PMI-RMP

PMI-RMP practice questions, page 13 of 18, with answer review and explanations.

Question 61

Which of the following characteristics would a risk-adverse person or group demonstrate?

  1. Reasonable comfort with most uncertainty; accepts risk as a normal feature of projects and business, and takes uncertainty in stride with no apparent or significant influence on their behavior.
  2. Risk taking is a price worth paying for future payoffs; seeks strategies and tactics that have high future payoffs; thinks abstractly and creatively envisioning possibilities, and is not afraid of change oi unknowns.
  3. Discomfort with uncertainty; low tolerance for ambiguity, and seeks security and resolution when facing risk.
  4. Adaptable and resourceful, and is not afraid to take action, or even thrill seeking.

Question 62

A project manager has a two-month project with three project team members. The project sponsor does not agree with the project manager that a risk planning process is necessary, since the project is very small. Would it be appropriate for the project manager to implement some level of risk management?

  1. Yes, even small projects may require risk planning.
  2. No, small projects do not usually require risk planning.
  3. No, risk planning should be initiated with the sponsor's consent.
  4. Yes, the risk planning process implementation is ultimately the project manager's decision.

Question 63

Which of the following would a proactive risk manager do during the Monitoring and Controlling Process?

  1. Develop risk responses, create risk management plan, and stay alert for risk events.
  2. Update the lessons learned documents, develop risk responses, and create the risk management plan.
  3. Review identified risks, stay alert for risk events, and remind team members to keep the risk manager informed about risk triggers.
  4. Review lessons learned document to identify risks, quantify risks, and lower impact ratings.

Question 64

A stakeholder is asked to approve additional funding to implement a risk response plan. However, the stakeholder is unsure of the amount that could be approved without escalation. Where should the stakeholder look to determine the amount that can be approved?

  1. Project charter
  2. Risk management plan
  3. Risk register
  4. Organizational process assets

Question 65

A cost analyst team member asks the project manager for the latest risk data for inclusion with the cost estimates for the project. Which tool should the cost analyst team member use to identify the probability of achieving specific cost targets?

  1. Monte Carlo analysis
  2. Decision tree analysis
  3. Analogous estimating
  4. Brainstorming