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Question 1

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A project manager wants to work on understanding the project risks. The project manager works with the integrated project team to develop the risk handling strategies for the identified risks. How

Question 2

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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 situat

Question 3

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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 expo

Question 4

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A risk manager has been assigned to a project constructing a chemical laboratory. Unfamiliar with chemical laboratories, the risk manager is unsure of where to start objectively identifying risks.

Question 5

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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 re

Question 6

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A subcontractor working on a project may cause delays in the construction schedule. The project manager records this risk in the risk register and issues a change request sponsor rejects the change

Question 7

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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

Question 8

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During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the ris

Question 9

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A risk manager reviews a Monte Carlo schedule risk analysis model before sharing the results with the project manager. The risk manager notices that activity correlations were not included in the mo

Question 10

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The project manager for project X was expecting the mobilization of critical equipment from another project, project Y. However, a day before the mobilization was scheduled, another project manager

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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?

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?

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 112 - PMI-RMP discussion

Report

When selecting strategies as an activity of Plan Risk Response, what is the overall goal?

A.

Select the strategies with the least overall impact to resources.

B.

Select the strategies with the least financial impact.

C.

Select the strategies with the greatest overall positive influence.

D.

Select the strategies with the greatest benefit to stakeholders.

Suggested answer: C

Explanation:

The overall goal of selecting strategies during the Plan Risk Response activity is to choose those strategies that have the greatest overall positive influence on the project, considering factors such as cost, schedule, and resources.

According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain ofRisk Responseis to select risk response strategies based on the risk appetite and tolerance of the organization and stakeholders1. The overall goal of selecting risk response strategies is to select the strategies with the greatest overall positive influence on the project objectives, such as scope, schedule, cost, quality, etc.The risk response strategies should aim to enhance the opportunities and reduce the threats to the project, while considering the cost-benefit analysis, the feasibility, and the alignment with the project goals and stakeholder expectations2.The risk response strategies should not be selected based on the least overall impact to resources, because that may not be the most effective or efficient way to address the risks, and it may ignore the potential benefits of some strategies that may require more resources but also deliver more value3. The risk response strategies should not be selected based on the least financial impact, because that may not be the most relevant or comprehensive criterion to evaluate the risks, and it may overlook other aspects of the project, such as quality, customer satisfaction, reputation, etc.that may also be affected by the risks4.The risk response strategies should not be selected based on the greatest benefit to stakeholders, because that may not be the most realistic or achievable goal, and it may create conflicts or trade-offs among different stakeholder groups that may have different or competing interests, needs, and expectations5.Reference:1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4403: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4414: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 4425: A Guide to the Project Management Body of Knowledge (PMBOK Guide) -- Sixth Edition, page 518.

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asked 14/11/2024

Andrej MiÅ¡ura

31 questions

User

Your answer: A B C D

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