The project manager leading a company's digital signature initiative for engineering drawings has identified threats and opportunities using a strengths, weaknesses, opportunities, and threats (SWOT) analysis.What are two potential threats or opportunities under the SWOT analysis? (Choose two.)

The organization's professional engineers having reservations about possible information tampering.

A growing number of competitors with digital signatures.

The management team agreeing to include more resource for the digital signature initiative.

The organization's professional engineers having reservations about possible information tampering.

A growing number of competitors with digital signatures.

An elimination of manual steps associated with recording wet signatures

The growing adoption of mobile communications in the industry.

Business rhythm can fluctuate greatly between different industries and vary between companies within the same industry. What should be used 10 determine how often a project's risk register should be updated or reviewed in a given year when the project is in an industry with a very high business rhythm?

The risk prioritization criteria

A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue.What should the risk manager do next to find out the correct limit?

Review the agreed-upon risk tolerance

Perform a sensitivity analysis of the risk

Find out the stakeholders' risk appetite

Use industry standard risk thresholds

A project manager was informed that the testing of the latest component in the project's software update release was not successful. As a result, 1he delivery timelines for the software release wifi be delayed, The project manager did not previously capture this as a risk to the project.What should the project manager do next to avoid similar risks?

Reassess risks with a new assumptions and constraints analysis.

Add contingencies to other tasks to mitigate similar risks.

Reassess risks with a new assumptions and constraints analysis.

Review the risk response plan looking for lessons learned.

Log the event in the issue log and update the project management plan.

A project manager was informed that the testing of the latest component in the project's software update release was not successful. As a result, 1he delivery timelines for the software release wifi be delayed, The project manager did not previously capture this as a risk to the project.What should the project manager do next to avoid similar risks?

Reassess risks with a new assumptions and constraints analysis.

Add contingencies to other tasks to mitigate similar risks.

Reassess risks with a new assumptions and constraints analysis.

Review the risk response plan looking for lessons learned.

Log the event in the issue log and update the project management plan.

The project risk manager on a large firm fixed priced (FFP) contract has an up-to-date risk register with accurate and detailed information. What should the project risk manager do next?

Quantify the risk exposure that exceeds project contingency.

Recommend the removal of risks to the project manager to reduce project risk exposure.

Advise the client that the project has exhausted contingency.

Quantify the risk exposure that exceeds project contingency.

Generate reports to assess and communicate the project risk level.

An organization with a large computer network identified a potential cyber security threat. Although certain measures were implemented to avoid the risk, the cyber security threat occurs. The measures were partially successful and a new unforeseen risk emerges.What should the risk owner do?

Apply a work around to eliminate or mitigate the impact of the threat.

Develop an efficient network protection solution quickly to mitigate the risk.

Escalate the case to the risk manager and wait for their instructions.

Conduct an analysis to determine the root cause of the failed response.

Apply a work around to eliminate or mitigate the impact of the threat.

The project team has correctly identified, assessed, and planned responses for a project's risks. The risk manager is required to prepare a quarterly report on the performance of managing the risks.What are two options the risk manager should consult for the analysis? (Choose two.)

Risks that have materialized and the overall risk profile

Backlog of change orders to be submitted to client

Risks that have materialized and the overall risk profile

Number of schedule baseline changes approved

Risks due to the number of claims submitted to the client

When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

Arrange a team meeting, review the project's scope, and discuss dependency mapping

Ensure that all the relevant stakeholders participate

Request a contingency reserve from management

Arrange a team meeting, review the project's scope, and discuss dependency mapping

Ensure participants review relevant documents before attending the meeting

Ensure that all the relevant stakeholders participate

Update the risk register during the team meeting.

After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team. This is a major issue and will cause a 2-week delay in the project.How could the risk manager have avoided the board's response?

Engaging the key stakeholders during the prioritization process

Prioritizing the risks based on the project sponsor's risk appetite

Engaging with the project sponsor before presenting to the board

Working with an established industry standard prioritization method

A core project team is working on unrelated tasks in advance to reduce the risk of delay due to an external team not completing its tasks on time. The core project team has completed all possible unrelated tasks but cannot move forward, because the external team's tasks have yet to be completed.What should the risk manager do next?

Ask the risk owners to review the risk response plan.

Start a quantitative analysis to understand the impact.

Crash the schedule to mitigate the risk consequences.

Transfer the risk to the external team.

Ask the risk owners to review the risk response plan.

A company manages confidential customer information, and a data breach exposing sensitive information was discovered. What should the risk manager do?

Coordinate a response with the risk owner.

Execute the security risks contingency plan.

Get a report of customers affected by the risk.

Identify residual and secondary risks.

Coordinate a response with the risk owner.

During the weekly project meeting a risk manager identified new risks in the last sprint, which might impact the project cost by implementing mitigation plans. The sponsor and some project team members do not agree that those risks can impact the project cost.What should the risk manager do to resolve the sponsor and project team members' concerns about risk identification?

Conduct a separate meeting to show the risk identification analysis to the stakeholders.

Reinforce to the stakeholders that the risk identification was done properly during the last sprint.

Highlight the importance of agreeing on the risk identification to avoid further delays.

Conduct a separate meeting to show the risk identification analysis to the stakeholders.

Ensure that the most knowledgeable members of the team validate risk identification processes.

Some project risks are applicable for the project's lifecycle while others risks are only applicable to specific project activities. When should project risks be closed?

When the stakeholders agree a risk is no longer applicable

When the forecast activity date has been met or exceeded

When the stakeholders agree a risk is no longer applicable

When the risk has been realized and can no longer happen again

When iterative data analysis determines the risk is not applicable

A risk manager administered a pre-workshop risk survey in preparation for the upcoming workshop. The workshop invitees participated in the survey and submitted many risks encompassing all project phases and risk areas. The risk manager sorts risks by similarities and categories for the workshop.What should the risk manager do next to visually organize the risks?

Perform the analytical hierarchy process

A project manager has finished the project charter for a project and has now moved into the planning phase. In the first planning meeting, the project manager is trying to determine the risk tolerance and risk attitudes of the project's key stakeholders.What is the first resource the project manager should reference?

Enterprise environmental factors (EEFs)

A large, land-based infrastructure project has begun. The project makes assumptions about the site conditions and has economic, technical, and environmental constraintsWhat should the project manager do next to determine risk impact of assumptions and constraints?

Add the assumptions and constraints to the assumption log.

Add all assumptions and constraints to the risk register.

Add the risk impact of the assumptions in the risk register.

Add the assumptions and constraints to the assumption log.

Add the assumptions and constraints in the project charter.

During a risk reassessment workshop with the project team and some external stakeholders, two key external stakeholders are overemphasizing the impact of a few project risks. This has led to a conflict.How should the risk manager handle this situation?

Refer to the team's ground rules on how to resolve conflicts.

Request for a skilled facilitator to help resolve conflicts that have arise.

Refer to the team's ground rules on how to resolve conflicts.

Run a sensitivity analysis to check which risks have the most impact.

Use the assumption analysis techniques to validate the assumptions.

A risk manager of a complex project has identified a risk and believes a deeper understanding of the source and likelihood is necessary. How should the risk manager proceed?

Develop and employ an Ishikawa diagram

Analyze the assumptions and constraints

Perform a review of project documents

Create prompt lists for expert interviews

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?

Update the project management plan to ensure the results of the opportunities are captured.

Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.

Log the threats in the risk register to try to minimize the probability of occurrence.

Log the threats in the risk register to try to maximize the probability of occurrence.

Update the project management plan to ensure the results of the opportunities are captured.

At an oil and gas company, a major unified management information system is to be implemented. The project manager noted that risks gathered from the organization's business functions are not properly identified and categorized, making it difficult to develop an effective risk response.How should the project manager handle this situation?

Coach the functional groups on how to properly conduct the process.

Outsource conducting the risk response plan to risk consultants.

Ask functional managers to improve their risk register and process.

Adjust the risk response plans to effectively handle the identified risks.

Coach the functional groups on how to properly conduct the process.

A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.What will be the main output of this meeting?

Identifying threats and opportunities

Evaluating the project's probability of success

Identifying threats and opportunities

Evaluating the project's impact

Performing a qualitative analysis

When selecting strategies as an activity of Plan Risk Response, what is the overall goal?

Select the strategies with the greatest overall positive influence.

Select the strategies with the least overall impact to resources.

Select the strategies with the least financial impact.

Select the strategies with the greatest overall positive influence.

Select the strategies with the greatest benefit to stakeholders.

An agriculture government agency faces different challenges with farmers and landlords In implementing its ambitious growth strategy. The agency decided to establish an enterprise risk management unit to identify risks, analyze risks, and provide a handbook showing how to handle the surrounding uncertainty.What should the risk management expert recommend the agency do first to identify risks and develop the handbook?

Conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks.

Follow standard risk Identification tools dedicated for agriculture and tailor them to the environment.

Hire an agriculture expert who can develop the required handbook and discuss it with the agriculture minister.

Prepare a list of the key resources that will be used to compile a risk management plan.

Conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks.

When approving the risk contingency budget for a project, the CEO notices each team has a different approach to report risks and their impacts. The CEO decides to create a new centralized risk management function to help resolve the problem.How does centralizing the risk management function help resolve the problem?

Allows monitoring the impact against the overall project risk exposure.

Enhance the process of identification of different Individual project risks.

Allows monitoring the impact against the overall project risk exposure.

Establishes risk sources and ownership for trigger monitoring.

Creates a single repository for all project risk documents.

Which statement describes the risk portrayed on the risk matrix heat map below?

The risk has a probability of 40% of occurrence and a high impact rating.

The risk has a probability of 60% of occurrence and a medium impact rating.

The risk has a probability of 40% of occurrence and a high impact rating.

The risk has a high impact and probability of occurring.

The risk has a low probability and high impact rating.

A supplier Is delayed in delivering fuel for a project. The project manager anticipated this risk and is requesting fuel from another supplier. When speaking with the other supplier, a new risk appears because fulfilling the order will cause delays with several other projects.After performing a detailed analysis, what should the risk manager do?

Execute the approved risk response plan.

Escalate the problem to the project sponsors.

Execute the approved risk response plan.

Negotiate with the supplier to resolve the problem.

Assign a team member to update the issue leg.

A project manager wants to introduce a new technology to improve a project's performance. However, there are some costs associated that are beyond the current budget, and the proposed technology has not been applied to any previous company projects.What should the project manager do in this situation?

Take advantage of this opportunity of Improving the project performance.

Escalate this initiative to project decision makers and sponsors.

Accept the fact that there is a risk associated with this new technology.

Take advantage of this opportunity of Improving the project performance.

Outsource the implementation of the new technology as soon as possible.

A risk manager for a large project has completed documenting the risk management plan. The project is moving from planning to execution.Which three actions should the risk manager take to ensure the risk management plan remains effective during the project timeframe? (Choose 3)

Regularly check and report on the status of risks identified according to their prioritization.

Monitor the status and oversee execution of the risk response plan for each identified risk.

Ensure management reserves are sufficient to cover the mitigation plans for all identified risks.

Verify whether or not any identified risks might occur and implement the risk response plan.

Regularly check and report on the status of risks identified according to their prioritization.

Monitor the status and oversee execution of the risk response plan for each identified risk.

Ensure management reserves are sufficient to cover the mitigation plans for all identified risks.

Allocate and lock in project resources according to the initial risk prioritization for all identified risks.

A risk manager and relevant stakeholders have completed a risk response plan for a project. They have identified and planned responses to the known risks; however, a risk owner has identified and reported some residual risks not previously addressed.What should the risk manager do first?

Analyze, document, and communicate the residual risks to stakeholders.

Develop a residual risk management plan to manage the residual risks.

Analyze, document, and communicate the residual risks to stakeholders.

Record the residual risks in the watch list for future reference.

Implement the contingency plan when the residual risks occur.

PMI PMI-RMP Practice Test 3 - Free Online Exam Prep & Questions

The project risk manager for an environmental preservation project has started the process of monitoring and controlling risks, The project manager has asked the project team to document the results of this process.

How should this documentation be utilized in the future?

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PMI PMI-RMP Practice Test 3

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