PMI-RMP Online Practice Questions and Answers

Jenny is the project manager for the NBT projects. She is working with the project team and several subject matter experts to perform the quantitative risk analysis process. During this process she and the project team uncover several risks events that were not previously identified. What should Jenny do with these risk events?

A. The events should be entered into qualitative risk analysis.

B. The events should be determined if they need to be accepted or responded to.

C. The events should be entered into the risk register.

D. The events should continue on with quantitative risk analysis.

Your organization, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?

A. Each risk reassessment should go into the same depth as the original risk assessment activity.

B. The probability and impact of risk event should determine the level of reassessment throughout the project lifecycle.

C. The amount of detail of repetition that is appropriate depends on how the project progresses relative to its objectives.

D. The level of detail and reassessment should reflect the priority of the project.

Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?

A. Corrective action

B. Risk audit

C. Technical performance measurement

D. Earned value management

Nancy is the project manager of the NHH project. She and the project team have identified a significant risk in the project during the qualitative risk analysis process. Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses. Bob disagrees and ensures Nancy that his response is most appropriate for the identified risk. Who is correct in this scenario?

A. Bob is correct. Bob is familiar with the technology and the risk event so his response should be implemented.

B. Bob is correct. Not all risk events have to pass the quantitative risk analysis process to develop effective risk responses.

C. Nancy is correct. All risks of significant probability and impact should pass the quantitative risk analysis process before risk responses are created.

D. Nancy is correct. Because Nancy is the project manager she can determine the correct procedures for risk analysis and risk responses. In addition, she has noted the risk response that Bob recommends.

You work as a project manager for BlueWell Inc. Management has asked you to work with the key project stakeholder to analyze the risk events you have identified in the project. They would like you to analyze the project risks with a goal of improving the project's performance as a whole. What approach can you use to achieve the goal of improving the project's performance through risk analysis with your project stakeholders?

A. Focus on the high-priority risks through qualitative risk analysis

B. Involve the stakeholders for risk identification only in the phases where the project directly affects them

C. Involve subject matter experts in the risk analysis activities

D. Use qualitative risk analysis to quickly assess the probability and impact of risk events

You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?

A. Mitigation management plan

B. Mitigation plan

C. Fallback plan

D. Risk response plan

Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?

A. The quantitative risk analysis process will review risk events for their probability and impact on the project objectives.

B. The quantitative risk analysis seeks to determine the true cost of each identified risk event and the probability of each risk event to determine the risk exposure.

C. The quantitative risk analysis process will analyze the effect of risk events that may substantially impact the project's competing demands.

D. The quantitative risk analysis reviews the results of risk identification and prepares the project for risk response management.

Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was a cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?

A. Don would because he is the project manager.

B. Jerry would because of the contract type.

C. Don would because of the contract type.

D. Jerry would because he is the hired contractor.

In the country where a project is being executed, customs procedures are complex and change frequently. During the risk identification process, the project team identifies a risk related to delays in customs on substantial equipment that will likely occur. Equipment delays on this project could lead to project cancellation.

Why should a mitigation plan be developed for this risk?

A. This is a financial risk.

B. This task is on the critical path.

C. A response plan should be developed for all risks.

D. This is a high-priority risk.

Which of the following would a proactive risk manager do during the Monitoring and Controlling Process?

A. Develop risk responses, create risk management plan, and stay alert for risk events.

B. Update the lessons learned documents, develop risk responses, and create the risk management plan.

C. Review identified risks, stay alert for risk events, and remind team members to keep the risk manager informed about risk triggers.

D. Review lessons learned document to identify risks, quantity risks, and lower impact ratings.