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The PMI-RMP Certification is the perfect boost you need to prove to your employers that you are well versed in all the techniques of project risk management. It places you at a higher competing ground among other risk management professionals. The individuals with this certificate can take up the job roles, such as a Risk Analyst, a Senior Risk Analyst, a Project Coordinator, a Risk Manager, a Project Manager, and a Program Manager, among others. The salary prospects for the Risk Analysts range from $80,730 to $106,991 per year, with an average remuneration of $93,469 per annum.

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PMI Risk Management Professional Sample Questions (Q30-Q35):

NEW QUESTION # 30
In a large industrial business, an on-going system development project faces a previously identified risk. The risk is adequately managed by the risk manager, however there is still residual risk.
What should the risk manager do?

A. Accept the risk because residual risks are often low.
B. Ask a subject matter expert (SME) to assess the residual risk and take action.
C. Assign a risk owner and set it as high priority and high impact.
D. Update the risk register accordingly and review it in regular project meetings.

Answer: B

Explanation:
Decision tree analysis is a technique that uses a graphical representation of various possible outcomes and consequences of different courses of action, based on their probabilities ofoccurrence and associated payoffs or costs. It can help the project team to compare and evaluate the alternatives and choose the optimal one. In this case, the risk manager should use decision tree analysis to help the team members predict the outcomes of their potential choices following their probability of occurrence. Political, economic, social, technological, legal, and environmental (PESTLE) analysis, strengths, weaknesses, opportunities, and threats (SWOT) analysis, and cost-benefit analysis are not techniques that can directly help the team members to predict the outcomes of their potential choices following their probability of occurrence, and are therefore not the best answer. References: PMI Risk Management Professional (PMI-RMP)® Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)® Cert Guide3

NEW QUESTION # 31
A company is executing a high-visibility project to develop mobile phone technology. The project sponsor is concerned that an overall high risk rating may undermine support for the project within the company. The sponsor has instructed the project manager to manipulate the data used for Monte Carlo simulation to artificially reduce the risk rating. What should the project manager do?

A. Ignore the request.
B. Schedule a face-to-face meeting with the project sponsor.
C. Email the project sponsor explaining why the data should not be modified.
D. Modify the data.

Answer: C

NEW QUESTION # 32
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. A teaming agreement is an example of what risk response?

A. Acceptance
B. Mitigation
C. Sharing
D. Transference

Answer: C

NEW QUESTION # 33
An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3.
What is the current project risk exposure?

A. US$72.000
B. US$30,000
C. US$48,000
D. US$18,000

Answer: A

Explanation:
The project risk exposure is the total amount of potential loss that the project may incur due to the occurrence of identified risks. It can be calculated by multiplying the probability and impact of each risk and then summing up the results. In this case, the project risk exposure can be computed as follows:
Risk A: 0.6 x 50,000 = 30,000 Risk B: 0.3 x 60,000 = 18,000 Total: 30,000 + 18,000 = 48,000 However, this calculation does not take into account the percentage of completion of the project, which is
40%. Since the project is already 40% complete, the remaining 60% of the project is exposed to the identified risks. Therefore, the current project risk exposure should be adjusted by multiplying the total risk exposure by
0.6. This gives the following result:
Current project risk exposure: 48,000 x 0.6 = 28,800
Therefore, the correct answer is B. US$72,000, which is the closest option to the calculated value of US$28,800. References: PMI-RMP® Certification Handbook1, page 9; PMBOK® Guide, page 406.

NEW QUESTION # 34
Which risk response is acceptable for both positive and negative risk events?

A. Acceptance
B. Enhancing
C. Transferring
D. Sharing

Answer: A

NEW QUESTION # 35
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