Special Summer Sale - Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: mxmas70

Home > PMI > PMI Certification > PMI-RMP

PMI-RMP PMI Risk Management Professional (PMI-RMP) Exam Question and Answers

Question # 4

The project manager and the risk manager of a new project to develop an application to support autonomous driving are meeting with the sponsor and key stakeholders to discuss the project. During the meeting, it is identified that the transport authority is discussing new traffic regulations for the industry that could be in place before the project ends.

How should the project manager and the risk manager handle this situation?

A.

Ensure the project complies with the current traffic regulations and laws.

B.

Send a letter to the traffic authority with the general project information.

C.

Perform inquiries on the website of the traffic authority weekly.

D.

Meet with the traffic authority staff in charge of the new regulation.

Full Access
Question # 5

Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted.

What will help calculate the impact?

A.

Risk analysis

B.

Risk identification

C.

Risk treatment

D.

Risk evaluation

Full Access
Question # 6

A project team identifies that there is a probability of missing a key milestone in a project. The team wants to move forward with the risk response planning.

What should the risk manager complete first?

A.

The risk categorization

B.

The risk simulation

C.

The full risk description

D.

The risk response plan

Full Access
Question # 7

Multiple new risks have come up on a project that were not included on the risk register. The project manager met with the team to explain that risk management is critical for the success of the project, and risk identification is key.

What should the project manager do next?

A.

Review assumptions and constraints around risks.

B.

Develop the risk response plans for identified risks.

C.

Determine the likelihood and impact of the risks.

D.

Apply an iterative approach to risk identification.

Full Access
Question # 8

During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.

Which tool should the project team use to determine this?

A.

Sensitivity analysis

B.

Threshold analysis

C.

Reserve analysis

D.

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

 

Full Access
Question # 9

A risk manager was recently hired to assist with a mid-sized infrastructure project. The risk manager becomes aware that they have an inexperienced project team.

What two items should the risk manager have their team review in order to prepare for an upcoming risk identification workshop? (Choose two.)

A.

Scope of work and requirements

B.

Monte Carlo analysis from a similar project

C.

List of pre-approved contractors

D.

Organization chart for city permit department

E.

Risk management plan

Full Access
Question # 10

The risk manager is facilitating risk planning activities with the team. The team is documenting all the check points along the way that might indicate delays on critical deliverables.

What is this an example of?

A.

Risk responses

B.

Risk triggers

C.

Risk registers

D.

Risk categories

Full Access
Question # 11

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

B.

Backlog of change orders to be submitted to client

C.

Risks that have materialized and the overall risk profile

D.

Number of schedule baseline changes approved

E.

Risks due to the number of claims submitted to the client

Full Access
Question # 12

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.

Quantitative risk analysis

B.

Risk response planning

C.

Monitor and control risks

D.

Risk urgency assessment

Full Access
Question # 13

The project manager is reviewing the lessons learned from a previous similar project. The previous project was delayed due to the delay in delivery of a gas turbine generator (GTG). Construction of the previous project had to be shut down unexpectedly to wait for the late delivery of the GTG.

What should the project manager do first?

A.

Include the risk in the register and communicate with the stakeholders.

B.

Communicate with the client to provide the previous shutdown plan.

C.

Review and update the project schedule.

D.

Interview the other project manager to learn more details.

Full Access
Question # 14

A highly complex project is about to start Considering that many changes and new information will arise as the work moves forward, key stakeholders are anxious about not addressing risks on time

What should the risk manager do in this situation?

A.

Establish a formal and upfront risk identification process.

B.

Use a detailed and quantitative risk assessment process.

C.

Create an effective and clear risk communication process.

D.

Adopt a dynamic and frequent risk management process.

Full Access
Question # 15

A stakeholder is asking a project team to hire an external vendor with more expertise and capacity to accelerate a delivery plan. The team has some concerns about this request. What should the risk manager do first?

A.

Conduct a strengths weakness, opportunities, and threats (SWOT) analysis.

B.

Create a contingency plan

C.

Start a vendor assessment

D.

Submit a change request

Full Access
Question # 16

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.

What should the risk manager do?

A.

Import a risk register from other industry chemical laboratories.

B.

Define chemical laboratory safety risk thresholds.

C.

Review published operational experience reports.

D.

Draft threat and opportunity risks that come to mind.

Full Access
Question # 17

A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.

What will be the main output of this meeting?

A.

Evaluating the project's probability of success

B.

Identifying threats and opportunities

C.

Evaluating the project's impact

D.

Performing a qualitative analysis

Full Access
Question # 18

 

During the risk management planning, key stakeholders recommend adding more factors other than probability and the impact to refine the score of prioritized threats in subsequent iterations of the qualitative risk analysis. The stakeholders ask the risk manager to prepare a list to discuss this further.

Which three valid factors should the risk manager prepare on the list for discussion? (Choose 3)

A.

Compatibility

B.

Urgency

C.

Usability

D.

Proximity

E.

Detectability

 

Full Access
Question # 19

During a project progress meeting, a project team member is concerned that one of the risks has triggered several other low-level risks. These risks should be responded to quickly or therewill be severe consequences for the project deliverables.

What should the risk manager do?

A.

Update the watchlist.

B.

Initiate a risk response when these risks occur.

C.

Address only the high-priority risk.

D.

Perform a risk urgency assessment.

 

Full Access
Question # 20

An organization with a portfolio of unique business functions kicks-off a performance improvement project across the entire organization. There are a large number of stakeholders the project team will need to consider during risk identification.

What three actions should the risk manager ensure the project team performs during risk identification? (Choose 3)

A.

Develop checklists based on historical information

B.

Conduct interviews, meetings, and focus groups

C.

Assign a different risk manager for each portfolio unit

D.

Employ brainstorming to generate spontaneous ideas

E.

Perform qualitative and quantitative risk analyses

 

Full Access
Question # 21

Product testing can be done in multiple ways. A few project team members suggest testing be done in a laboratory environment, whereas others recommend completing the analysis via simulation methods. The testing manager has consulted with a peer, who recommends undertaking testing using field trials. The testing manager consults with the risk manager to assess the risk involved in the testing.

Which tool should the risk manager consider for assessing the test risk?

Full Access
Question # 22

A project manager is educating the project team on risk management regarding the role of threats and opportunities. The team decides to log the opportunities in the current project's risk register to try to maximize their chances of occurrence.

What should the project team do next?

A.

Conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.

B.

Log the threats in the risk register to try to minimize the probability of occurrence.

C.

Log the threats in the risk register to try to maximize the probability of occurrence.

D.

Update the project management plan to ensure the results of the opportunities are captured.

Full Access
Question # 23

During the monthly executive review meeting, the project sponsor would like to understand how the project team has planned to manage risks that were identified in the last meeting. What should the project manager do?

A.

Utilize a Monte Carlo assessment to provide risk related impacts.

B.

React to the secondary and residual risks only if they occur.

C.

Include secondary and residual risks as part of the response.

D.

Transfer secondary and residual risks to the project sponsor.

Full Access
Question # 24

In the middle of a construction project, the primary construction materials provider canceled the contract and moved to a competitor offering a higher price. The risk manager considers

this a low-impact issue because many construction materials providers can fulfill the project demands. However, after informing the stakeholders of this issue, the major investor is about

to drop their intention to continue executing the project. The risk manager does not understand their decision.

What should the risk manager do next to understand the major stakeholder's decision regarding the project?

A.

Perform a risk impact analysis.

B.

Perform a risk reserve analysis.

C.

Perform a procurement analysis.

D.

Perform a stakeholder impact and influence analysis.

Full Access
Question # 25

The scope of a large mobile network deployment project includes equipment to be furnished by the customer. The risk manager is concerned that the equipment delivery might be delayed, causing additional delays in the project.

What should the risk manager do?

A.

Follow up on the schedule and assess the best course of action if any delays are detected.

B.

Ensure the equipment constraint is well-documented and manage it as a high-impact project risk.

C.

Raise the issue with the project sponsor so it can be handled as a sales or contractual matter.

D.

Obtain a signed commitment from the customer that equipment will be delivered on time.

 

Full Access
Question # 26

A risk manager has identified multiple risks in an innovation project and needs to prioritize the use of resources to respond to the risks. Which analysis will help the risk manager in this situation?

A.

Sensitivity analysis

B.

Qualitative analysis

C.

Statistical analysis

D.

Impact analysis

 

Full Access
Question # 27

An agriculture government agency faces different challenges with farmers and landlords In implementing its ambitious growth strategy. The agency decided to establish an enterprise risk management unit to identify risks, analyze risks, and provide a handbook showing how to handle the surrounding uncertainty.

What should the risk management expert recommend the agency do first to identify risks and develop the handbook?

A.

Follow standard risk Identification tools dedicated for agriculture and tailor them to the environment.

B.

Hire an agriculture expert who can develop the required handbook and discuss it with the agriculture minister.

C.

Prepare a list of the key resources that will be used to compile a risk management plan.

D.

Conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks.

Full Access
Question # 28

A project's design has been completed and approved on time. The construction subcontractor should be mobilizing to start construction but does not have the necessary materials in place, causing a delaying in the project. The risk register only contains risks for the design phase of the project.

What should the project manager have done differently?

A.

Executed the Monte Carlo sensitivity analysis prior to mobilization

B.

Added generic construction risks to the risk register before construction began

C.

Reviewed the assumptions/exclusions register in the project charter

D.

Performed risk identification exercises for the full lifecycle of the project

Full Access
Question # 29

A risk manager for a hospital extension project is leading a project team in developing a risk management plan. One team member is responsible for conducting risk identification. The team member just joined the team and is struggling to ensure the coverage of all risks that might arise in this complex project.

How should the risk manager address this concern?

A.

Develop a risk breakdown structure {RBS) to identify possible risks.

B.

Develop a risk impact analysis to assess the consequences of possible risks

C.

Develop a probability and impact matrix to analyze possible risks.

D.

Create a risk register to capture and track possible risks.

 

Full Access
Question # 30

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 risk manager do?

A.

Contact the risk managers of the other projects and inform them

B.

Include an escalation process in the risk management plan

C.

Take note of the extensive impact of these risks in the risk register

D.

Address the unique characteristics of these risks on a case-by-case basis

Full Access
Question # 31

A risk manager has to inform a project sponsor of the expected duration of an entire project. The project has three mam tasks, each with different probabilities of duration.

Which analytical tool should the risk manager use?

A.

Probability tree diagram

B.

Ishikawa diagram

C.

Decision tree analysis

D.

Monte Carlo simulation

Full Access
Question # 32

An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.

What is the current project risk exposure?

A.

US$18,000

B.

US$72.000

C.

US$30,000

D.

US$48,000

Full Access
Question # 33

A project has a significant impact on an organization. Multiple stakeholders expressed concerns regarding the overall project risk during construction of the risk management plan, and they agreed that the risk appetite is low.

What should the project risk manager monitor closely?

A.

Risk thresholds

B.

Risk response strategies

C.

Risk management reports

D.

Risk breakdown structure (RBS)

Full Access
Question # 34

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?

A.

Update the new risk in the risk register.

B.

Plan responses for the new risk.

C.

Passively accept the new risk.

D.

Add the new risk to the watch list.

Full Access
Question # 35

A project team identified some risks in a project. Team members became interested in predicting the outcomes of their potential choices following their probability of occurrence.

Which technique should the risk manager use?

A.

Political, economic, social, technological, legal, and environmental (PESTLE) analysis

B.

Strengths, weaknesses, opportunities, and threats (SWOT) analysis

C.

Decision tree analysis

D.

Cost-benefit analysis

Full Access
Question # 36

What should the risk owner use as an effective information-gathering technique during the planning session?

A.

Monte Carlo analysis

B.

Update risk register

C.

Brainstorming

D.

Cost and time estimating

Full Access
Question # 37

The project risk manager for an environmental preservation project has started the process of monitoring and controlling risks, The project manager has asked the project team to document the results of this process.

How should this documentation be utilized in the future?

A.

To return the remaining amount of the contingency reserve

B.

To ensure information is recorded for lessons learned

C.

To comply with the rules and regulations

D.

To hold those who created the risk accountable

Full Access
Question # 38

An organization faces immense competition in the market and decides 10 accelerate a keyproject. What is the first action for the project risk manager to take?

A.

Ensure sufficient resources are available

B.

Revise the risk management plan

C.

Update the risk register

D.

Meet with the project's stakeholders

Full Access
Question # 39

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.

Document the concern over the potential excessive additional cost.

B.

Manage the potential excessive additional cost as a new risk.

C.

Ensure the project sponsor has the risk appetite for the residual risk created by allowing overtime.

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.

 

Full Access
Question # 40

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.

Time Series Analysis

B.

Regression Analysis

C.

Variance Analysis

D.

Monte Carlo Analysis

 

Full Access
Question # 41

An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register.

What should the risk manager do next?

A.

Assess the identified secondary risk.

B.

Implement the risk response plan.

C.

Implement the risk contingency plan.

D.

Communicate the identified residual risk.

Full Access
Question # 42

While planning for project execution phase stakeholders are making decisions on how to respond to known and new risks. What artifact should the stakeholders prepare?

A.

Issue log

B.

Change log

C.

Assumption log

D.

Risk-adjusted back log

Full Access
Question # 43

A risk manager has noticed that response actions are not working as expected when a risk occurs, mainly because the risk triggers are not well-defined. Which tool should the risk manager use to facilitate risk trigger identification in the upcoming risk review assessment?

A.

Risk burndown chart

B.

Ishikawa diagram

C.

Risk breakdown structure (RBS)

D.

Affinity diagram

Full Access
Question # 44

The risk manager also serves as a facilitator for a project and realizes the project team members have biases impacting how they perceive risks. What analysis is currently being used?

A.

Quantitative risk analysis

B.

Force field analysis

C.

Qualitative risk analysis

D.

Stakeholder analysis

Full Access
Question # 45

The project team recorded a risk in the risk register indicating that weather-related delays may impact equipment delivery during project execution. When it is time to request the equipment shipment there is bad weather, but the client wants the equipment delivered anyway.

What should the project manager do?

A.

Wait until the weather improves before sending the equipment.

B.

Ask the project sponsor to approve shipping the equipment.

C.

Proceed with the planned risk response to move the equipment.

D.

Request the shipment of the equipment to satisfy the client.

Full Access
Question # 46

The project risk manager is in the process of identifying risks. The project sponsor has communicated that there is an influential stakeholder who has a senior management position. The other stakeholders do not feel comfortable speaking in front of this stakeholder.

What should the project risk manager do next to identify risks?

A.

Review the risk breakdown structure to ensure project scope is covered.

B.

Use the brainstorming technique to remove personal bias.

C.

Use expert judgment to remove ego or emotional conflict.

D.

Consider the Delphi technique to gather all stakeholder opinions.

Full Access
Question # 47

A project manager has been assigned to a project that is just starting. The organization has a very low risk appetite towards this project due to constraints on budget and schedule. The project stakeholders are very engaged on the project and want to ensure that there is clear visibility on the project risks and progress.

How should the project manager handle stakeholder expectations?

A.

Add buffers to the schedule to accommodate risk.

B.

Ensure the risk register includes all identified risks.

C.

Discuss the risk response strategies with the stakeholders.

D.

Develop a communication plan to share updates on risks.

Full Access
Question # 48

The project’s customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?

A.

Update the assumptions/exclusions register

B.

Hire more resources and crash the schedule

C.

Perform a qualitative risk analysis for the project

D.

Mitigate risks identified on the sensitivity analysis

Full Access
Question # 49

During a meeting with a project team, a project manager asks a risk manager to determine the risk events that could potentially have the most impact on a 2-year project with a budget of US$800 000. Which approach should the risk manager suggest the project manager take?

A.

Sensitivity analysis

B.

Simulation analysis

C.

Monte Carlo simulation

D.

Quantitative analysis

Full Access
Question # 50

A project manager is working on a high priority and high profile project. The project team hadidentified three opportunities, and after analysis, risk responses were recorded. Although risk responses were adequate for the identified opportunities, two of those opportunities were not acted upon. During the risk audit, the project manager found out that several of the planned risk responses were not implemented.

What should the project manager have done to avoid this?

A.

Provided regular training to the risk owners for plan implementation

B.

Determined risk triggers and thresholds in the risk response plan

C.

Increased communications to influence stakeholder risk responses

D.

Updated the project schedule, adding risk owner implementation tasks.

Full Access
Question # 51

The stakeholders of a building construction project are not comfortable with the project manager's handling of the project as they believe there is a financial risk. The project manager asks the risk manager to assist in demonstrating to the stakeholders that the project risks are under a tolerable threshold.

What should the risk manager do first to demonstrate this to the stakeholders?

A.

Gather other project risk historical information.

B.

Gather and reconcile project risk report data.

C.

Work with the sponsor to convince the risks are under control.

D.

Work with the team to ensure the project is in good health.

 

Full Access
Question # 52

A certain risk is identified for a major project, and the risk response is planned. However, the analysis reveals a high probability for a secondary risk which will be tolerated based on the organization's risk thresholds. The secondary risk is subsequently registered. During project execution, the primary risk occurs, the planned action is taken, and the secondary risk emerges

What two actions should the risk owner take? (Choose two.)

A.

Implement the secondary risk response and update the project documents.

B.

Conduct meeting with all stakeholder to agree on post impact solutions.

C.

Set the corresponding trigger conditions to the secondary risk.

D.

Engage the project manager to authorize the secondary risk's response.

E.

Update and communicate assessments of the secondary risk's impact.

Full Access
Question # 53

A risk manager has been assigned to a project in a company that is undergoing a significant cultural and organizational change. The risk manager will start planning risk management. activities with stakeholders but is unsure with whom to engage.

What should the risk manager do?

A.

Assign a subset of stakeholders to work on the risk management process.

B.

Leverage the project manager's project stakeholder analysis.

C.

Agree with the project manager not to start risk activities.

D.

Send a communication inviting volunteers to join risk activities.

Full Access
Question # 54

A company is preparing a formal response to bid for an infrastructure engineering, procurement, and construction project. When should a risk register be developed to identify risks?

A.

During the project execution phase to allow the project manager to understand the risk attitudes of stakeholders.

B.

When a client project kick-off meeting is held to introduce risk assessment process to the client.

C.

Before a formal bid response is provided to the client to gain a greater understanding of the project’s risk profile.

D.

After a project budget is set up with a purchase order to charge hours for a risk workshop.

Full Access
Question # 55

During the construction of a housing development, a project team realizes they exceeded their materials budget during the first of three execution stages. The risk manager observed that the team did not notice that the cost of the materials increased due to continuous inflation in the steel market.

What could have been done during project planning to avoid overspending?

A.

Met weekly with the finance team to monitor the cost

B.

Communicated with the stakeholders that the project costs might increase

C.

Properly documented the triggers and actions for the risk

D.

Engaged with the sponsor to buy the steel in advance of the project

 

Full Access
Question # 56

A risk manager has been assigned to replace a risk manager on sick leave. The new risk manager notices that the risk register is missing data that are key to the risk management process.

Which data will the risk manager require first?

A.

Risk description risk response, and quantitative data

B.

Project plan, risk complexity, and secondary risk

C.

Project plan, risk priority, and tool availability

D.

Risk description, risk probability, and risk impact

 

Full Access
Question # 57

During the design phase the project team is exploring various architecture options. After reviewing the results of design pilot, two conflicting infrastructure pieces were identified.

What action should the project manager take?

A.

Reassess the design for the two pieces.

B.

Escalate the situation and request approval to move forward.

C.

Confirm the results through a second pilot.

D.

Update the assumptions log and assess the risk associated with it.

Full Access
Question # 58

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?

A.

Gather risk information from all parties and compile all submissions into a strength, weaknesses, opportunities, and threats (SWOT) analysis template.

B.

Create a repository for project documents and related artifacts that can be accessed by all parties.

C.

Communicate program metrics to all parties and create a scorecard to measure the effectiveness.

D.

Work with the project manager to develop a start-up workshop and colocate the team if permitted.

 

Full Access
Question # 59

 

One project in a program needs to be completed in 6 months because there is a large bonus for early completion. Consequently, the program manager transfers all resources to this project and arranges for employees to receive overtime pay.

Which risk response strategy is the program manager using in this scenario?

A.

Escalate

B.

Transfer

C.

Enhance

D.

Exploit

 

Full Access
Question # 60

A project manager of an IT company is assigned to a project whose schedule may be delayed due to a lack of resources to conclude the backlog activities. The project manager decides to hire additional developers to reduce the project's technical debt and meet the project deadline.

What should the risk manager advise the project manager to do to address this situation?

A.

Immediately hire as soon as the project begins to fall behind schedule.

B.

Hire as soon as the project metrics trigger a risk response.

C.

Only hire when it is economically feasible to do so.

D.

Only hire if risk response is escalated and approved by the stakeholders.

 

Full Access
Question # 61

While developing a risk management plan for a complex program in a metricized environment, a program management team is itemizing a response plan for each identified risk that appears in the risk register. What should the risk manager do to effectively monitor the risks?

A.

Present the complicated nature of the program risk responses to the sponsor for proper advice.

B.

Determine the workarounds for the program risks and allocate responsibilities to the team.

C.

Allow the most experienced program manager to handle the most critical program risks.

D.

Encourage the program team to assume risk ownership prior to delegation.

 

Full Access
Question # 62

A risk manager administered a pre-workshop risk survey in preparation for the upcoming workshop. The workshop invitees participated in the survey and submitted many risks encompassing all project phases and risk areas. The risk manager sorts risks by similarities and categories for the workshop.

What should the risk manager do next to visually organize the risks?

A.

Develop an affinity diagram

B.

Perform the analytical hierarchy process

C.

Perform a SWOT analysis

D.

Assign probability and impact

Full Access
Question # 63

A project manager is trying to realize benefits from new material on an adaptive project. This is the first time the project team is using the material so the team does not have information to identify and analyze risks. A team member informs the project manager that a local university has recently published a research journal on the same material.

Where should the project manager find this information?

A.

Industrial studies

B.

Commercial risk databases

C.

Organizational process assets (OPAs)

D.

Enterprise environmental factors (EEFs)

Full Access
Question # 64

An organization is embarking on a multi-million-dollar project with numerous identified risks. What should the project risk team do to navigate the risks on this project?

A.

Go for a low-risk threshold of ±5% around a cost objective.

B.

Confirm stakeholders risk thresholds based on risk appetites.

C.

Conduct risk identification to populate the risk register.

D.

Go for a high-risk threshold of ±10% around a cost objective.

 

Full Access
Question # 65

A risk manager notices that a risk owner is facing challenges implementing their response strategy and the costs are significantly exceeding expectations. What is the first thing the risk manager should do?

A.

Highlight this situation to the project manager

B.

Conduct a cost-benefit analysis

C.

Change the risk response strategy

D.

Analyze the situation and meet with the risk owner

Full Access
Question # 66

A mega facility development project is evaluating some options to achieve the project schedule and budget. Each option's success is driven by multiple quantifiable factors.

What should the project manager do to evaluate and select the best option based on costs and probabilities?

A.

Perform a FMECA fault tree analysis

B.

Conduct a sensitivity analysis

C.

Perform a decision tree analysis

D.

Conduct an analytic hierarchy process

Full Access