PMI Risk Management Professional practice questions

1. Question 1 of 25

   What are common examples used to communicate risk probability and impact?

   • ARisk checklist, risk assessment, regression analysis, and assumption and constraint analysis
   • BMonitor Risks process, multi-dimensional risk assessment, control chart, and Monte Carlo simulation
   • CProbability distributions, sensitivity analysis, modeling and simulation, and probability and impact matrix
   • DMonitor Risks process, assumption and constraint analysis, modeling and simulation, and risk register

   Show answer

   Correct answer: C

   How others answered

   • C100%

   Explanation

   A big thank you to Realexamcollection for their exceptional educational support! Their premium quality content played a significant role in helping me achieve a stellar 90% score in the PMI-RMP exam.

   Adapted from community discussion by gemive · 2024-04-25 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 1 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. I

      IBANGA007

      2022-12-22

      Selected C2 upvotes

      The correct answer is: C. Probability distributions, sensitivity analysis, modeling and simulation, and probability and impact matrix.

   2. G

      gemive

      2024-04-25

      2 upvotes

      A big thank you to Realexamcollection for their exceptional educational support! Their premium quality content played a significant role in helping me achieve a stellar 90% score in the PMI-RMP exam.

   3. X

      XC90

      2025-03-10

      Selected C1 upvote

      Probability distributions, sensitivity analysis, modeling and simulation, and probability and impact matrix are tools that can be use to represent and communicate risks' probability and impact.

   4. S

      StueyBrad

      2024-12-15

      Selected C1 upvote

      Risk Matrix is a visual tool that uses a grid to plot the probability of risks occurring against their impact. This helps prioritize risks based on their severity.

2. Question 2 of 25

   A project risk manager is concerned about the low performance of risk management on a mission-critical project. After assessing the situation, the risk manager finds that the communication style may be the main contributor. What could the project risk manager do to adjust the approach to influence team members to improve performance?

   • AUse follow-up emails, adopt an open door policy, and ask for feedback.
   • BSeek hidden agendas, vent frustrations, and allow others to vent frustrations.
   • CProvide continuous support, counseling, build trust, and open communications.
   • DConduct one-on-one meetings, more frequent follow-up meetings, and implement the management by walking around technique.

   Show answer

   Correct answer: D

   Explanation

   C is best answer because any manager needs to support his team , build trust will lead to improve team. If you read agile project management, you will know how leader work as servant leadership and focus on his people 👍🏼

   Adapted from community discussion by Aliali · 2022-12-01 · 5 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 2 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. A

      Aliali

      2022-12-01

      5 upvotes

      C is best answer because any manager needs to support his team , build trust will lead to improve team. If you read agile project management, you will know how leader work as servant leadership and focus on his people 👍🏼

   2. S

      SABAJANANADA

      2024-07-04

      3 upvotes

      THE QUESTION IS HOW TO SUPPORT THE TEAM , SO C IS THE BEST ANSWER

   3. A

      ahmedSayis

      2023-05-24

      2 upvotes

      EXCUSE ME IT'S NOT THE AGILE APPROACH,, THE question IS REFLECTED IN THE PREDICTIVE APPROACH... The best communication method is interactive , which means D option D. Conduct one-on-one meetings, more frequent follow-up meetings, and implement the management by walking around technique.

   4. R

      RoyalWarrior

      2024-09-13

      1 upvote

      The question asks...What could the project risk manager (not the project manager) do to adjust the approach to influence team members to improve performance? Overall pmi wording can be very tricky and can get you on a sorts of trouble if you're not careful. Answer D for me

3. Question 3 of 25

   Which of the following success factors will enhance the Perform Qualitative Risk Analysis process as the risk occurrence gets closer?

   • AAgreed-upon definition
   • BIterative analysis
   • CHigh quality information
   • DAgreed-upon approach

   Show answer

   Correct answer: D

   How others answered

   • D75%
   • C25%

   Explanation

   Key Success factors at 4.4.2 in Standard for Risk are: 1. Use Agreed Approach 2. Use Agreed definitions of Risk terms 3. Collect credible information about risk 4. Perform iterative qualitative risk analysis So more than one answers are correct.........

   Adapted from community discussion by Azharmak · 2024-05-28 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

   Supporting references

   • pmi.org documentation

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   Question 3 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. A

      aws_guru1

      2023-09-14

      Selected D2 upvotes

      The correct answer is D. I don't know who is providing the answers for Exam Topic.

   2. A

      Azharmak

      2024-05-28

      2 upvotes

      Key Success factors at 4.4.2 in Standard for Risk are: 1. Use Agreed Approach 2. Use Agreed definitions of Risk terms 3. Collect credible information about risk 4. Perform iterative qualitative risk analysis So more than one answers are correct.........

   3. M

      muhammadidrees87_

      2024-04-01

      2 upvotes

      The success of qualitative risk analysis is enhanced if the process is used periodically throughout the project. (PRACTICE STANDARD),, Answer B iterative

   4. S

      sheraship22

      2024-07-27

      1 upvote

      Azharmak is correct. Per practice standard for RM, section 6.2, all of the answers are key success factors in perform qualitative analysis. https://www.pmi.org/-/media/pmi/documents/public/pdf/certifications/practice-standard-project-risk-management.pdf?v=1e0b5985-74af-4c57-963c-b91a9af6fecb

4. Question 4 of 25

   A project in the execution phase at the customer's site has an issue concerning new parts that do not fit properly into a machine. The site project manager cannot find this high probability risk in the risk register. What action should the site project manager take?

   • AVariance analysis
   • BWorkaround
   • CRisk assessment
   • DRisk audit

   Show answer

   Correct answer: B

   How others answered

   • B100%

   Explanation

   the best answer is a workaround because the manager should be proactive and because the risk wasnot identified before so you should take a quick action.what is the benefit to make risk audit in this case?nothing

   Adapted from community discussion by hossam83 · 2021-08-02 · 4 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 4 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. H

      hossam83

      2021-08-02

      4 upvotes

      the best answer is a workaround because the manager should be proactive and because the risk wasnot identified before so you should take a quick action.what is the benefit to make risk audit in this case?nothing

   2. M

      MikeMarlo

      2024-11-19

      Selected B1 upvote

      We have an issue, not a risk; so we cannot do a *risk* assessment in this case, but an *issue* assessment. We will make a *Workaround* Option B.

5. Question 5 of 25

   Which input could be utilized to perform quantitative risk analysis to reduce uncertainty?

   • ARisk categorization
   • BOrganizational process assets
   • CStakeholder register
   • DExpert judgment

   Show answer

   Correct answer: B

   How others answered

   • B75%
   • D25%

   Explanation

   Answer is B - Organizational Process Assets. The following are inputs into the process "Perform Quantitative Risk Analysis": risk register, risk management plan, cost management plan, schedule management plan, and organizational process assets.

   Adapted from community discussion by aws_guru1 · 2024-04-05 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 5 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. A

      aws_guru1

      2024-04-05

      Selected B2 upvotes

      Answer is B - Organizational Process Assets. The following are inputs into the process "Perform Quantitative Risk Analysis": risk register, risk management plan, cost management plan, schedule management plan, and organizational process assets.

   2. A

      Azharmak

      2024-11-06

      1 upvote

      Expert Judgement is tool. OPA and EEF are the inputs. Answer B

6. Question 6 of 25

   A project manager wants to represent the distribution of uncertainty around a risk model element. However, good data on the variability of the risk model element has not been collected, and only contains minimum and maximum values. What curve should the project manager use to represent the distribution?

   • AUniform
   • BBeta
   • CNormal
   • DLognormal

   Show answer

   Correct answer: A

   How others answered

   • A100%

   Explanation

   Answer A is correct. A uniform distribution is a type of probability distribution in which all outcomes are equally likely. It is also known as a rectangular distribution because the probability density function of the uniform distribution is a constant within the given range and zero outside the range. The uniform distribution does not have any specific parameters; it only contains the minimum and maximum values of the range. It is also the most commonly used probability distribution in uncertainty analysis.

   Adapted from community discussion by RoyalWarrior · 2023-09-13 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 6 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. R

      RoyalWarrior

      2023-09-13

      2 upvotes

      Answer A is correct. A uniform distribution is a type of probability distribution in which all outcomes are equally likely. It is also known as a rectangular distribution because the probability density function of the uniform distribution is a constant within the given range and zero outside the range. The uniform distribution does not have any specific parameters; it only contains the minimum and maximum values of the range. It is also the most commonly used probability distribution in uncertainty analysis.

   2. A

      ahmedSayis

      2022-05-24

      3 upvotes

      the correct answer is uniform because it contains only contains minimum and maximum values.

   3. M

      MikeMarlo

      2024-11-19

      Selected A1 upvote

      A uniform distribution assumes that all values within a given range (in this case, between the minimum and maximum values) are equally likely to occur

   4. A

      AllPMI

      2023-10-01

      1 upvote

      Correct answer is A. Uniform distributions can be used if there is no obvious value that is more likely than any other between specified high and low bounds, such as in the early concept stage of design.

7. Question 7 of 25

   The risk manager evaluates two contractors, contractor A and contractor B, for a project with a finish date of 15 December. The contractors' bids are the same, including the cost. After performing a Monte Carlo assessment on the contractors' schedules, the risk manager returns the following information:

   

   In order for contractor A to meet the finish date of 15 December, it will cost an additional US$750,000, and will not change the confidence level. In order for contractor B to meet the finish date of 15 December, it will cost an additional US$600,000, and will increase the confidence level by 10%. Which contractor should the risk manager select?

   • AContractor A, based on the probability and confidence levels, as there is a higher cumulative probability of completion by 15 December.
   • BContractor B, based on the probability and confidence levels, as there is a higher cumulative probability of completion by 15 December.
   • CContractor B, based on costing US$150,000 less than contractor A.
   • DContractor A, based on the confidence level.

   Show answer

   Correct answer: B

   How others answered

   • B100%

   Explanation

   Contractor B has both a higher probability of completion and a higher confidence level, making it the preferred choice. Additionally, the additional cost of US$600,000 seems justified given the improvement in confidence level.

   Adapted from community discussion by MikeMarlo · 2024-11-19 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 7 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. M

      MikeMarlo

      2024-11-19

      Selected B2 upvotes

      Contractor B has both a higher probability of completion and a higher confidence level, making it the preferred choice. Additionally, the additional cost of US$600,000 seems justified given the improvement in confidence level.

   2. A

      AKB968

      2024-06-18

      1 upvote

      Additional Cost is main factor here, 750-600 = 150 lesser for project B. So choose option C. All other details are just time taking and of no use.

8. Question 8 of 25

   

   Contingency Reserve Total: US$213,000 Due to a mitigation strategy. Risk 4's probability has been reduced to 40%. What would be the new contingency reserve total?

   • AUS$92,400
   • BUS$145,800
   • CUS$157,000
   • DUnable to calculate a total due to lack of pertinent information.

   Show answer

   Correct answer: C

   How others answered

   • C100%

   Explanation

   Answer is D Lets see the contingency reserve calculated for Risk 4 with .80 probability is incorrect. So if you divide it by 2 and then add through the result is wrong. So Answer id D

   Adapted from community discussion by Azharmak · 2023-11-29 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 8 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. A

      Azharmak

      2023-11-29

      2 upvotes

      Answer is D Lets see the contingency reserve calculated for Risk 4 with .80 probability is incorrect. So if you divide it by 2 and then add through the result is wrong. So Answer id D

   2. R

      RoyalWarrior

      2023-03-13

      2 upvotes

      risk 4 reserve has been reduced by half from $112,000 to $56,000. therefore the total contingency reserve is also reduced by $56,000 --> $213,000- $56,000=$157,000 c is correct

   3. O

      OMG4567

      2023-09-26

      Selected C1 upvote

      The method they used is (O+ML+P)/3. So 112k CR for the last risk is okay. Its summing up to 157k - option C

   4. L

      Lunk

      2023-09-22

      Selected C1 upvote

      This question has a host of problems, but I agree with RoyalWarrior's assessment

9. Question 9 of 25

   The risk manager is about to go on medical leave, but before departing, conducts a risk response planning review meeting with stakeholders. A new risk manager is assigned to the project, and during the first status meeting an issue is identified. What is the appropriate course of action in this case?

   • APerform a project review.
   • BPerform a risk reserve analysis.
   • CImplement an action plan to resolve the issue.
   • DDelegate to the action owner.

   Show answer

   Correct answer: C

   Explanation

   C is the best answer, the project manager and risk manager must be proactive because the risk converted to an issue which must be solved immediately

   Adapted from community discussion by hossam83 · 2024-02-03 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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   Question 9 discussion

   These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

   1. H

      hossam83

      2024-02-03

      2 upvotes

      C is the best answer, the project manager and risk manager must be proactive because the risk converted to an issue which must be solved immediately

   2. E

      edusousa

      2024-01-22

      2 upvotes

      Issue is a certain problem, it is not a risk. We need to implement a plan to solve it.

10. Question 10 of 25

    During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites. The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process. What should the project manager do next?

    • ADeal with the issue and instruct the risk manager to include the risk of theft in the issue log.
    • BUpdate the project schedule and inform the stakeholders about the project schedule delay.
    • CInstruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.
    • DMake the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.

    Show answer

    Correct answer: A

    How others answered

    • A100%

    Explanation

    the key is "include the risk of theft in the issue log." we do not include risk of theft to issue log, but to the risk register.

    Adapted from community discussion by emikhael · 2023-09-18 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 10 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. E

       emikhael

       2023-09-18

       3 upvotes

       the key is "include the risk of theft in the issue log." we do not include risk of theft to issue log, but to the risk register.

    2. M

       MikeMarlo

       2024-11-20

       Selected A1 upvote

       Deal with the issue also means to transfer the risk to another company, but it is open to interpretation, assessment, analysis, etc. Additionally, including the risk in the issue log is necessary step to be done, as instruct the Risk Manager about theft for future projects.

    3. R

       RoyalWarrior

       2023-09-13

       2 upvotes

       I see how identifying this risk and implementing a response plan (insurance) might help the project in the future, but I am not sure how this helps the project manager deal with the current issue of theft

    4. [

       [Removed]

       2024-05-06

       Selected A1 upvote

       (C) choice is a good long-term solution, but it is not the first step. The project manager should first deal with the issue of the missing materials.

11. Question 11 of 25

    What steps would be used during the qualitative risk analysis process to provide input to the risk register?

    • ASelect risks characteristics, collect and analyze data, prioritize risks, categorize risks causes, document results
    • BInterviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results
    • CInterviews, expert opinions, risk manager review, prioritize risks, and document results
    • DSelect risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results

    Show answer

    Correct answer: A

    How others answered

    • A75%
    • C25%

    Explanation

    Answer C is correct. As risk categories are first selected in the Plan Risk Management Process with the help of the Risk Breakdown structure. Categories of risk are specific elements within a project or its operational environment that could go wrong during the planning, implementation, or follow-up phases of an activity. These risk categories consider things such as costs, timeline, available staff, public reception, and available inventory. They look at the details that go into making a successful project and consider what would happen if one or more of those details veered off course.

    Adapted from community discussion by RoyalWarrior · 2023-03-13 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 11 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. A

       ahmedSayis

       2021-11-24

       4 upvotes

       A. Select risks characteristic, collect and analyze data, prioritize risks, categorize risks causes, document results

    2. R

       RoyalWarrior

       2023-03-13

       2 upvotes

       Answer C is correct. As risk categories are first selected in the Plan Risk Management Process with the help of the Risk Breakdown structure. Categories of risk are specific elements within a project or its operational environment that could go wrong during the planning, implementation, or follow-up phases of an activity. These risk categories consider things such as costs, timeline, available staff, public reception, and available inventory. They look at the details that go into making a successful project and consider what would happen if one or more of those details veered off course.

    3. M

       MikeMarlo

       2024-05-18

       Selected A1 upvote

       - You have already done Risk Identification, so you know some details about Project Risks and you have it documented in its output: the Risk Register. The first thing, that you should start with, is Selecting risks characteristics. - Risk categorisation is also a tool of Qualitative Analysis. - Prioritize Risks is the main output of Qualitative Analysis. - Categorize Risks Analysis is also in its ITTOs. - Document results is obvious.

    4. R

       Rehman7510

       2023-08-09

       Selected A1 upvote

       Select risks characteristic, collect and analyze data, prioritize risks, categorize risks causes, document results

12. Question 12 of 25

    

    Given the output from the Monte Carlo simulation, what is the probability of a successful completion within the project budget?

    • A30% probability of meeting project budget
    • B46% probability of meeting project budget
    • C56% probability of meeting project budget
    • D60% probability of meeting project budget

    Show answer

    Correct answer: C

    How others answered

    • C100%

    Explanation

    should be C : because at 50% the estimated cost is $1,635,00 and at 60% the estimated cost is $1,662,000. The total project cost is $1,655,000 which is between 50% - 60%

    Adapted from community discussion by emikhael · 2024-03-18 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 12 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. E

       emikhael

       2024-03-18

       Selected C2 upvotes

       should be C : because at 50% the estimated cost is $1,635,00 and at 60% the estimated cost is $1,662,000. The total project cost is $1,655,000 which is between 50% - 60%

    2. R

       RoyalWarrior

       2024-03-13

       2 upvotes

       Answer should C because at 50% the estimated cost is $1,635,00 and at 60% the estimated cost is $1,662,000. The total project cost is $1,655,000 which is between 50% - 60%

13. Question 13 of 25

    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?

    • ATake note of the extensive impact of these risks in the risk register
    • BAddress the unique characteristics of these risks on a case-by-case basis
    • CInclude an escalation process in the risk management plan
    • DContact the risk managers of the other projects and inform them

    Show answer

    Correct answer: C

    How others answered

    • C100%

    Explanation

    Escalation is appropriate when the project team or the project sponsor agrees that a threat is outside the scope of the project or that the proposed response would exceed the project manager’s authority. Escalated risks are managed at the program level, portfolio level, or other relevant parts of the organization, and not at the project level. The project manager determines who should be notified about the threat and communicates the details to that person or part of the organization. It is important that ownership of escalated threats is accepted by the relevant party in the organization. Threats are usually escalated to the level that matches the objectives that would be affected if the threat occurred. Escalated threats are not monitored further by the project team after escalation, although they may be recorded in the risk register for information. PMBOK6 Page# 442.

    Adapted from community discussion by AllPMI · 2023-10-01 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 13 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. A

       AllPMI

       2023-10-01

       3 upvotes

       Escalation is appropriate when the project team or the project sponsor agrees that a threat is outside the scope of the project or that the proposed response would exceed the project manager’s authority. Escalated risks are managed at the program level, portfolio level, or other relevant parts of the organization, and not at the project level. The project manager determines who should be notified about the threat and communicates the details to that person or part of the organization. It is important that ownership of escalated threats is accepted by the relevant party in the organization. Threats are usually escalated to the level that matches the objectives that would be affected if the threat occurred. Escalated threats are not monitored further by the project team after escalation, although they may be recorded in the risk register for information. PMBOK6 Page# 442.

    2. A

       AllPMI

       2023-10-01

       3 upvotes

       Correct answer should be 'C' The risk management plan includes the tailored risk management processes, which are based on the process maturity of the organization. Scalable elements of the process that are a part of risk management planning include, but are not limited to: Available resources, Escalation paths, Methodology and processes used, Tools and techniques used, Supporting infrastructure, Review and update frequency, Reporting requirements. The reference is the standard for risk management in portfolios, programs, and projects page#31.

    3. M

       MikeMarlo

       2024-11-20

       Selected C1 upvote

       Escalation process includes also communication. The difference lies in formalized procedure or not of doing it. You just can inform other risk managers or create a formal escalation process where it is documented how to approach to this kind of situations; and then, do the escalation = inform.

14. Question 14 of 25

    Select 2

    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.)

    • AUpdate and communicate assessments of the secondary risk’s impact.
    • BImplement the secondary risk response and update the project documents.
    • CSet the corresponding trigger conditions to the secondary risk.
    • DEngage the project manager to authorize the secondary risk’s response.
    • EConduct meeting with all stakeholder to agree on post impact solutions.

    Show answer

    Correct answer: A, B

    How others answered

    • AB100%

    Explanation

    If a secondary risk is identified during the risk assessment process for a major project and is subsequently registered, but the primary risk occurs and the secondary risk emerges during project execution, the risk owner should take the following actions: A. Update and communicate assessments of the secondary risk's impact: The risk owner should assess the impact of the secondary risk and communicate this to relevant stakeholders. This can help ensure that all necessary actions are taken to address the risk. B. Implement the secondary risk response and update the project documents: The risk owner should implement the response that was previously planned for the secondary risk and update the project documents to reflect this. This may involve implementing additional controls or taking other actions to mitigate the risk.

    Adapted from community discussion by Proctored_Expert · 2024-06-20 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 14 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. P

       Proctored_Expert

       2024-06-20

       Selected A, B2 upvotes

       If a secondary risk is identified during the risk assessment process for a major project and is subsequently registered, but the primary risk occurs and the secondary risk emerges during project execution, the risk owner should take the following actions: A. Update and communicate assessments of the secondary risk's impact: The risk owner should assess the impact of the secondary risk and communicate this to relevant stakeholders. This can help ensure that all necessary actions are taken to address the risk. B. Implement the secondary risk response and update the project documents: The risk owner should implement the response that was previously planned for the secondary risk and update the project documents to reflect this. This may involve implementing additional controls or taking other actions to mitigate the risk.

15. Question 15 of 25

    A home solar panel project has many internal and external stakeholders including households, businesses, community groups, electric utility companies, local government officials, landlords, and investors. What should the project manager do when engaging stakeholders?

    • AInclude all stakeholders in the project’s governance.
    • BIgnore any risks beyond stakeholders’ tolerance.
    • CCommunicate response strategies to all stakeholders.
    • DConsider stakeholders’ positions and opinions regarding the project’s output.

    Show answer

    Correct answer: C

    How others answered

    • C50%
    • D50%

    Only 50% agreed on this answer — treat it as contested rather than settled.

    Explanation

    Yes, communicating response strategies to all stakeholders is one of the things that the project manager should do when engaging stakeholders in a home solar panel project. When stakeholders are informed about how risks are being managed, they can have a better understanding of the project and its progress. This can help to build trust and support for the project, and can also help to identify and mitigate potential risks. In addition to communicating response strategies, the project manager should also consider stakeholders' positions and opinions regarding the project's output, include all stakeholders in the project's governance, and avoid ignoring any risks beyond stakeholders' tolerance. These actions can help to build trust and support for the project, and can also help to identify and mitigate potential risks

    Adapted from community discussion by Proctored_Expert · 2022-12-20 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 15 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. P

       Proctored_Expert

       2022-12-20

       Selected C2 upvotes

       Yes, communicating response strategies to all stakeholders is one of the things that the project manager should do when engaging stakeholders in a home solar panel project. When stakeholders are informed about how risks are being managed, they can have a better understanding of the project and its progress. This can help to build trust and support for the project, and can also help to identify and mitigate potential risks. In addition to communicating response strategies, the project manager should also consider stakeholders' positions and opinions regarding the project's output, include all stakeholders in the project's governance, and avoid ignoring any risks beyond stakeholders' tolerance. These actions can help to build trust and support for the project, and can also help to identify and mitigate potential risks

16. Question 16 of 25

    A project manager is developing the risk register and works with the team to analyze risks and determine their probability and impact. There is valuable historical data available that may be used to simulate the overall risk outcome. Which type of analysis should the project manager use in this instance?

    • ACheck list analysis
    • BQuantitative analysis
    • CCause and effect
    • DSpecialized meeting

    Show answer

    Correct answer: B

    How others answered

    • B71%
    • A29%

    Only 71% agreed on this answer — treat it as contested rather than settled.

    Explanation

    I recommend using quantitative analysis in this instance. Quantitative analysis involves using numerical data and statistical techniques to evaluate risks and assess their likelihood and impact. This type of analysis can be particularly useful when there is historical data available that can be used to simulate the overall risk outcome. By using quantitative analysis, the project manager can take a more objective and data-driven approach to risk assessment, and can use the results of the analysis to inform risk management strategies. Some common techniques for quantitative risk analysis include decision tree analysis, Monte Carlo simulation, and expected value analysis.

    Adapted from community discussion by IBANGA007 · 2023-06-22 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 16 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. I

       IBANGA007

       2023-06-22

       Selected B3 upvotes

       I recommend using quantitative analysis in this instance. Quantitative analysis involves using numerical data and statistical techniques to evaluate risks and assess their likelihood and impact. This type of analysis can be particularly useful when there is historical data available that can be used to simulate the overall risk outcome. By using quantitative analysis, the project manager can take a more objective and data-driven approach to risk assessment, and can use the results of the analysis to inform risk management strategies. Some common techniques for quantitative risk analysis include decision tree analysis, Monte Carlo simulation, and expected value analysis.

    2. M

       MikeMarlo

       2024-11-20

       Selected B1 upvote

       Check list is more to identify risks rather than analyze them. There are certain words that assure that we are in Quantitative analysis: - Overall risks analysis - Determine Prob. & Impact - Simulate risk outcome

    3. A

       AllPMI

       2023-10-01

       1 upvote

       This is tricky. My first instinct is to go with option B, however CLA is a valid option owing to reference to historical data. The checklist analysis provides an avenue in determining the risks involved in a particular project management plan. The checklist is usually developed based on the knowledge obtained from previous projects that are similar to the current one as well as historical information.

17. Question 17 of 25

    When using the risk register to manage the cost risk analysis, which of the following models the way correlation arises, and avoids the need to estimate the correlation coefficients?

    • ARisk Monte Carlo analysis
    • BRisk driver method
    • CRisk scatter diagram
    • DRisk RACI matrix

    Show answer

    Correct answer: A

    How others answered

    • A44%
    • C33%
    • B22%

    Only 44% agreed on this answer — treat it as contested rather than settled.

    Explanation

    A risk Monte Carlo analysis is a statistical technique that can be used to model the way correlation arises and avoid the njavascript:void(0)eed to estimate correlation coefficients when managing cost risk analysis using a risk register.

    Adapted from community discussion by IBANGA007 · 2023-06-22 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 17 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. I

       IBANGA007

       2023-06-22

       Selected A3 upvotes

       A risk Monte Carlo analysis is a statistical technique that can be used to model the way correlation arises and avoid the njavascript:void(0)eed to estimate correlation coefficients when managing cost risk analysis using a risk register.

    2. Y

       yandasatria

       2024-01-28

       2 upvotes

       the keyword is correlation, Correlation is one method that we can find in scatter diagram. Monte Carlo is used for What-if Analysis with multiple iteration and many factor caused the simulation, hence the answer is C

    3. S

       StueyBrad

       2024-12-15

       Selected A1 upvote

       When managing cost risk analysis using a risk register, the Monte Carlo simulation is a model that inherently accounts for correlation without the need to estimate correlation coefficients.

18. Question 18 of 25

    A risk on the risk register is triggered. This triggered risk costs US$200,000 to mitigate and will overwhelm the project, causing it to fail if not mitigated. The project manager identifies that there is US$200,000 left in the management reserve. From which of the following sources should the funds be drawn to cover the risk mitigation?

    • AOrganization management reserve
    • BUnplanned risk reserve
    • CContingency reserve
    • DManagement reserve

    Show answer

    Correct answer: C

    How others answered

    • C100%

    Explanation

    Contigency reserve is the right choice for identified risk/known unknowns. Management reserves requires formal approval before application and it is meant to address unknown unknowns.

    Adapted from community discussion by gen2ty · 2022-07-22 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 18 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. G

       gen2ty

       2022-07-22

       3 upvotes

       Contigency reserve is the right choice for identified risk/known unknowns. Management reserves requires formal approval before application and it is meant to address unknown unknowns.

    2. C

       cskhal

       2021-12-09

       2 upvotes

       it must be a contingency reserve (C), because this risk is already identified in the risk register, and is triggered. For management reserves, the risk must be unknown unknown, not in RR.

    3. L

       Linkedin_Dario_Conde

       2024-11-22

       Selected C1 upvote

       Yeap C is correct because it i a known risk that occured therefore it should come from the contigency reserve

19. Question 19 of 25

    A risk is identified early in the project. After six months, it is determined that the risk does not apply to this particular project. How should the risk be handled by the risk manager?

    • AIgnore the risk and concentrate only on the pertinent risks.
    • BRemove the risk from the risk register and inform the project manager that it is no longer valid.
    • CClose the risk during the next risk board meeting and keep it in the risk register.
    • DConduct a risk analysis to determine how an inappropriate risk was formally accepted.

    Show answer

    Correct answer: C

    How others answered

    • C88%

    Explanation

    1. Standard has it that you don't delete any risk from the register . Also the best answer is to escalate the risk to the appropriate project it may affect. The risk was identified, assessed, and evaluated at the initial instance There may be reasons why the risk does not apply: maybe the scope has been completed or removed but no matter the reason, the risk is closed and still maintained in the register. You can audit a risk register to determine appropriateness. D is used when referring to issues and problems. Like when a risk occurs that was not identified or the actual impact of a risk is greater than the assessed impact or the response did not accurately mitigate or avoid the risk usually where the frequency is very high on the project If a single risk that was not identified occurs, we use work around but where many of them are occurring, we carry out investigations

    Adapted from community discussion by yandasatria · 2024-02-03 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 19 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. Y

       yandasatria

       2024-02-03

       Selected C2 upvotes

       1. Standard has it that you don't delete any risk from the register . Also the best answer is to escalate the risk to the appropriate project it may affect. The risk was identified, assessed, and evaluated at the initial instance There may be reasons why the risk does not apply: maybe the scope has been completed or removed but no matter the reason, the risk is closed and still maintained in the register. You can audit a risk register to determine appropriateness. D is used when referring to issues and problems. Like when a risk occurs that was not identified or the actual impact of a risk is greater than the assessed impact or the response did not accurately mitigate or avoid the risk usually where the frequency is very high on the project If a single risk that was not identified occurs, we use work around but where many of them are occurring, we carry out investigations

    2. O

       OMG4567

       2024-03-25

       Selected C2 upvotes

       Never remove a risk from the risk register as this will be input for future lessons learned. But you have to close it and return the CR back to the organization.

    3. _

       _MCV_

       2024-06-26

       Selected C2 upvotes

       Correct answer for me is C. You should not remove a risk form the risk register but close it instead

    4. L

       Lunk

       2024-03-22

       Selected C1 upvote

       Just because a probable event didn't happen doesn't mean you can't get valuable lessons learned from it

20. Question 20 of 25

    A company is executing a high-visibility project to develop mobile phone technology. The project sponsor is concerned that an overall high risk rating may undermine support for the project within the company. The sponsor has instructed the project manager to manipulate the data used for Monte Carlo simulation to artificially reduce the risk rating. What should the project manager do?

    • ASchedule a face-to-face meeting with the project sponsor.
    • BModify the data.
    • CIgnore the request.
    • DEmail the project sponsor explaining why the data should not be modified.

    Show answer

    Correct answer: A

    Explanation

    Face-to-face meetings are always better, especially if the sponsor asks for something unethical. However, I am still partial to sending an email to have some paper trail in case this situation gets out of hand, and you are penalized for not doctoring numbers

    Adapted from community discussion by RoyalWarrior · 2024-03-13 · 4 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 20 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. R

       RoyalWarrior

       2024-03-13

       4 upvotes

       Face-to-face meetings are always better, especially if the sponsor asks for something unethical. However, I am still partial to sending an email to have some paper trail in case this situation gets out of hand, and you are penalized for not doctoring numbers

    2. L

       Lunk

       2024-09-22

       1 upvote

       A is the "best" answer according to the PMI principles as RoyalWarrior observed.

21. Question 21 of 25

    Which of the following situational factors has a significant effect on risk attitude?

    • AThe risk heuristics evaluation available to the project team during planning and execution
    • BThe perception of probability or frequency of occurrence and the perception of impact magnitude
    • CThe number of project team members with close relationships to the chief executive officer (CEO)
    • DThe number of external stakeholders and the potential for indirect consequences

    Show answer

    Correct answer: B

    How others answered

    • B100%

    Explanation

    The correct answer is B: Risk attitude is a disposition toward uncertainty, adopted explicitly or implicitly by individuals and groups, driven by perception, and evidenced by observable behaviour. Risk attitude represents an organization’s approach to assessing and eventually pursuing, retaining, taking, or turning away from risk. Risk attitudes can range from risk averse to risk seeking. The Reference is the Standard for Risk Management in Portfolios, Programs, and Projects, Page#8 The Situational factors of risk attitude :- 1-Level of relevant skills, knowledge, or expertise. 2- Perception of probability or frequency of occurrence. 3- Perception of impact magnitude, either severity of negative threats or size of positive opportunities. 4- Degree of perceived control or choice in the situation, Manageability is a key assessment of risk, and will influence the preferred risk attitude. 5- Closeness of the risk in time. 6- Potential for direct consequences.

    Adapted from community discussion by AllPMI · 2024-04-01 · 4 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 21 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. A

       AllPMI

       2024-04-01

       4 upvotes

       The correct answer is B: Risk attitude is a disposition toward uncertainty, adopted explicitly or implicitly by individuals and groups, driven by perception, and evidenced by observable behaviour. Risk attitude represents an organization’s approach to assessing and eventually pursuing, retaining, taking, or turning away from risk. Risk attitudes can range from risk averse to risk seeking. The Reference is the Standard for Risk Management in Portfolios, Programs, and Projects, Page#8 The Situational factors of risk attitude :- 1-Level of relevant skills, knowledge, or expertise. 2- Perception of probability or frequency of occurrence. 3- Perception of impact magnitude, either severity of negative threats or size of positive opportunities. 4- Degree of perceived control or choice in the situation, Manageability is a key assessment of risk, and will influence the preferred risk attitude. 5- Closeness of the risk in time. 6- Potential for direct consequences.

    2. L

       Linkedin_Dario_Conde

       2024-11-22

       Selected B1 upvote

       Risk attitude is a disposition toward uncertainty, adopted explicitly or implicitly by individuals and groups, driven by perception, and evidenced by observable behaviour.

22. Question 22 of 25

    The risk manager organizes a stakeholder meeting to obtain agreement on project risk response strategies. At the conclusion of this meeting, the risk response strategies should be which of the following?

    • AScheduled, budgeted, and easy for project stakeholders to understand
    • BCost-effective, validated by Monte Carlo analysis, and assigned
    • CIterative, scaled to the project, and addressing threats and opportunities
    • DTimely, cost-effective, agreed-upon, and accepted

    Show answer

    Correct answer: D

    How others answered

    • D88%

    Explanation

    The correct answer is: D. Timely, cost-effective, agreed-upon, and accepted. The goal of a stakeholder meeting to discuss project risk response strategies is to reach consensus on a course of action that is timely, cost-effective, agreed-upon by all parties, and accepted as the best course of action for addressing the identified risks. It is important for the risk response strategies to be agreed-upon by all stakeholders to ensure that they are effectively implemented and to avoid conflicts or misunderstandings. It is also important for the strategies to be accepted by all stakeholders, as this will help to ensure their commitment to carrying out the agreed-upon actions and achieving the desired risk management outcomes.

    Adapted from community discussion by IBANGA007 · 2023-06-22 · 4 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 22 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. I

       IBANGA007

       2023-06-22

       Selected D4 upvotes

       The correct answer is: D. Timely, cost-effective, agreed-upon, and accepted. The goal of a stakeholder meeting to discuss project risk response strategies is to reach consensus on a course of action that is timely, cost-effective, agreed-upon by all parties, and accepted as the best course of action for addressing the identified risks. It is important for the risk response strategies to be agreed-upon by all stakeholders to ensure that they are effectively implemented and to avoid conflicts or misunderstandings. It is also important for the strategies to be accepted by all stakeholders, as this will help to ensure their commitment to carrying out the agreed-upon actions and achieving the desired risk management outcomes.

    2. R

       RoyalWarrior

       2023-09-13

       1 upvote

       Although answer C does seem feasible. Answer D seems like the better answer here. Risk responses should be appropriate, timely, cost-effective, feasible, achievable, agreed-upon, assigned and accepted. Any proposed risk response plan needs to be assessed against the following criteria: 1) Consistency with org values, project objectives, and stakeholder expectations; 2) Technical feasibility. 3) The ability of the team or risk action owners outside the project to carry out the corresponding actions 4) Balance between the overall impact of the response on the project objectives and the improvement in the risk profile of the project. Unless this is a meeting held during the Plan Risk Management process to decide on possible/acceptable risk response strategies on a high-level answer D seems more accurate the Answer C

    3. H

       hossam83

       2021-08-03

       3 upvotes

       D is the best answer according to the best practice standard book from pmi

    4. G

       guymartin

       2024-10-28

       1 upvote

       Selon Le PMBOK 6, Page 439 paragraphe 11.5 , les réponses aux risques doivent être adaptés à l'importance du risque, rentables par rapport au défi à relever, réaliste dans le contexte du projet, convenues par toutes les parties prenantes. Donc réponse D

23. Question 23 of 25

    The risk manager and the project team conduct a risk brainstorming session for a new project. The risk manager wants to involve the entire project team in a group risk prioritization exercise for the identified risks. The project manager refuses the involvement of the entire project team due to resource concerns. What should the risk manager do?

    • AConvince the project manager of the importance of the whole project team's involvement in the full risk process.
    • BContinue to involve the project team in the risk prioritization process and then discuss lessons learned with the project manager.
    • CFollow the project manager's instruction, as the project manager is the responsible party.
    • DInform the sponsor about the project manager's decision and the disagreement between parties.

    Show answer

    Correct answer: A

    Explanation

    Convince the project manager about the importance of the project team members in all risk management process. Everyone should be involved in the Project Risk Management process "risk management is everyone’s responsibility". It's a key success factor of risk management. The reference is the standard for risk management in portfolios, programs, and projects page#17.

    Adapted from community discussion by AllPMI · 2024-10-01 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 23 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. A

       AllPMI

       2024-10-01

       2 upvotes

       Convince the project manager about the importance of the project team members in all risk management process. Everyone should be involved in the Project Risk Management process "risk management is everyone’s responsibility". It's a key success factor of risk management. The reference is the standard for risk management in portfolios, programs, and projects page#17.

    2. A

       AllPMI

       2024-10-01

       1 upvote

       nvince the project manager about the importance of the project team members in all risk management process. Everyone should be involved in the Project Risk Management process "risk management is everyone’s responsibility". It's a key success factor of risk management. The reference is the standard for risk management in portfolios, programs, and projects page#17.

24. Question 24 of 25

    A mobile operator wants to test a new network prototype before conducting full implementation on the entire network. What type of risk response strategy did the mobile operator choose?

    • ATransfer
    • BMitigate
    • CAvoid
    • DAccept

    Show answer

    Correct answer: B

    How others answered

    • B100%

    Explanation

    In risk mitigation, action is taken to reduce the probability of occurrence and/or impact of a threat. An early mitigation action is often more effective than trying to repair the damage after the threat has occurred. Adopting less complex processes, conducting more tests, or choosing a more stable seller are examples of mitigation actions. Mitigation may involve prototype development to reduce the risk of scaling up from a bench-scale model of a process or product. Where it is not possible to reduce the probability, a mitigation response might reduce the impact by targeting factors that drive the severity. For example, designing redundancy into a system may reduce the impact of a failure of the original component. PMBOK6 page#443.

    Adapted from community discussion by AllPMI · 2024-10-01 · 2 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 24 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. A

       AllPMI

       2024-10-01

       2 upvotes

       In risk mitigation, action is taken to reduce the probability of occurrence and/or impact of a threat. An early mitigation action is often more effective than trying to repair the damage after the threat has occurred. Adopting less complex processes, conducting more tests, or choosing a more stable seller are examples of mitigation actions. Mitigation may involve prototype development to reduce the risk of scaling up from a bench-scale model of a process or product. Where it is not possible to reduce the probability, a mitigation response might reduce the impact by targeting factors that drive the severity. For example, designing redundancy into a system may reduce the impact of a failure of the original component. PMBOK6 page#443.

    2. H

       hossam83

       2022-08-03

       1 upvote

       mitigate is the model of prototype not avoid, avoid means eliminate or change

25. Question 25 of 25

    The risk manager for a data center infrastructure project performs a risk audit. Which of the following represents the primary goals of the audit?

    • AAssess performance of project team members and make required changes.
    • BDocument new risks identified and take the appropriate actions.
    • CAssess responsibilities of risks that have occurred and take the appropriate actions.
    • DDocument what went well and not so well with the risk management process, and recommend actions to improve.

    Show answer

    Correct answer: D

    Explanation

    D. Document what went well and not so well with the risk management process, and recommend actions to improve. Is better

    Adapted from community discussion by edusousa · 2024-02-13 · 3 community upvotes. Third-party contribution; reviewed by our quality filter, not independently verified.

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    Question 25 discussion

    These are quality-filtered excerpts from third-party community discussion. They can be useful reasoning signals, but they are not official answers and have not been independently verified by PMI-RMP or CertExamHQ.

    1. E

       edusousa

       2024-02-13

       3 upvotes

       D. Document what went well and not so well with the risk management process, and recommend actions to improve. Is better

    2. A

       ahmedSayis

       2024-11-24

       2 upvotes

       D. Document what went well and not so well with the risk management process, and recommend actions to improve.

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PMI-RMP practice, question 1 of 25