EXAM PMI-RMP COURSE | EXAMCOLLECTION PMI-RMP DUMPS TORRENT

Exam PMI-RMP Course | Examcollection PMI-RMP Dumps Torrent

Exam PMI-RMP Course | Examcollection PMI-RMP Dumps Torrent

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PMI Risk Management Professional Sample Questions (Q85-Q90):

NEW QUESTION # 85
In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early completion.
In implementing this plan, which response should the risk manager use?

  • A. Exploit
  • B. Enhance
  • C. Share
  • D. Accept

Answer: A

Explanation:
The appropriate risk response for an opportunity where the project team plans to assign more resources to ensure the company receives an incentive payment for early completion is to "Exploit." Exploiting a risk means taking action to ensure that the opportunity is realized, particularly when it is an opportunity with a positive impact that the project team wants to guarantee. In this case, the opportunity to complete the project early and receive an incentive payment aligns with the definition of an "Exploit" response, as it is an active approach to maximize the benefits from the opportunity.


NEW QUESTION # 86
A project team is concerned about a risk which, if occurs, might add additional complexity to their work. The team will need help from an external vendor, but the contracting process is long.
What should the risk manager do in this case?

  • A. Proceed with the quantitative risk analysis.
  • B. Document the risk in the risk register for analysis.
  • C. Document the detailed risk consequences,
  • D. Immediately start the contracting process.

Answer: B

Explanation:
If a risk requires external help and the contracting process is long, it is prudent to start the process immediately to avoid delays. This proactive approach ensures that the necessary resources will be available when needed. According to PMI guidelines, early action to address risk is essential, especially when external dependencies are involved. Documenting the risk in the risk register or analyzing it further can be done concurrently, but starting the contracting process mitigates the risk of delay.


NEW QUESTION # 87
Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted.
What will help calculate the impact?

  • A. Risk evaluation
  • B. Risk identification
  • C. Risk analysis
  • D. Risk treatment

Answer: C

Explanation:
Explanation
Risk impact assessment involves calculating the impact of identified risks. Risk analysis is the process of examining, estimating, and evaluating the impact of risks, which helps in calculating the impact (Reference:
PMBOK Guide, 6th Edition, p. 417)
Risk analysis is the process of assessing the likelihood and impact of the identified risks on the program objectives. It helps to calculate the impact of the risks by using qualitative or quantitative methods. Risk analysis can provide useful information for risk prioritization, risk response planning, and risk reporting.
References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 67; PMI, The Standard for Program Management, Fourth Edition, 2017, p. 113.


NEW QUESTION # 88
The project manager asks the risk manager to determine the initial risk assessment for a six month initiative that is about to kick-off. Which two artifacts will help the risk manager conduct the related analysis? (Choose two.)

  • A. Monte Carlo analysis
  • B. Brainstorming
  • C. Configuration management plan
  • D. Project organizational chart
  • E. Work breakdown structure (W&S)

Answer: D,E

Explanation:
According to the PMBOK Guide, one of the tools and techniques for the identify risks process is data gathering. Data gathering is the process of collecting information from various sources to identify potential risks that may affect the project objectives. One of the data gathering techniques is document analysis, which involves reviewing and analyzing available project documents and other information sources to identify potential risks1.
Two of the artifacts that will help the risk manager conduct the initial risk assessment for a six month initiative are the work breakdown structure (WBS) and the project organizational chart. These are two of the project documents that can be analyzed for potential risks in the project.
* The work breakdown structure (WBS) is a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
The WBS represents the work defined in the current approved project scope statement and provides the framework for detailed cost estimating, resource planning, and risk management. By reviewing the WBS, the risk manager can identify potential risks that are associated with each work package, deliverable, or scope element, such as technical complexity, quality requirements, dependencies, assumptions, constraints, and uncertainties1.
* The project organizational chart is a graphical representation of the project team members and their reporting relationships. The project organizational chart depicts the roles and responsibilities of the project team, as well as the communication channels and authority levels among the team members and other stakeholders. By reviewing the project organizational chart, the risk manager can identify potential risks that are related to the project team structure, such as resource availability, skill gaps, team dynamics, stakeholder expectations, and conflict resolution1.
Some of the other options are not relevant or appropriate for the question scenario:
* The configuration management plan is a component of the project management plan that describes how the project team will manage the configuration of the project's deliverables and documentation. The configuration management plan defines the processes, tools, and methods for identifying, controlling, tracking, and auditing the changes to the project's baselines. The configuration management plan is not an artifact that will help the risk manager conduct the initial risk assessment, as it does not provide information on the potential risks that may affect the project objectives or scope1.
* Brainstorming is a technique for the identify risks process that involves generating a list of potential risks through a group discussion. Brainstorming is not an artifact, but rather a tool and technique for identifying risks. Brainstorming can help the risk manager conduct the initial risk assessment, but only after reviewing and analyzing the available project documents and information sources1.
* Monte Carlo analysis is a technique for the perform quantitative risk analysis process that involves simulating the combined effect of individual project risks and other sources of uncertainty on the project objectives, such as cost or schedule. Monte Carlo analysis is not an artifact, but rather a tool and technique for analyzing risks. Monte Carlo analysis can help the risk manager conduct the initial risk assessment, but only after identifying and prioritizing the individual project risks and their probability and impact1.
References: PMBOK Guide, 6th edition, pages 397-399, 414-415, 431-432, 441-442, 156-157, 168-169, 89-
901; PMI-RMP Exam Content Outline, 2015, page 7.


NEW QUESTION # 89
In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?

  • A. Initiating
  • B. Planning
  • C. Closing
  • D. Executing

Answer: A


NEW QUESTION # 90
......

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