PMI-RMP practice questions 51–60

1. Question 51 · 204 in bank

   During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites. The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process. What should the project manager do next?

   • ADeal with the issue and instruct the risk manager to include the risk of theft in the issue log.
   • BUpdate the project schedule and inform the stakeholders about the project schedule delay.
   • CInstruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.
   • DMake the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.

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   Answer: A

   Explanation

   the key is "include the risk of theft in the issue log." we do not include risk of theft to issue log, but to the risk register.

   Source: Adapted from community discussion — emikhael

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2. Question 52 · 204 in bank

   What steps would be used during the qualitative risk analysis process to provide input to the risk register?

   • ASelect risks characteristics, collect and analyze data, prioritize risks, categorize risks causes, document results
   • BInterviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results
   • CInterviews, expert opinions, risk manager review, prioritize risks, and document results
   • DSelect risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results

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   Answer: A

   Explanation

   Answer C is correct. As risk categories are first selected in the Plan Risk Management Process with the help of the Risk Breakdown structure. Categories of risk are specific elements within a project or its operational environment that could go wrong during the planning, implementation, or follow-up phases of an activity. These risk categories consider things such as costs, timeline, available staff, public reception, and available inventory. They look at the details that go into making a successful project and consider what would happen if one or more of those details veered off course.

   Source: Adapted from community discussion — RoyalWarrior

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3. Question 53 · 204 in bank

   A project manager is creating a risk management plan. The project sponsor does not see the need for additional risk management, believing that the only risks to the project are financial risks. What procedure could the project manager use to identify other potential topics such as technical, quality, performance, project management, internal and external risks?

   • AReview enterprise environmental factors.
   • BPerform Monte Carlo analysis and Delphi technique.
   • CPerform decision tree analysis and create an Ishikawa diagram.
   • DUse existing prompt lists and risk breakdown structure.

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   Answer: D

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4. Question 54 · 204 in bank

   Two companies merge. The executive leadership team for the newly formed company hires a project risk manager to integrate both companies' technology platforms into a single global platform. Since success of this integration project is critical for the new company, the project risk manager determines that risk management is vital. What factors does risk response planning include?

   • APeople, planning, and analysis
   • BPeople, planning, and avoidance
   • CPlanning, avoidance, and analysis
   • DPeople, avoidance, and analysis

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   Answer: C

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5. Question 55 · 204 in bank

   The risk manager is documenting the results of the Monitor Risks process to add them to the lessons learned database. A ) Effectiveness of risk response B ) Unexpected or undocumented risks which occur C ) Relevant risk data - D ) Management reserve report - Which of the following should be included?

   • AA, B, C
   • BA, C, D
   • CB, C, D
   • DA, B, D

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   Answer: A

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6. Question 56 · 204 in bank

   During the risk Monitor and Control Project Work process, the scope, schedule, and cost begin to increase. What outputs should be updated and/or created?

   • AProject management plan, project documents, and human resource plan
   • BChange requests, project management plan, and project documents
   • CChange requests, cost plan, and project documents
   • DEnterprise environmental factors, change requests, and project management plan

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   Answer: B

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7. Question 57 · 204 in bank

   

   Given the output from the Monte Carlo simulation, what is the probability of a successful completion within the project budget?

   • A30% probability of meeting project budget
   • B46% probability of meeting project budget
   • C56% probability of meeting project budget
   • D60% probability of meeting project budget

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   Answer: C

   Explanation

   should be C : because at 50% the estimated cost is $1,635,00 and at 60% the estimated cost is $1,662,000. The total project cost is $1,655,000 which is between 50% - 60%

   Source: Adapted from community discussion — emikhael

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8. Question 58 · 204 in bank

   The risk manager for a project successfully establishes the risk management plan, the risk register and performs the qualitative risk analysis with the team. As the first step of the analysis, the risk manager develops the probability and impact scales. The scales are presented to the project manager, who refuses to accept the proposed scales. What did the risk manager overlook prior to developing probability and impact scales?

   • AGaining approvals for the developed risk register from the project manager
   • BInforming the project manager about the risk management process
   • CEvaluating and understanding the risk appetite of the stakeholders
   • DInterviewing the stakeholders and related parties

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   Answer: C

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9. Question 59 · 204 in bank

   Select 2

   A new risk manager has been hired on a project and meets with the project director. The project director supplies the project’s risk register and asks the risk manager for an analysis of its effectiveness. What two actions should the risk manager do next? (Choose two.)

   • ACheck for risk classification and that probability and impact are identified.
   • BCheck to ensure that the risk is supported by a Monte Carlo simulation.
   • CCheck to ensure the risk meeting agenda and supporting documents are distributed.
   • DCheck to ensure that risk origin, triggering event, and ownership is identified.
   • ECheck to ensure that the risks are gathered using Delphi technique.

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   Answer: AD

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10. Question 60 · 204 in bank

    During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?

    • ATake note of the extensive impact of these risks in the risk register
    • BAddress the unique characteristics of these risks on a case-by-case basis
    • CInclude an escalation process in the risk management plan
    • DContact the risk managers of the other projects and inform them

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    Answer: C

    Explanation

    Escalation is appropriate when the project team or the project sponsor agrees that a threat is outside the scope of the project or that the proposed response would exceed the project manager’s authority. Escalated risks are managed at the program level, portfolio level, or other relevant parts of the organization, and not at the project level. The project manager determines who should be notified about the threat and communicates the details to that person or part of the organization. It is important that ownership of escalated threats is accepted by the relevant party in the organization. Threats are usually escalated to the level that matches the objectives that would be affected if the threat occurred. Escalated threats are not monitored further by the project team after escalation, although they may be recorded in the risk register for information. PMBOK6 Page# 442.

    Source: Adapted from community discussion — AllPMI

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PMI-RMP practice, question 51. 204 questions available.