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 IT Certification Guaranteed, The Easy Way!

Exam : PMI-RMP

Title : PMI Risk Management

Professional

Vendor : PMI

Version : DEMO

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NO.1 You are the project manager of the NHH project for your company. You and the project team
have completed the quantitative risk analysis for your project. During this process you create a
contingency reserve based on the risk probability-impact matrix as seen in the figure below.

Based on the information in the figure above, what amount would you need to include in your risk
contingency fund?
A. -$465,000
B. $171,500
C. -$258,500
D. $258,500
Answer: D

NO.2 Eric is the project manager of the MTC project for his company. In this project a vendor has
offered Eric a sizeable discount on all hardware if his order total for the project is more than
$125,000. Right now, Eric is likely to spend $118,000 with vendor. If Eric spends $7,000 his cost
savings for the project will be $12,500, but he cannot purchase hardware if he cannot implement the
hardware immediately due to organizational policies. Eric consults with Amy and Allen, other project
managers in the organization, and asks if she needs any hardware for their projects. Both Amy and
Allen need hardware and they agree to purchase the hardware through Eric's relationship with the
vendor. What positive risk response has happened in this instance?
A. Sharing
B. Exploiting
C. Transference
D. Enhancing
Answer: A

NO.3 You work as a project manager for BlueWell Inc. You are currently working with the project

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stakeholders to identify risks in your project. You understand that the qualitative risk assessment and
analysis can reflect the attitude of the project team and other stakeholders to risk. Effective
assessment of risk requires management of the risk attitudes of the participants. What should you,
the project manager, do with assessment of identified risks in consideration of the attitude and bias
of the participants towards the project risk?
A. Evaluate and document the bias towards the risk events
B. Evaluate the bias through SWOT for true analysis of the risk events
C. Document the bias for the risk events and communicate the bias with management
D. Evaluate the bias towards the risk events and correct the assessment accordingly
Answer: D

NO.4 During qualitative risk analysis you want to define the risk urgency assessment. All of the
following are indicators of risk priority except for which one?
A. Cost of the project
B. Risk rating
C. Warning signs
D. Symptoms
Answer: A

NO.5 You are the project manager of the NKJ Project for your company. The project's success or
failure will have a significant impact on your organization's profitability for the coming year.
Management has asked you to identify the risk events and communicate the event's probability and
impact as early as possible in the project. Management wants to avoid risk events and needs to
analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of
stakeholder tolerance in this project?
A. Mitigation-ready project management
B. Risk utility function
C. Risk avoidance
D. Risk-reward mentality
Answer: B

NO.6 You work as a project manager for BlueWell Inc. Management has asked you to work with the
key project stakeholder to analyze the risk events you have identified in the project. They would like
you to analyze the project risks with a goal of improving the project's performance as a whole. What
approach can you use to achieve the goal of improving the project's performance through risk
analysis with your project stakeholders?
A. Focus on the high-priority risks through qualitative risk analysis
B. Involve the stakeholders for risk identification only in the phases where the project directly affects
them
C. Involve subject matter experts in the risk analysis activities
D. Use qualitative risk analysis to quickly assess the probability and impact of risk events
Answer: A

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NO.7 Mark is the project manager of the BFL project for his organization. He and the project team are
creating a probability and impact matrix using RAG rating. There is some confusion and disagreement
among the project team as to how a certain risk is important and priority for attention should be
managed. Where can Mark determine the priority of a risk given its probability and impact?
A. Risk management plan
B. Project sponsor
C. Risk response plan
D. Look-up table
Answer: D

NO.8 Wendy is about to perform qualitative risk analysis on the identified risks within her project.
Which one of the following will NOT help Wendy to perform this project management activity?
A. Project scope statement
B. Risk management plan
C. Risk register
D. Stakeholder register
Answer: D

NO.9 Rachel is the project manager of the KJH Project for her company. She needs a method to
create a quick and simple approach to risk identification to communicate the project risk with the
stakeholders. Which one of the following approaches to risk identification should Rachel choose to
provide a quick and simple listing of the project risks?
A. Delphi Technique
B. Checklist analysis
C. Assumptions analysis
D. Brainstorming
Answer: B

NO.10 You are the project manager of the NNN project for your company. You and the project team
are working together to plan the risk responses for the project. You feel that the team has
successfully completed the risk response planning and now you must initiate what risk process it is.
Which of the following risk processes is repeated after the plan risk responses to determine if the
overall project risk has been satisfactorily decreased?
A. Qualitative risk analysis
B. Quantitative risk analysis
C. Risk identification
D. Risk response implementation
Answer: B

NO.11 You are the project manager of the NGH project for your organization. You want to create a
causeand- effect diagram to help discover the root causes of the risks within the project. Harold, the
CIO, recommends that you create an Ishikawa diagram instead. What is an Ishikawa diagram?
A. It is a graphical representation of situations showing causal influences.

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B. It is the same thing as a root cause diagram.

C. It shows how various elements of a system interrelate.
D. It diagrams the risks according to the work breakdown structure including resources.
Answer: B

NO.12 Your project spans the entire organization. You would like to assess the risk of the project but
are worried that some of the managers involved in the project could affect the outcome of any risk
identification meeting. Your worry is based on the fact that some employees would not want to
publicly identify risk events that could make their supervisors look bad. You would like a method that
would allow participants to anonymously identify risk events. What risk identification method could
you use?
A. Delphi technique
B. Isolated pilot groups
C. SWOT analysis
D. Root cause analysis
Answer: A

NO.13 Adrian is the project manager of the NHP Project. In her project there are several work
packages that deal with electrical wiring. Rather than to manage the risk internally she has decided to
hire a vendor to complete all work packages that deal with the electrical wiring. By removing the risk
internally to a licensed electrician Adrian feels more comfortable with project team being safe. What
type of risk response has Adrian used in this example?
A. Avoidance
B. Mitigation
C. Acceptance
D. Transference
Answer: D

NO.14 Virginia is the project manager for her organization. She has hired a subject matter expert to
interview the project stakeholders on certain identified risks within the project. The subject matter
expert will assess the risk event with what specific goal in mind?
A. To determine the level of probability and impact for each risk event
B. To determine the bias of the risk event based on each person interviewed
C. To determine the probability and cost of the risk event
D. To determine the validity of each risk event
Answer: A

NO.15 Jane is the project manager of the GBB project for her company. In the current project a
vendor has offered the project a ten percent discount based if they will order 100 units for the
project. It is possible that the GBB Project may need the 100 units, but the cost of the units is not a
top priority for the project. Jane documents the offer and tells the vendor that they will keep the
offer in mind and continue with the project as planned. What risk response has been given in this
project?

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A. Acceptance
B. Enhance
C. Exploiting
D. Sharing
Answer: A