During a project progress meeting, a project team member is concerned that one of the risks has triggered several other low-level risks. These risks should be responded to quickly or there will be severe consequences for the project deliverables.What should the risk manager do?

Perform a risk urgency assessment.

Initiate a risk response when these risks occur.

Address only the high-priority risk.

Perform a risk urgency assessment.

A project manager of an IT company is assigned to a project whose schedule may be delayed due to a lack of resources to conclude the backlog activities. The project manager decides to hire additional developers to reduce the project's technical debt and meet the project deadline.What should the risk manager advise the project manager to do to address this situation?

Hire as soon as the project metrics trigger a risk response.

Immediately hire as soon as the project begins to fall behind schedule.

Hire as soon as the project metrics trigger a risk response.

Only hire when it is economically feasible to do so.

Only hire if risk response is escalated and approved by the stakeholders.

Stakeholder holiday schedules and availability of raw materials were two risks initially identified in a manufacturing project. The risk manager now notices that both risks are not quite as originally described and might require a plan change.What should the risk manager do next?

Revisit the project the assumptions and constraints to potentially update the risk impact and response.

Consult with the project manager to agree that these risks should be removed from the risk register

Keep the risks in the risk register and continue to follow up until the change actually takes place.

Identify workarounds that can be implemented whether or not the change takes place.

Revisit the project the assumptions and constraints to potentially update the risk impact and response.

The scope of a large mobile network deployment project includes equipment to be furnished by the customer. The risk manager is concerned that the equipment delivery might be delayed, causing additional delays in the project.What should the risk manager do?

Ensure the equipment constraint is well-documented and manage it as a high-impact project risk.

Follow up on the schedule and assess the best course of action if any delays are detected.

Ensure the equipment constraint is well-documented and manage it as a high-impact project risk.

Raise the issue with the project sponsor so it can be handled as a sales or contractual matter.

Obtain a signed commitment from the customer that equipment will be delivered on time.

A new company initiates a project to incorporate a cybersecurity team. Which three documents should the risk manager analyze first? (Choose 3)

IT infrastructure, networks, and data information

Government laws and regulations

Current request for proposal (RFP)

Company's historical financial reports

IT infrastructure, networks, and data information

Government laws and regulations

During the project's lifecycle, project risk managers must monitor any risks and address risk responses. What does this level of monitoring consist of?

Track identified risks and maintain the viability of response plans.

Carry out the agreed risk response action should the risk occur.

Provide a numerical estimate of the overall effect of risk on the objectives.

Track identified risks and maintain the viability of response plans.

Develop the overall risk management strategy for risk integration.

A project to deploy a new technology in field offices across the country has just been initiated. Some stakeholders are not supportive of this project because their teams will potentially be impacted by staff reductions once the technology is implemented.How should the risk manager address this concern?

Perform a stakeholder analysis to determine their interests and how they should be taken into account.

Invite these stakeholders to regular meetings to engage them in the definition of project assumptions.

Identify new stakeholders who might replace those involved thus far and are more closely aligned to the project goals.

Review the risk thresholds to potentially accommodate the concerns raised by these stakeholders.

Perform a stakeholder analysis to determine their interests and how they should be taken into account.

In a complex project, individual risks have been identified with the stakeholders. The project sponsor asks the risk manager about the likelihood of project success. Which risk analysis tool(s) should the risk manager use as a basis for their response?

Probabilistic and quantitative risk analyses to get the overall risk score

Quantitative risk analysis to get the overall risk score

Probabilistic risk analysis to get the overall risk score

Qualitative risk analysis to get the overall risk score

After the initial assessment of a new project, a project manager found that in order to complete the expected results, detailed and exhaustive planning will be required to ensure the product's characteristics and quality. What should the risk manager propose to the project manager what to do?

Use a predictive approach for the delivery.

Use a hybrid approach for the delivery.

Use an adaptive approach for the delivery.

Use an agile approach for the delivery.

A complex infrastructure construction project consisting of various stakeholders with diverse attitudes and opinions is in the execution phase. The project sponsor instructed the risk manager to evaluate the project environment and identify potential risks because many conflicts have arisen.What should the risk manager do first?

Perform an assumptions and constraints analysis.

Use the Wideband Delphi method.

Use the brainstorming technique.

Perform a strength, weaknesses, opportunities, and threats (SWOT) analysis.

A project team is presenting a delivery plan to a client. Some of the client's experts do not feel comfortable with some activities at a critical stage. The experts ask to change the plan and present a better alternative.What should the risk manager do first?

Conduct a risk assessment process for the critical stage.

Review and update the project quality management plan.

Conduct a risk assessment process for the critical stage.

Create a more detailed work breakdown structure (WBS).

Add additional time to the delivery plan to cover issues.

The stakeholders of a building construction project are not comfortable with the project manager's handling of the project as they believe there is a financial risk. The project manager asks the risk manager to assist in demonstrating to the stakeholders that the project risks are under a tolerable threshold.What should the risk manager do first to demonstrate this to the stakeholders?

Gather and reconcile project risk report data.

Gather other project risk historical information.

Gather and reconcile project risk report data.

Work with the sponsor to convince the risks are under control.

Work with the team to ensure the project is in good health.

An undocumented risk is realized during the rollout of a new product line important to the company. The product owner escalates this matter to the company president, who expects all risks to be documented in the project risk plan.How should the risk manager address this concern?

Risks are documented to the practicable extent possible.

Probability of the risk was very low. so the risk was not documented.

Impact of the risk was assessed to be insignificant, so the risk was not documented.

A similar risk never occurred in the past, so it was not considered.

There is confusion among risk action owners on a project about when and under which conditions they should initiate risk responses. Project team members often need to consult with the risk manager to get this conflict resolved.What should the risk manager do to resolve this recurring situation?

Revisit the risk thresholds and triggers.

Review the stakeholders' risk appetite.

Revisit the risk thresholds and triggers.

Update the risk response strategies.

Provide coaching to the risk action owners.

While developing a risk management plan for a complex program in a metricized environment, a program management team is itemizing a response plan for each identified risk that appears in the risk register. What should the risk manager do to effectively monitor the risks?

Encourage the program team to assume risk ownership prior to delegation.

Present the complicated nature of the program risk responses to the sponsor for proper advice.

Determine the workarounds for the program risks and allocate responsibilities to the team.

Allow the most experienced program manager to handle the most critical program risks.

Encourage the program team to assume risk ownership prior to delegation.

A project team has completed the risk response plan for a newly identified major project risk. Some team members argue the plan does not totally eliminate the risk, considering the effort required to implement it, and feel the planned response should be thrown out altogether.What should the risk manager do in this situation?

Accept the residual risk as it is compatible with the organization's risk appetite.

Accept the response because there are no secondary risks were identified.

The response plan should be discontinued and the risk should be accepted and dealt with if it occurs.

Accept the residual risk as it is compatible with the organization's risk appetite.

All identified risks must be addressed because they might significantly impact the project if they occur.

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?

Document the risk in the risk register for analysis.

Document the detailed risk consequences,

Immediately start the contracting process.

Proceed with the quantitative risk analysis.

A risk manager has been assigned to an upcoming project. A senior risk manager within the organization recently completed a similar project and has provided a lessons learned document to aid planning efforts for the upcoming project. Upon reviewing the document, the risk manager discovers that the completed project was delivered several months behind schedule and several thousands of dollars over budget. The root cause was determined to be an unforeseen risk trigger that caused several items to be reworked, creating cascading schedule delays and depleting management reserves.What should the risk manager do to mitigate the chance of the same issues reoccurring?

Document the known risk triggers as the identified cost and schedule risks in the risk register.

Ensure that all project stakeholders have a copy of and understand the project's risk management plan.

Increase the management reserves and inform stakeholders of what is available to cover any unexpected expenses

Distribute the lessons learned document to stakeholders knowing that the likelihood of reoccurrence is low.

Document the known risk triggers as the identified cost and schedule risks in the risk register.

In a highly dynamic project environment, the project manager is known to have project risks as a permanent agenda item in their periodic project progress meetings. How will this help improve the project's risk management activities? (Choose 3)

By helping to monitor variances and trends frequently throughout the project

By helping the lessons learned from previous risks to be efficiently utilized

By helping update the risk register and close out expired risks

By helping to monitor variances and trends frequently throughout the project

By helping to determine the overall project risks

By helping the lessons learned from previous risks to be efficiently utilized

By helping to update the project scope statement document

By helping update the risk register and close out expired risks

A project team has completed plan risk response activities and has identified three critical risk response plans to major risk events. The responses have been monitored and implemented, with one of the responses presenting the two secondary risks.What should the risk manager do next?

Assess the impact of residual and secondary risks on project objectives.

Assess the risk register to ensure the secondary risks are realistic.

Assess the impact of residual and secondary risks on project objectives.

Assess the change log to establish that changes were implemented.

Assess the stakeholder register to determine the impact of initial risks.

An organization with a portfolio of unique business functions kicks-off a performance improvement project across the entire organization. There are a large number of stakeholders the project team will need to consider during risk identification.What three actions should the risk manager ensure the project team performs during risk identification? (Choose 3)

Develop checklists based on historical information

Conduct interviews, meetings, and focus groups

Employ brainstorming to generate spontaneous ideas

Develop checklists based on historical information

Conduct interviews, meetings, and focus groups

Assign a different risk manager for each portfolio unit

Employ brainstorming to generate spontaneous ideas

Perform qualitative and quantitative risk analyses

A company has a project whose objective is to extract gold reserves from Field 1. However, another field closest to the company. Field 2, which has a higher probability of having twice as much gold reserves than Field 1. The risk manager requests the board of Directors to include Field 2 under the scope of the current project by management of change because the project's profitability will increase by 80%.What type of request is the risk manager describing?

A challenge to stakeholder thresholds

A request to increase project earnings

A request to increase project resources

A challenge to stakeholder thresholds

A challenge to the project investment

A risk manager has been assigned to a new project and learns that stakeholders and project team members are spread across multiple time zones. Furthermore, many project team members have not worked together in the past. These items are identified as potential risks and added to the risk register.How should the risk manager improve collaboration during risk planning?

Work with the project manager to develop a start-up workshop and colocate the team if permitted.

Gather risk information from all parties and compile all submissions into a strength, weaknesses, opportunities, and threats (SWOT) analysis template.

Create a repository for project documents and related artifacts that can be accessed by all parties.

Communicate program metrics to all parties and create a scorecard to measure the effectiveness.

Work with the project manager to develop a start-up workshop and colocate the team if permitted.

An experienced and the only developer on a software implementation project will be on leave for several weeks. The risk of this critical resource's availability was added to the risk register. Contingencies were made for a support developer to job shadow this resource, depending on how things go prior to their leave. The project team was pleased with the backup plan and the new resource was able to shadow for a few weeks.What should the risk manager do next?

Update, continuously monitor, and communicate the residual and secondary risks of the backup resource on the project.

Update the risk register to indicate the risk has occurred and close out the expired risk from the register.

Update, continuously monitor, and communicate the residual and secondary risks of the backup resource on the project.

Hire a permanent developer to support the project, and work with the backup resource to eliminate this risk.

Hire another developer to support the project, contingent on when the experienced developer returns.

A software development project team was preparing for a phased release when an unknown and unexpected risk occurred with potential for delaying one of the features for the planned release. The project team decided to go ahead with the release and address this missing feature at a later date. One of the end users learned about this and strongly opposed the planned release.What should the risk manager have done to prevent this situation?

Engaged the stakeholders more in risk management activities and decisions to get their buy-in and support.

Engaged the sponsor and informed them of the decision to remove the planned feature.

Engaged the stakeholders more in risk management activities and decisions to get their buy-in and support.

Performed proper risk identification at the project outset to ensure this risk was identified and mitigated.

Created a schedule buffer in the plan to deal with unknown risks if and when they occurred.

A key project is delayed and all contingency reserves have been used even though the project team has implemented all planned risk responses. What should the risk manager do next?

Escalate the project risks to upper management.

Create a new project plan including the new risks.

Review the effectiveness of the risk process.

Update the risk management plan.

Escalate the project risks to upper management.

A risk manager monitors risks on a medium-sized project by collecting inputs and data from individual project team members. What output is produced by the risk manager after analyzing the information they receive?

Updated probability and impact matrix

A risk manager has been assigned to replace a risk manager on sick leave. The new risk manager notices that the risk register is missing data that are key to the risk management process.Which data will the risk manager require first?

Project plan, risk priority, and tool availability

Risk description risk response, and quantitative data

Project plan, risk complexity, and secondary risk

Project plan, risk priority, and tool availability

Risk description, risk probability, and risk impact

During the construction of a housing development, a project team realizes they exceeded their materials budget during the first of three execution stages. The risk manager observed that the team did not notice that the cost of the materials increased due to continuous inflation in the steel market.What could have been done during project planning to avoid overspending?

Properly documented the triggers and actions for the risk

Met weekly with the finance team to monitor the cost

Communicated with the stakeholders that the project costs might increase

Properly documented the triggers and actions for the risk

Engaged with the sponsor to buy the steel in advance of the project

A risk manager for a hospital extension project is leading a project team in developing a risk management plan. One team member is responsible for conducting risk identification. The team member just joined the team and is struggling to ensure the coverage of all risks that might arise in this complex project.How should the risk manager address this concern?

Develop a risk breakdown structure {RBS) to identify possible risks.

Develop a risk impact analysis to assess the consequences of possible risks

Develop a probability and impact matrix to analyze possible risks.

Create a risk register to capture and track possible risks.

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.

The risk manager for an IT project developing a software application has a major stakeholder concerned that the project will not conclude within the available funding. The risk manager found delays in the iterations and increments in the project's budget, potentially increasing the duration by two weeks.What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?

Estimation and probability analysis tools (i.e. Monte Carlo simulations)

Stakeholder management and communication tools

Team performance reports and analysis tools

Schedule management tools (i.e., Gantt Charts)

Estimation and probability analysis tools (i.e. Monte Carlo simulations)

A risk manager recently had to take an unexpected leave of absence. An interim risk manager has been tasked with completing risk planning for a new project. The interim risk manager has been provided with a strength, weaknesses, opportunities, and threats (SWOT) analysis that was completed during a project kickoff meeting several weeks ago.What should the interim risk manager do to derive actionable risk responses from the SWOT analysis?

Determine risks from the SWOT analysis and break them down into threats and opportunities.

Work with the project sponsor to understand which items they would prioritize from the SWOT analysis.

Conduct an extensive review with the project team to ensure all SWOT items can be mitigated or eliminated.

Input the items identified on the SWOT analysis into the project's risk register for consideration as-is.

A risk manager is preparing risk reports to be included in the monthly status report for project executives. How should the risk manager present the information?

An itemized list of remaining risks and their scores

Earned value management (EVM) variance metrics

A risk burndown chart showing remaining risks

The format established in the risk management plan

An itemized list of remaining risks and their scores

PMI PMI-RMP Practice Test 5 - Free Online Exam Prep & Questions

Product testing can be done in multiple ways. A few project team members suggest testing be done in a laboratory environment, whereas others recommend completing the analysis via simulation methods. The testing manager has consulted with a peer, who recommends undertaking testing using field trials. The testing manager consults with the risk manager to assess the risk involved in the testing.

Which tool should the risk manager consider for assessing the test risk?

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PMI PMI-RMP Practice Test 5

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