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 65 - PMI-RMP discussion

Report
Export

A project is evaluating a new software to streamline the current purchase order process. The current process is labor-intensive and involves printing, ink signatures, scanning, and emailing. Several team members gathered cycle time data to gauge the current process and evaluate the new process.

What should the risk manager do next with the data set?

A.

Perform a probability and impact assessment

Answers
A.

Perform a probability and impact assessment

B.

Perform Monte Carlo simulations

Answers
B.

Perform Monte Carlo simulations

C.

Perform a sensitivity analysis

Answers
C.

Perform a sensitivity analysis

D.

Perform a risk data quality assessment

Answers
D.

Perform a risk data quality assessment

Suggested answer: D

Explanation:

After gathering cycle time data, the risk manager should perform a risk data quality assessment to ensure the data is accurate, reliable, and relevant for evaluating the current process and the new software.

A risk data quality assessment is a technique to evaluate the degree to which the data about risks is useful and accurate for risk management. It involves examining the reliability, credibility, accuracy, and validity of the data collected. A risk data quality assessment can help the risk manager to determine the confidence level of the risk analysis and the quality of the risk responses.Performing a risk data quality assessment is the next logical step after gathering the cycle time data, as it will help to ensure that the data is suitable for further analysis and decision making.Reference: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 397.

Show Answer
asked 14/11/2024
Ronald de Groot
40 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