Pass4sure PMI-RMP Pass Guide Exam Latest Release | Updated PMI Authorized PMI-RMP Certification

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PMI Risk Management Professional Sample Questions (Q115-Q120):

NEW QUESTION # 115
One project in a program needs to be completed in 6 months because there is a large bonus for early completion. Consequently, the program manager transfers all resources to this project and arranges for employees to receive overtime pay.
Which risk response strategy is the program manager using in this scenario?

A. Escalate
B. Enhance
C. Transfer
D. Exploit

Answer: D

NEW QUESTION # 116
You are the project manager of the AFD project for your company. You are working with the project team to reassess existing risk events and to identify risk events that have not happened and whose relevancy to the project has passed. What should you do with these events that have not happened and would not happen now in the project?

A. Add the risks to the risk register
B. Close the outdated risks
C. Add the risk to the issues log
D. Add the risks to a low-prioritywatchlist

Answer: B

NEW QUESTION # 117
While planning for project execution phase stakeholders are making decisions on how to respond to known and new risks. What artifact should the stakeholders prepare?

A. Assumption log
B. Risk-adjusted back log
C. Issue log
D. Change log

Answer: B

Explanation:
The stakeholders should prepare a risk-adjusted backlog when making decisions on how to respond to known and new risks. A risk-adjusted backlog helps prioritize work items based on their risk level and potential impact on the project.
A risk-adjusted backlog is an artifact that reflects the prioritization of the product backlog items based on their risk exposure. It is used to plan for the execution phase of an agile project, where the stakeholders can decide how to respond to known and new risks by selecting the most valuable and least risky items to deliver. A risk-adjusted backlog can help the stakeholders to optimize the value delivery and reduce the uncertainty of the project outcomes. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 113; PMI, Agile Practice Guide, 2017, p. 54.

NEW QUESTION # 118
Gary is the project manager for his organization. He is working with the project stakeholders on the project requirements and how risks may affect their project. One of the stakeholders is confused about what constitutes risks in the project. Which of the following is the most accurate definition of a project risk?

A. It is an uncertain event that can affect at least one project objective.
B. It is an uncertain event or condition within the project execution.
C. It is an uncertain event that can affect the project costs.
D. It is an unknown event that can affect the project scope.

Answer: A

NEW QUESTION # 119
While implementing the risk response plan for a previously identified risk, some secondary risks were identified but not captured on the risk register. The project manager decided to review the risk management plan to ensure this does not happen for future, similar situations.
What should the project manager do next?

A. Develop risk response plans for all identified risks.
B. Update the communications management plan to avoid future issues
C. Monitor and control secondary and residual risks in the risk register.
D. Identify secondary or residual risks for associated risk plans.

Answer: D

Explanation:
The project manager should monitor and control secondary and residual risks in the risk register. This will ensure that any new risks identified during the implementation of the risk response plan are captured and managed effectively. Monitoring and controlling risks is a continuous process that helps in identifying, analyzing, and planning for new risks as well as updating the risk register as needed.
According to the PMI Risk Management Professional (PMI-RMP)®Examination Content Outline, one of the tasks under the domain of Risk Response Planning is to "identify and assess the effectiveness of alternative strategies to reduce threats or enhance opportunities, such as mitigation, transference, avoidance, and acceptance" 1. This implies that the project manager should also consider the potential secondary or residual risks that may arise from implementing the chosen risk response strategy. Secondary risks are new risks that are created as a direct result of implementing a risk response, while residual risks are those that remain after the risk response has been executed 2. Both types of risks should be identified and assessed for their impact and probability, and added to the risk register for further monitoring and control. Therefore, the correct answer is A.
References: 1: PMI Risk Management Professional (PMI-RMP)®Examination Content Outline, page 91 2:
A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 4362

NEW QUESTION # 120
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Pass4sure PMI-RMP Pass Guide Exam Latest Release | Updated PMI Authorized PMI-RMP Certification

Authorized PMI-RMP Certification | PMI-RMP Online Version

PMI Risk Management Professional Sample Questions (Q115-Q120):

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