PMI PMI-RMP Practice Test - Questions Answers, Page 16
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A risk manager has identified multiple risks in an innovation project and needs to prioritize the use of resources to respond to the risks. Which analysis will help the risk manager in this situation?
Sensitivity analysis
Qualitative analysis
Statistical analysis
Impact analysis
During the risk management planning, key stakeholders recommend adding more factors other than probability and the impact to refine the score of prioritized threats in subsequent iterations of the qualitative risk analysis. The stakeholders ask the risk manager to prepare a list to discuss this further.
Which three valid factors should the risk manager prepare on the list for discussion? (Choose 3)
Compatibility
Urgency
Usability
Proximity
Detectability
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?
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?
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 sensitivity analysis.
Perform a qualitative risk analysis.
Perform a constraint analysis.
Perform a root-cause analysis.
The trigger for a highly categorized threat has occurred. The risk has a set response plan.
Who is responsible for developing responses to risk and monitoring the implementation status of the risk response?
Risk Action Owner
Risk Owner
Project Manager
Product Manager
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.
Perform qualitative 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 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 risk consequences
Decrease the number of iterations
Use the P90 date on the risk report
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