PMI-RMPPreview

A project risk manager is concerned about the low performance of risk management on a mission-critical project. After assessing the situation, the risk manager finds that the communication style may be the main contributor.
What could the project risk manager do to adjust the approach to influence team members to improve performance?

A project's risk manager successfully implements the risk management plan and the risk register. Furthermore, the risk analysis and the risk response planning are finalized. All results have been documented, and the project management plan and other project documents have been updated accordingly.
What should the risk manager do next?

Which of the following success factors will enhance the Perform Qualitative Risk Analysis process as the risk occurrence gets closer?

A project team member identifies, but does not document, a risk early in the project, because it is considered to be trivial. This risk occurs later and negatively impacts the project.
What could the project manager do to avoid this situation?

A project in the execution phase at the customer's site has an issue concerning new parts that do not fit properly into a machine. The site project manager cannot find this high probability risk in the risk register.
What action should the site project manager take?

Which of the following represents the best description of the role of project manager for project risk management?

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?

For the last several months, a project manager for a global technology program is focused on improving the project outsourcing process and analyzing the vendor supply chain as key pieces of the cost containment strategy. Early in the project, these two areas were identified as key risks to the final delivery of the project.
Since that initial risk identification, the risk manager works to identify additional risks, as well as analyze the potential impact to the project cost baseline. After performing a cost-risk sensitivity analysis, the risk manager produces this chart.

A risk manager is assigned to a short-term telecommunications upgrade project. This project is not technically complex, but has rigorous implementation timelines, and very little cost reserve available to address potential problems. The project manager indicates that completing the project on time is critical, but should not be done at the expense of performance.
Which aspect of risk impact is most important when designing the risk impact scale?

A risk manager works with the project team, senior management team, subject matter experts and other stakeholders to identify the project risks. Which of the following tools/methods from the risk management plan can be used to identify a risk, which is based on project objectives by category?

As a result of the Control Risk process, the project manager updates the project risk documents using outcomes from which of the following?

The risk manager is prioritizing risks based on the potential impact to cost and schedule and identifies the following 4 risks:
Risk 1 has a US$500,000 potential cost increase, and a 60 day potential schedule slippage, with a 25% probability of occurring.
Risk 2 has a US$200,000 potential cost increase, and a 20 day potential schedule slippage, with a 60% probability of occurring.
Risk 3 has a US$1,200,000 potential cost increase, and a 90 day potential schedule slippage, with a 10% probability of occurring.
Risk 4 has a US$600,000 potential cost increase, and a 70 day potential schedule slippage, with a 20% probability of occurring.
Using expected monetary value calculation, which risk has the greatest potential impact to cost and schedule?

The expected monetary value of a project is above USS1 million. The risk manager is concerned about this situation, and decides to review the related plans and processes to evaluate the degree of variation from the baseline. Next, the risk manager needs to document the results of such an analysis.
What is the best document for the project manager to reference to find out where the results of such an analysis should be documented?

The project manager requests a method to analyze risk data in a simple format. Which of the following formats should the risk manager suggest for preliminary review of the data?

A newly assigned project manager is reviewing the project documents with stakeholders to identify opportunities that will fast track the project and realize the financial benefits of early completion. What document should be updated at the end of the review?

The feasibility of the risk management planning is dependent upon which of the following aspects of the organization?

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

The team has just completed a risk response planning session and identified responses for all the high and medium priority risks. What should the team do with the remaining low priority risks?

PESTLE, TECOP, and SPECTRUM are three examples of prompt lists that can be used during risk management activities. Prompt lists are used to do which of the following?

During a major project review, the project manager discovers that large groups of internal management issues are obstructing progress. In reviewing the risk management plan, the project risk categories largely contain technical and customer relationship type risks. The project manager wants the risk management plan revised to account for these risk areas, particularly because the project has several more months before completion.
Who should the project manager collaborate with to revise the risk management plan at this stage of the project?