PMI-RMP RELIABLE TEST QUESTION PASS CERTIFY| RELIABLE PMI-RMP VALID EXAM NOTES: PMI RISK MANAGEMENT PROFESSIONAL

PMI-RMP Reliable Test Question Pass Certify| Reliable PMI-RMP Valid Exam Notes: PMI Risk Management Professional

PMI-RMP Reliable Test Question Pass Certify| Reliable PMI-RMP Valid Exam Notes: PMI Risk Management Professional

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PMI Risk Management Professional Sample Questions (Q86-Q91):

NEW QUESTION # 86
Some project risks are applicable for the project's lifecycle while others risks are only applicable to specific project activities. When should project risks be closed?

  • A. When iterative data analysis determines the risk is not applicable
  • B. When the forecast activity date has been met or exceeded
  • C. When the stakeholders agree a risk is no longer applicable
  • D. When the risk has been realized and can no longer happen again

Answer: C

Explanation:
Project risks should be closed when the stakeholders agree a risk is no longer applicable. This ensures that risks are actively managed and only relevant risks are considered throughout the project lifecycle.
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, project risks are uncertain events or conditions that may have a positive or negative effect on one or more project objectives1.
Project risks can be closed when they are no longer applicable to the project or its activities. The process of closing project risks involves verifying that the risk responses have been completed, documenting the outcomes, and evaluating the effectiveness of the risk management process2. The decision to close a project risk should be made by the stakeholders who are responsible for or affected by the risk, as they are the ones who can determine whether the risk is still relevant or not. Therefore, the correct answer is B. When the stakeholders agree a risk is no longer applicable.
References: 1: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 397 2: PMI, Practice Standard for Project Risk Management, 2009, p. 111


NEW QUESTION # 87
The project manager wants risk metrics established for the new project. Which of the following metrics listed is best suited for this purpose?

  • A. Effectiveness of the work breakdown structure
  • B. Number of detects identified
  • C. Effectiveness of response plans
  • D. Number of approved project change requests

Answer: C

Explanation:
Explanation


NEW QUESTION # 88
Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

  • A. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives.
  • B. It determines which risk events have the most potential impact on the project.
  • C. It uses round of anonymous surveys to predict which events are most likely to happen.
  • D. It uses rounds of anonymous surveys to predict probability and impact.

Answer: B


NEW QUESTION # 89
In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime.
However, this action may lead to excessive additional cost.
What should the risk manager do?

  • A. Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.
  • B. Manage the potential excessive additional cost as a new risk.
  • C. Document the concern over the potential excessive additional cost.
  • D. Prepare a detailed response plan for the residual risk with a clear owner and time line to ensure there are no impacts to the project.

Answer: A

Explanation:
In this scenario, the risk manager is considering a response that could lead to a significant residual risk- excessive additional costs due to overtime. Before proceeding, it is crucial to confirm that the project sponsor is comfortable with the risk appetite for this potential outcome. This step is essential to ensure that the decision to allow overtime aligns with the sponsor's tolerance for additional costs and the overall project risk management strategy. According to the Risk Management Procedure, understanding and aligning with the sponsor's risk appetite is a critical step before implementing risk responses that could impact the project's financials. This approach ensures that all stakeholders are aware of and agree to the potential consequences of the chosen risk response strategy.


NEW QUESTION # 90
Consider the risk probability-impact matrix in the figure given below:

If Risk B happens in this project, how much will be left in the contingency reserve?

  • A. $193,500
  • B. -$334,500
  • C. $148,300
  • D. It depends on the total budget of the project.

Answer: A


NEW QUESTION # 91
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