PMI Risk Management Professional Page 2(Dumps)

Question No:-11

A risk is identified and documented by the risk manager, but it is unclear how this risk can be proactively managed. In this situation, what type of reserve should be allocated for the risk?

  1. Contingency
  2. Management
  3. Budget
  4. Residual

Question No:-12

Which of the following is an effective channel for risk mitigation assistance, project risk visibility and risk escalation support?

  1. Project steering committee
  2. Project management office (PMO)
  3. Change control board (CCB)
  4. Board of directors

Question No:-13

The risk manager wants to determine what is to be measured, how it is to be measured, and what project outcomes are to be measured. In which of the following processes should this be established?

  1. Initiating Process
  2. Executing Process
  3. Planning Process
  4. Monitoring and Controlling Process

Question No:-14

Which of the following are examples of relevant data gathering tools?

  1. Risk response plan and interviews
  2. Questionnaires and historical data
  3. Work breakdown structure and historical data
  4. Work breakdown structure and interviews

Question No:-15

The risk manager is conducting stakeholder analysis. Which technique should be used to help identify and manage expectations?

  1. SWOT analysis
  2. Influence diagram
  3. Power/Interest Grid
  4. Interactive method

Question No:-16

What steps would be used during the qualitative risk analysis process to provide input to the risk register?
  1. Select risks characteristics, collect and analyze data, prioritize risks, categorize risks causes, document results
  2. Interviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results
  3. Interviews, expert opinions, risk manager review, prioritize risks, and document results
  4. Select risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results

Question No:-17

A project manager is hired as a consultant by the executive sponsor to manage a major change program that has experienced two past failures. The current executive sponsor believes the project is in good shape based on feedback from the last project manager and reports this to senior executive management. The executive sponsor believes there were no major risks threatening the time, budget, or quality of the project. In the first week of risk analysis, the project manager concludes the project timeline is unrealistic and is three months behind schedule. The organization's risk appetite is low.

What is the first step that should be taken?

  1. Review the project schedule and recommend fast tracking the schedule and/or crashing the critical path.
  2. Discuss the project schedule with the executive sponsor and agree on a strategy for updating the risk management plan and risk response plans.
  3. Update existing risk response plans and include more resources to get the project back on track.
  4. Immediately call a steering committee meeting, report the project status, and suggest project scope reductions to save time.

Question No:-18

During what process should a project manager assign a risk owner?

  1. Plan Risk Responses
  2. Plan Risk Management
  3. Monitor Risks
  4. Identify Risks

Question No:-19

A risk manager wants to determine which risks are going to have the highest impact on a project. Which of the following techniques should the risk manager use?

  1. Assumptions analysis
  2. Sensitivity analysis
  3. Root cause analysis
  4. Prioritization matrices

Question No:-20

Critical deliverables are delayed, because a key subject matter expert (SME) does not have enough time to allocate to the tasks. How could the situation be improved for the future?

  1. Cross train others to reduce the SME workload.
  2. Introduce scope reductions to limit the reliance on SMEs.
  3. Replace the SME with resources, who are responsible for receiving output from the SME on their deliverables.
  4. Extend the project schedule timeline to accommodate availability of the SME.