PMI-RMP practice questions, page 10 of 18, with answer review and explanations.
Question 46
In the country where a project is being executed, customs procedures are complex and change frequently. During the risk identification process, the project team identifies a risk related to delays in customs on substantial equipment that will likely occur. Equipment delays on this project could lead to project cancellation. Why should a mitigation plan be developed for this risk?
This is a financial risk.
This task is on the critical path.
A response plan should be developed for all risks.
This is a high-priority risk.
Question 47
A race director is planning a marathon with US$80,000 in upfront costs that will be offset by race fees. The remainder of the funds will be donated to a national charity. State law mandates that all money paid by the participants must be refunded if the race is cancelled for any reason. Which of the following is the best example of a risk mitigation response?
Let the runners know the race will be cancelled only in the event of an emergency.
Purchase an insurance policy covering up to US$85,000 in losses, at a cost of US$5,000, in the event the race is cancelled.
Inform the charity that they will receive no funds should the race be cancelled.
Charge the runners an additional amount to cover the US$80,000.
Question 48
The risk manager for a construction project graphically groups project risks by the subsets of economic risk, social risk, and technical risk. Where has this information been captured?
Risk breakdown structure
Risk management plan
Risk register
Risk control plan
Question 49
When considering human factors and risk attitudes relative to the risk process, which approach should be used to influence the risk management process for optimal effects at the individual and group levels?
Agile
Reactive
Ongoing
Proactive
Question 50
What identification technique is used to help reduce the ambiguity of a risk statement?