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PMI-RMP exam consists of 170 multiple-choice questions that test the candidate's knowledge in five domains of risk management. These domains include risk strategy and planning, stakeholder engagement, risk process facilitation, risk monitoring and reporting, and performing specialized risk analysis. PMI-RMP exam is four hours long and requires a passing score of 61% or more. The PMI-RMP certification is an excellent career advancement opportunity for risk management professionals seeking to improve their skills and build their credentials. It is also a valuable asset for organizations looking to mitigate project risks and improve project outcomes.

To be eligible for the PMI-RMP Certification Exam, candidates must have at least three years of experience in project risk management and 30 hours of risk management education. PMI-RMP exam covers topics such as risk identification, risk analysis and assessment, risk response planning, and risk monitoring and control. It is a four-hour computer-based exam consisting of 170 multiple-choice questions. The passing score for the exam is 61%. Successful candidates are awarded the PMI-RMP certification, which is valid for three years and must be renewed through continuing education and professional development activities.

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PMI Risk Management Professional Sample Questions (Q107-Q112):

NEW QUESTION # 107
A project manager realizes the team undertaking the project work has fallen behind the planned schedule. The risk manager identifies a new risk resulting from this delay and will need to understand how this will affect the project deadline.
Which kind of numerical analysis should be performed to understand the worst-case scenarios?

A. Earned value analysis
B. Qualitative risk analysis
C. Root cause analysis
D. Sensitivity analysis

Answer: D

Explanation:
sensitivity analysis is a technique that helps to determine which risks have the most potential impact on the project. It examines the extent to which the uncertainty of each project element affects the objective being examined when all other uncertain elements are held at their baseline values. Sensitivity analysis is often used to assess the risk exposure of the project schedule and cost, and to identify the critical risks that need to be managed. In this case, the risk manager needs to understand how the new risk resulting from the delay will affect the project deadline, which is the objective being examined. By performing sensitivity analysis, the risk manager can compare the relative importance and interaction of the new risk with other existing risks, and determine the worst-case scenarios for the project completion date. Sensitivity analysis can also help to prioritize risks for response planning and to develop contingency reserves. This is part of the Perform Quantitative Risk Analysis process in the PMBOKGuide2. Reference: 1: PMI Risk Management Professional (PMI-RMP)Examination Content Outline 2: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition

NEW QUESTION # 108
You work as a project manager for BlueWell Inc. Your project is using a new material to construct a large warehouse in your city. This new material is cheaper than traditional building materials, but it takes some time to learn how to use the material properly. You have communicated to the project stakeholders that you will be able to save costs by using the new material, but you will need a few extra weeks to complete training to use the materials. This risk response of learning how to use the new materials can also be known as what term?

A. Cost of conformance to quality
B. Cost-benefits analysis
C. Benchmarking
D. Team development

Answer: A

Explanation:
Explanation/Reference:

NEW QUESTION # 109
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 determine there more attentive project leadership and organizational involvement is needed.
B. To ensure that project priorities are being appropriately factored into risk response plans.
C. To enable the team in identifying the specific causes of risks associated with project objectives.
D. To assign risks and risk severities to functional discipline and departments effectively.

Answer: B

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; PMBOKGuide, page 415.

NEW QUESTION # 110
A project manager is assigned to a new project and is told they need to develop the project's risk register. When should the project manager identify the project risks?

A. Identify risks only at the project's midpoint for the stakeholders to review them
B. Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas
C. Identify risks at the beginning of the project because the risk posture will not change
D. Ensure project team members proactively identify risks throughout the project to plan for possible response strategies

Answer: D

Explanation:
Risk identification should be an ongoing process throughout the project lifecycle. Encouraging project team members to proactively identify risks allows for continuous risk management and the development of appropriate response strategies as new risks emerge.
According to the PMI Risk Management Professional (PMI-RMP)Examination Content Outline1, one of the tasks in the domain of Risk Identification is to ensure that project team members proactively identify risks throughout the project life cycle, using various tools and techniques, to enable planning for possible risk response strategies1. Risk identification is an iterative process that should be performed regularly and frequently throughout the project, as new risks may emerge or existing risks may change due to internal or external factors2. The project manager should involve the project team members and other relevant stakeholders in the risk identification process, as they may have different perspectives, expertise, and insights on the project risks3. The project manager should not identify risks only at the project's midpoint for the stakeholders to review them, because that would be too late and ineffective to manage the risks that may have already occurred or escalated4. The project manager should not identify risks at the beginning of the project because the risk posture will not change, because that would be unrealistic and imprudent to assume that the project environment and conditions will remain static and predictable5. The project manager should not delegate risk identification to each team member and have them record the risks on separate risk registers for their areas, because that would create inconsistency, duplication, and fragmentation of the risk information, and prevent a holistic and integrated view of the project risks. Reference: 1: PMI Risk Management Professional (PMI-RMP)Examination Content Outline, page 82: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 3983: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 3994: Risk Identification: When and How Often to Do It During the Project Life Cycle5: Risk Management: Why Is It Important?. : Risk Register in Project Management - Project Management Academy.

NEW QUESTION # 111
You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?

A. Salience model
B. Stakeholder register
C. Influence/impact grid
D. Stakeholder power/interest grid

Answer: D

NEW QUESTION # 112
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