PMI-RMP practice questions 91–100

1. Question 91 · 204 in bank

   Select 3

   A project that was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up, the project manager is developing the risk planning for the project. What three artifacts should the project manager consult or review during this process? (Choose three.)

   • ARisk management plan
   • BCode of regulations
   • CProject contracts
   • DRisk register
   • ELessons learned registers from analogous projects

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   Answer: ADE

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2. Question 92 · 204 in bank

   During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk. What should the risk manager do to handle this situation?

   • AAsk the project sponsor for more budget to deal with this risk.
   • BRevisit this risk in the risk register and redefine the mitigation strategy.
   • CMark this new risk as an extremely high priority and inform all stakeholders.
   • DActivate the contingency plan to handle this risk during execution.

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   Answer: D

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3. Question 93 · 204 in bank

   During a risk reassessment workshop with the project team and some external stakeholders, two key external stakeholders are overemphasizing the impact of a few project risks. This has led to a conflict. How should the risk manager handle this situation?

   • ARequest for a skilled facilitator to help resolve conflicts that have arisen.
   • BUse the assumption analysis techniques to validate the assumptions.
   • CRefer to the team’s ground rules on how to resolve conflicts.
   • DRun a sensitivity analysis to check which risks have the most impact.

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   Answer: D

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4. Question 94 · 204 in bank

   A project manager was informed that the testing of the latest component in the project’s software update release was not successful. As a result, the delivery timelines for the software release will be delayed. The project manager did not previously capture this as a risk to the project. What should the project manager do next to avoid similar risks?

   • AAdd contingencies to other tasks to mitigate similar risks.
   • BReview the risk response plan looking for lessons learned.
   • CReassess risks with a new assumptions and constraints analysis.
   • DLog the event in the issue log and update the project management plan.

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   Answer: C

   Explanation

   The best answer would be C, reassess risks with a new assumptions and constraints analysis. When a risk event occurs that was not previously identified, it is important for the project manager to review the project's risk management plan and identify any potential gaps or weaknesses in the risk identification process. One way to do this is to perform a new assumptions and constraints analysis to identify any potential risks that may have been overlooked or underestimated. This can involve reviewing the project's assumptions, constraints, and dependencies, as well as examining any changes that may have occurred since the initial risk assessment was conducted. By performing a new assumptions and constraints analysis, the project manager can identify any new or emerging risks that may impact the project, and can develop appropriate response strategies to mitigate or reduce the impact of those risks. This can help to ensure that the project is able to effectively manage risks throughout the project lifecycle and avoid similar risks in the future.

   Source: Adapted from community discussion — IBANGA007

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5. Question 95 · 204 in bank

   The project manager generates a monthly risk report for key stakeholders which documents high and medium risk items only. Where would the project manager find the list of recipients for the report?

   • ACommunications management plan
   • BRisk management plan
   • CRisk register
   • DProject charter

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   Answer: A

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6. Question 96 · 204 in bank

   At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization’s business functions are not properly identified and categorized, making it difficult to develop an effective risk response. How should the project manager handle this situation?

   • AAdjust the risk response plans to effectively handle the identified risks.
   • BOutsource conducting the risk response plan to risk consultants.
   • CAsk functional managers to improve the risk register and process.
   • DCoach the functional groups on how to properly conduct the process.

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   Answer: D

   Explanation

   D. Coach the functional groups on how to properly conduct the process. If a project manager at an oil and gas company has identified that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response, the most effective approach would be to coach the functional groups on how to properly conduct the process. This could involve providing guidance and training on how to identify and categorize risks effectively, as well as how to develop appropriate risk response strategies. It may also be useful to review the current risk identification and management processes to identify any areas for improvement and make necessary changes.

   Source: Adapted from community discussion — IBANGA007

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7. Question 97 · 204 in bank

   What would be the next step after determining the agreed-upon risk response for a specific risk?

   • AAdd the risk response to the project management plan and document the predicted exposure.
   • BEvaluate the project related implications and update the risk response to the project management plan if needed.
   • CDocument the predicted exposure.
   • DCommunicate to stakeholders.

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   Answer: D

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8. Question 98 · 204 in bank

   An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50,000. Risk B has a probability of 0.7 and an impact of US$60,000. After implementing the planned risk response for risk B, the probability of risk B has been reduced to 0.3. What is the current project risk exposure?

   • AUS$30,000
   • BUS$72,000
   • CUS$48,000
   • DUS$18,000

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   Answer: C

   Explanation

   The current project risk exposure is C, US$48,000. Risk exposure refers to the potential impact or cost of a risk on a project, and is typically calculated by multiplying the probability of the risk occurring by the potential impact or cost if it does occur. In this situation, the IT project is 40% complete, and two risks (A and B) have been identified. Risk A has a probability of 0.6 and an impact of US$50,000, while risk B has a probability of 0.7 and an impact of US$60,000. After implementing the planned risk response for risk B, the probability of risk B has been reduced to 0.3. To calculate the current risk exposure for the project, the risk manager would need to multiply the probability of each risk occurring by the potential impact or cost if it does occur. For risk A, this would be 0.6 * $50,000 = $30,000, and for risk B it would be 0.3 * $60,000 = $18,000. The total risk exposure for the project would then be $30,000 + $18,000 = $48,000. Other potential answers, such as US$30,000, US$72,000, or US$18,000, are not correct because

   Source: Adapted from community discussion — IBANGA007

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9. Question 99 · 204 in bank

   A CEO wants to reduce costs in the time spent for risk management activities. What step did the risk manager fail to perform?

   • AAssigning the CEO as a risk owner
   • BPreventing all issues from occurring
   • CProperly communicating the risk management activities and their outcomes
   • DExplaining the purpose of the management reserve

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   Answer: C

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10. Question 100 · 204 in bank

    Select 2

    The project manager asks the risk manager to determine the initial risk assessment for a six month conduct the related analysis? (Choose two.)

    • AConfiguration management plan
    • BBrainstorming
    • CProject organizational chart
    • DMonte Carlo analysis
    • EWork breakdown structure (WBS)

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    Answer: BE

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PMI-RMP practice, question 91. 204 questions available.