PMI-RMP Exam Practice Test Instant Access

Question 1

During project implementation, a risk manager wants to determine the effectiveness of risk response plans and which risk will have an impact on the project outcome. Which analysis should the risk manager do?

APerform sensitivity analysis

BPerform contingency analysis

CPerform qualitative analysis

DPerform Pareto analysis

Answer : A

Question 2

The sponsor of a construction project is upset about the results of the risk management team. The sponsor believes the team did not properly identity the risks that could affect the project. The team did manage the risks however, some of the risk response strategies created secondary risks.

What should the risk management team have done to manage this situation?

AEnsured the sponsor got more involved with the project risk planning.

BEncouraged involvement of the project team during the review meetings.

CEnhanced communication with the sponsor regarding secondary risk impact.

DEnsured to include the stakeholders in the team discussions.

Answer : C

Question 3

When performing a risk analysis, a risk manager identifies not only negative risks but also positive risks, which might bring added value to the project. What should the risk manager do next?

AAssign separate stakeholder groups for positive risks and negative risks.

BAnalyze the risks and add them to the risk register to continue the process.

CCreate a separate project to exclusively manage positive risks and threats.

DPrioritize opportunities as they are likely to bring benefits to the project.

Answer : B

Question 4

A risk manager has recommended an increase of 7% to the risk threshold to avoid failure of a challenging new initiative. What should the risk manager do next?

AAvoid making multiple changes to the organization's risk threshold.

BReduce the initiative scope so the uncertainty fits the current risk appetite.

CAvoid pursuing initiatives that exceed the established risk threshold limits.

DIdentify the key stakeholders resistant to change.

Answer : B

Question 5

A risk manager had to mitigate delay risks in the delivery of a component in a manufacturing project by procuring from an alternate vendor with shorter lead times. This has led to another risk because the project team may need additional training on how to install this specific component.

What should the risk manager do?

AAlign with procurement on how to penalize the vendor for the delay

BAccept this risk and continue monitoring for additional impacts.

CReview an alternate solution with subject matter experts (SMEs). O

DDefine and monitor response measures for this secondary risk.

Answer : D

Question 6

A new vice president in one of its divisions observed that the portfolio of projects within their division experienced significant variations beyond the 10% established threshold with the potential of not achieving its overall business goals. Hence, they directed all project leaders and sponsors to ensure that they set and work toward more stringent thresholds of 5% and reports on the basis of any variance outside that range.

How should the risk manager respond?

AAssess the impacts of this change but do nothing as the project is still within the enterprise-wide threshold.

BAssess and modify the project risk management plan in response to the new directive.

CAccept project risks since it is already within the enterprise-wide threshold.

DAdvise that the decision could increase the risk of their portfolio exponentially.

Answer : B

Question 7

The major investor in a road construction project is constantly asking project team members for information about the project's execution. This has resulted in the project team working 20% of their day preparing project reports for the stakeholders.

What should the risk manager do to enhance the project team's approach to risk reports?

AHighlight to the stakeholders the agreed predetermined frequency of risk reports.

BEngage with the team to enhance the project risk reports sent to the stakeholders.

BTalk to the project team and ensure they avoid direct communication with this stakeholder.

DWork with the project sponsor to ensure stakeholders avoid directly influencing the project team.

Answer : B, B

PMI-RMP PMI Risk Management Professional Exam Practice Test