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PMI Risk Management Professional Sample Questions (Q137-Q142):

NEW QUESTION # 137
A risk management professional is in the process of categorizing risks when a subject matter expert (SME) suggests categorizing the risks by their impact to the project objectives. Why should the risk management professional use this approach?

A. To enable the team in identifying the specific causes of risks associated with project objectives.
B. To determine there more attentive project leadership and organizational involvement is needed.
C. To assign risks and risk severities to functional discipline and departments effectively.
D. To ensure that project priorities are being appropriately factored into risk response plans.

Answer: D

Explanation:
Explanation
Categorizing risks by their impact on project objectives ensures that risk response plans are aligned with project priorities. This helps in focusing on the most critical risks and their potential impact on the project's success.
Categorizing risks by their impact to the project objectives is a way of aligning the risk management process with the project goals and stakeholder expectations. By doing so, the risk management professional can ensure that the risk response plans are focused on the most critical aspects of the project and that the project priorities are being considered in the decision making. This approach can also help to communicate the value of risk management to the project team and the stakeholders, as they can see how the risk management activities are contributing to the project success. Categorizing risks by their impact to the project objectives does not necessarily help to identify the specific causes of risks, determine the level of project leadership and organizational involvement, or assign risks and risk severities to functional disciplines and departments. These are other possible ways of categorizing risks, but they are not the main purpose of using the impact to the project objectives approach. References: PMI-RMP Certification Handbook1, page 9; PMBOK Guide, page 415.

NEW QUESTION # 138
You are the project manager for Genpact Inc. You have established quarterly risk management meetings. Which of the following is not a component of a risk management meeting?

A. Review of risk responses
B. Assessment or risk
C. Assessing the overall status of risks in the project
D. The availability of the individual

Answer: D

NEW QUESTION # 139
Tom is the project manager for his organization. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines?

A. Risk responses may take time and money to implement.
B. New or omitted work as part of a risk response can cause changes to the cost and/or schedule baseline.
C. Risk responses protect the time and investment of the project.
D. Baselines should not be updated, but refined through versions.

Answer: B

NEW QUESTION # 140
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?

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

Answer: C

NEW QUESTION # 141
After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

A. How the response will affect the quality of the components
B. Verify due dates for the actions have been identified
C. Probability of a response triggering a secondary risk
D. If the risk response is tied to an activity on the critical path

Answer: B

Explanation:
The first element the risk owner should look for in the response plan is to verify that due dates for the actions have been identified. This ensures that risk mitigation actions are timely and can be effectively monitored.
After identifying the risks and assigning risk owners, the next step is to develop risk response plans that describe how to address each risk. The first element that the risk owner should look for in the response plan is the due date for the actions that are required to implement the response. The due date is important because it helps to prioritize the risk response activities, monitor the progress of the risk response, and ensure that the response is executed in a timely manner. The due date also helps to align the risk response with the project schedule and avoid any delays or conflicts. The other elements, such as the probability of a secondary risk, the impact on the quality of the components, and the relationship with the critical path, are also relevant for the risk response plan, but they are not the first element that the risk owner should look for. Reference: PMI, 2017. A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition. Newtown Square, PA: Project Management Institute, Inc., pp. 407-4081

NEW QUESTION # 142
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