Study PMI PMI-RMP Materials - PMI-RMP Test Dumps.zip

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PMI Risk Management Professional Sample Questions (Q228-Q233):

NEW QUESTION # 228
The project manager has completed four projects all with similar scope. The project manager has recently been assigned to start on a new project and believes some risks may occur again on this project.
What should the project manager do?

A. Implement the risk response strategies into the risk plan.
B. Add the risks to the risk register and determine a contingency.
C. Discuss and evaluate the identified risks with the project team.
D. Inform the sponsor that these risks should be added according to experience.

Answer: C

Explanation:
The project manager should discuss the identified risks with the project team to ensure that everyone is aware of the potential risks and can provide input on the likelihood and impact of each risk. This collaborative approach will help in developing a comprehensive risk management plan.
The project manager should discuss and evaluate the identified risks with the project team, as this is part of the risk identification process. The project manager can use their experience from previous projects to identify potential risks that may occur again on the new project, but they should also involve the project team to obtain their input and perspectives. The project team can help the project manager to validate, refine, and prioritize the identified risks, as well as to suggest possible risk responses. The project manager should document the identified risks and their characteristics in the risk register, which is a tool for risk management. The other options are not appropriate actions for the project manager to take. Implementing the risk response strategies into the risk plan is premature, as the project manager should first analyze and evaluate the risks before deciding on the best response strategies. Informing the sponsor that these risks should be added according to experience is not sufficient, as the project manager should also consult the project team and other stakeholders to ensure that all relevant risks are identified and assessed. Adding the risks to the risk register and determining a contingency is part of the risk analysis and response planning processes, which come after the risk identification process. The project manager should first discuss and evaluate the identified risks with the project team before moving to the next steps of risk management. References: 2, 3, [5]

NEW QUESTION # 229
A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.
What should the project team do next?

A. Log the threats in the risk register to try to maximize the probability of occurrence.
B. Update the project management plan to ensure the results of the opportunities are captured.
C. Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
D. Log the threats in the risk register to try to minimize the probability of occurrence.

Answer: B

Explanation:
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all the subsidiary plans and baselines from the project management processes1. The project management plan should be updated whenever there are changes in the project scope, schedule, cost, quality, resources, communications, risks, procurements, or stakeholder engagement2. In this case, the project team has decided to log the opportunities in the current project's risk register, which is a component of the project management plan. Opportunities are positive risks that may have a beneficial effect on the project objectives, such as cost savings, schedule acceleration, or quality improvement3. Therefore, the project team should update the project management plan to ensure the results of the opportunities are captured and reflected in the relevant subsidiary plans and baselines. For example, if an opportunity leads to a cost saving, the project team should update the cost management plan and the cost baseline accordingly.

NEW QUESTION # 230
Shelly is the project manager of the BUF project for her company. In this project Shelly needs to establish some rules to reduce the influence of risk bias during the qualitative risk analysis process. What method can Shelly take to best reduce the influence of risk bias?

A. Determine the risk root cause rather than the person identifying the risk events
B. Group stakeholders according to positive and negative stakeholders and then complete the risk analysis
C. Establish risk boundaries
D. Establish definitions of the level of probability and impact of risk event

Answer: D

NEW QUESTION # 231
Your organization, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?

A. The level of detail and reassessment should reflect the priority of the project.
B. The amount of detail of repetition that is appropriate depends on how the project progresses relative to its objectives.
C. The probability and impact of risk event should determine the level of reassessment throughout the project lifecycle.
D. Each risk reassessment should go into the same depth as the original risk assessment activity.

Answer: B

NEW QUESTION # 232
In order to monitor risks in an infrastructure improvement project, the risk manager uses methods to support effective responses to risks that have occurred. Which of the following is an example of such a method?

A. Ongoing risk response analysis and risk audits as required
B. Risk analysis and performance reports preparation
C. Risk analysis and risk register review
D. Risk audits and change request review

Answer: A

NEW QUESTION # 233
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Study PMI PMI-RMP Materials - PMI-RMP Test Dumps.zip

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PMI Risk Management Professional Sample Questions (Q228-Q233):

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