PMI-RMP practice questions 171–180

1. Question 171 · 204 in bank

   When monitoring the execution quality of risk-related plans and processes, which of the following would be a useful metric to track and record?

   • AThe number of risks in the project risk register
   • BThe degree of variation from the baseline
   • CThe number of levels in the risk breakdown structure
   • DThe degree of variation from the risk response strategy

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   Answer: B

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2. Question 172 · 204 in bank

   A project manager identifies a risk in a multifunctional project and decides to take no action. What should the risk manager do if the risk occurs?

   • AImplement a workaround.
   • BCreate a change request.
   • CImplement a contingency or fallback plan.
   • DReview the project management plan.

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   Answer: C

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3. Question 173 · 204 in bank

   The project manager must evaluate two separate contractors for a project with an absolute finish date of 15 December. After performing a Monte Carlo assessment on the submitted schedules, the following information is found:

   

   Which contractor should be chosen, because of having the highest statistical output?

   • AContractor A should be chosen based on confidence level.
   • BContractor B should be chosen based on probability.
   • CContractor A should be chosen based on probability and confidence level.
   • DContractor B should be chosen based on probability and confidence level.

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   Answer: C

   Explanation

   Correct answer C. Multiply the probability and the confidence for each seller then select the higher one (0.50×0.60) 0.3 > 0.26 (0.65x0.40) so select seller A.

   Source: Adapted from community discussion — AllPMI

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4. Question 174 · 204 in bank

   When analyzing the reward system in a company, there is evidence that "fire-fighter behavior" is the highest rewarded behavior. It suggests that people are dealing with major problems primarily in an emergency mode, and deploying quickly. Secondly, those who work efficiently are getting the most attention and recognition for their efforts. What impact does this observation potentially have on the risk management process?

   • ANothing, since the reward system does not have any impact on the risk management process.
   • BIt means that this company's culture does not reward all people, and it gives little attention to proactive behavior such as risk management.
   • CIt does not matter as each project has its own rewards system with no relationship to the company's rewards.
   • DThis is a positive situation for risk management, since it encourages quick deployment of solutions and workarounds when necessary.

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   Answer: B

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5. Question 175 · 204 in bank

   Which of the following techniques for planning risk response can provide a means of identifying symptoms for use as trigger conditions for contingency responses?

   • ARoot cause analysis
   • BQuantitative risk analysis
   • CEnsuring that actions are available to address significant events before their occurrence
   • DInvolving selected experts in the process

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   Answer: C

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6. Question 176 · 204 in bank

   What is the purpose of mitigating negative risks as a part of the risk response process?

   • ATo transfer the probability of a risk happening to a third party, and to reduce the severity of the impact
   • BTo reduce the probability of a risk happening, and/or reduce the severity of the impact
   • CTo accept the probability of a risk happening to reduce the severity of the impact
   • DTo increase the probability of a risk happening, but reduce the severity of the impact

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   Answer: B

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7. Question 177 · 204 in bank

   What best describes the job of a risk owner?

   • AResponsible and accountable for managing risks
   • BCreating a detailed description of a risk
   • CResponsible and accountable for the risk management plan
   • DActively involved in the identification of new risks

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   Answer: A

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8. Question 178 · 204 in bank

   A six-month, USS1.2 million project is two months completed. The project has 3 high, 6 medium, and 2 low risks, with a 10% reserve for known risks, and a 5% reserve for unknown risks. Most of the project's reserves have not been spent. The risk manager, who is also the project schedule manager, establishes monthly risk management reviews to evaluate performance. So far, the project has missed 50% of the planned risk mitigation milestones. Based on this project data, what technique should the risk manager recommend to improve the risk management process?

   • AIncrease the risk manager's position to a full-time position and acquire a dedicated project schedule lead.
   • BAdjust project risk thresholds to increase the number of residual risks on the project.
   • CIncrease the frequency of risk status meetings and update the risk management plan.
   • DPerform a variance analysis and potentially allocate more reserves to improve risk mitigation.

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   Answer: C

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9. Question 179 · 204 in bank

   Which of the following best describes the strength of the probability and impact matrix for qualitative risk analysis?

   • AIt is well-suited to a decision tree analysis.
   • BIt assists in handling other factors such as urgency and manageability that may partly determine the risk's ranking.
   • CIt provides expert facilitators for the quantitative risk analysis.
   • DIt reflects the organization's level of risk appetite.

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   Answer: B

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10. Question 180 · 204 in bank

    The risk manager and the project team conduct a risk brainstorming session for a new project. The risk manager wants to involve the entire project team in a group risk prioritization exercise for the identified risks. The project manager refuses the involvement of the entire project team due to resource concerns. What should the risk manager do?

    • AConvince the project manager of the importance of the whole project team's involvement in the full risk process.
    • BContinue to involve the project team in the risk prioritization process and then discuss lessons learned with the project manager.
    • CFollow the project manager's instruction, as the project manager is the responsible party.
    • DInform the sponsor about the project manager's decision and the disagreement between parties.

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    Answer: A

    Explanation

    Convince the project manager about the importance of the project team members in all risk management process. Everyone should be involved in the Project Risk Management process "risk management is everyone’s responsibility". It's a key success factor of risk management. The reference is the standard for risk management in portfolios, programs, and projects page#17.

    Source: Adapted from community discussion — AllPMI

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PMI-RMP practice, question 171. 204 questions available.