PMI PMI Certifications PMI-RMP Questions & Answers

• Question 441:

  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.

  Correct Answer: C

• Question 442:

  FILL BLANK Fill in the blank with an appropriate phrase. The _________ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied.

  Correct Answer: residual risk

• Question 443:

  FILL BLANK

  Fill in the blank with an appropriate phrase.

  ________are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing.

  Correct Answer: Pure risks

• Question 444:

  FILL BLANK

  Fill in the blank with an appropriate phrase.

  ________is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.

  Correct Answer: Sensitivity analysis

• Question 445:

  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. Ensure the project complies with the current traffic regulations and laws.

  B. Send a letter to the traffic authority with the general project information.

  C. Perform inquiries on the website of the traffic authority weekly.

  D. Meet with the traffic authority staff in charge of the new regulation.

  Correct Answer: D

  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:

  References:

  PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1 Risk Management Professional (PMI-RMP) ert Guide2

• Question 446:

  The risk manager also serves as a facilitator for a project and realizes the project team members have biases impacting how they perceive risks. What analysis is currently being used?

  A. Quantitative risk analysis

  B. Force field analysis

  C. Qualitative risk analysis

  D. Stakeholder analysis

  Correct Answer: C

  Explanation: The analysis currently being used is qualitative risk analysis. Qualitative risk analysis involves assessing risks based on their likelihood of occurrence and their potential impact on the project. This type of analysis can help identify biases that may be impacting how team members perceive risks. Qualitative risk analysis is the process of prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. Qualitative risk analysis helps to identify the most significant risks that require attention and response planning. One of the tools and techniques used in qualitative risk analysis is risk data quality assessment, which evaluates the degree to which the data about individual project risks is useful for risk management. Risk data quality assessment considers various aspects of data quality, such as reliability, accuracy, integrity, precision, and bias. Bias is the tendency of human judgment to be influenced by personal or organizational preferences, assumptions, beliefs, or emotions, rather than by objective facts or evidence. Bias can affect how project team members perceive and assess risks, leading to inaccurate or incomplete risk analysis results. Therefore, the risk manager who realizes the project team members have biases impacting how they perceive risks is currently using qualitative risk analysis to prioritize the risks and assess the quality of risk data. References: PMI, Practice Standard for Project Risk Management, 2009, p.37-38, 41-42.

• Question 447:

  A supplier Is delayed in delivering fuel for a project. The project manager anticipated this risk and is requesting fuel from another supplier. When speaking with the other supplier, a new risk appears because fulfilling the order will cause delays with several other projects.

  After performing a detailed analysis, what should the risk manager do?

  A. Escalate the problem to the project sponsors.

  B. Execute the approved risk response plan.

  C. Negotiate with the supplier to resolve the problem.

  D. Assign a team member to update the issue leg.

  Correct Answer: B

  Explanation: According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain of Risk Response is to execute the approved risk response plan in accordance with project guidelines and procedures1. A risk response plan is a component of the project management plan that describes the agreed-upon and funded actions to address the project risks, both positive and negative2. In this scenario, the risk manager should execute the approved risk response plan to deal with the new risk that appears when requesting fuel from another supplier, which will cause delays with several other projects. The risk response plan should have been developed and approved during the risk response planning process, which involves selecting and prioritizing the appropriate risk strategies and actions for each risk3. The risk response plan should also be aligned with the project guidelines and procedures, which are the rules and directions that define the project's scope, schedule, cost, quality, and other aspects4. The risk manager should not escalate the problem to the project sponsors, because that is not a risk response strategy, but rather a way to seek higher-level authority or support for a risk that is outside the project's scope or influence5. The risk manager should not negotiate with the supplier to resolve the problem, because that is not a risk response strategy, but rather a procurement management technique that involves reaching a mutually acceptable agreement with the supplier on the terms and conditions of the contract6. The risk manager should not assign a team member to update the issue log, because that is not a risk response strategy, but rather a risk monitoring and reporting technique that involves tracking and documenting the issues that have occurred or are currently affecting the project7. References: 1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 4143: A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 4404: A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 385: A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 4376: A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 4717: What Is an Issue Log? Templateandp; Tips7.

• Question 448:

  A risk manager and relevant stakeholders have completed a risk response plan for a project. They have identified and planned responses to the known risks; however, a risk owner has identified and reported some residual risks not previously addressed.

  What should the risk manager do first?

  A. Develop a residual risk management plan to manage the residual risks.

  B. Analyze, document, and communicate the residual risks to stakeholders.

  C. Record the residual risks in the watch list for future reference.

  D. Implement the contingency plan when the residual risks occur.

  Correct Answer: B

  Explanation: Residual risks are the risks that remain after the risk response plan has been implemented. They are the risks that are accepted by the project team and stakeholders as part of the project. Residual risks may have low probability or impact, but they still need to be monitored and controlled throughout the project. The first thing that the risk manager should do when a risk owner identifies and reports some residual risks is to analyze, document, and communicate them to the relevant stakeholders. The risk manager should assess the probability and impact of the residual risks, and determine if they require any further response or contingency plan. The risk manager should also update the risk register and the risk report with the information about the residual risks, and share them with the stakeholders who need to be aware of them. This will help the project team and stakeholders to be prepared for any potential occurrence of the residual

  risks, and to take appropriate actions if needed. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 94-95, 101.

• Question 449:

  A project manager for a predictive project just received a scope change request where additional development is required. What should the risk manager do to support the project manager with this scope change request?

  A. Evaluate any new risks that are introduced due to the change in scope.

  B. Update the risk management plan to reflect the scope change.

  C. Reassess the identified risks that impact the project scope.

  D. Update the risk register to identify, analyze, and plan a response for any new risk.

  Correct Answer: A

  Explanation: According to the PMBOK Guide, a scope change request is a formal proposal to modify any project document, deliverable, or baseline. It is an output of the Perform Integrated Change Control process, which is the process of reviewing all change requests, approving changes, and managing changes to the deliverables, organizational process assets, project documents, and the project management plan. A scope change request may introduce new risks or affect existing risks on the project, which may impact the project objectives, such as scope, schedule, cost, and quality. The risk manager should support the project manager with the scope change request by evaluating any new risks that are introduced due to the change in scope. This is because the risk manager is responsible for planning, implementing, and monitoring the risk management activities on the project, as well as communicating and reporting the risk information to the project manager and other stakeholders. The risk manager should use the appropriate risk identification and analysis techniques, such as brainstorming, interviews, checklists, SWOT analysis, cause and effect diagrams, probability and impact assessment, etc., to identify and evaluate the new risks that may arise from the scope change. The risk manager should also document the new risks in the risk register, which is a project document that contains the details of all identified individual project risks and other relevant information. The other options are not valid for what the risk manager should do to support the project manager with the scope change request: Update the risk management plan to reflect the scope change: This is not a valid option because the risk management plan is a component of the project management plan, which describes how risk management activities will be structured and performed on the project. It is an output of the Plan Risk Management process, which is the process of defining how to conduct risk management activities for a project. The risk management plan should not be updated to reflect the scope change, but rather to reflect any changes in the risk management approach, methodology, roles and responsibilities, budget, timing, risk categories, definitions, reporting formats, etc. The risk management plan should be updated only when there is a change in the risk management process, not in the project scope. Reassess the identified risks that impact the project scope: This is not a valid option because reassessing the identified risks that impact the project scope is part of the Monitor Risks process, which is the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project. The risk manager should not reassess the identified risks that impact the project scope before evaluating any new risks that are introduced due to the change in scope. The risk manager should first identify and analyze the new risks, and then reassess the existing risks to determine if they are still valid, relevant, and prioritized. Update the risk register to identify, analyze, and plan a response for any new risk: This is not a valid option because updating the risk register to identify, analyze, and plan a response for any new risk is a combination of several risk management processes, such as Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, and Plan Risk Responses. The risk manager should not update the risk register to identify, analyze, and plan a response for any new risk in one step, but rather follow the sequential and iterative risk management processes to ensure a comprehensive and consistent risk management approach. The risk manager should also coordinate and communicate with the project manager and other stakeholders when updating the risk register, as well as obtain their approval and input. References: PMBOK Guide1, Risk Management Professional (PMI-RMP) Cert Guide1

• Question 450:

  A project manager is working on a construction project. Based on past experience, the project manager identifies a risk that a supplier of a critical material may not deliver on time. The project manager has already accounted for this risk in the risk management plan. If this risk materializes, the project manager plans to procure the material from a different supplier. A potential risk in this plan is that there may be differences in the material provided by the first and second supplier.

  What type of risk is this?

  A. Residual risk

  B. Primary risk

  C. Secondary risk

  D. Normal risk

  Correct Answer: C

  Explanation: This is a secondary risk because it is a risk that arises as a direct result of implementing a risk response (in this case, procuring material from a different supplier). A secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to procure the material from a different supplier if the first supplier fails to deliver on time. The secondary risk is that there may be differences in the material provided by the first and second supplier, which could affect the quality, cost, or schedule of the project. A secondary risk is different from a residual risk, which is a risk that remains after a risk response has been implemented. A primary risk is the original risk that triggers a risk response. A normal risk is not a standard term in risk management, but it could refer to a risk that is expected or inherent in a project. References: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; A Guide to the Project Management Body of Knowledge (PMBOK Guide) Sixth Edition, page 397; Secondary vs Residual Risk | Types of Risks on the PMP Exam.