Question 31 · 204 in bank
What quantitative tools and techniques are used to perform risk analysis in order to support stakeholder decision making for the project?
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Answer: B
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PMI-RMP practice questions 31–40
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Question 32 · 204 in bank
The sponsor hires a program manager as a consultant to evaluate a change program currently underway. The leading program manager tells the consultant that the program, currently in the execution phase, is in good standing, and detailed plans are available for review. The consultant reviews the project documentation and talks to the stakeholders, finding the opposite to be true. The project must be in recovery mode to get it back on track, and it is still in the planning phase. There is low morale among the team members, the meetings are poorly managed, the detailed schedule has gaps, the risk register has not been updated for months, communications and detailed resource plans do not exist, and contract negotiations with a key vendor are behind schedule for critical deliverables. What is the first course of action the program manager should take based on the current state?
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Answer: D
Question 33 · 204 in bank
The project manager needs to create a risk management plan for a high risk project, but the company's senior management does not see value in spending time documenting major risks instead of leading the project. What is the most appropriate action for the project manager to take first?
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Answer: A
Question 34 · 204 in bank
A common understanding of the value of risk management among key stakeholders is an effective foundation to managing risk effectively. The project manager should ensure training is provided to which of the following groups to create this understanding?
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Answer: D
Question 35 · 204 in bank
Most risks are assessed for probability and impact. Which of the following are other factors that should be considered?
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Answer: C
Question 36 · 204 in bank
A risk manager schedules a project overview meeting with the project sponsor to provide an update on risk management progress. Each functional lead is identifying the most critical information to be presented at an executive level. The information must balance communicating essential information with actions and recommendations. What risk information should be communicated to the project sponsor?
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Answer: A
Question 37 · 204 in bank
A project manager wants to represent the distribution of uncertainty around a risk model element. However, good data on the variability of the risk model element has not been collected, and only contains minimum and maximum values. What curve should the project manager use to represent the distribution?
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Answer: A
Explanation
Answer A is correct. A uniform distribution is a type of probability distribution in which all outcomes are equally likely. It is also known as a rectangular distribution because the probability density function of the uniform distribution is a constant within the given range and zero outside the range. The uniform distribution does not have any specific parameters; it only contains the minimum and maximum values of the range. It is also the most commonly used probability distribution in uncertainty analysis.
Source: Adapted from community discussion — RoyalWarrior
Question 38 · 204 in bank
The project manager of a project in trouble actively participates in a project risk assessment. After the assessment is complete, the project manager receives the final results. What is the best recommended action to be taken from this point onward?
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Answer: B
Question 39 · 204 in bank
The risk manager evaluates two contractors, contractor A and contractor B, for a project with a finish date of 15 December. The contractors' bids are the same, including the cost. After performing a Monte Carlo assessment on the contractors' schedules, the risk manager returns the following information:
In order for contractor A to meet the finish date of 15 December, it will cost an additional US$750,000, and will not change the confidence level. In order for contractor B to meet the finish date of 15 December, it will cost an additional US$600,000, and will increase the confidence level by 10%. Which contractor should the risk manager select?
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Answer: B
Explanation
Contractor B has both a higher probability of completion and a higher confidence level, making it the preferred choice. Additionally, the additional cost of US$600,000 seems justified given the improvement in confidence level.
Source: Adapted from community discussion — MikeMarlo
Question 40 · 204 in bank
After years of experience, a project manager becomes the lead manager for a company. This new lead manager asks all project managers to use a specific technique when they perform qualitative risk analysis on their projects. This technique consists of achieving the relative weighting of the project's objectives in terms of priority to the stakeholders. What is the name of this technique?
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Answer: D
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