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PMI PMI-RMP, or Project Management Institute Risk Management Professional, is a certification exam that is designed to test the proficiency and knowledge of individuals in the field of risk management. PMI Risk Management Professional certification is globally recognized and is highly respected in the industry. It is an ideal certification for professionals who are interested in developing and enhancing their risk management skills.

PMI Risk Management Professional Sample Questions (Q24-Q29):

NEW QUESTION # 24
Your organization has a project that is expected to last 20 months but the customer would really like the project completed in 18 months. You have worked on similar projects in the past and believe that you could fast track the project and reach the 18 month deadline. What increases when you fast track a project?

A. Communication
B. Resources
C. Costs
D. Risks

Answer: D

NEW QUESTION # 25
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 the assumptions and constraints to the assumption log.
B. Add the risk impact of the assumptions in the risk register.
C. Add the assumptions and constraints in the project charter.
D. Add all assumptions and constraints to the risk register.

Answer: A

Explanation:
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)

NEW QUESTION # 26
You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform distribution method for a portion of the project.
Which part of your project is most likely to have a uniform risk distribution?

A. Early concept stage of design
B. Project initiating
C. Late completion stages of a project
D. Project phases that deal with "cutover" technologies

Answer: A

NEW QUESTION # 27
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 for risk classification and that probability and impact are identified.
B. Check to ensure the risk meeting agenda and supporting documents are distributed.
C. Check to ensure that the risk is supported by a Monte Carlo simulation.
D. Check to ensure that the risks are gathered using Delphi technique.
E. Check to ensure that risk origin, triggering event, and ownership is identified.

Answer: A,E

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 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. References 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 simulation, as this is not a mandatory or universal requirement for a risk register. Monte Carlo simulation 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, 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. References: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition. Chapter 11: Project Risk Management, pp. 395-454. 5

NEW QUESTION # 28
A project manager is running a high-cost telecommunications project. There is a monthly status meeting, and the risk manager should provide an update to the project team and project sponsors on major risks.
What risk related information should be included in the monthly status meeting of this complex project?

A. Top priority risks at present, risks that have occurred, changes in scope
B. Top priority risks at present, risks that have occurred, risk management plan
C. Top priority risks at present, risks closed in the last period, milestone changes
D. Top priority risks at present, risks that have occurred, risks closed in the last period

Answer: D

NEW QUESTION # 29
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