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Author: ianlewi318    Time: yesterday 12:04
Title: New PMI PMI-RMP Dumps Ppt - PMI-RMP Study Group
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The PMI PMI-RMP exam covers a range of topics related to risk management, such as risk identification, assessment, response planning, and monitoring and control. PMI-RMP exam is designed to test the candidate¡¯s knowledge and understanding of these topics, as well as their ability to apply them in real-life scenarios. PMI-RMP Exam also assesses the candidate¡¯s ability to communicate effectively with stakeholders and to work collaboratively with team members to manage risks.
PMI Risk Management Professional Sample Questions (Q150-Q155):NEW QUESTION # 150
When processing freight invoices for a project, the project manager notices the shipping costs exceeded the budget due to increased fuel costs. The risk manager included this risk in the project's contingency allowance. When reviewing the project budget execution reports, the project manager notices unused budget remaining in other closed tasks of the project that could cover the additional shipping costs.
What should the project manager do?
Answer: D
Explanation:
The project's contingency allowance is a provision in the project budget that is intended to cover known risks that may affect the project costs. The risk of increased fuel costs was identified and included in the contingency allowance, so the project manager should use it to process the freight invoices at the actual shipping costs. This is the best way to handle the risk without affecting the project scope, schedule, or quality. Requesting a formal change order from the customer (option B) is not necessary, as the project budget already has a provision for this risk. Processing the freight invoices for the budgeted amount and hoping the shipping company will forgive the difference (option C) is unethical and unprofessional, as it violates the terms of the contract and the PMI Code of Ethics and Professional Conduct. Asking the project sponsor to cover the additional shipping costs on the company's reserves account (option D) is also not appropriate, as the company's reserves are meant for unknown risks that are beyond the project's control, not for known risks that are already accounted for in the project budget. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 72; PMI, A Guide to the Project Management Body of Knowledge (PMBOKGuide), 6th ed., 2017, p. 252.
The project manager should use the contingency allowance to cover the additional shipping costs, as it was specifically included in the project budget for such risks. This approach avoids requesting unnecessary changes or relying on external sources to cover the cost overrun.
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NEW QUESTION # 151
During a project progress meeting, a project team member is concerned that one of the risks has triggered several other low-level risks. These risks should be responded to quickly or there will be severe consequences for the project deliverables.
What should the risk manager do?
Answer: C
Explanation:
When a risk triggers several other risks that need a quick response, performing a risk urgency assessment is the appropriate course of action. This assessment helps determine how soon a response is required for each risk, considering their potential impact on the project. The PMI guidelines emphasize the importance of urgency in prioritizing risk responses, particularly when the consequences could significantly affect project deliverables if not addressed promptly.

NEW QUESTION # 152
Which types of project tends to have more well-understood risks?
Answer: B

NEW QUESTION # 153
You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?
Answer: B

NEW QUESTION # 154
During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?
Answer: C
Explanation:
The risk manager should include an escalation process in the risk management plan to address risks that may impact other projects. This ensures that any identified risks that could affect multiple projects are communicated and managed appropriately across the organization.
The risk manager should include an escalation process in the risk management plan to deal with risks that may affect other projects or the organization as a whole. An escalation process is a set of procedures that defines how and when risks should be communicated to higher levels of authority or responsibility for decision making or resolution. The escalation process should specify the criteria, roles, responsibilities, and communication channels for escalating risks. The risk manager should follow the escalation process when identifying risks that may have extensive impacts beyond the scope of the project. The other options are not appropriate actions for the risk manager to take. Contacting the risk managers of the other projects and informing them is not sufficient, as it does not ensure that the risks are properly addressed or resolved. Taking note of the extensive impact of these risks in the risk register is not enough, as it does not involve the necessary stakeholders or decision makers. Addressing the unique characteristics of these risks on a case-by- case basis is not consistent, as it does not follow a standard process or protocol. References: 2, 3, 4

NEW QUESTION # 155
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