VISUAL PMI-RMP CERT EXAM & PMI-RMP FREE EXAM

Visual PMI-RMP Cert Exam & PMI-RMP Free Exam

Visual PMI-RMP Cert Exam & PMI-RMP Free Exam

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Tags: Visual PMI-RMP Cert Exam, PMI-RMP Free Exam, PMI-RMP Latest Test Online, Test PMI-RMP Dumps Free, PMI-RMP Demo Test

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PMI stands for the Project Management Institute, and it is the world's No.1 association for project managers who want to leverage their skills in this field by obtaining the related certificates. Among many other options, this institute offers the PMI-RMP or the PMI Risk Management Professional certification. Individuals who prove their knowledge of project risk identification and mitigation by passing the associated PMI-RMP exam will be issued this certification. But why opt for it? Well, project risk management remains one of the most important activities for organizations all around the globe with the majority of the world's largest project management companies doing a lot of risk management activities to increase their chances of succeeding. So, since project risk management significantly improves the project success rate and saves money, the PMI-RMP certificate will greatly increase your value in the eyes of potential employers.

PMI-RMP exam is designed to test the candidate's knowledge and skills in risk management. PMI-RMP Exam consists of 170 multiple-choice questions and takes around 3.5 hours to complete. PMI-RMP exam is divided into five domains, which include risk strategy and planning, stakeholder engagement, risk process facilitation, risk monitoring and reporting, and performing specialized risk analysis.

To be eligible for the PMI-RMP Certification Exam, candidates must meet specific education and experience requirements. They must have a minimum of a high school diploma or equivalent, at least 4,500 hours of project risk management experience, and 40 hours of project risk management education. Alternatively, candidates with a bachelor's degree or higher require only 3,000 hours of project risk management experience and 30 hours of project risk management education.

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PMI Risk Management Professional Sample Questions (Q64-Q69):

NEW QUESTION # 64
Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others. What should the project manager do?

  • A. Request additional management reserve for those risks
  • B. Transfer ownership of those risks to the customer
  • C. Implement the risk handling strategies for those risks
  • D. Reduce the probabilities of those risks on the risk register

Answer: C

Explanation:
Explanation
The project manager should implement the risk handling strategies for the risks that occur more frequently, as this will help reduce their impact on the project and improve overall project performance.


NEW QUESTION # 65
Mary is the project manager of the HGH Project for her company. She and her project team have agreed that if the vendor is late by more than ten days they will cancel the order and hire the NBG Company to fulfill the order. The NBG Company can guarantee orders within three days, but the costs of their products are significantly more expensive than the current vendor. What type of a response strategy is this?

  • A. Contingent response strategy
  • B. Expert judgment
  • C. External risk response
  • D. Internal risk management strategy

Answer: A


NEW QUESTION # 66
A project manager wants to work on understanding the project risks. The project manager works with the integrated project team to develop the risk handling strategies for the identified risks.
How should the project manager work with these risk handling strategies?

  • A. Review and revise the strategies periodically.
  • B. Implement the strategies after completing the risk analysis.
  • C. Ensure the strategies are approved by the stakeholders.
  • D. Implement the strategies immediately.

Answer: A

Explanation:
Risk handling strategies should be reviewed and revised periodically to ensure they remain effective and relevant as the project progresses. This allows the project manager to adapt to changing circumstances and minimize the impact of risks on the project.
According to the PMBOK Guide, risk handling strategies are the specific actions that are taken to implement the risk response plan. The risk response plan is the output of the Plan Risk Responses process, which describes how the project team intends to address the identified risks. The risk handling strategies should be aligned with the risk response strategies, which are the general approaches to deal with the risks, such as avoid, transfer, mitigate, accept, exploit, share, enhance, or accept.
The project manager should work with the risk handling strategies by reviewing and revising them periodically. This is because the project risks are not static, but dynamic and uncertain. They may change over time due to various factors, such as changes in the project scope, schedule, cost, quality, resources, stakeholder expectations, assumptions, constraints, etc. Therefore, the project manager should monitor and control the risk handling strategies to ensure that they are still effective and appropriate for the current risk situation. The project manager should also update the risk register and the risk report with the results of the risk handling strategies, such as the residual risks, secondary risks, and risk triggers.
The other options are not valid for how the project manager should work with the risk handling strategies:
* Implement the strategies after completing the risk analysis: This is not a valid option because the risk analysis is not the final step in the risk management process. The risk analysis is part of the Perform Qualitative Risk Analysis and Perform Quantitative Risk Analysis processes, which come after the Identify Risks process and before the Plan Risk Responses process. The risk analysis helps the project manager to prioritize and evaluate the risks, but it does not provide the specific actions to address them. The risk handling strategies are developed in the Plan Risk Responses process, which comes after the risk analysis.
* Implement the strategies immediately: This is not a valid option because the risk handling strategies should not be implemented without proper planning and approval. The risk handling strategies should be documented in the risk response plan, which should be communicated and approved by the project sponsor, customer, and other relevant stakeholders. The risk handling strategies should also be integrated with the other project management plans, such as the scope, schedule, cost, quality, resource, communication, procurement, and stakeholder management plans. The risk handling strategies should be implemented only when the risk triggers or conditions occur, or when the project manager decides to do so based on the risk analysis and evaluation.
* Ensure the strategies are approved by the stakeholders: This is not a valid option because the approval of the risk handling strategies is not the only thing that the project manager should do with them. The approval of the risk handling strategies is part of the Plan Risk Responses process, which comes before the Implement Risk Responses and Monitor Risks processes. The project manager should also implement, monitor, and control the risk handling strategies to ensure that they are effective and appropriate for the current risk situation.
References: PMBOK Guide1, Risk Management Professional (PMI-RMP) Cert Guide1


NEW QUESTION # 67
You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform distribution method for a portion of the project.
Which part of your project is most likely to have a uniform risk distribution?

  • A. Early concept stage of design
  • B. Project phases that deal with "cutover" technologies
  • C. Project initiating
  • D. Late completion stages of a project

Answer: A


NEW QUESTION # 68
You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?

  • A. Risk register
  • B. Risk management plan
  • C. Lessons learned documentation
  • D. Stakeholder management strategy

Answer: A


NEW QUESTION # 69
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