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[General] PMI-RMP Question Explanations - Latest Version

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【General】 PMI-RMP Question Explanations - Latest Version

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PMI Risk Management Professional Sample Questions (Q147-Q152):NEW QUESTION # 147
The risk manager is prioritizing risks based on the potential impact to cost and schedule and identifies the following 4 risks:
Risk 1 has a US$500,000 potential cost increase, and a 60 day potential schedule slippage, with a 25% probability of occurring Risk 2 has a US$200,000 potential cost increase, and a 20 day potential schedule slippage, with a 60% probability of occurring Risk 3 has a US$1,200,000 potential cost increase, and a 90 day potential schedule slippage, with a 10% probability of occurring Risk 4 has @ US$600,000 potential cost increase, and a 70 day potential schedule slippage, with a 20% probability of occurring Using expected monetary value calculation, which risk has the greatest potential impact to cost and schedule?
  • A. Risk 4
  • B. Risk 3
  • C. Risk 1
  • D. Risk 2
Answer: C

NEW QUESTION # 148
The risk manager loaded the risk register, built the risks into the simulation software, and ran the Monte Carlo analysis The P80 and P90 end dates are the same as the deterministic date.
What should be the risk manager's next step?
  • A. Decrease the number of iterations
  • B. Decrease the risk consequences
  • C. Check the schedule for constraints
  • D. Use the P90 date on the risk report
Answer: C

NEW QUESTION # 149
During a weekly project review meeting, a stakeholder identifies some new risks. When creating risk responses for these newly identified risks, what should the project team do to discover trends and more efficiently manage the responses?
  • A. List workaround solutions.
  • B. Classify the risk impacts based on their severity.
  • C. Determine the root causes.
  • D. Identify the risk owners.
Answer: C

NEW QUESTION # 150
A company has implemented a policy requirement for employees to use complex passwords and update them regularly. A few employees are unable to make the changes, which increases the likelihood of cybercriminals compromising their passwords.
What should the risk manager do?
  • A. Increase the residual risk monitoring.
  • B. Reassess the inherent risk level.
  • C. Increase the inherent risk monitoring.
  • D. Reassess the residual risk level.
Answer: B
Explanation:
Residual risk refers to the remaining risk after implementing risk responses or controls. In this scenario, despite the policy requiring complex passwords and regular updates, some employees' inability to comply increases the likelihood of password compromise. This non-compliance elevates the residual risk beyond acceptable levels. The risk manager should reassess the residual risk to determine its current status and evaluate whether additional controls or actions are necessary to mitigate the heightened threat. This reassessment ensures that the organization's risk management strategies remain effective and aligned with its security objectives.
PMI Risk Management Study Guide References:
The PMI-RMP Exam Preparation Study Guide defines residual risk as "the risk that remains after risk responses have been implemented," highlighting the need for continuous monitoring and reassessment to address any changes in risk exposure.

NEW QUESTION # 151
You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?
  • A. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
  • B. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
  • C. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
  • D. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
Answer: B

NEW QUESTION # 152
......
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