ExamGecko
Search Search Login
Home Home / PMI / PMI-RMP
Question list
Search
Search

List of questions

Search
Open VPLUS File
Convert VPLUS to PDF

Related questions

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?
The project team is updating the risk register with the minimum acceptable level of exposure and impact for each risk. The team also wants to determine if they have reached the maximum level of exposure before they escalate the risk. What should the team perform in this scenario?
A project manager has determined that an activity is too complex to complete internally so they hire a licensed contractor to complete the work. What is the project manager performing in this situation?
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?
A project manager wants to introduce a new technology to improve a project's performance. However, there are some costs associated that are beyond the current budget, and the proposed technology has not been applied to any previous company projects. What should the project manager do in this situation?
During project execution, a project manager invites the stakeholders to a risk review meeting. During this meeting, a vendor highlights that the mitigation plan for a schedule risk has generated an additional risk. What should the risk manager do first?
Stakeholder deliverable reviews will start soon and additional work is expected to resolve any issues or required adjustments. Budget overruns during execution have put serious constraints on the remainder of the project's budget. What should the project manager do next?
A project is in the execution phase and involves large volumes of supplies. The project is the last phase of a 10-year initiative. The project sponsor asks the project manager to provide the performance report for the whole initiative. Which analysis should the risk manager do to provide the project manager with the performance report?
A risk manager for a large project has completed documenting the risk management plan. The project is moving from planning to execution. Which three actions should the risk manager take to ensure the risk management plan remains effective during the project timeframe? (Choose 3)
Which statement describes the risk portrayed on the risk matrix heat map below?

Question 52 - PMI-RMP discussion

Report
Export

A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.

What should the risk manager of the related project have done to prevent this situation from happening?

A.

Reformed the risk monitoring and closing process properly.

Answers
A.

Reformed the risk monitoring and closing process properly.

B.

Created the project work plan and budget more accurately.

Answers
B.

Created the project work plan and budget more accurately.

C.

Educated the project team on budget change requests.

Answers
C.

Educated the project team on budget change requests.

D.

Communicated better with the organization's CEO.

Answers
D.

Communicated better with the organization's CEO.

Suggested answer: A

Explanation:

According to the PMI Risk Management Professional (PMI-RMP) Handbook1, one of the domains of the PMI-RMP exam isRisk Monitoring and Reporting, which involves tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating risk process effectiveness throughout the project1. The risk manager of the related project should have reformed the risk monitoring and closing process properly to ensure that the contingency budget is only used for the intended risks and not for other purposes.The risk manager should have also communicated the status and outcomes of the risk activities to the relevant stakeholders, such as the functional manager and the CEO, to avoid any confusion or conflict over the budget allocation1.Reference:1: PMI Risk Management Professional (PMI-RMP) Handbook, page 6.

The risk manager should have ensured a more accurate project work plan and budget to prevent the functional manager from requesting to use the project's contingency budget. A well-planned budget would have avoided the shortage in the functional manager's department budget.

Show Answer
asked 14/11/2024
Yan Wei
35 questions
PreviousPreviousNextNext
User
Your answer:
0 comments
Sorted by

Leave a comment first

ExamGecko

Copyright @2023 ExamGecko | All right reserved

Mail us: [email protected]
About us
Contact us
Twitter X
Facebook
Medium
Convert VPLUS to PDF
Open VPLUS files Easily and Quickly
Privacy Policy
Disclaimer
Terms