PMI PMI-RMP Practice Test - Questions Answers, Page 17
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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?
Scenario analysis
Sensitivity analysis
Probability and impact matrix
Monte Carlo simulation
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?
Update the watchlist.
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?
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?
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.
One project in a program needs to be completed in 6 months because there is a large bonus for early completion. Consequently, the program manager transfers all resources to this project and arranges for employees to receive overtime pay.
Which risk response strategy is the program manager using in this scenario?
Escalate
Transfer
Enhance
Exploit
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?
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)
Industry's standard procedures
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?
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?
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
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