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[General] Test PMI-RMP Practice | PMI-RMP Valid Test Tutorial

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【General】 Test PMI-RMP Practice | PMI-RMP Valid Test Tutorial

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PMI Risk Management Professional Sample Questions (Q175-Q180):NEW QUESTION # 175
Which of the following diagrams displays sensitivity analysis data?
  • A. Tornado
  • B. Influence
  • C. Cause and effect
  • D. Fishbone
Answer: A

NEW QUESTION # 176
Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?
  • A. The quantitative risk analysis process will analyze the effect of risk events that may substantially impact the project's competing demands.
  • B. The quantitative risk analysis reviews the results of risk identification and prepares the project for risk response management.
  • C. The quantitative risk analysis process will review risk events for their probability and impact on the project objectives.
  • D. The quantitative risk analysis seeks to determine the true cost of each identified risk event and the probability of each risk event to determine the risk exposure.
Answer: A

NEW QUESTION # 177
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. $171,500
  • B. -$258,500
  • C. -$465,000
  • D. $258,500
Answer: D
Explanation:
Explanation/Reference:

NEW QUESTION # 178
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. Delphi technique
  • B. Interviews
  • C. Prompt lists
  • 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 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 (PMBOKGuide) - Seventh Edition, page 11.2.2.1
.

NEW QUESTION # 179
Stakeholder 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. Conduct a risk reassessment and reserve analysis.
  • B. Request a budget relief using the management reserve.
  • C. Coach stakeholders on risk identification practices.
  • D. Review the consequences of potential changes.
Answer: A
Explanation:
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.
References: 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

NEW QUESTION # 180
......
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