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PMI-RMP Exam covers various aspects of risk management, including risk planning, risk identification, risk analysis, risk response planning, and risk monitoring and control. PMI-RMP exam is based on the PMI’s Guide to the Project Management Body of Knowledge (PMBOK Guide) and the Practice Standard for Project Risk Management. It is a rigorous exam that requires extensive preparation, which includes studying the PMBOK Guide and the practice standard, taking practice exams, and participating in training programs. Upon passing the exam, individuals will earn the PMI-RMP Certification, which is recognized globally and demonstrates their proficiency in risk management.
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PMI-RMP exam is a certification exam designed for professionals who specialize in risk management. PMI-RMP Exam covers various aspects of risk management and is recognized globally. PMI Risk Management Professional certification provides numerous benefits, including enhanced credibility, professional standing, and access to a global network of professionals. PMI Risk Management Professional certification is an excellent opportunity for project management professionals who want to specialize in risk management and take their career to the next level.
PMI Risk Management Professional Sample Questions (Q53-Q58):
NEW QUESTION # 53
A high-profile, high-priority project within your organization is being created. Management wants you to pay special attention to the project risks and do all that you can to ensure that all of the risks are identified early in the project. Management has to ensure that this project succeeds. Management's risk aversion in this project is associated with what term?
Answer: A
NEW QUESTION # 54
A risk manager on an infrastructure project gathers and analyzes performance data. The risk manager wants to identify which variables will impact the schedule and determine how these factors interact.
Which data analysis tool should the risk manager use to forecast future performance?
Answer: C
Explanation:
Regression analysis is a data analysis tool that helps identify variables that impact the schedule and determine how these factors interact. It is used to forecast future performance based on historical data and the relationship between variables. (Reference: PMBOK Guide, 6th Edition, p. 248) According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, regression analysis is a data analysis tool that examines the relationship between one or more independent variables and a dependent variable1. Regression analysis can be used to forecast future performance based on historical data and trends2. In this case, the risk manager wants to identify which variables will impact the schedule (the dependent variable) and determine how these factors interact (the independent variables). Therefore, the risk manager should use regression analysis to create a mathematical model that can predict the schedule performance based on the values of the variables. Regression analysis can also help the risk manager to assess the significance and strength of the relationship between the variables and the schedule3.
References: 1: PMI, A Guide to the Project Management Body of Knowledge (PMBOKGuide), Sixth Edition, 2017, p. 720 2: PMI, Practice Standard for Project Risk Management, 2009, p. 95 3: Tips and Tricks for Passing the Risk Management Professional (PMI-RMP ...
NEW QUESTION # 55
A project manager has finished the project charter for a project and has now moved into the planning phase. In the first planning meeting, the project manager is trying to determine the risk tolerance and risk attitudes of the project's key stakeholders.
What is the first resource the project manager should reference?
Answer: B
Explanation:
Explanation
The project charter is the first resource the project manager should reference to determine the risk tolerance and risk attitudes of the project's key stakeholders, as it contains information such as the project purpose, objectives, success criteria, high-level risks, and key stakeholder list. The project charter is an output of the Develop Project Charter process, which is part of the Initiating process group. The project charter provides the project manager with the authority to apply organizational resources to project activities and establishes a partnership between the performing organization and the requesting organization. References: PMBOK Guide,
6th edition, page 81-82.
Enterprise environmental factors (EEFs) provide information about the organization's culture, risk tolerance, and risk attitudes, which can help the project manager determine the risk tolerance and risk attitudes of the project's key stakeholders. (Reference: PMBOK Guide, 6th Edition, p. 39)
NEW QUESTION # 56
The project's customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?
Answer: D
Explanation:
Explanation
The project manager should mitigate risks identified on the sensitivity analysis to ensure the P90 date is met.
Sensitivity analysis helps identify the most critical risks that have the potential to impact the project's completion date. By mitigating these risks, the project manager can increase the likelihood of meeting the P90 date.
NEW QUESTION # 57
One project in a program needs to be completed in 6 months because there is a large bonus for early completion. Consequently, the program manager transfers all resources to this project and arranges for employees to receive overtime pay.
Which risk response strategy is the program manager using in this scenario?
Answer: B
NEW QUESTION # 58
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