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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?
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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?
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The risk manager for an IT project developing a software application has a major stakeholder concerned that the project will not conclude within the available funding. The risk manager found delays in the iterations and increments in the project's budget, potentially increasing the duration by two weeks. What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?
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)

Question 90 - PMI-RMP discussion

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The project team has correctly identified, assessed, and planned responses for a project's risks. The risk manager is required to prepare a quarterly report on the performance of managing the risks.

What are two options the risk manager should consult for the analysis? (Choose two.)

A.

Proximity dales for open risks

Answers
A.

Proximity dales for open risks

B.

Backlog of change orders to be submitted to client

Answers
B.

Backlog of change orders to be submitted to client

C.

Risks that have materialized and the overall risk profile

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C.

Risks that have materialized and the overall risk profile

D.

Number of schedule baseline changes approved

Answers
D.

Number of schedule baseline changes approved

E.

Risks due to the number of claims submitted to the client

Answers
E.

Risks due to the number of claims submitted to the client

Suggested answer: A, C

Explanation:

The risk manager should consult the risks that have materialized and the overall risk profile to analyze the performance of managing the risks, as well as the risks due to the number of claims submitted to the client. These options provide insights into how well risks are being managed and the potential impact on the project.

The risk manager should consult the risks that have materialized and the overall risk profile, as these are indicators of how well the risk management process is working and how the project is affected by the risks. The risk manager should also consult the risks due to the number of claims submitted to the client, as these are potential sources of conflict, litigation, and reputation damage that may impact the project objectives and stakeholder satisfaction.Reference:The Standard for Risk Management in Portfolios, Programs, and Projects, page 83; PMBOK Guide, 6th edition, page 414.

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asked 14/11/2024
Karl Newick
31 questions
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