During a risk identification session, the risk manager notices that subject matter experts (SMEs) are reluctant to participate because some risks could expose the poor maturity of processes in other business units. Which risk analysis technique should the risk manager use?

Strengths, weakness, opportunities, and threats (SWOT) analysis

During a risk identification process in a construction project, the lack of space to install air conditioners is raised as a risk with high impact. Which is an example of an early risk trigger?

A potential need to share the space with other machinery

A different type of equipment received before installation

A time delay during air conditioning installation activities

A quality nonconformance issue raised during the inspection

A risk manager for a cross-functional project is initiating the risk identification process. The risk manager conducted some meetings for stakeholders to express their concerns, but some stakeholders are complaining that their opinions were not considered.How should the risk manager address these concerns?

Review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input.

Refer to the requirements documentation to confirm stakeholder requirements as they relate to risks.

Refer to the project charter to find guidelines and stakeholder communication channels.

Review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input.

Rewrite the risk register to include the additional possible risks and inform the stakeholders.

An organization faces immense competition in the market and decides to accelerate a key project. What is the first action for the project risk manager to take?

Revise the risk management plan

Meet with the project's stakeholders

Revise the risk management plan

Ensure sufficient resources are available

A project team has just initiated a large project to move an organization's headquarters to another location. The risk manager has scheduled a risk identification session but notices that the project charter, work breakdown structure (WBS). and scope statement are not available.What should the risk manager consider?

Risk evaluation will be challenging without these elements as a frame of reference.

Aligning with the project manager to hold an open brainstorm session with all stakeholders will suffice.

The ideal solution is to find alternate documents that provide good visibility on the environment.

The risk identification process can be carried out as long as the project statement is available.

Risk evaluation will be challenging without these elements as a frame of reference.

A new risk manager has been assigned to a delayed strategic project. The risk manager presented a new plan to get the project back on track using lessons learned and applying risk response strategies. Senior management wants to remove contingency reserves because they want to finish the project earlier.What should the risk manager do in this scenario?

Conduct a risk planning workshop.

Review project schedule estimates.

Change the response strategies.

Reduce the contingency reserves.

Conduct a risk planning workshop.

A risk manager is assigned to a new system deployment project with a strict contractually agreed-on schedule. One of the key risks identified is the availability of experts because many are shared on other strategic projects in the organization.What should the risk manager do to address this situation?

Implement a disciplined tracking method and report to stakeholders accordingly.

Call for a project team meeting to review risk strategies and make required adjustments.

Escalate the staffing topic to the sponsor and request more budget for contingencies.

Revisit the project charter for scope adjustments and sign them off with the customer.

An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register.What should the risk manager do next?

Assess the identified secondary risk.

Implement the risk response plan.

Implement the risk contingency plan.

Communicate the identified residual risk.

A risk manager for a financial organization is assigned to support a project team in developing a custom software solution to manage loans. Which document should the risk manager request first from the project sponsor to identify major risks?

Organization's mission and vision

Historical data from the credit portfolio

As a project approached completion, a risk manager conducted a risk response audit and verified the effectiveness of risk responses. What should the risk manager do next?

Close and communicate the results of the risk response actions.

Run a workshop to analyze the effectiveness of the risk plan.

Conduct a risk reserve analysis and document the results.

Verify that all risk response actions have been documented.

A risk manager and project team are managing a software system project, which is expected to be completed within 12 months. The project is currently halfway through, and the team has just delivered the second version of the prototype. During the weekly status meeting, a team member reported that an important stakeholder is facing an issue, which will likely result in a change request that is outside the scope of the current prototype.What should the risk manager advise the team to do first?

Add the risk to the risk register and gather information about its probability and impact.

Mitigate the risk by asking the team member to gather more information.

Add the risk to the issue log and revisit it when there is more information.

Arrange a meeting with the stakeholder to discuss the risk and information.

Add the risk to the risk register and gather information about its probability and impact.

During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.Which tool should the project team use to determine this?

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

Some issues and unexpected results were found after completing the first phase of a project. The project team is planning the next phase and team members want to avoid the previous issues.What should the risk manager do to avoid the previous issues?

Use the information for a risk workshop.

Improve monitoring and controlling of activities.

Document the issues in the lessons learned.

Create an issue log to share with the team.

A project manager for a predictive project just received a scope change request where additional development is required. What should the risk manager do to support the project manager with this scope change request?

Evaluate any new risks that are introduced due to the change in scope.

Update the risk management plan to reflect the scope change.

Reassess the identified risks that impact the project scope.

Update the risk register to identify, analyze, and plan a response for any new risk.

In the middle of a construction project, the primary construction materials provider canceled the contract and moved to a competitor offering a higher price. The risk manager considers this a low-impact issue because many construction materials providers can fulfill the project demands. However, after informing the stakeholders of this issue, the major investor is about to drop their intention to continue executing the project. The risk manager does not understand their decision.What should the risk manager do next to understand the major stakeholder's decision regarding the project?

Perform a stakeholder impact and influence analysis.

Perform a risk impact analysis.

Perform a risk reserve analysis.

Perform a procurement analysis.

Perform a stakeholder impact and influence analysis.

A project team identified some risks in a project. Team members became interested in predicting the outcomes of their potential choices following their probability of occurrence.Which technique should the risk manager use?

Political, economic, social, technological, legal, and environmental (PESTLE) analysis

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.What should the risk manager do?

Ask a subject matter expert (SME) to assess the residual risk and take action.

Update the risk register accordingly and review it in regular project meetings.

Accept the risk because residual risks are often low.

Ask a subject matter expert (SME) to assess the residual risk and take action.

Assign a risk owner and set it as high priority and high impact.

A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the client's vendor, which apparently has been causing all of the issues.What should the risk manager do first?

Review the contingency reserves.

During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.Which action should the risk manager take to address this risk?

Add the identified risk to the risk register for future probability and impact analysis.

Accept the identified risk because other stakeholders feel that there are higher priority risks to address.

Mitigate the identified risk in order to reduce the probability of impacting the stakeholder's team.

Escalate the identified risk to the project sponsor and allow them to determine the best course of action.

Add the identified risk to the risk register for future probability and impact analysis.

The project manager reviews project risks with the risk manager to update, monitor, and close risks in the risk register. The project manager determines one of the risks has a residual risk.How should the risk manager document the impact of the residual risk?

Review the impact of the residual risk against the budget reserves and document the update in the risk register.

Utilize change management tools to request a budget increase from the project sponsor and update the risk register.

Change the risk identification and description on the risk register to reflect the fact that the residual risk has materialized.

Close the risk's status on the risk register since the residual risk has now materialized.

Review the impact of the residual risk against the budget reserves and document the update in the risk register.

A project team in a multinational organization is working on a risk management plan for a multimillion-dollar project. This project involves three global regions with a wide range of critical stakeholders with varying degrees of risk appetite.What should the risk manager advise the project team to do?

Align the project risk thresholds with the organizational risk appetite.

Align the project risk thresholds with the risk appetite of a critical region.

Align the project risk thresholds with the organizational risk appetite.

Concentrate on the risk appetites of the influential stakeholders.

Concentrate on the risk appetites of the vulnerable stakeholders.

While performing risk identification exercises, the risk manager often encounters biases from the project team. How can the risk manager accurately identify what will trigger a risk?

Review published operational experience reports

Remind the project team to keep an open mind

Review the results with the project manager afterward

Review published operational experience reports

Use the mean answers provided by the project team

In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime. However, this action may lead to excessive additional cost.What should the risk manager do?

Manage the potential excessive additional cost as a new risk.

Document the concern over the potential excessive additional cost.

Manage the potential excessive additional cost as a new risk.

Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.

Prepare a detailed response plan for the residual risk with a clear owner and time line to ensure there are no impacts to the project.

A project team has just completed a project plan, which includes extra days for most of the critical activities to cover any possible issues. Stakeholders want to remove these additional days, because the end date is longer than expected.What should the risk manager do first?

Update the risk contingency plan.

Update the schedule constraints.

A project manager for a large product development project assigned a risk manager to perform the risk management. The project sponsor questions why this project requires a risk manager as it is similar to a previous project with a developed risk strategy.How should the risk manager explain the need for a risk strategy specific to this project?

A risk strategy aligns individual project risk thresholds with organizational risk appetite.

A risk strategy is a best practice and ensures quality in the project planning.

A project specific risk strategy includes enough information to respond to audits and compliance requirements.

A risk strategy ensures alignment of the organizational structure to the specific project.

A risk strategy aligns individual project risk thresholds with organizational risk appetite.

An organization is embarking on a multi-million-dollar project with numerous identified risks. What should the project risk team do to navigate the risks on this project?

Conduct risk identification to populate the risk register.

Go for a low-risk threshold of 5% around a cost objective.

Confirm stakeholders risk thresholds based on risk appetites.

Conduct risk identification to populate the risk register.

Go for a high-risk threshold of 10% around a cost objective.

A risk manager has a well-structured risk management process in place for a complex project with a tight schedule. Despite implementing preventive actions, one of the risks identified in the early stages of the project has still occurred and is now an issue.What should the risk manager do next?

Implement the risk response plan to remedy the problem as soon as possible.

Meet with the project team to brainstorm potential solutions to the problem.

Implement the risk response plan to remedy the problem as soon as possible.

Initiate discussions with the project manager to decide how to manage the problem.

Escalate the problem to the project sponsor to agree on the best course of action.

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options.What should the risk manager do?

Perform a qualitative risk analysis.

Perform a sensitivity analysis.

Perform a qualitative risk analysis.

A project team working on a large software deployment project for a few months has been able to prevent a technical risk from occurring. However, an incident took place and triggered the technical issue.What should the risk manager do?

Execute the risk response plan defined for the risk.

Postpone the software launch to sort out the technical issue.

Meet with the project manager to revisit the project schedule.

Assess the impacts and define the response actions with the subject matter experts (SMEs).

A risk manager wants to determine what risk has the biggest impact on project cost. The risk manager identified three risks, which could occur in different phases of the project.What should the risk manager do first to understand the impact on project cost?

Prioritize after quantitative analysis.

Prioritize the stakeholders affected.

Conduct a subject matter expert (SME) meeting.

During a project meeting, the project sponsor asks to close a project risk. The team does not recommend closing the risk because it is expected to be present in the next phase of the project work.How should the risk manager address this concern?

Compare the actual data with the risk baseline.

Compare the actual data with the subject matter expert (SME) criteria.

Compare the actual data with the historical data.

Compare the actual data with the risk baseline.

Compare the actual data with the project sponsor's expectation.

The risk manager loaded the risk register, built the risks into the simulation software, and ran the Monte Carlo analysis The P80 and P90 end dates are the same as the deterministic date.What should be the risk manager's next step?

Check the schedule for constraints

Decrease the number of iterations

Use the P90 date on the risk report

PMI PMI-RMP Practice Test 4 - Free Online Exam Prep & Questions

A project manager realizes the team undertaking the project work has fallen behind the planned schedule. The risk manager identifies a new risk resulting from this delay and will need to understand how this will affect the project deadline.

Which kind of numerical analysis should be performed to understand the worst-case scenarios?

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PMI PMI-RMP Practice Test 4

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