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PMI-RMP Exam Simulator & PMI-RMP Materials

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PMI Risk Management Professional Sample Questions (Q221-Q226):

NEW QUESTION # 221
Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?

A. Perform qualitative analysis
B. Perform quantitative analysis
C. Risk identification
D. Risk Breakdown Structure creation

Answer: A

NEW QUESTION # 222
A risk manager reviews a Monte Carlo schedule risk analysis model before sharing the results with the project manager. The risk manager notices that activity correlations were not included in the model.
What is an effect of adding the correlation to the model?

A. Allows more risks to be included in the model.
B. Reduces the project completion duration.
C. Increases the probability of correlated activities finishing on time.
D. Increases the standard deviation of the model.

Answer: D

Explanation:
Explanation
Adding correlation to the model accounts for the relationship between activities, which can result in increased variability in the model's outcomes. This will increase the standard deviation, which is a measure of the uncertainty in the model.

NEW QUESTION # 223
You are the project manager of the NNH project. In this project you have created a contingency response that the cost performance index should be less than 0.93. The NHH project has a budget at completion of $945,000 and is 45 percent complete - though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone.
What is the project's cost performance index?

A. 0.92
B. 1.06
C. -$30,647
D. 0.93

Answer: D

NEW QUESTION # 224
A project manager running a high risk rating project was just informed that one of the key project resources has decided to leave the organization. The project manager previously identified this as a risk and had created a transition plan to enable another resource to carry out the same duties. The project manager was informed that by transitioning the responsibilities to the new resource, new risks to the completion dates of other project related tasks appear.
What should the project manager do next regarding the new risks?

A. Escalate the new risks immediately to the project stakeholders to ensure proper risk communication is in place.
B. Address these secondary risks as per the risk management plan.
C. Apply a risk acceptance strategy to the new risks as there is no risk response plan.
D. Update the risk management plan with the new probability/impact and change the response.

Answer: B

Explanation:
Explanation
The project manager should follow the risk management plan to address the new secondary risks that have emerged due to the transitioning of responsibilities to the new resource.

NEW QUESTION # 225
You work as a project manager for BlueWell Inc. You are performing the quantitative risk analysis for your project. One of the project risks has a 50 percent probability of happening, and it will cost the project $55,000 if the risk happens. What will be the expected monetary value of this risk event?

A. Negative $55,000
B. Negative $26,000
C. Zero - the risk event has not yet occurred
D. Negative $27,500

Answer: D

NEW QUESTION # 226
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