TOP RELIABLE PMI-RMP EXAM LABS | HIGH PASS-RATE LATEST PMI-RMP TEST COST: PMI RISK MANAGEMENT PROFESSIONAL 100% PASS

Top Reliable PMI-RMP Exam Labs | High Pass-Rate Latest PMI-RMP Test Cost: PMI Risk Management Professional 100% Pass

Top Reliable PMI-RMP Exam Labs | High Pass-Rate Latest PMI-RMP Test Cost: PMI Risk Management Professional 100% Pass

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PMI Risk Management Professional Sample Questions (Q16-Q21):

NEW QUESTION # 16
A complex project that had hundreds of risks is almost done. The project manager is closing the risks as part of the closing process. One team member mentions that there are important documents to be updated.
Which document will need to be updated?

  • A. Risk register
  • B. Issue log
  • C. Contingency register
  • D. Lessons learned

Answer: D

Explanation:
When closing risks as part of the closing process, it is important to update the lessons learned document. This document captures the knowledge and experience gained during the project and can be valuable for future projects.
Lessons learned is a document that captures the knowledge gained from the project and can help improve the performance of future projects. It is one of the outputs of the project closure process and should include information on the project risks, issues, and responses. Lessons learned can help identify the best practices and lessons to be applied or avoided in similar projects. Updating the lessons learned document is an important part of closing the risks as it can provide valuable insights for risk management. References: PMI, Project Risk Management, 2nd edition, 2019, p. 97-981


NEW QUESTION # 17
You are the project manager of your organization. Your organization will receive a bonus if the project finishes by December 20. Management has communicated this bonus to you and your project team and has asked you to evaluate the project to see if it is possible to realize the reward. The bonus offered to your organization is $750,000. You have examined the project and believe that you can crash the project for an additional $275,000 and reach the December 20 date. Management is thrilled with your assessment and they approve the crash fee. What risk response is this?

  • A. Crashing can be a type of the enhancing risk response.
  • B. Crashing can be a type of the exploit risk response.
  • C. Crashing is the addition of labor, not a risk response.
  • D. Crashing can be considered transference because of the $275,000 is actually paid from the bonus, which is paid by the project customer.

Answer: A


NEW QUESTION # 18
While implementing the risk response plan for a previously identified risk, some secondary risks were identified but not captured on the risk register. The project manager decided to review the risk management plan to ensure this does not happen for future, similar situations.
What should the project manager do next?

  • A. Monitor and control secondary and residual risks in the risk register.
  • B. Update the communications management plan to avoid future issues
  • C. Develop risk response plans for all identified risks.
  • D. Identify secondary or residual risks for associated risk plans.

Answer: D

Explanation:
The project manager should monitor and control secondary and residual risks in the risk register. This will ensure that any new risks identified during the implementation of the risk response plan are captured and managed effectively. Monitoring and controlling risks is a continuous process that helps in identifying, analyzing, and planning for new risks as well as updating the risk register as needed.
According to the PMI Risk Management Professional (PMI-RMP)®Examination Content Outline, one of the tasks under the domain of Risk Response Planning is to "identify and assess the effectiveness of alternative strategies to reduce threats or enhance opportunities, such as mitigation, transference, avoidance, and acceptance" 1. This implies that the project manager should also consider the potential secondary or residual risks that may arise from implementing the chosen risk response strategy. Secondary risks are new risks that are created as a direct result of implementing a risk response, while residual risks are those that remain after therisk response has been executed 2. Both types of risks should be identified and assessed for their impact and probability, and added to the risk register for further monitoring and control. Therefore, the correct answer is A.
References: 1: PMI Risk Management Professional (PMI-RMP)® Examination Content Outline, page 91 2:
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, page 4362


NEW QUESTION # 19
There are five outputs of the risk monitoring and controlling process. Which one of the following is NOT an output of the process?

  • A. Vendor contracts
  • B. Risk register updates
  • C. Organizational process assetsupdates
  • D. Change requests

Answer: A


NEW QUESTION # 20
What quantitative tools and techniques are used to perform risk analysis in order to support stakeholder decision making for the project?

  • A. Risk probability and impact assessment
  • B. Sensitivity analysis
  • C. Interviewing
  • D. Probability and impact matrix

Answer: C


NEW QUESTION # 21
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