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100% Pass Quiz PMI-RMP Marvelous Valid PMI Risk Management Professional Exam Not
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To be eligible for the PMI-RMP Exam, candidates must meet certain requirements. They must have a minimum of three years of experience in project risk management, with at least 2,000 hours of experience in the field. In addition, they must have completed at least 30 hours of formal education in risk management or possess a related certification.
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PMI-RMP (PMI Risk Management Professional) certification exam is a specialized certification offered by the Project Management Institute (PMI). PMI Risk Management Professional certification is designed for professionals who specialize in identifying, assessing, and managing risks within a project or organization. PMI-RMP Exam covers a range of topics related to risk management, including risk identification, risk analysis, risk response planning, and risk monitoring and control.
PMI Risk Management Professional Sample Questions (Q197-Q202):NEW QUESTION # 197
The project manager and the risk manager of a new project to develop an application to support autonomous driving are meeting with the sponsor and key stakeholders to discuss the project. During the meeting, it is identified that the transport authority is discussing new traffic regulations for the industry that could be in place before the project ends.
How should the project manager and the risk manager handle this situation?
- A. Perform inquiries on the website of the traffic authority weekly.
- B. Send a letter to the traffic authority with the general project information.
- C. Meet with the traffic authority staff in charge of the new regulation.
- D. Ensure the project complies with the current traffic regulations and laws.
Answer: C
Explanation:
Meeting with the traffic authority staff responsible for the new regulation allows the project manager and risk manager to understand the potential changes and their impact on the project. This will help them proactively address any potential issues and ensure the project complies with the new regulations.
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, the project manager and the risk manager should handle this situation by meeting with the traffic authority staff in charge of the new regulation. This is because:
The new traffic regulation is an external risk that could affect the project objectives, such as scope, schedule, cost, quality, and customer satisfaction. External risks are those that arise from outside the project boundaries and are beyond the control of the project team. Examples of external risks include changes in government policies, regulations, laws, market conditions, environmental factors, etc.
The project manager and the risk manager should proactively engage with the external stakeholders who have the power and influence to create or modify the external risks. By meeting with the traffic authority staff, they can establish a positive relationship, gain insights into the new regulation, and influence its development to align with the project needs. They can also obtain information on the probability and impact of the risk, as well as the potential response strategies.
The other options are not effective in handling this situation because:
Ensuring the project complies with the current traffic regulations and laws does not address the risk of the new regulation that could change the project requirements, scope, or deliverables. It also does not help the project team to prepare for the possible changes and mitigate their negative effects.
Sending a letter to the traffic authority with the general project information does not establish a direct and timely communication channel with the external stakeholder. It also does not provide enough details or feedback to understand the nature and implications of the new regulation.
Performing inquiries on the website of the traffic authority weekly does not allow the project team to influence the development of the new regulation or obtain reliable and updated information. It also does not enable the project team to build trust and rapport with the external stakeholder.
Reference:
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
Risk Management Professional (PMI-RMP)Exam Cert Guide2
NEW QUESTION # 198
What steps would be used during the qualitative risk analysis process to provide input to the risk register?
- A. Interviews, export opinions, risk manager review, prioritize risks, and document results
- B. Interviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results
- C. Select risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results
- D. Select risks characteristic, collect and analyze data, prioritize risks, categorize risks causes, document results
Answer: B
NEW QUESTION # 199
Which of the following success factors will enhance the Perform Qualitative Risk Analysis process as the risk occurrence gets closer?
- A. Agreed-upon approach
- B. High quality information
- C. Agreed-upon definition
- D. Iterative analysis
Answer: C
NEW QUESTION # 200
A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a
50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue.
What should the risk manager do next to find out the correct limit?
- A. Find out the stakeholders' risk appetite
- B. Review the agreed-upon risk tolerance
- C. Use industry standard risk thresholds
- D. Perform a sensitivity analysis of the risk
Answer: B
Explanation:
The risk manager should review the agreed-upon risk tolerance to determine the correct limit for continuing construction based on the chance of rain. Risk tolerance is the level of risk an organization is willing to accept and should be established during the risk management planning process.
Risk tolerance is the degree of uncertainty that a stakeholder is willing to accept in respect to a negative outcome on a project objective. Risk tolerance can be expressed as a percentage, a range, a value, or a qualitative statement. Risk tolerance should be agreed upon by the project team and the stakeholders at the beginning of the project, and documented in the risk management plan. The risk manager should review the agreed-upon risk tolerance to find out the correct limit for the rain probability that would affect the construction activity. This would help to resolve the conflicting opinions of the stakeholders and ensure that the risk management decisions are aligned with the project objectives and expectations. Reviewing the agreed- upon risk tolerance is the best option among the choices given, as it is the most relevant and reliable source of information for the risk manager. Performing a sensitivity analysis, finding out the stakeholders' risk appetite, or using industry standard risk thresholds are not as effective or appropriate ways of finding out the correct limit, as they do not reflect the specific agreement and context of the project. References: PMI-RMP® Certification Handbook1, page 9; PMBOKGuide, pages 414-415.
NEW QUESTION # 201
In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?
- A. Initiating
- B. Executing
- C. Closing
- D. Planning
Answer: A
NEW QUESTION # 202
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