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Three in-Demand PMI PMI-RMP Exam Questions Formats

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Pass Guaranteed Efficient PMI-RMP - PMI Risk Management Professional Reliable Practice Questions

Getting the PMI PMI-RMP certification exam is necessary in order to get a job in your desired tech company. Success in the PMI Risk Management Professional (PMI-RMP) certification exam gives you an edge over the others because you will have certified skills. The PMI PMI-RMP certification exam badge will make a good impression on the interviewer. Most of the people planning to attempt the PMI-RMP Exam are confused that how will they prepare and pass PMI-RMP exam with good grades. Many don't find real PMI-RMP exam questions and face loss of money and time.

PMI-RMP certification exam is a comprehensive assessment of a candidate's knowledge and skills in the field of risk management. It tests the candidate's ability to identify, assess, and mitigate risks in a project environment. PMI-RMP Exam covers various topics such as risk identification, risk analysis, risk response planning, risk monitoring, and communication management. PMI Risk Management Professional certification is highly valued by employers as it demonstrates a candidate's commitment to risk management best practices and their ability to handle complex project risks.

PMI Risk Management Professional Sample Questions (Q226-Q231):

NEW QUESTION # 226
You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?

A. Risk identification
B. Risk analysis
C. Risk monitoring and controlling
D. Risk planning

Answer: C

NEW QUESTION # 227
Consider the risk probability-impact matrix in the figure given below: If Risk B happens in this project, how much will be left in the contingency reserve?

A. -$334,500
B. $193,500
C. It depends on the total budget of the project.
D. $148,300

Answer: B

NEW QUESTION # 228
Nancy is the project manager of the NHH project. She and the project team have identified a significant risk in the project during the qualitative risk analysis process. Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses. Bob disagrees and ensures Nancy that his response is most appropriate for the identified risk. Who is correct in this scenario?

A. Bob is correct. Bob is familiar with the technology and the risk event so his response should be implemented.
B. Bob is correct. Not all risk events have to pass the quantitative risk analysis process to develop effective risk responses.
C. Nancy is correct. All risks of significant probability and impact should pass the quantitative risk analysis process before risk responses are created.
D. Nancy is correct. Because Nancy is the project manager she can determine the correct procedures for risk analysis and risk responses. In addition, she has noted the risk response that Bob recommends.

Answer: B

NEW QUESTION # 229
A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.
What should the risk manager of the related project have done to prevent this situation from happening?

A. Educated the project team on budget change requests.
B. Reformed the risk monitoring and closing process properly.
C. Created the project work plan and budget more accurately.
D. Communicated better with the organization's CEO.

Answer: B

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)® Handbook1, one of the domains of the PMI-RMP exam is Risk Monitoring and Reporting, which involves tracking identified risks, monitoring residualrisks, identifying new risks, executing risk response plans, and evaluating risk process effectiveness throughout the project1. The risk manager of the related project should have reformed the risk monitoring and closing process properly to ensure that the contingency budget is only used for the intended risks and not for other purposes. The risk manager should have also communicated the status and outcomes of the risk activities to the relevant stakeholders, such as the functional manager and the CEO, to avoid any confusion or conflict over the budget allocation1. References: 1: PMI Risk Management Professional (PMI-RMP)® Handbook, page 6.
The risk manager should have ensured a more accurate project work plan and budget to prevent the functional manager from requesting to use the project's contingency budget. A well-planned budget would have avoided the shortage in the functional manager's department budget.

NEW QUESTION # 230
An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?

A. Meet with the project's stakeholders
B. Ensure sufficient resources are available
C. Update the risk register
D. Revise the risk management plan

Answer: D

Explanation:
The risk management plan is a document that describes how risk management activities will be structured and performed on a project. It defines the roles and responsibilities, risk categories, risk appetite and thresholds, risk identification and analysis methods, risk response strategies, risk monitoring and reporting mechanisms, and risk governance mechanisms1. The risk management plan should be aligned with the project management plan, which defines the project scope, schedule, cost, quality, and other aspects2. When an organization decides to accelerate a key project, it means that the project objectives, assumptions, constraints, and environment have changed. This will affect the risk exposure and profile of the project, as well as the risk management approach and resources. Therefore, the first action for the project risk manager to take is to revise the risk management plan to reflect the new situation and ensure that the risk management process is still effective and efficient. Revising the risk management plan may involve updating the risk categories, risk appetite and thresholds, risk identification and analysis methods, risk response strategies, risk monitoring and reporting mechanisms, and risk governance mechanisms to suit the accelerated project. The project risk manager should also communicate the revised risk management plan to the relevant stakeholders and obtain their approval and support1. Ensuring sufficient resources are available, updating the risk register, and meeting with the project's stakeholders are all important actions to take when accelerating a project, but they are not the first action. These actions should be done after revising the risk management plan, as they depend on the updated risk management approach and process. For example, the project risk manager may need to allocate more resources to risk management activities, identify and analyze new or changed risks, implement new or modified risk responses, and report the risk status and performance to the stakeholders based on the revised risk management plan1. Reference: 2, 1.
When a project is accelerated, the risk landscape changes. The project risk manager should first revise the risk management plan to address the new timeline and its potential impacts on the project. This will help in identifying new risks, reassessing existing risks, and updating risk responses.

NEW QUESTION # 231
......

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