WHY CHOOSE VCE4DUMPS PMI PMI-RMP EXAM QUESTIONS?

Why Choose VCE4Dumps PMI PMI-RMP Exam Questions?

Why Choose VCE4Dumps PMI PMI-RMP Exam Questions?

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The software is designed for use on a Windows computer. This software helps hopefuls improve their performance on subsequent attempts by recording and analyzing PMI Risk Management Professional (PMI-RMP) exam results. Like the actual PMI PMI-RMP Certification Exam, PMI Risk Management Professional (PMI-RMP) practice exam software has a certain number of questions and allocated time to answer.

PMI Risk Management Professional Sample Questions (Q72-Q77):

NEW QUESTION # 72
A core project team is working on unrelated tasks in advance to reduce the risk of delay due to an external team not completing its tasks on time. The core project team has completed all possible unrelated tasks but cannot move forward, because the external team's tasks have yet to be completed.
What should the risk manager do next?

  • A. Ask the risk owners to review the risk response plan.
  • B. Transfer the risk to the external team.
  • C. Crash the schedule to mitigate the risk consequences.
  • D. Start a quantitative analysis to understand the impact.

Answer: A

Explanation:
According to the PMBOK Guide, the risk response plan is the set of actions that the project team will take to address the identified risks. The risk response plan should be reviewed and updated periodically throughout the project lifecycle, as new risks may emerge or existing risks may change. The risk owners are the persons assigned the responsibility of monitoring the risks and implementing the risk response actions. The risk owners should work with the risk manager and other stakeholders to evaluate the effectiveness of the risk response plan and make any necessary adjustments. In this case, the risk manager should ask the risk owners to review the risk response plan and see if there are any alternative or additional actions that can be taken to deal with the delay caused by the external team. Starting a quantitative analysis, crashing the schedule, or transferring the risk are not appropriate actions for this situation, as they are either too late, too costly, or too risky. Reference: = PMBOK Guide, 6th edition, pages 452-453; The Standard for Risk Management in Portfolios, Programs, and Projects, page 79.


NEW QUESTION # 73
A two-year project with a budget of US$2 million has completed about 60% of the work at the end of the first year. The actual cost incurred to complete the remaining 40% of work is about USS1.5 million. As a part of performing a specialized risk analysis, the calculated schedule performance index (SPI) is 1.2 and cost performance index (CPI) is 0.53.
How should the risk manager interpret such a low CPI value?

  • A. The actual reported costs are inaccurate.
  • B. The cost baseline is inaccurate.
  • C. The cost control processes is ineffective.
  • D. The cost related risks are effectively managed.

Answer: B

Explanation:
A low CPI value (0.53) indicates that the project is over budget. This may be due to an inaccurate cost baseline, which means the initial budget estimation was not correct. This would not necessarily mean that cost control processes are ineffective, actual reported costs are inaccurate, or cost-related risks are effectively managed.
The CPI value is calculated by dividing the earned value (EV) by the actual cost (AC). A CPI value of less than 1 indicates that the project is over budget, meaning that the actual cost is higher than the planned cost. A low CPI value can have several possible causes, such as poor estimation, scope creep, change requests, or inaccurate reporting. However, in this case, the SPI value is greater than 1, which indicates that the project is ahead of schedule, meaning that the earned value is higher than the planned value. This suggests that the cost baseline, which is derived from the planned value, is inaccurate and does not reflect the true cost of the work. Therefore, the risk manager should interpret such a low CPI value as a sign of an inaccurate cost baseline, and not as a result of ineffective cost control processes, inaccurate actual costs, or effective cost related risk management. Reference: PMI-RMP Certification Handbook1, page 9; PMBOKGuide, page 267.


NEW QUESTION # 74
Which of the following describes a difference between qualitative and quantitative risk analysis?

  • A. Quantitative risk analysis addresses individual risks descriptively; qualitative risk analysis predicts likely project outcomes based on combined effects of risks.
  • B. Qualitative risk analysis addresses individual risks descriptively; quantitative risk analysis predicts likely project outcomes based on combined effects of risks.
  • C. Quantitative risk analysis adds to the risk register, qualitative risk analysis leads to quantitative risk analysis.
  • D. Quantitative risk analysis prioritizes individual risks for subsequent treatment, qualitative risk analysis leads to quantitative risk analysis.

Answer: B


NEW QUESTION # 75
Frances is the project manager of a project in her organization. This project has a budget of $567,000 and is schedule to last for three years. Frances wants to examine the risk events to determine which risk events have the most potential impact on the project. Which modeling technique can help Frances to accomplish this goal?

  • A. Quantitative risk analysis
  • B. Expected monetary value
  • C. Modeling and simulation
  • D. Sensitivity analysis

Answer: D


NEW QUESTION # 76
During project execution, a project manager invites the stakeholders to a risk review meeting. During this meeting, a vendor highlights that the mitigation plan for a schedule risk has generated an additional risk.
What should the risk manager do first?

  • A. Plan responses for the new risk.
  • B. Passively accept the new risk.
  • C. Add the new risk to the watch list.
  • D. Update the new risk in the risk register.

Answer: D

Explanation:
The risk manager should first update the risk register with the new risk identified by the vendor. This will help in keeping track of all the risks associated with the project and facilitate the subsequent planning and management of the risks.
The risk manager should update the new risk in the risk register, which is a project document that records the details of all identified risks, including their description, category, cause, probability, impact, and response strategy. Updating the risk register is the first step to acknowledge the existence of the new risk and to document its characteristics and potential effects on the project objectives. The risk register can then be used as an input for the Plan Risk Responses process, where the risk manager can develop appropriate actions to address the new risk. References: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 397, 441.


NEW QUESTION # 77
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