A project with impending risks has 12 deliverables as subprojects which will be executed in three different locations involving multiple stakeholders. What should the risk manager do to organize the prevailing risks?

Combine individual and focus groups to identify risks and create the overall risk register.

Use the external risk assessment of the project and its deliverables to identify risks.

Use focus groups to conduct group risk assessments of the project to identify risks.

Combine individual and focus groups to identify risks and create the overall risk register.

Request individual assessments of the project and its deliverables to identify risks.

In the early stages of a manufacturing project a risk manager has identified a risk with a component provided by an external supplier that might be delayed. The delay may or may not be significant to the project.What should the risk manager do?

Register the risk with a medium impact

Agree with the external supplier on the time line

Register the risk with a medium impact

Align with stakeholders on the risk threshold

Engage another supplier with shorter delivery times

A risk manager has been assigned to a long and complex project that is strategic to their organization. What should the risk manager do to have a proactive attitude toward risk management in this scenario?

Monitor variances and trends frequently throughout the project and take actions accordingly.

Take ownership of the risk management process and minimize any engagements with resistant stakeholders.

Escalate risk-related topics to the project manager and sponsor to ensure they are fully aware of potential impacts.

Limit communications to small groups and only when key risk decisions have to be made.

After completing the sprint on an agile project a team updates the risk burndown chart and notices that risk exposure has increased to levels that could negatively affect project completion. What should the risk manager do to return the project's risk exposure to an acceptable level?

Prioritize risk mitigation stories for the next sprint.

Review the acceptance criteria for upcoming stores.

Prioritize risk mitigation stories for the next sprint.

Update the definition of done (DoD) to improve risk management.

Check stories in the product backlog to identify risks.

While reviewing the developed risk response plan, a team identified a residual risk incompatible with the organization's risk appetite. Which action is required next to handle the residual risk?

Determine if the risk response is cost-effective enough to accept the risk.

Repeat the response planning until the risk is compatible with the nsk appetite.

Only secondary risks are identified during response planning, so no action is necessary.

Determine if the risk response is cost-effective enough to accept the risk.

Split the risk until each split risk is compatible with the risk appetite.

A project baseline included a budget of USS900 million and a 12-month schedule. Three months into the project a risk manager collected performance data on the project expenditure showing an actual cumulative lost.What should the risk manager use to ascertain the cost performance risk?

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

During a software project planning meeting, a project team stated they had discovered a new way of developing a feature. The team is not sure if this new development represents a threat or an opportunity for the project.Which tool should the risk manager use to better determine the category of this discovery?

Return on investment (ROI) value analysis.

Strengths weaknesses opportunities, and threats (SWOT) analysis.

The major investor in a road construction project is constantly asking project team members for information about the project's execution. This has resulted in the project team working 20% of their day preparing project reports for the stakeholders.What should the risk manager do to enhance the project team's approach to risk reports?

Engage with the team to enhance the project risk reports sent to the stakeholders.

Highlight to the stakeholders the agreed predetermined frequency of risk reports.

Engage with the team to enhance the project risk reports sent to the stakeholders.

Talk to the project team and ensure they avoid direct communication with this stakeholder.

Work with the project sponsor to ensure stakeholders avoid directly influencing the project team.

A new vice president in one of its divisions observed that the portfolio of projects within their division experienced significant variations beyond the 10% established threshold with the potential of not achieving its overall business goals. Hence, they directed all project leaders and sponsors to ensure that they set and work toward more stringent thresholds of 5% and reports on the basis of any variance outside that range.How should the risk manager respond?

Assess and modify the project risk management plan in response to the new directive.

Assess the impacts of this change but do nothing as the project is still within the enterprise-wide threshold.

Assess and modify the project risk management plan in response to the new directive.

Accept project risks since it is already within the enterprise-wide threshold.

Advise that the decision could increase the risk of their portfolio exponentially.

A project team is performing the last status meeting session of a projects iteration. What should the risk manager do before starting the next iteration?

Reassess and summarize risk data and update the project documents.

Engage with the project sponsor to get feedback and approval.

Reassess and summarize risk data and update the project documents.

Close out all remaining risks and release the contingency funds.

Close out remaining risks and create a risk lessons learned document.

At the beginning of a small project the risk manager facilitates workshops to identify and analyze risks. At the end of the sessions a stakeholder says that there should be no need to meet again about the risk register now that it's complete since it is such a short and simple project.How should the risk manager respond to this comment?

Agree on the condition that the risk register be updated if the project environment changes.

Compromise by updating the risk register at the end of each phase only.

The risk register must only be updated if a change is approved during the project.

Insist on continuous review and updating of the risk register during the project.

Agree on the condition that the risk register be updated if the project environment changes.

A risk manager is working on the risk management plan for a new digital platform and realizes the project sponsor who is the IT manager has not been invited to the project team meetings. The IT manager is concerned that the IT infrastructure is unable to host the new platform the team is creating. The risk manager asks the IT manager to be included in the meetingsWhat should the IT manager's role be in the project team meetings'?

The IT manager should lead the infrastructure execution

The IT manager should be added as a project sponsor.

The IT manager should refine the project baseline plans

The IT manager should be included as a risk owner

The IT manager should lead the infrastructure execution

While establishing the risk management strategy for a complex project, a project manager reminded the team about the need to identify risk categories. Which technique should the risk manager use to identify risk categories?

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

A newly appointed risk manager for a critical project is working with a project team to develop a risk management strategy. One team member suggested creating an influence diagram to help analyze the options risks outcomes and their relationships. Another team member feels the Influence diagram is not enough because this project is important and complex.Which approach should the risk manager take to improve the quality of the project risk analysis'?

Use a qualitative or quantitative analysis to analyze identified risks.

Use a Monte Carlo simulation to identify risks.

Use a work breakdown structure (WBS) to help analyze risks.

Use brainstorming to identify more possible risks.

Use a qualitative or quantitative analysis to analyze identified risks.

A risk manager celebrates with team members after successfully resolving a major threat to the project schedule. However, the project sponsor was upset that the risk manager celebrated the risk response.What should the risk manager have done before considering the risk response a success?

Requested format feedback from the stakeholders regarding the risk response strategy.

Invited the stakeholders to join the celebration of a successful risk response strategy.

Requested format feedback from the stakeholders regarding the risk response strategy.

Worked closely with the project sponsor to organize a combined recognition of the risk response strategy.

Ensured the risk would not reoccur during the project life cycle because there would have been no need for a risk response strategy.

An organization is executing two projects---Project A and Project B---simultaneously A previously identified risk will impact the schedule for Project

Continue executing the planned risk mitigation to avoid any additional schedule impact to Project A.

While executing the mitigation plan a number of residual risks are identified that could provide cost savings for Project B. Which action should the risk manager for Project A take?

Continue executing the planned risk mitigation to avoid any additional schedule impact to Project A.

Consult with Project B's risk manager and determine where synergies might exist between the risk management plans for both projects.

Review the findings in Project A's closure documents and propose a new organizational process for portfolio risk management.

Combine the risk registers for Project A and Project B and determine if there are any additional cross-project opportunities to exploit.

A risk manager has been assigned to prepare a risk management plan for a new project. Which factor should the risk manager prioritize when tailoring the risk management processes for the new project?

Size and duration of the project

Available funds for risk management activities

Maturity of the organization's risk management processes

Number of stakeholders associated with the project

Size and duration of the project

A risk manager is collaborating with project stakeholders and the project team to identify risks in a construction project. The risk manager intends to use an approach that engages stakeholders based on information such as scope baseline and project estimates while also determining risk impacts based on this approach.Which risk identification approach should the risk manager use to achieve this goal?

Assumptions and constraints analysis

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

Assumptions and constraints analysis

An external vendor is assigned a project task in response to a capacity and expertise risk. The project team is concerned about the vendor's engineers' ability to communicate properly in the local languageWhat should the risk manager do in this case?

Document and assess the secondary risk.

Document and assess the residual risk.

Document and assess the secondary risk.

Conduct a risk and response reassessment.

Conduct a risk and response recategorization.

A risk manager had to mitigate delay risks in the delivery of a component in a manufacturing project by procuring from an alternate vendor with shorter lead times. This has led to another risk because the project team may need additional training on how to install this specific component.What should the risk manager do?

Define and monitor response measures for this secondary risk.

Align with procurement on how to penalize the vendor for the delay

Accept this risk and continue monitoring for additional impacts.

Review an alternate solution with subject matter experts (SMEs). O

Define and monitor response measures for this secondary risk.

A risk manager has recommended an increase of 7% to the risk threshold to avoid failure of a challenging new initiative. What should the risk manager do next?

Reduce the initiative scope so the uncertainty fits the current risk appetite.

Avoid making multiple changes to the organization's risk threshold.

Reduce the initiative scope so the uncertainty fits the current risk appetite.

Avoid pursuing initiatives that exceed the established risk threshold limits.

Identify the key stakeholders resistant to change.

When performing a risk analysis, a risk manager identifies not only negative risks but also positive risks, which might bring added value to the project. What should the risk manager do next?

Analyze the risks and add them to the risk register to continue the process.

Assign separate stakeholder groups for positive risks and negative risks.

Analyze the risks and add them to the risk register to continue the process.

Create a separate project to exclusively manage positive risks and threats.

Prioritize opportunities as they are likely to bring benefits to the project.

The sponsor of a construction project is upset about the results of the risk management team. The sponsor believes the team did not properly identity the risks that could affect the project. The team did manage the risks however, some of the risk response strategies created secondary risks.What should the risk management team have done to manage this situation?

Enhanced communication with the sponsor regarding secondary risk impact.

Ensured the sponsor got more involved with the project risk planning.

Encouraged involvement of the project team during the review meetings.

Enhanced communication with the sponsor regarding secondary risk impact.

Ensured to include the stakeholders in the team discussions.

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.

A risk manager schedules workshops for identifying risks about an initiative involving multiple business units, recruitments for different roles, procurements, technological uplift training, and changes in the ways of working Who should participate in the risk management activity?

Internal and external stakeholders

A project has suffered a big schedule delay and there are still some risks that are close to materializing. The project manager is concerned about communicating this risk level because the stakeholders might suspend project funding and cancel the project.How should the risk manager manage the risk level?

Collaborate with the project manager to communicate risk levels to stakeholders.

Coach the project manager on communicating risk levels to stakeholders.

Collaborate with the project manager to communicate risk levels to stakeholders.

Communicate risk levels only to the supportive stakeholders.

Advise the sponsor to meet with the stakeholders to discuss the risk levels.

A project has consistently been lagging in cost performance index (CPI) and schedule performance index (SPI) over the past few months. The risk manager realizes that some activities are taking longer than expected and more resources are neededWhich project artifact should the risk manager analyze to mitigate the risk of further project overrun?

Schedule and resource assumptions

A project manager managing a high-risk rating project was just informed that one of the key project resources has decided to leave the organization. The project manager asks the risk manager for their recommendations. The risk manager previously identified this as a risk and had created a transition plan to enable another resource to carry out the same duties The risk manager was informed that by transitioning the responsibilities to the new resource, new risks to the completion dates of other project-related tasks appear.What should the risk manager advise the project manager?

Address these secondary risks as per the risk management plan

Apply a risk acceptance strategy to the new risks as there is no risk response plan.

Address these secondary risks as per the risk management plan

Update the risk management plan with the new probabily/impact and change the response.

Escalate the new risks immediately to the project stakeholders to ensure proper risk communication is in place.

A project manager identified a risk of communication issues with the client which may impact the project schedule. A member of the sales team advises that this client prefers face-to-face conversations.What should the project manager do to avoid this risk?

Record this risk and the client's preference in the risk register.

Ask the sales person to lead the communication with the client.

Meet the client and plan for critical milestone meetings.

Record this risk and the client's preference in the risk register.

Call the client and advise that online communication is easier and faster.

A project has five critical stakeholders. A few months into the project, a negative risk event on the project occurred necessitating the need to inform the critical stakeholders. What should the risk manager do next?

Follow the planned guidelines and rules for communicating risk events to stakeholders.

Call a management meeting to explain the details of the risk event and its effect on stakeholders.

Develop mitigation actions to decrease negative risk effect.

Call a joint meeting with the stakeholders to request guidance.

Follow the planned guidelines and rules for communicating risk events to stakeholders.

PMI PMI-RMP Practice Test 7 - Free Online Exam Prep & Questions

A new project is about to start and the risk manager wants to review some documents that could be relevant for risk identification. Which document will help the risk manager in this process?

Become a Premium Member for full access

Unlock Premium Member

PMI PMI-RMP Practice Test 7

Question

PMI PMI-RMP Practice Tests

Practice Tests