PMI-RMP Online Practice Questions and Answers

You are the project manager for your organization. You have identified a risk event you're your organization could manage internally or externally. If you manage the event internally it will cost your project $578,000 and an additional $12,000 per month the solution is in use. A vendor can manage the risk event for you. The vendor will charge $550,000 and $14,500 per month that the solution is in use. How many months will you need to use the solution to pay for the internal solution in comparison to the vendor's solution?

A. Approximately 8 months

B. Approximately 15 months

C. Approximately 13 months

D. Approximately 11 months

Which of the following risk responses delineates that the project plan will not be changed to deal with the risk?

A. Exploitation

B. Transference

C. Acceptance

D. Mitigation

A project team member has just identified a new project risk. The risk event is determined to have significant impact but a low probability in the project. Should the risk event happen it'll cause the project to be delayed by three weeks, which will cause new risk in the project. What should the project manager do with the risk event?

A. Add the identified risk to a quality control management control chart.

B. Add the identified risk to the issues log.

C. Add the identified risk to the risk register.

D. Add the identified risk to the low-level risk watchlist.

Melody is the project manager for her organization. She has created a risk response to conduct more tests on the software her project is creating. The identified risk that prompted this response was that the software is mission-critical and must be flawless before it can be put into product. What type of a risk response has Melody used in this scenario?

A. Mitigation

B. Enhance

C. Transference

D. Avoidance

Fred is the project manager of the PKL project. He is working with his project team to complete the quantitative risk analysis process as a part of risk management planning. Fred understands that once the quantitative risk analysis process is complete, the process will need to be completed again in at least two other times in the project. When will the quantitative risk analysis process need to be repeated?

A. Quantitative risk analysis process will be completed again after the cost management planning and as a part of monitoring and controlling.

B. Quantitative risk analysis process will be completed again after new risks are identified and as part of monitoring and controlling.

C. Quantitative risk analysis process will be completed again after the risk response planning and as a part of monitoring and controlling.

D. Quantitative risk analysis process will be completed again after the plan risk response planning and as part of procurement.

You are the project manager for your organization and you are working with Thomas, a project team member. You and Thomas have been working on a specific risk response for a probable risk event in the project. Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?

A. Risk expeditor

B. Risk owner

C. Risk team leader

D. Risk coordinator

The company board is concerned about potential legal action from a high-risk project. What technique can be used to justify risk response decisions taken on this project?

A. Interviews

B. Nominal group technique

C. Brainstorming

D. Decision tree analysis

The risk management process can be defined as which of the following?

A. Iterative through the planning phase

B. Baselined at the beginning of execution

C. Iterative throughout the entire project

D. Updated in the execution phase

As part of identifying the risk appetite of project stakeholders, the project manager must first identify the stakeholders. Which of the following inputs are used to identify project stakeholders?

A. Project charter, management reserve, enterprise environmental factors, and organizational process assets

B. Project management plan, human resource plan, enterprise environmental factors, and organizational process assets

C. Project charter, bid documents, enterprise environmental factors, and organizational process assets

D. Project charter, communications management plan, enterprise environmental factors, and organizational process assets

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. The project schedule is lagging behind.

C. There is no potential for future deviation.

D. The project is over budget.