Candidates with superior risk management abilities are also recommended to execute a specialized job matched to the needs of a project environment that is becoming increasingly global, virtual, and complicated. The sole aim of the PMI Risk Management Professional (PMI-RMP) ® Certification exam is to demonstrate the ability to identify and assess project risks, mitigate threats, and seize opportunities. In this case, applicants strengthen and defend the organization’s needs.
Take the PMI RMP test and track your progress as you prepare for the PMI certification exam. With these RMP exam questions, you may simplify your learning process and test yourself on project management principles. Today, use this sample test to weed out the project management areas!
1. The implementation of which one of the following processes decreases the risk of project failure?
A. Manage stakeholder engagement
B. Control stakeholder engagement
C. Plan stakeholder management
D. Develop stakeholder engagement
Proper Management of Stakeholder Engagement will increase the success of the project
2. Project team A has been hired to manage a transportation project similar to dozens of projects they’ve worked on successfully in the past. The team has determined that the probability of achieving project objectives is 94%. The team has selected the size of contingency reserves that may be needed. These determinations are included in which process?
A. Qualitative risk analysis
B. Risk response planning
C. Quantitative risk analysis
D. Risk identification
The quantitative risk analysis process deals with numerically analyzing the risks on the overall project objectives.
3. Your project requires that you install about 175 personal computers. The vendor offers you a 20% discount on the essential software if your company buys 200 or more personal computers as part of the year-end sales promotion campaign. You communicate this offer with other functions across the organization so that your project can save a significant amount of money. What is the risk response strategy you are trying to adopt?
B. Exploit for a positive risk
D. Sharing benefits with others
The strategy adopted is exploitation for a positive risk
4. During risk response planning, the team is discussing ways to deal with risk. They have come up with the options: a) outsourcing the work, b) providing more training to the team members, c) waiting to see if the risk happens, d) ignoring the risk e) doing the task that has the risk sooner in the project and, f) transfer it to the program level. Which of the following is a possible risk response strategy that was forgotten in the above exercise?
A. Remove the task causing the risk from the project
B. Purchase insurance to cover the anticipated cost
C. Assign the task to a more experienced person to handle
D. Prototype the product
Avoidance is one of the risk response strategies for negative risks, and the project team did not cover it. Avoidance relates to entirely remove the task causing the risk from the project.
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5. You are a project manager for a US $3,000,000 product development project. Your project is well into the execution phase and remains on time, on budget, and specification. This morning, a project team member alerts you to a newspaper article detailing unusually high defect rates in materials used by your team to develop your product prototype. You had no reason to suspect quality issues in these materials before this reporting. What should you do FIRST in response to this?
A. Stop work on the prototype
B. Document and quantify the risk
C. Develop a risk mitigation plan
D. Determine a workaround
Documenting and quantifying risk in terms of its impact on the project is the first thing to do.
6. A lead is the amount of time a successor activity can be advanced concerning a predecessor activity, whereas a Lag is:
A. The amount of time a predecessor activity can be delayed concerning a successor activity
B. Same as lead, and it is only used when there are enough time buffers
C. It involves additional cost due to idling of resources
D. The amount of time a successor activity can be delayed concerning a predecessor activity
It is the definition for Lag. Refer to Glossary.
7. The three ‘I’s’ of stakeholders are?
A. Independence, influence and inquiry
B. Importance, inquiry, and influence
C. Interest, influence, and importance
D. Influence, inquiry, and importance
Interest, influence, and importance are related to the Project Stakeholder Management Knowledge Area.
8. What are the outputs of the Risk Identification process?
A. List of prioritized risks, residual risks, secondary risks, triggers, and inputs to other processes
B. Change requests, triggers, and inputs to other processes
C. Risk management plan, triggers, secondary risks, residual risks, and inputs to other processes
D. List of identified risks, triggers, potential risk owners, and inputs to other processes
The risk register is the output of Identify Risks process. In the risk register list of identified risks, triggers, potential risk owners, and input to other methods are recorded.
9. Extensive use of _____ communication is most likely to aid in solving complex problems.
Written communication helps the project manager and the team members to avoid ambiguity and also serves as a legal document
10. The CPI of a project is 0.60, and the SPI is 0.71. The project has 625 tasks and is being completed over four years. The team members are very inexperienced, and the project received little support for proper planning. Which of the following is the BEST thing to do?
A. Update the risk identification and analysis
B. Spend more time improving the cost estimates
C. Remove as many risks as possible
D. Reorganize the responsibility matrix
The project is behind schedule and above budget. It is advisable to update the risk identification and analysis
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