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PMI Risk Management Professional Sample Questions (Q54-Q59):

NEW QUESTION # 54
A project manager running a high risk rating project was just informed that one of the key project resources has decided to leave the organization. The project manager previously identified this as a risk and had created a transition plan to enable another resource to carry out the same duties. The project manager was informed that by transitioning the responsibilities to the new resource, new risks to the completion dates of other project related tasks appear.
What should the project manager do next regarding the new risks?

A. Update the risk management plan with the new probability/impact and change the response.
B. Escalate the new risks immediately to the project stakeholders to ensure proper risk communication is in place.
C. Address these secondary risks as per the risk management plan.
D. Apply a risk acceptance strategy to the new risks as there is no risk response plan.

Answer: C

Explanation:
Explanation
The project manager should follow the risk management plan to address the new secondary risks that have emerged due to the transitioning of responsibilities to the new resource.

NEW QUESTION # 55
You have heard recently that the client calls your progress reports the "Code of Hammurabi" because they seem to be written in hieroglyphics and are completely indecipherable to all but an antiquities scholar. This situation could have been avoided by______________

A. Informing the client at the start of the project about the types of reports they will receive
B. Hiring an expert report writer to prepare standard reports
C. Engaging in communications planning
D. Using risk management techniques to identify client issues

Answer: C

Explanation:
The communications management plan is prepared during plan communications management.
The plan should include a description of the information to be distributed such as format, content, level of detail, as well as conventions and definitions to be used. [Planning] PMI®, PMBOK® Guide, 2013, 296

NEW QUESTION # 56
A project manager of an IT company is assigned to a project whose schedule may be delayed due to a lack of resources to conclude the backlog activities. The project manager decides to hire additional developers to reduce the project's technical debt and meet the project deadline.
What should the risk manager advise the project manager to do to address this situation?

A. Immediately hire as soon as the project begins to fall behind schedule.
B. Hire as soon as the project metrics trigger a risk response.
C. Only hire when it is economically feasible to do so.
D. Only hire if risk response is escalated and approved by the stakeholders.

Answer: B

Explanation:
The risk manager should advise the project manager to hire additional developers as soon as project metrics indicate that the risk of delay is materializing. This approach ensures that the response is timely and directly tied to the project's actual performance, allowing for better resource management and minimizing unnecessary costs. This aligns with PMI's risk management principles, which advocate for the timely execution of risk responses based on objective data and metrics.

NEW QUESTION # 57
A risk manager is managing risks in a project. During the initial stages of project execution, a new risk is identified. There is a very small chance that this risk will occur and even if it occurs, the impact would be low.
What should the risk manager do with this risk?

A. Seek guidance from subject matter experts (SMEs).
B. Ignore this risk as it is not critical.
C. Inform the stakeholders about this risk.
D. Put the risk on the watch list.

Answer: D

Explanation:
Since the probability and impact the risk are both low, it is appropriate to put the risk on the watch list. This allows the risk manager to monitor the risk without expending significant resources on it.
A watch list is a list of low-priority risks that are not actively managed, but are monitored for changes. A watch list can help the risk manager to keep track of the risks that have low probability and low impact, and to reassess them periodically. Putting the risk on the watch list is the most appropriate action for the risk manager, as it allows him or her to document the risk and review it later. Seeking guidance from SMEs, ignoring the risk, or informing the stakeholders are not necessary actions for a low-priority risk, as they would consume time and resources that could be better spent on more critical risks. References: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 10; A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 406.

NEW QUESTION # 58
You work as a project manager for BlueWell Inc. Your project is running late and you must respond to the risk. Which risk response can you choose that will also cause you to update the human resource management plan?

A. Fast tracking the project
B. Teaming agreements
C. Crashing the project
D. Transference

Answer: C

NEW QUESTION # 59
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