
Management2

14.A budget change request was initiated by a functional manager in an

organization due to a shortage in the functional manager's department budget.
The functional manager asks the CEO to approve utilization of a contingency
budget reserved for one of the projects in its closing phase.
What should the risk manager of the related project have done to prevent this
situation from happening?

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 [Link]

A. Reformed the risk monitoring and closing process properly.

B. Created the project work plan and budget more accurately.
C. Educated the project team on budget change requests.
D. Communicated better with the organization's CEO.
Answer: A
Explanation:
According to the PMI Risk Management Professional (PMI-RMP)® Handbook1,
one of the domains of the PMI-RMP exam is Risk Monitoring and Reporting,
which involves tracking identified risks, monitoring residual risks, identifying new
risks, executing risk response plans, and evaluating risk process effectiveness
throughout the project1. The risk manager of the related project should have
reformed the risk monitoring and closing process properly to ensure that the
contingency budget is only used for the intended risks and not for other
purposes. The risk manager should have also communicated the status and
outcomes of the risk activities to the relevant stakeholders, such as the functional
manager and the CEO, to avoid any confusion or conflict over the budget
allocation1.
Reference: 1: PMI Risk Management Professional (PMI-RMP)® Handbook, page
6.
The risk manager should have ensured a more accurate project work plan and
budget to prevent the functional manager from requesting to use the project's
contingency budget. A well-planned budget would have avoided the shortage in
the functional manager's department budget.

[Link] project manager reviews project risks with the risk manager to update,
monitor, and close risks in the risk register. The project manager determines one
of the risks has a residual risk.
How should the risk manager document the impact of the residual risk?
A. Utilize change management tools to request a budget increase from the
project sponsor and update the risk register.
B. Change the risk identification and description on the risk register to reflect the
fact that the residual risk has materialized.
C. Close the risk's status on the risk register since the residual risk has now
materialized.
D. Review the impact of the residual risk against the budget reserves and
document the update in the risk register.
Answer: D
Explanation:
In risk management, when a residual risk is identified, it is crucial to reassess its
impact on the project's overall risk profile. Residual risks are those risks that

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 [Link]

remain even after all mitigation strategies have been applied. According to best
practices and the procedures outlined in the documents provided, particularly in
the "Risk Management Procedure" and the "Risk Assessment" guidelines, the
appropriate steps to manage residual risks involve:

[Link] a number of risk workshops, risks have been identified.

Which is the first element the risk owner should look for in the response plan to
help mitigate the risks?
A. Probability of a response triggering a secondary risk
B. How the response will affect the quality of the components
C. If the risk response is tied to an activity on the critical path
D. Verify due dates for the actions have been identified
Answer: D
Explanation:
The first element the risk owner should look for in the response plan is to verify
that due dates for the actions have been identified. This ensures that risk
mitigation actions are timely and can be effectively monitored.
After identifying the risks and assigning risk owners, the next step is to develop
risk response plans that describe how to address each risk. The first element that
the risk owner should look for in the response plan is the due date for the actions
that are required to implement the response. The due date is important because
it helps to prioritize the risk response activities, monitor the progress of the risk
response, and ensure that the response is executed in a timely manner. The due
date also helps to align the risk response with the project schedule and avoid any
delays or conflicts. The other elements, such as the probability of a secondary
risk, the impact on the quality of the components, and the relationship with the
critical path, are also relevant for the risk response plan, but they are not the first
element that the risk owner should look for.
Reference: PMI, 2017. A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth Edition. Newtown Square, PA: Project Management
Institute, Inc., pp. 407-4081

17.A project team is overseeing the construction of a new office building. The
project is complex, involving multiple contractors, regulatory requirements, and a
tight schedule. During a team meeting, the risk manager realizes that a formal
risk identification exercise has not yet been conducted.
Given the project's complexity, what should the risk manager do?
A. Wait until halfway through the project to identify risks, as most issues will be
clear by then.
B. Conduct the exercise with the key team members, excluding external

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 [Link]

stakeholders.
C. Facilitate a risk identification exercise with key stakeholders, considering all
factors.
D. Focus only on identifying the most obvious risks to save time and project
resources.
Answer: C
Explanation:
For complex projects, facilitating a risk identification exercise with key
stakeholders ensures thoroughness.
PMBOK® Guide recommends:
"Formal risk identification with all relevant stakeholders is critical, particularly in
complex projects, to ensure all potential risks are recognized."
? PMBOK® Guide, 6th Edition, Section 11.2
Reference: PMBOK® Guide, 6th Edition, Section 11.2

[Link] scope of a large mobile network deployment project includes equipment

to be furnished by the customer. The risk manager is concerned that the
equipment delivery might be delayed, causing additional delays in the project.
What should the risk manager do?
A. Follow up on the schedule and assess the best course of action if any delays
are detected.
B. Ensure the equipment constraint is well-documented and manage it as a high-
impact project risk.
C. Raise the issue with the project sponsor so it can be handled as a sales or
contractual matter.
D. Obtain a signed commitment from the customer that equipment will be
delivered on time.
Answer: B
Explanation:
When a project involves equipment provided by the customer, the risk of delayed
delivery is significant, as it can have a high impact on the project timeline. The
risk manager should ensure that this risk is well-documented in the risk register
and managed as a high-impact project risk. By doing so, the project team can
monitor the situation closely and implement contingency plans if necessary. This
approach is consistent with PMI’s guidelines on risk management, which
emphasize the importance of identifying, documenting, and managing high-
impact risks to mitigate their effects on project objectives.

19.A risk manager is working on the risk management plan for a new digital

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platform and realizes the project sponsor, who is the IT manager, has not been
invited to the project team meetings. The IT manager is concerned that the IT
infrastructure is unable to host the new platform the team is creating. The risk
manager asks the IT manager to be included in the meetings.
What should the IT manager's role be in the project team meetings?
A. The IT manager should be included as a risk owner.
B. The IT manager should refine the project baseline plans.
C. The IT manager should be added as a project sponsor.
D. The IT manager should lead the infrastructure execution.
Answer: A
Explanation:
A risk owner is the person assigned to manage, monitor, and report on a specific
risk. When the IT manager has unique insight or control over risks associated
with IT infrastructure, they should be formally assigned as a risk owner for those
risks.
The PMBOK® Guide emphasizes:
“Risk owners are identified during the risk management planning process and
should be engaged in relevant meetings and risk discussions. Assigning the IT
manager as a risk owner ensures proper accountability for IT-related risks.”
? PMBOK® Guide, 6th Edition, Section [Link] (Risk Register: Risk Owner) This
promotes ownership, accountability, and effective risk management.
Reference: PMBOK® Guide, 6th Edition, Section [Link]
Practice Standard for Project Risk Management, PMI, Section 5.3

[Link] project team recorded a risk in the risk register indicating that weather-
related delays may impact equipment delivery during project execution. When it
is time to request the equipment shipment there is bad weather, but the client
wants the equipment delivered anyway.
What should the project manager do?
A. Wait until the weather improves before sending the equipment.
B. Ask the project sponsor to approve shipping the equipment.
C. Proceed with the planned risk response to move the equipment.
D. Request the shipment of the equipment to satisfy the client.
Answer: C
Explanation:
The project manager should proceed with the planned risk response to move the
equipment, as this is the best way to deal with the weather-related risk that was
identified and recorded in the risk register. A risk register is a document that lists
all the identified risks, their causes, impacts, probabilities, and responses for a
project1. A risk response is a strategy or action that is taken to reduce the

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negative effects or enhance the positive effects of a risk event2. A risk response
should be planned and executed according to the risk management plan, which
is a document that describes how risk management activities will be structured
and performed on a project3. The risk management plan should also define the
roles and responsibilities, risk categories, risk appetite and thresholds, risk
identification and analysis methods, risk response strategies, risk monitoring and
reporting mechanisms, and risk governance mechanisms3. Therefore, the project
manager should follow the risk management plan and the risk register to
implement the planned risk response to move the equipment, as this is the most
effective and efficient way to manage the risk and meet the project objectives.
Waiting until the weather improves before sending the equipment, asking the
project sponsor to approve shipping the equipment, or requesting the shipment of
the equipment to satisfy the client are not the best options to deal with the
weather-related risk. Waiting until the weather improves may cause further
delays and increase the cost and scope of the project, as well as damage the
relationship with the client. Asking the project sponsor to approve shipping the
equipment may not be necessary or feasible, as the project sponsor may not
have the authority or the availability to make such a decision. Requesting the
shipment of the equipment to satisfy the client may not be realistic or safe, as the
bad weather may pose a threat to the quality and integrity of the equipment, as
well as the health and safety of the people involved in the transportation. These
options may also deviate from the risk management plan and the risk register,
which may create confusion and inconsistency in the risk management process.
Reference: 1, 2, 3.

21.A project team is discussing which risk requires more attention and resources
for response planning. The team evaluated the schedule to determine which
activity had the greatest impact on the project's total duration.
After analyzing the quantitative analysis results, which activity should the team
pay more attention to?
Use the chart for the analysis.

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 [Link]

A. Activity 3.2
B. Activity 2.3
C. Activity 3.5
D. Activity 1.2
Answer: A

22.A new vice president in one of its divisions observed that the portfolio of
projects within their division experienced significant variations beyond the ±10%
established threshold with the potential of not achieving its overall business
goals. Hence, they directed all project leaders and sponsors to ensure that they
set and work toward more stringent thresholds of ±5% and reports on the basis
of any variance outside that range.
How should the risk manager respond?
A. Assess the impacts of this change but do nothing as the project is still within
the enterprise-wide threshold.
B. Assess and modify the project risk management plan in response to the new
directive.
C. Accept project risks since it is already within the enterprise-wide threshold.
D. Advise that the decision could increase the risk of their portfolio exponentially.

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Answer: B
Explanation:
Whenever new organizational directives or changes in risk thresholds are
communicated, the risk manager is required to assess the impact and update the
risk management plan to reflect these changes. The PMBOK® Guide states:
“When organizational risk thresholds or tolerances are changed, the risk
management plan and associated processes must be updated to ensure
alignment with current requirements.” ? PMBOK® Guide, 6th Edition, Section
[Link] (Risk Management Plan: Updates)
This ensures that risk responses, monitoring, and reporting are in accordance
with the most current
strategic direction and tolerances.
Reference: PMBOK® Guide, 6th Edition, Section [Link]
Practice Standard for Project Risk Management, PMI, Section 3.3

23.A risk manager wants to determine what risk has the biggest impact on project
cost. The risk manager identified three risks, which could occur in different
phases of the project.
What should the risk manager do first to understand the impact on project cost?
A. Conduct a subject matter expert (SME) meeting.
B. Perform qualitative analysis.
C. Prioritize after quantitative analysis
D. Prioritize the stakeholders affected.
Answer: B

24.A new risk manager has been hired on a project and meets with the project
director. The project director supplies the project's risk register and asks the risk
manager for an analysis of its effectiveness.
What two actions should the risk manager do next? (Choose two.)
A. Check to ensure that the risk is supported by a Monte Carlo simul-ation.
B. Check to ensure that the risks are gathered using Delphi technique.
C. Check for risk classification and that probability and impact are identified.
D. Check to ensure that risk origin, triggering event, and ownership is identified.
E. Check to ensure the risk meeting agenda and supporting documents are
distributed.
Answer: C,D
Explanation:
The risk manager should first check the risk register for proper risk classification,
probability, and impact (C), as these are essential components of an effective risk

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management process. Next, the risk manager should ensure that the risk origin,
triggering events, and ownership are identified (D), as this information helps in
assigning responsibilities and taking appropriate actions for each risk. Reference
to these steps can be found in the Project Management Institute's (PMI) A Guide
to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition.
The risk manager should check for risk classification and that probability and
impact are identified, as these are essential elements of a risk register. Risk
classification helps to group risks into categories based on their sources, types,
or impacts, which can facilitate risk analysis and response planning. Probability
and impact are the two dimensions of risk assessment, which help to measure
the likelihood and severity of a risk event, and to prioritize risks based on their
significance. The risk manager should also check to ensure that risk origin,
triggering event, and ownership is identified, as these are also important
components of a risk register. Risk origin refers to the root cause or source of a
risk, which can help to understand the nature and characteristics of a risk, and to
devise effective risk responses. Triggering event is a specific occurrence or
condition that indicates that a risk event has occurred or is about to occur, which
can help to monitor and control risks. Ownership is the assignment of a risk to a
person or a group who is responsible for managing the risk, which can help to
ensure accountability and communication. The risk manager should not check to
ensure that the risk is supported by a Monte Carlo simul-ation, as this is not a
mandatory or universal requirement for a risk register. Monte Carlo simul-ation is
a quantitative risk analysis technique that uses computer-generated random
scenarios to model the possible outcomes of a project, based on the probability
distributions of the input variables. While this technique can provide useful
information about the overall project risk exposure and the probability of
achieving project objectives, it is not a necessary or sufficient condition for an
effective risk register. The risk manager should not check to ensure that the risks
are gathered using Delphi technique, as this is also not a compulsory or
exclusive requirement for a risk register. Delphi technique is a qualitative risk
identification technique that uses a panel of experts to anonymously provide their
opinions on potential risks, which are then aggregated and refined through a
series of rounds until a consensus is reached. While this technique can help to
elicit expert judgment and reduce bias, it is not the only or the best way to identify
risks. The risk manager should not check to ensure the risk meeting agenda and
supporting documents are distributed, as this is not a relevant or appropriate
action for analyzing the effectiveness of a risk register. The risk meeting agenda
and supporting documents are part of the risk management plan, which
describes how the project team will conduct risk management activities, such as
identifying, analyzing, responding, and monitoring risks. The risk meeting agenda
and supporting documents are useful for planning and conducting risk meetings,

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but they are not part of the risk register, which is the output of the risk
identification process and the input for the risk analysis and response processes.
Reference: PMI. (2017). A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) C Sixth Edition. Chapter 11: Project Risk Management, pp.
395-454. 5

25.A software development project team was preparing for a phased release
when an unknown and unexpected risk occurred with potential for delaying one
of the features for the planned release. The project team decided to go ahead
with the release and address this missing feature at a later date. One of the end
users learned about this and strongly opposed the planned release.
What should the risk manager have done to prevent this situation?
A. Engaged the sponsor and informed them of the decision to remove the
planned feature.
B. Engaged the stakeholders more in risk management activities and decisions to
get their buy-in and support.
C. Performed proper risk identification at the project outset to ensure this risk was
identified and mitigated.
D. Created a schedule buffer in the plan to deal with unknown risks if and when
they occurred.
Answer: B
Explanation:
Stakeholder engagement is critical in risk management, especially when
decisions may impact project deliverables. By involving stakeholders more in risk
management activities and decision-making processes, the risk manager could
have ensured that all parties were aware of potential changes and their
implications. This engagement helps in securing stakeholder buy-in and support,
thus preventing situations where stakeholders might oppose decisions after the
fact. PMI’s risk management framework emphasizes the importance of
continuous and active stakeholder engagement throughout the project lifecycle.

[Link] conducting a risk identification exercise, what two actions should the
risk manager take? (Choose two.)
A. Request a contingency reserve from management
B. Arrange a team meeting, review the project's scope, and discuss dependency
mapping
C. Ensure participants review relevant documents before attending the meeting
D. Ensure that all the relevant stakeholders participate
E. Update the risk register during the team meeting.

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Answer: B,D
Explanation:
According to the PMBOK Guide, one of the tools and techniques for the identify
risks process is data gathering. Data gathering is the process of collecting
information from various sources to identify potential risks that may affect the
project objectives. Some of the data gathering techniques are brainstorming,
interviews, checklists, assumption and constraint analysis, and document
analysis1. To conduct a risk identification exercise using data gathering
techniques, the risk manager should take the following actions:
Arrange a team meeting, review the project’s scope, and discuss dependency
mapping. This action can help the risk manager to facilitate a brainstorming
session with the project team and other subject matter experts, where they can
generate a list of potential risks based on the project scope and the
dependencies among the project activities. Dependency mapping is a technique
that helps to identify the relationships and interdependencies among the project
components, such as tasks, resources, deliverables, and stakeholders2. By
reviewing the project scope and discussing the dependency mapping, the risk
manager can ensure that the risk identification exercise covers all the relevant
aspects of the project and does not miss any important risk sources.
Ensure that all the relevant stakeholders participate. This action can help the risk
manager to obtain different perspectives and insights from the stakeholders who
have different roles, interests, and expectations in the project. Stakeholders are
individuals or groups who can affect or be affected by the project outcomes. They
may have valuable information, experience, or expertise that can help to identify
potential risks that may not be obvious to the project team. By ensuring that all
the relevant stakeholders participate in the risk identification exercise, the risk
manager can increase the comprehensiveness and accuracy of the risk
identification process and foster stakeholder engagement and buy-in1.
Reference: PMBOK Guide, 6th edition, pages 397-399, 414-4151; Mastering the
PMI Risk Management Professional (PMI-RMP) Exam, page 70

27. Purchasing the New Component: Probability of Success: 70% (0.7) Profit if
Successful: US$500,000
EMV of Success: 0.7 * $500,000 = $350,000
Probability of Failure: 30% (0.3)
Additional Cost if Failed: US$50,000
EMV of Failure: 0.3 * (-$50,000) = -$15,000
Cost of Component: -$100,000
Total EMV: $350,000 (success) - $15,000 (failure) - $100,000 (cost) = $235,000

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 [Link]

[Link] deliverable reviews will start soon and additional work is

expected to resolve any issues or required adjustments. Budget overruns during
execution have put serious constraints on the remainder of the project's budget.
What should the project manager do next?
A. Request a budget relief using the management reserve.
B. Conduct a risk reassessment and reserve analysis.
C. Review the consequences of potential changes.
D. Coach stakeholders on risk identification practices.
Answer: B
Explanation:
The project manager should reassess the risks and analyze the reserve to
determine if any adjustments can be made to accommodate the expected
additional work. This will help in identifying potential budget-saving measures and
making informed decisions on how to proceed.
According to the PMI Risk Management Professional (PMI-RMP) Reference
Materials, risk reassessment is the process of reanalyzing existing project risks
and identifying new risks throughout the project life cycle1. Reserve analysis is
the process of estimating the amount of contingency reserve and management
reserve needed to account for the uncertainty and variability of the project2. In
this case, the project manager should conduct a risk reassessment and reserve
analysis as the next step, because the budget overruns during execution have
changed the risk profile of the project and reduced the available funds to handle
future risks. By conducting a risk reassessment, the project manager can update
the risk register and the risk response plan with the current status of the project
risks and the effectiveness of the risk responses. By conducting a reserve
analysis, the project manager can determine if the remaining contingency reserve
and management reserve are sufficient to cover the potential impact of the
project risks, and request additional funds if needed.
Reference: 1: PMI, A Guide to the Project Management Body of Knowledge
(PMBOK® Guide), Sixth
Edition, 2017, p. 442 2: PMI, A Guide to the Project Management Body of
Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 215

29. Utilization of Lessons Learned (C): Frequent risk discussions enable the
project team to apply lessons learned from previous risks more effectively. This
helps in refining risk responses and improving the overall risk management
process.

[Link] approving the risk contingency budget for a project, the CEO notices
each team has a different approach to report risks and their impacts. The CEO

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 [Link]

decides to create a new centralized risk management function to help resolve the
problem.
How does centralizing the risk management function help resolve the problem?
A. Enhance the process of identification of different Individual project risks.
B. Allows monitoring the impact against the overall project risk exposure.
C. Establishes risk sources and ownership for trigger monitoring.
D. Creates a single repository for all project risk documents.
Answer: B
Explanation:
Centralizing the risk management function enables the organization to have a
consistent approach to reporting risks and their impacts. This allows for better
monitoring of the impact against the overall project risk exposure, which helps in
making informed decisions and allocating resources effectively.
According to the PMI-RMP Exam Content Outline1, one of the tasks in the
domain of risk governance is to “establish and maintain a centralized risk
management function to support the project and organizational objectives”. A
centralized risk management function can help resolve the problem of
inconsistent risk reporting by providing a common framework, methodology, and
standards for risk management across the organization. One of the benefits of
centralizing the risk management function is that it allows monitoring the impact
of individual project risks against the overall project risk exposure, as well as the
organizational risk appetite and tolerance. This can help the CEO and other
senior management to make informed decisions and allocate resources
accordingly. Therefore, the best answer is B.
Reference: 1: PMI-RMP Exam Content Outline, page 6.

31.A risk manager and relevant stakeholders have completed a risk response
plan for a project. They have identified and planned responses to the known
risks; however, a risk owner has identified and reported some residual risks not
previously addressed.
What should the risk manager do first?
A. Develop a residual risk management plan to manage the residual risks.
B. Analyze, document, and communicate the residual risks to stakeholders.
C. Record the residual risks in the watch list for future reference.
D. Implement the contingency plan when the residual risks occur.
Answer: B
Explanation:
Residual risks are the risks that remain after the risk response plan has been
implemented. They are the risks that are accepted by the project team and
stakeholders as part of the project. Residual risks may have low probability or

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impact, but they still need to be monitored and controlled throughout the project.
The first thing that the risk manager should do when a risk owner identifies and
reports some residual risks is to analyze, document, and communicate them to
the relevant stakeholders. The risk manager should assess the probability and
impact of the residual risks, and determine if they require any further response or
contingency plan. The risk manager should also update the risk register and the
risk report with the information about the residual risks, and share them with the
stakeholders who need to be aware of them. This will help the project team and
stakeholders to be prepared for any potential occurrence of the residual risks,
and to take appropriate actions if needed.
Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and
Projects, 2019, p. 94-95, 101.

32. Importance of Expertise:

The procedure emphasizes the involvement of key personnel who are
knowledgeable about the specific risks in their areas of responsibility. By
involving these experts, the project can ensure that the risk identification process
is thorough and that all potential risks are considered (Section 3.5, Project
Manager or Lead Project Engineer responsibilities).

33.A project manager has requested a risk manager facilitate risk identification
on a project. While facilitating this effort, the project manager wants to ensure
that stakeholders interact and provide their expertise so that an exhaustive list of
risks is created.
Which risk identification technique should the risk manager use?
A. Prompt lists
B. Interviews
C. Delphi technique
D. Nominal group technique
Answer: D
Explanation:
The risk identification technique that the risk manager should use is the nominal
group technique. This technique involves bringing stakeholders together to
brainstorm potential risks and then ranking them based on their importance. This
allows for interaction and collaboration among stakeholders, which can help
ensure that an exhaustive list of risks is created.
The nominal group technique is a risk identification technique that involves the
interaction and collaboration of stakeholders to generate an exhaustive list of
risks. It is a structured process that allows each participant to share their ideas
independently, then rank and prioritize them as a group. This technique ensures

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that all opinions are considered and reduces the influence of dominant or biased
individuals12
1: PMI Risk Management Professional (PMI-RMP)® Handbook, page 10 2: A
Guide to the Project Management Body of Knowledge (PMBOK® Guide) C
Seventh Edition, page [Link]
.

34. Reassessing the Risk: The first step involves reviewing the impact of the
residual risk in the context of existing budget reserves. This ensures that the
project has adequate resources to address any potential consequences of the
residual risk.

35.A project manager has determined that they cannot outsource work nor
eliminate the scope. They also discover that they cannot buy insurance or
mitigate the risk.
What should the project manager do?
A. Avoid the risk
B. Transfer the risk
C. Ignore the risk
D. Accept the risk
Answer: D
Explanation:
Since the project manager cannot avoid, transfer, or mitigate the risk, the only
remaining option is to accept the risk and develop a contingency plan to handle it
if it occurs.
According to the PMI-RMP Exam Content Outline1, one of the tools and
techniques for risk response planning is risk response strategies. These are the
actions that the project manager and the project team take to address the
identified risks, either positive or negative. For negative risks or threats, the PMI-
RMP Exam Content Outline1 lists four possible strategies: avoid, transfer,
mitigate, and accept. Avoid risk means changing the project plan to eliminate the
threat or its impact2. For example, changing the scope, schedule, or budget to
avoid a risk.
Transfer risk means shifting the impact of a threat to a third party, such as a
contractor, vendor, or insurer2. For example, buying insurance, outsourcing, or
using performance bonds to transfer a risk. Mitigate risk means reducing the
probability and/or impact of a threat2. For example, conducting more tests,
adopting best practices, or providing training to mitigate a risk.
Accept risk means acknowledging the existence of a threat and being willing to
deal with its consequences2. For example, doing nothing, establishing a

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contingency reserve, or developing a contingency plan to accept a risk.

In this question, the project manager has determined that they cannot outsource
work (transfer) nor eliminate the scope (avoid). They also discover that they
cannot buy insurance (transfer) or mitigate the risk. Therefore, the only remaining
option is to accept the risk. Accepting the risk does not mean ignoring the risk,
but rather recognizing it and preparing for its potential occurrence and impact.
Therefore, the best answer is D.
Reference: 1: PMI-RMP Exam Content Outline, page 9. 2: A Guide to the Project
Management Body of Knowledge (PMBOK® Guide) C Sixth Edition, page 443.

36.A project manager is working on a complex construction project. During the

risk identification process, hundreds of risks were identified. The team seems to
be confused regarding on which risks to focus. The project manager advises the
team to go ahead and start assessing the likelihood and impact of each risk.
What process is this part of?
A. Plan Risk Management
B. Perform Qualitative Risk Analysis
C. Perform Quantitative Risk Analysis
D. Monitor and Control Risk
Answer: B
Explanation:
The process of assessing the likelihood and impact of each identified risk is part
of the Perform Qualitative Risk Analysis process. This process helps prioritize
risks based on their probability and impact, allowing the project team to focus on
the most significant risks. By doing so, the project manager and team can
allocate resources and effort to address the risks that pose the greatest threat or
opportunity to the project.
The process of assessing the likelihood and impact of each risk is part of the
Perform Qualitative Risk Analysis process, which is the process of prioritizing
individual project risks for further analysis or action by assessing their probability
of occurrence and impact as well as other characteristics. This process helps the
project manager and the team to focus on the high-priority risks that have the
most influence on achieving the project objectives. The other processes are not
relevant to the question scenario. Plan Risk Management is the process of
defining how to conduct risk management activities for a project. Perform
Quantitative Risk Analysis is the process of numerically analyzing the effect of
identified risks on overall project objectives. Monitor and Control Risk is the
process of implementing risk response plans, tracking identified risks, monitoring
residual risks, identifying new risks, and evaluating risk process effectiveness
throughout the project.

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Reference: PMI Risk Management Professional (PMI-RMP) Examination Content

Outline and Specifications, page 71. A Guide to the Project Management Body of
Knowledge (PMBOK® Guide) C Sixth Edition, pages 397-3982.

37.A mega facility development project is evaluating some options to achieve the
project schedule and budget. Each option's success is driven by multiple
quantifiable factors.
What should the project manager do to evaluate and select the best option based
on costs and probabilities?
A. Perform a FMECA fault tree analysis
B. Conduct a sensitivity analysis
C. Perform a decision tree analysis
D. Conduct an analytic hierarchy process
Answer: C
Explanation:
A decision tree analysis is a tool that helps to evaluate and select the best option
among different alternatives based on costs and probabilities. A decision tree
analysis uses a graphical representation of a decision problem, where each node
represents a decision point, a chance event, or an outcome. The branches of the
tree show the possible choices, events, or consequences that can occur at each
node. The end nodes of the tree show the expected value or payoff of each
option, which is calculated by multiplying the probability and the cost or benefit of
each outcome. A decision tree analysis can help to compare the expected values
of different options and choose the one that maximizes the benefit or minimizes
the cost1. A decision tree analysis can also help to incorporate uncertainty and
risk into the decision making process, as it shows the range of possible outcomes
and their likelihoods2. Therefore, the project manager should perform a decision
tree analysis to evaluate and select the best option based on costs and
probabilities for a mega facility development project. Performing a FMECA fault
tree analysis, conducting a sensitivity analysis, or conducting an analytic
hierarchy process are not the best options to evaluate and select the best option
based on costs and probabilities. A FMECA fault tree analysis is a tool that helps
to identify and analyze the potential causes and effects of failures in a system or
process. It uses a graphical representation of a failure event, where each node
represents a basic or intermediate event that contributes to the failure. The
branches of the tree show the logical relationships between the events, using
AND or OR gates. A FMECA fault tree analysis can help to calculate the
probability and severity of failures, as well as to prioritize and mitigate the risks3.
However, a FMECA fault tree analysis does not help to compare different options
or alternatives, as it focuses on a single failure scenario. Conducting a sensitivity

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analysis is a tool that helps to measure how the uncertainty in the input variables
of a model affects the output or outcome of the model. It uses a graphical or
numerical representation of the relationship between the input and output
variables, showing how the output changes when the input changes. A sensitivity
analysis can help to identify the most critical or influential variables, as well as to
test the robustness or reliability of the model4. However, a sensitivity analysis
does not help to compare different options or alternatives, as it focuses on a
single model or option. Conducting an analytic hierarchy process is a tool that
helps to evaluate and select the best option among different alternatives based
on multiple criteria. It uses a mathematical method of pairwise comparison,
where each alternative is compared to each other in terms of each criterion. The
results of the comparisons are then aggregated into a matrix, which shows the
relative importance or preference of each alternative. An analytic hierarchy
process can help to rank the alternatives and choose the one that best satisfies
the criteria5. However, an analytic hierarchy process does not help to incorporate
costs and probabilities into the decision making process, as it relies on subjective
judgments and preferences.
Reference: 1, 2, 3, 4, 5.
A decision tree analysis is a quantitative risk analysis technique that helps
evaluate and select the best option based on costs and probabilities. It visually
represents different decision paths and their associated probabilities, allowing the
project manager to compare and select the most appropriate option for the
project.

[Link] 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. Work breakdown structure (WBS)
B. Affinity diagram
C. Monte Carlo simul-ation
D. Mind mapping
Answer: A
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

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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
Reference: 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."

[Link] organization with a large computer network identified a potential cyber

security threat. Although certain measures were implemented to avoid the risk,
the cyber security threat occurs. The measures were partially successful and a
new unforeseen risk emerges.
What should the risk owner do?
A. Develop an efficient network protection solution quickly to mitigate the risk.
B. Escalate the case to the risk manager and wait for their instructions.
C. Conduct an analysis to determine the root cause of the failed response.
D. Apply a work around to eliminate or mitigate the impact of the threat.
Answer: D
Explanation:
According to the PMBOK Guide, one of the tools and techniques for the
implement risk responses process is root cause analysis. Root cause analysis is
a technique that focuses on identifying the fundamental reason for the
occurrence of a problem or a risk. By conducting a root cause analysis, the risk
owner can determine why the implemented measures were only partially
successful and what caused the new unforeseen risk to emerge. This can help
the risk owner to identify and implement more effective risk responses, as well as
to update the risk register and the risk report with the new information1.
Reference: PMBOK Guide, 6th edition, pages 452-453, 474-4751; PMI-RMP
Exam Content Outline, 2015, page 8.

40. Updating the Risk Register and Closing Out Expired Risks (E): Regular
meetings ensure that the risk register is consistently updated, including the
closure of risks that are no longer relevant or have expired. This keeps the risk
management documentation current and accurate, which is essential for effective
project management.

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41.A risk manager has been assigned to an upcoming project. A senior risk
manager within the organization recently completed a similar project and has
provided a lessons learned document to aid planning efforts for the upcoming
project. Upon reviewing the document, the risk manager discovers that the
completed project was delivered several months behind schedule and several
thousands of dollars over budget. The root cause was determined to be an
unforeseen risk trigger that caused several items to be reworked, creating
cascading schedule delays and depleting management reserves.
What should the risk manager do to mitigate the chance of the same issues
reoccurring?
A. Ensure that all project stakeholders have a copy of and understand the
project's risk management plan.
B. Increase the management reserves and inform stakeholders of what is
available to cover any unexpected expenses
C. Distribute the lessons learned document to stakeholders knowing that the
likelihood of reoccurrence is low.
D. Document the known risk triggers as the identified cost and schedule risks in
the risk register.
Answer: D
Explanation:
To mitigate the chance of the same issues reoccurring, the risk manager should
document the known risk triggers as identified cost and schedule risks in the risk
register. By doing so, these risks are formally recognized, and appropriate
responses can be planned and monitored. This approach ensures that the
lessons learned from the previous project are incorporated into the risk
management plan for the upcoming project, reducing the likelihood of similar
issues occurring.

42.A project manager works on a long-term and high visibility project at an

organization that has a low risk appetite towards this project due to its impact on
the company's business. The project sponsors follow up weekly with the project
manager, who was just informed by one of the risk owners that the exposure
from two high-impact risks are hitting the risk thresholds.
What should the project manager do next?
A. Update the project management plan to add contingency.
B. Perform an assumptions and constraints analysis.
C. Complete an assessment and confirm the response with the sponsors.
D. Implement mitigation measures for those risks.
Answer: C
Explanation:

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According to the PMBOK Guide, 6th edition, Section [Link], Risk Thresholds,
risk thresholds are the level of risk exposure above which risks are addressed
and below which risks may be accepted. Risk thresholds are determined by the
organization’s risk appetite, which is the degree of uncertainty that an
organization is willing to accept in pursuit of its goals. Therefore, when the project
manager is informed by the risk owner that the exposure from two high-impact
risks are hitting the risk thresholds, the project manager should complete an
assessment and confirm the response with the sponsors, who are the key
stakeholders for the project and have a low risk appetite. The project manager
should not update the project management plan, perform an assumptions and
constraints analysis, or implement mitigation measures without first consulting
with the sponsors and obtaining their approval.
Reference: PMBOK Guide, 6th edition, Section [Link], Risk Thresholds

43.A risk manager was recently hired to assist with a mid-sized infrastructure
project. The risk manager becomes aware that they have an inexperienced
project team.
What two items should the risk manager have their team review in order to
prepare for an upcoming risk identification workshop? (Choose two.)
A. Scope of work and requirements
B. Monte Carlo analysis from a similar project
C. List of pre-approved contractors
D. Organization chart for city permit department
E. Risk management plan
Answer: A,E
Explanation:
The risk manager should have their team review the scope of work and
requirements to ensure they understand the project's objectives and deliverables.
Additionally, reviewing the risk management plan will help the team understand
the risk management process, roles, and responsibilities, and prepare for the risk
identification workshop.
According to the PMBOK® Guide C Sixth Edition1, the scope of work and
requirements are key inputs for the risk identification process, as they define the
project boundaries, deliverables, assumptions, and constraints. The risk
management plan is also an essential input, as it provides the guidelines and
framework for how risk management will be performed throughout the project.
The other options are not relevant for risk identification, as they are either related
to other processes (such as Monte Carlo analysis for quantitative risk analysis) or
not directly related to the project risks (such as the list of pre-approved
contractors or the organization chart for city permit department).

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Reference: PMBOK® Guide C Sixth Edition, pages 397-398.

44.A project manager is working on a high priority and high profile project. The
project team had identified three opportunities, and after analysis, risk responses
were recorded. Although risk responses were adequate for the identified
opportunities, two of those opportunities were not acted upon. During the risk
audit, the project manager found out that several of the planned risk responses
were not implemented.
What should the project manager have done to avoid this?
A. Provided regular training to the risk owners for plan implementation
B. Determined risk triggers and thresholds in the risk response plan
C. Increased communications to influence stakeholder risk responses
D. Updated the project schedule, adding risk owner implementation tasks.
Answer: D
Explanation:
The project manager should have updated the project schedule by adding risk
owner implementation tasks. This would have ensured that the planned risk
responses were implemented in a timely manner and tracked as part of the
project schedule. This would also have allowed the project manager to monitor
the progress of risk response implementation and take corrective action if
necessary.
According to the PMI-RMP Exam Content Outline and Specifications1, one of the
tasks under Domain 4: Risk Monitoring and Reporting is to “update project
schedule, budget, and risk register with risk response outcomes”. This implies
that the project manager should have added the risk owner implementation tasks
to the project schedule, so that they can be tracked and monitored. By doing so,
the project manager could have ensured that the planned risk responses were
executed as intended, and that the opportunities were not missed.
Reference: PMI-RMP Exam Content Outline and Specifications, page 10.

45.A project manager has just been assigned to a new project. The project
manager has been tasked by the project sponsor to ensure the project risks are
closely managed. The project manager starts with developing the risk
management plan.
What is the expected outcome of developing the risk management plan?
A. Being able to monitor and control risks throughout the project.
B. Defining how risk management will be executed throughout the project.
C. Documenting the communication strategy for risks throughout the project.
D. Having the ability to identify risks throughout the project.

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Answer: B
Explanation:
The expected outcome of developing the risk management plan is to define how
risk management activities will be executed throughout the project. This includes
the processes, tools, and techniques that will be used to identify, assess, and
manage risks.
The risk management plan is a document that describes how risk management
activities will be structured and performed throughout the project. It provides
guidance on how to identify, analyze, respond, monitor, and control risks, as well
as how to communicate, document, and report them. The risk management plan
also defines the roles and responsibilities of the project team and stakeholders in
risk management, the risk categories and breakdown structure, the risk
thresholds and appetite, the risk management tools and techniques, and the risk
management budget and schedule. The risk management plan is an output of the
plan risk management process, which is the first process in the project risk
management knowledge area. Developing the risk management plan is essential
for ensuring that the project risks are closely managed and aligned with the
project objectives and stakeholder expectations.
Reference: PMI, Project Risk Management, 2nd edition, 2019, p. 67-681

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