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PMI-RMP Certification Torrent & PMI-RMP Reliable Exam Cram

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To be eligible for the PMI-RMP Certification Exam, applicants must have a minimum of three years of professional experience in project risk management and 30 hours of formal risk management education. PMI-RMP exam consists of 170 multiple-choice questions and takes four hours to complete. The test is computer-based and is offered at Pearson VUE testing centers around the world.

PMI-RMP certification is an excellent investment for professionals who want to advance their careers in project management. It demonstrates to employers that individuals have a deep understanding of risk management and can help organizations mitigate risks and achieve project success. PMI Risk Management Professional certification also provides networking opportunities with other certified professionals, which can lead to new job opportunities and career growth.

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Earning the PMI-RMP certification demonstrates an individual's commitment to the field of risk management and their ability to manage risk effectively. PMI Risk Management Professional certification is recognized globally and can lead to career advancement and increased earning potential. The PMI-RMP Certification is a valuable asset for individuals who want to differentiate themselves in the competitive field of project management and risk management.

PMI Risk Management Professional Sample Questions (Q80-Q85):

NEW QUESTION # 80
Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project. Which of the following answers best describes what Stephen should do with these risk events?

A. Because they are low probability and low impact, the risks can be dismissed.
B. The low probability and low impact risks should be added to a watchlist for future monitoring.
C. The low probability and low impact risks should be added to the risk register.
D. Because they are low probability and low impact, Stephen should accept the risks.

Answer: B

NEW QUESTION # 81
A project manager is working on a high priority and high profile project. The project team had identified 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. Determined risk triggers and thresholds in the risk response plan
B. Updated the project schedule, adding risk owner implementation tasks.
C. Increased communications to influence stakeholder risk responses
D. Provided regular training to the risk owners for plan implementation

Answer: B

Explanation:
The project manager should have updated the project schedule by adding risk owner implementation tasks.
This would have ensured that the planned risk responses were implemented in a timely manner and tracked as part of the project schedule. This would also have allowed the project manager to monitor the progress of risk response implementation and take corrective action if necessary.
According to the PMI-RMP Exam Content Outline and Specifications1, one of the tasks under Domain 4:
Risk Monitoring and Reporting is to "update project schedule, budget, and risk register with risk response outcomes". This implies that the project manager should have added the risk owner implementation tasks to the project schedule, so that they can be tracked and monitored. By doing so, the project manager could have ensured that the planned risk responses were executed as intended, and that the opportunities were not missed. References: PMI-RMP Exam Content Outline and Specifications, page 10.

NEW QUESTION # 82
A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.
What should the risk manager of the related project have done to prevent this situation from happening?

A. Reformed the risk monitoring and closing process properly.
B. Created the project work plan and budget more accurately.
C. Communicated better with the organization's CEO.
D. Educated the project team on budget change requests.

Answer: A

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)Handbook1, one of the domains of the PMI-RMP exam is Risk Monitoring and Reporting, which involves tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating risk process effectiveness throughout the project1. The risk manager of the related project should have reformed the risk monitoring and closing process properly to ensure that the contingency budget is only used for the intended risks and not for other purposes. The risk manager should have also communicated the status and outcomes of the risk activities to the relevant stakeholders, such as the functional manager and the CEO, to avoid any confusion or conflict over the budget allocation1. Reference: 1: PMI Risk Management Professional (PMI-RMP)Handbook, page 6.
The risk manager should have ensured a more accurate project work plan and budget to prevent the functional manager from requesting to use the project's contingency budget. A well-planned budget would have avoided the shortage in the functional manager's department budget.

NEW QUESTION # 83
A risk manager documents the causes in the risk register and needs to ensure the risk is adequately described.
What is critical for the risk manager to consider when describing the causes?

A. Each cause has well defined owner
B. The causes must be validated by the risk owner
C. Each cause has a degree of uncertainty
D. The causes represent actual conditions

Answer: D

Explanation:
Explanation
When describing the causes of a risk, it is critical for the risk manager to ensure that the causes represent actual conditions, as this will help in the accurate identification and assessment of the.
According to the PMBOK Guide, a risk is defined as "an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives" (page 720). A risk can be described by its causes, effects, and probability of occurrence. The causes are the factors or circumstances that give rise to the risk, and they should represent the actual conditions that exist or may exist in the project environment. The causes should not be based on assumptions, opinions, or speculations, but on facts, evidence, or data.
Therefore, option C is the correct answer.
Option A is incorrect because not every cause has a degree of uncertainty. Some causes may be certain or deterministic, such as contractual obligations, regulatory requirements, or physical laws. Uncertainty is a characteristic of the risk itself, not the cause.
Option B is incorrect because not every cause has a well-defined owner. The owner is the person or entity who is assigned the responsibility and authority to manage the risk, not the cause. The owner should be identified after the risk is analyzed and prioritized, not before.
Option D is incorrect because the causes do not need to be validated by the risk owner. The risk owner is the person or entity who is accountable for the risk response, not the risk identification. The causes should be validated by the risk manager or the risk identification team, who are responsible for collecting and documenting the risk information.

NEW QUESTION # 84
In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.
What should the risk manager do?

A. Assign a risk owner and set it as high priority and high impact.
B. Update the risk register accordingly and review it in regular project meetings.
C. Accept the risk because residual risks are often low.
D. Ask a subject matter expert (SME) to assess the residual risk and take action.

Answer: D

Explanation:
Decision tree analysis is a technique that uses a graphical representation of various possible outcomes and consequences of different courses of action, based on their probabilities of occurrence and associated payoffs or costs. It can help the project team to compare and evaluate the alternatives and choose the optimal one. In this case, the risk manager should use decision tree analysis to help the team members predict the outcomes of their potential choices following their probability of occurrence. Political, economic, social, technological, legal, and environmental (PESTLE) analysis, strengths, weaknesses, opportunities, and threats (SWOT) analysis, and cost-benefit analysis are not techniques that can directly help the team members to predict the outcomes of their potential choices following their probability of occurrence, and are therefore not the best answer. Reference: PMI Risk Management Professional (PMI-RMP)Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)Cert Guide3

NEW QUESTION # 85
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