[Oct-2022 Newly Released] Pass PMI-RMP Exam - Real Questions and Answers
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Major Topics to Explore
The PMI-RMP certification exam contains five major domains to be covered. The candidates should develop a solid understanding of these topics before attempting the test. Let’s take a look at these exam objectives.
- Stakeholder Engagement (19-20%)
The second subject area measures the students’ understanding of risk management among the team members as well as their skills in training & coaching the stakeholders on important risk management processes and delivering training for the team members on how to apply risk management processes during the project. It also equips the applicants with the skills required to assess the stakeholder risk tolerance rates as well as identify any attitudes and biases to risks among the stakeholders and keep them enlightened on the prioritization of risks. The domain also provides the examinees with the knowledge of the recommendations they can give to the stakeholders on how to plan and strategize for risks, how they can communicate with the rest of the team, and how to keep the team members involved in the project through efficient communication.
- Risk Strategy & Planning (19-20%)
The tasks covered in this domain include evaluating risk and setting criteria for risk levels while assessing the tolerance of risk among the stakeholders. It also covers updating risk policies in the project; developing and recommending the appropriate risk strategies; providing a risk management plan; establishing criteria for the risk management process for the project.
- Risk Process Facilitation (25-28%)
The third section of the PMI-RMP certification exam teaches the test takers how to use the risk assessment processes by studying risk tolerance and coming up with projected risk levels. It also covers competency in identifying risks, evaluating identified risks, developing a workable response procedure, as well as creating a contingency reserve according to the risk exposure identified in the project. This area also covers the utilization of data to budget for risk management and utilization of staged scenarios to evaluate the appropriateness of responses.
- Performing Specialized Risk Analysis (14-16%)
The fifth objective focuses on performing specialized risk analyses, which cover the ability to execute the following tasks: monitoring different factors of risks within the project, analyzing the data collected, using the appropriate tools to assist in the stakeholder decision-making processes in regards to risk management.
- Risk Monitoring & Reporting (19-20%)
The fourth topic that the PMI-RMP exam deals with covers five tasks. This teaches you how to keep track of the risk management processes in a project by keeping an updated record of all the risk incidences and their responses. It also highlights how to work with a project manager through proper communication, monitoring the response metrics, and analyzing the performance of the proposed risk responses. The domain also covers how to keep the risk management plan updated during a project and how to capture and use lessons learned in risk management in the project.
NEW QUESTION 80
Shawn is the project manager of the WHT Project for his company. In this project Shawn's team reports that they have found a way to complete the project work for less cost than what was originally planned. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes to the project management plan accordingly. What type of risk response has been used in this instance?
- A. Avoidance
- B. Accepting
- C. Exploiting
- D. Enhancing
Answer: C
NEW QUESTION 81
Kelly is the project manager of the BHH project for her organization. She is completing the risk identification process for this portion of her project. Which one of the following is the only thing that the risk identification process will create for Kelly?
- A. Risk register
- B. Project document updates
- C. Risk register updates
- D. Change requests
Answer: A
NEW QUESTION 82
Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project stakeholders have completed a round of qualitative risk analysis. He needs to update the risk register with his findings so that he can communicate the risk results to the project stakeholders including management. Mark will need to update all of the following information except for which one?
- A. Prioritized list of quantified risks
- B. Trends in qualitative risk analysis
- C. Risks grouped by categories
- D. Watchlist of low-priority risks
Answer: A
NEW QUESTION 83
Neil works as a project manager for SoftTech Inc. He is working with Tom, the COO of his company, on several risks within the project. Tom understands that through qualitative analysis Neil has identified many risks in the project. Tom's concern, however, is that the priority list of these risk events are sorted in "high-risk,"
"moderate-risk," and "low-risk" as conditions apply within the project. Tom wants to know that is there any other objective on which Neil can make the priority list for project risks. What will be Neil's reply to Tom?
- A. Risks may be listed by the additional analysis and response
- B. Risks may be listed by categories
- C. Risk may be listed by the responses in the near-term
- D. Risks may be listed by priority separately for schedule, cost, and performance
Answer: D
NEW QUESTION 84
Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?
- A. Risk audit
- B. Earned value management
- C. Corrective action
- D. Technical performance measurement
Answer: C
NEW QUESTION 85
Pete works as a project manager for BlueWell Inc. The Management has told him that he must implement an agreed-upon contingency response if the cost performance index in his project is less than 0.90. Consider that Pete's project has a budget at completion of $275,000. His project is 65 percent complete and he has spent $175,000 to date. However, Pete is scheduled to be 78 percent complete. What is the cost performance index for this project to determine if the
contingency response should happen?
- A. 1.02
- B. 0.89
- C. 0.90
- D. 0.96
Answer: A
NEW QUESTION 86
You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?
- A. Qualitative risk analysis
- B. Quantitative analysis
- C. Rolling wave planning
- D. Historical information
Answer: A
NEW QUESTION 87
At the completion of a small project, the risk manager performs a risk audit and finds that several identified risks had occurred, and the impact was significantly larger than expected. While the project remained on schedule, the project budget increased by 50%. The project met all risk response milestones and no additional, previously unidentified risks, occurred on the project.
Based on this information, what risk management process improvement should the risk manager recommend for future similar projects?
- A. Increase frequency of risk management meetings with the project manager.
- B. Expand the use of risk identification techniques.
- C. Revise the level of accuracy of probability and impact scores.
- D. Document the risk audit report and capture it in the lessons learned database.
Answer: D
NEW QUESTION 88
You are the project manager for the ABC organization. Your current project has 75 internal stakeholders and 245 external stakeholders. Many of the risks within your project will only affect the internal stakeholders, but several of the identified risk events will affect the external stakeholders. Management would like to know the total number of communication channels in the project. How many communication channels exist in this project?
- A. 102,080
- B. 51,040
- C. 0
- D. 1
Answer: B
NEW QUESTION 89
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.
- A. Risk register
- B. Organizational process assets
- C. Project scope statement
- D. Cost management plan
Answer: A,B,C
NEW QUESTION 90
You are a risk auditor for your company. You are reviewing the contract types a project manager has used in her project. Of the following, which contract type has the most risk for the project manager as a buyer?
- A. Cost plus percentage of costs
- B. Cost plus incentive fee
- C. Time and material
- D. Fixed-price, incentive fee
Answer: A
NEW QUESTION 91
You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?
- A. Communications Management Plan
- B. Stakeholder management strategy
- C. Risk Management Plan
- D. Resource Management Plan
Answer: A
NEW QUESTION 92
Which of the following is a risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold?
- A. Mitigation
- B. Avoidance
- C. Exploit
- D. Transference
Answer: A
NEW QUESTION 93
You are the project manager of the BJA Project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000. Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time and cost additions to your project plan. What type of risk response is used?
- A. Mitigation
- B. Avoidance
- C. Exploit
- D. Acceptance
Answer: A
NEW QUESTION 94
You are the project manager for your organization and you are working with Thomas, a project team member.
You and Thomas have been working on a specific risk response for a probable risk event in the project.
Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?
- A. Risk expeditor
- B. Risk team leader
- C. Risk owner
- D. Risk coordinator
Answer: C
NEW QUESTION 95
When considering human factors and risk attitudes relative to the risk process, which approach should be used to influence the risk management process for optimal effects at the individual and group levels?
- A. Agile
- B. Reactive
- C. Proactive
- D. Ongoing
Answer: C
NEW QUESTION 96
ww Mary is a project manager in her organization. On her current project she is working with her project team and other key stakeholders to identify the risks within the project. She is currently aiming to create a comprehensive list of project risks so she is using a facilitator to help generate ideas about project risks. What risk identification method is Mary likely using?
- A. Delphi Techniques
- B. Brainstorming
- C. Expert judgment
- D. Checklist analysis
Answer: B
NEW QUESTION 97
You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events.
Which one of the following is NOT a document that will help you identify and communicate risks within the project?
- A. Risk register
- B. Stakeholder register
- C. Activity duration estimates
- D. Activity cost estimates
Answer: A
NEW QUESTION 98
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