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PMI Risk Management Professional Sample Questions (Q88-Q93):

NEW QUESTION # 88
You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy's concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks that have low probability and low impact for future reference. What should you tell Nancy?

Answer: B


NEW QUESTION # 89
A home solar panel project has many internal and external stakeholders including households, businesses, community groups, electric utility companies, local government officials, landlords, and investors. What should the project manager do when engaging stakeholders?

Answer: C

Explanation:
The project manager should consider stakeholders' positions and opinions regarding the project's output when engaging stakeholders. This approach helps to address stakeholders' concerns, expectations, and potential objections, and it can lead to better decision-making and more successful project outcomes. It is important for the project manager to maintain open communication with stakeholders and to be responsive to their needs and perspectives.
According to the PMI Risk Management Professional (PMI-RMP)Examination Content Outline, one of the tasks under the domain of stakeholder engagement is to "engage stakeholders by communicating with them to understand their positions and opinions regarding the project's output, and to ensure that their interests are considered in the risk management process" (Task 1.3). This implies that the project manager should consider stakeholders' perspectives and expectations when engaging them, and not ignore, exclude, or impose on them. Therefore, option D is the correct answer.
Option A is incorrect because not all stakeholders need to be involved in the project's governance, which is the set of policies, processes, and procedures that define how the project is managed and controlled. The project's governance should be determined by the project sponsor and the project management office (PMO), and only include those stakeholders who have authority and responsibility for the project's success.
Option B is incorrect because communicating response strategies to all stakeholders is not a stakeholder engagement activity, but a risk communication activity. The project manager should communicate response strategies to the relevant stakeholders who are assigned to implement or monitor them, and not to all stakeholders indiscriminately.
Option C is incorrect because ignoring any risks beyond stakeholders' tolerance is not a stakeholder engagement activity, but a risk attitude activity. The project manager should identify and assess all risks that may affect the project's objectives, regardless of stakeholders' tolerance levels. The project manager should also consult with stakeholders to determine their risk appetite, threshold, and attitude, and use this information to prioritize and respond to risks accordingly.


NEW QUESTION # 90
Which of the following is a risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold?

Answer: D


NEW QUESTION # 91
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: C

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.
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the P90 date is the date that has a 90% probability of being met or exceeded by the project completion1. The Monte Carlo analysis is a simulation technique that generates possible outcomes of the project schedule based on the probability distributions of the activity durations2. The sensitivity analysis is a technique that determines how different sources of uncertainty affect the project objectives, such as the completion date3. Therefore, the project manager should mitigate the risks identified on the sensitivity analysis, as they are the most likely to affect the P90 date. By reducing the uncertainty and variability of the project schedule, the project manager can increase the confidence level of meeting the P90 date.
References: 1: PMI, Practice Standard for Project Risk Management, 2009, p. 91 2: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 215 3: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 403


NEW QUESTION # 92
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.

Answer: B,C,D


NEW QUESTION # 93
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