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[Hardware] Test PMI-RMP Score Report & Reliable PMI-RMP Exam Topics

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【Hardware】 Test PMI-RMP Score Report & Reliable PMI-RMP Exam Topics

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PMI stands for the Project Management Institute, and it is the world's No.1 association for project managers who want to leverage their skills in this field by obtaining the related certificates. Among many other options, this institute offers the PMI-RMP or the PMI Risk Management Professional certification. Individuals who prove their knowledge of project risk identification and mitigation by passing the associated PMI-RMP exam will be issued this certification. But why opt for it? Well, project risk management remains one of the most important activities for organizations all around the globe with the majority of the world's largest project management companies doing a lot of risk management activities to increase their chances of succeeding. So, since project risk management significantly improves the project success rate and saves money, the PMI-RMP certificate will greatly increase your value in the eyes of potential employers.
To be eligible for the PMI-RMP certification exam, candidates must have at least three years of experience in project risk management and 30 hours of risk management education. PMI-RMP Exam covers topics such as risk identification, risk analysis and assessment, risk response planning, and risk monitoring and control. It is a four-hour computer-based exam consisting of 170 multiple-choice questions. The passing score for the exam is 61%. Successful candidates are awarded the PMI-RMP certification, which is valid for three years and must be renewed through continuing education and professional development activities.
To prepare for the PMI-RMP certification exam, candidates can use a variety of resources, including study guides, online training courses, and practice exams. PMI also offers an official PMI-RMP Exam Prep course that covers all the domains of risk management and provides practice questions and quizzes. Candidates can also join study groups or participate in online forums to discuss concepts and share experiences. With thorough preparation and dedication, candidates can pass the PMI-RMP certification exam and achieve a valuable certification that will benefit their careers in risk management.
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PMI Risk Management Professional Sample Questions (Q80-Q85):NEW QUESTION # 80
A project is in the planning phase, and the risk manager establishes the risk management for the project. Which success factors should be taken into account by the risk manager to establish a successful risk management process for the project?
  • A. Organizational commitment, scale risk effort required to project, integrate with other project management areas
  • B. Organizational commitment, scale risk effort required to project, perform quantitative risk analysis
  • C. Organizational commitment, scale risk effort to project, early identification of risks
  • D. Organizational commitment, scale risk effort required to project, use Monte Carlo analysis for risk evaluation
Answer: A

NEW QUESTION # 81
A two-year project with a budget of US$2 million has completed about 60% of the work at the end of the first year. The actual cost incurred to complete the remaining 40% of work is about USS1.5 million. As a part of performing a specialized risk analysis, the calculated schedule performance index (SPI) is 1.2 and cost performance index (CPI) is 0.53.
How should the risk manager interpret such a low CPI value?
  • A. The cost related risks are effectively managed.
  • B. The actual reported costs are inaccurate.
  • C. The cost baseline is inaccurate.
  • D. The cost control processes is ineffective.
Answer: C
Explanation:
A low CPI value (0.53) indicates that the project is over budget. This may be due to an inaccurate cost baseline, which means the initial budget estimation was not correct. This would not necessarily mean that cost control processes are ineffective, actual reported costs are inaccurate, or cost-related risks are effectively managed.
The CPI value is calculated by dividing the earned value (EV) by the actual cost (AC). A CPI value of less than 1 indicates that the project is over budget, meaning that the actual cost is higher than the planned cost. A low CPI value can have several possible causes, such as poor estimation, scope creep, change requests, or inaccurate reporting. However, in this case, the SPI value is greater than 1, which indicates that the project is ahead of schedule, meaning that the earned value is higher than the planned value. This suggests that the cost baseline, which is derived from the planned value, is inaccurate and does not reflect the true cost of the work. Therefore, the risk manager should interpret such a low CPI value as a sign of an inaccurate cost baseline, and not as a result of ineffective cost control processes, inaccurate actual costs, or effective cost related risk management. References: PMI-RMP Certification Handbook1, page 9; PMBOKGuide, page
267.

NEW QUESTION # 82
A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.
What should the project team do next?
  • A. Log the threats in the risk register to try to minimize the probability of occurrence.
  • B. Log the threats in the risk register to try to maximize the probability of occurrence.
  • C. Update the project management plan to ensure the results of the opportunities are captured.
  • D. Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Answer: C
Explanation:
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all the subsidiary plans and baselines from the project management processes1. The project management plan should be updated whenever there are changes in theproject scope, schedule, cost, quality, resources, communications, risks, procurements, or stakeholder engagement2. In this case, the project team has decided to log the opportunities in the current project's risk register, which is a component of the project management plan. Opportunities are positive risks that may have a beneficial effect on the project objectives, such as cost savings, schedule acceleration, or quality improvement3. Therefore, the project team should update the project management plan to ensure the results of the opportunities are captured and reflected in the relevant subsidiary plans and baselines. For example, if an opportunity leads to a cost saving, the project team should update the cost management plan and the cost baseline accordingly.
References: 1: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 89 2: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 123 3: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 397

NEW QUESTION # 83
The project manager performed' a variance analysis on the project during the execution phase. The variances were shown as increasing What does this result imply?
  • A. The uncertainty and risk are increasing.
  • B. There is no potential for future deviation.
  • C. The project is over budget.
  • D. The project schedule is lagging behind.
Answer: A
Explanation:
Increasing variances during the execution phase imply that the uncertainty and risk are increasing, as the project performance is deviating from the planned values.
According to the PMBOK® Guide - Sixth Edition1, variance analysis is a technique used to compare the actual performance of the project against the planned or expected performance. It can be applied to various aspects of the project, such as scope, schedule, cost, quality, and risk. Variance analysis can help identify deviations from the baseline and determine the causes and impacts of those deviations. If the variances are shown as increasing, it means that the actual performance is deviating more and more from the planned performance, which impliesthat the uncertainty and risk are increasing. This could affect the project objectives and deliverables, and require corrective or preventive actions to bring the project back on track.
The other options are not correct, as they are either too specific (B and D) or contradictory © to the result of the variance analysis. References: PMBOK® Guide - Sixth Edition, pages 262-263.

NEW QUESTION # 84
In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.
What should the risk manager do?
  • A. Accept the risk because residual risks are often low.
  • B. Ask a subject matter expert (SME) to assess the residual risk and take action.
  • C. Update the risk register accordingly and review it in regular project meetings.
  • D. Assign a risk owner and set it as high priority and high impact.
Answer: B
Explanation:
Decision tree analysis is a technique that uses a graphical representation of various possible outcomes and consequences of different courses of action, based on their probabilities of occurrence and associated payoffs or costs. It can help the project team to compare and evaluate the alternatives and choose the optimal one. In this case, the risk manager should use decision tree analysis to help the team members predict the outcomes of their potential choices following their probability of occurrence. Political, economic, social, technological, legal, and environmental (PESTLE) analysis, strengths, weaknesses, opportunities, and threats (SWOT) analysis, and cost-benefit analysis are not techniques that can directly help the team members to predict the outcomes of their potential choices following their probability of occurrence, and are therefore not the best answer. Reference: PMI Risk Management Professional (PMI-RMP)Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)Cert Guide3

NEW QUESTION # 85
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