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Title: PMI-RMP Upgrade Dumps - How to Prepare for PMI PMI-RMP Exam [Print This Page]

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Title: PMI-RMP Upgrade Dumps - How to Prepare for PMI PMI-RMP Exam
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PMI-RMP (PMI Risk Management Professional) Certification Exam is a certification offered by the Project Management Institute (PMI) to professionals who specialize in risk management. PMI Risk Management Professional certification is designed to evaluate a candidate's knowledge and expertise in identifying, assessing, and managing project risks. PMI-RMP Certification holders are recognized for their ability to assess and mitigate risks, which is a valuable skill in project management.
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The potential candidates should know what to expect from the test before they start their preparation phase. That is why they have to observe all the topics of the PMI-RMP Exam. All in all, the domains of this certification test are highlighted as follows:Risk Planning and Strategy (19-20%)
PMI Risk Management Professional Sample Questions (Q214-Q219):NEW QUESTION # 214
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).
Answer: B,C,D
Explanation:
To effectively inform the identification of resource requirements for individual risk responses, the risk manager should undertake the following actions:
1. Conduct Decision Tree Analysis: Collaborate with the project team to perform decision tree analysis for each risk or related set of risks. This technique involves mapping out different decision paths and their possible outcomes, including associated risks, probabilities, and impacts. By visualizing these scenarios, the team can evaluate the potential consequences of various decisions and choose the most effective risk response strategies.
2. Calculate Expected Monetary Value (EMV): Determine the EMV for each identified risk by multiplying the probability of occurrence by the potential financial impact. This quantitative analysis provides a monetary value representing the average expected loss or gain from a risk. Utilizing EMV calculations aids in justifying and allocating appropriate project reserves to address potential risks, ensuring that sufficient resources are available for effective risk management.
3. Prioritize High-Impact Risks: Allocate attention and resources primarily to risks that pose the highest potential impact on the project. By focusing on high-impact risks, the team ensures that critical threats are addressed promptly and effectively, optimizing the use of limited resources and enhancing the likelihood of project success.
PMI Risk Management Study Guide References:
The PMI-RMP Exam Content Outline emphasizes the importance of performing quantitative risk analysis, including techniques such as decision tree analysis and EMV calculations, to inform risk response planning and resource allocation.

NEW QUESTION # 215
An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.
What is the current project risk exposure?
Answer: D
Explanation:
Explanation
The current project risk exposure can be calculated as follows: Risk A: 0.6 (probability) x US$50,000 (impact)
= US$30,000 Risk B (after response): 0.3 (probability) x US$60,000 (impact) = US$18,000 Total risk exposure: US$30,000 (Risk A) + US$18,000 (Risk B) = US$72,000

NEW QUESTION # 216
The project manager generates a monthly risk report for key stakeholders which documents high and medium risk items only. Where would the project manager find the list of recipients for the report?
Answer: D

NEW QUESTION # 217
You are the project manager of the NHH project for your company. You have completed the first round of risk management planning and have created four outputs of the risk response planning process. Which one of the following is NOT an output of the risk response planning?
Answer: B
Explanation:
Explanation/Reference:

NEW QUESTION # 218
A risk manager is preparing risk reports to be included in the monthly status report for project executives.
How should the risk manager present the information?
Answer: A
Explanation:
When preparing risk reports for inclusion in the monthly status report for project executives, the risk manager should adhere to the format established in the risk management plan. This ensures consistency, clarity, and alignment with the overall project management framework, making it easier for executives to understand and assess the information. PMI emphasizes the importance of following established communication protocols and formats in risk reporting to maintain effective stakeholder engagement.

NEW QUESTION # 219
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