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Question 1

Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?

A : The project scope statement must be understood to see the project requirements and the inherent risks of the project.

B : The project scope statement will reveal the type of project as either a recurrent or first-of-its-kind project.

C : The project scope identifies the risks associated with project constraints.

D :

The project scope statement must be reviewed to understand the quality requirements and the risks

associated with the demand for quality

Answer: B

Question 2

You are the project manager of the BJA Project for your company. Management is worried about one of the

identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000.

Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you

can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three

weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time

and cost additions to your project plan. What type of risk response is used?

A : Avoidance

B : Acceptance

C : Exploit

D : Mitigation

Answer: D

Question 3

Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending. What is the purpose of reviewing the contingency reserve?

A : It helps to evaluate if the remaining reserve is adequate for the risk exposure.

B : It helps to determine how much more funds will need to be invested in the project.

C : It helps to evaluate secondary and residual risks related to the risk responses and their costs.

D : It helps to determine the probability and impact of project risks.

Answer: A

Question 4

The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?

A : Trends in qualitative risk analysis

B : Risk probability-impact matrix

C : Watchlist of low-priority risks

D : Risks grouped by categories

Answer: B

Question 5

John works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk?

A : Activity duration estimates

B : Schedule management plan

C : Risk management plan

D : Activity cost estimates

Answer: A

Name:	PMI Risk Management Professional
Exam Code:	PMI-RMP
Certification:	PMI Risk Management Professional
Vendor:	PMI
Total Questions:	445
Last Updated:	May 07, 2024

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