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PMI-RMP certification is an excellent option for individuals who want to demonstrate their expertise in risk management and advance their careers in project management. PMI Risk Management Professional certification is globally recognized and provides candidates with the knowledge and skills they need to effectively manage risks in projects. With the PMI-RMP Certification, professionals can enhance their job prospects, increase their earning potential, and make a meaningful impact on their organizations.

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PMI Risk Management Professional Sample Questions (Q181-Q186):

NEW QUESTION # 181
A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.
What will be the main output of this meeting?

A. Evaluating the project's impact
B. Evaluating the project's probability of success
C. Performing a qualitative analysis
D. Identifying threats and opportunities

Answer: D

Explanation:
The main output of the stakeholder meeting in the initiation phase is to identify threats and opportunities that may impact the project in a positive or negative way. This information will be used to develop the risk management plan.
The meeting that the project stakeholders are invited to in the initiation phase is part of the Identify Risks process. The purpose of this process is to identify the risks that may affect the project objectives in a positive or negative way, and to document their characteristics. The main output of this process is the risk register, which is a document that contains the list of identified risks, their causes, potential responses, and other relevant information. The risk register is an essential input for the subsequent risk management processes, such as Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor Risks. Therefore, the correct answer is B. Identifying threats and opportunities. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 79-80, 86-87.

NEW QUESTION # 182
You work as the project manager for Bluewell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decide, with your stakeholders' approval, to fast track the project work to get the project done faster. When you fast track the project, what is likely to increase?

A. Risks
B. Human resource needs
C. Costs
D. Quality control concerns

Answer: A

Explanation:
Explanation/Reference:

NEW QUESTION # 183
A risk manager is reviewing documentation for a project following a risk planning workshop with project stakeholders and team members. Several items have been identified on the risk log that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur.
Which response should the risk manager recommend for these risk items?

A. Exploit
B. Enhance
C. Accept
D. Mitigate

Answer: C

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)®Examination Content Outline1, one of the tasks in the domain of Risk Response is to recommend risk response strategies based on the risk appetite and tolerance of the organization and stakeholders1. One of the strategies for negative risks or threats is risk acceptance, which involves acknowledging the existence of a threat and making a conscious decision to accept it without taking any action2. In this scenario, the risk manager should recommend risk acceptance for the risk items that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur. Risk acceptance is appropriate when the risk exposure is low, the cost of other responses is high, or the risk response is outside the scope or influence of the project3. The risk manager should not recommend risk mitigation, which involves reducing the probability and/or impact of a threat2. The risk manager should not recommend risk enhancement, which is a strategy for positive risks or opportunities, not negative risks or threats2. The risk manager should not recommend risk exploitation, which is also a strategy for positive risks or opportunities, not negative risks or threats2. References: 1: PMI Risk Management Professional (PMI-RMP)®Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 4363: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 437.

NEW QUESTION # 184
Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy's organization will receive a bonus of $80,000 per day that the project is completed early up to $800,000. Tracy realizes that there are several opportunities within the project to save on time by crashing the project work. Crashing the project is what type of risk response?

A. Transference
B. Exploit
C. Enhance
D. Mitigation

Answer: C

NEW QUESTION # 185
An agriculture government agency faces different challenges with farmers and landlords In implementing its ambitious growth strategy. The agency decided to establish an enterprise risk management unit to identify risks, analyze risks, and provide a handbook showing how to handle the surrounding uncertainty.
What should the risk management expert recommend the agency do first to identify risks and develop the handbook?

A. Follow standard risk Identification tools dedicated for agriculture and tailor them to the environment.
B. Prepare a list of the key resources that will be used to compile a risk management plan.
C. Conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks.
D. Hire an agriculture expert who can develop the required handbook and discuss it with the agriculture minister.

Answer: C

Explanation:
According to the PMBOKGuide1, risk identification is the process of determining which risks may affect the project and documenting their characteristics. It involves the use of various techniques to gather information from different sources and perspectives, such as stakeholders, experts, historical data, assumptions, and environmental factors. Some of the common techniques for risk identification are meetings, facilitated workshops, interviews, brainstorming, checklists, questionnaires, SWOT analysis, and root cause analysis. These techniques help to elicit the knowledge and opinions of the participants, and to generate a comprehensive list of potential risks that can be further analyzed and prioritized. In this case, the risk management expert should recommend the agency to conduct meetings, facilitated workshops, and interviews with stakeholders to identify potential risks and develop the handbook. This will help to understand the context and objectives of the agency, the expectations and concerns of the farmers and landlords, the challenges and opportunities in the agriculture sector, and the possible sources and impacts of uncertainty. The risk management expert can then use the information gathered from these techniques to create a risk register and a risk management plan, which can form the basis of the handbook. This is part of the Identify Risks process in the PMBOKGuide1. Reference: 1: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition Engaging stakeholders through meetings, workshops, and interviews is crucial for risk identification, as it allows the agency to gather diverse perspectives and insights on potential risks. This approach is more effective than relying solely on standard tools or hiring an expert.

NEW QUESTION # 186
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