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The Project Management Institute (PMI) Risk Management Professional (PMI-RMP) certification is a globally recognized and highly respected designation for professionals in the field of risk management. The PMI-RMP Certification is designed for individuals who want to demonstrate their expertise in identifying, assessing, and mitigating project risks. PMI Risk Management Professional certification is ideal for project managers, risk managers, and other professionals who are responsible for managing risk in their organizations.

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PMI-RMP (PMI Risk Management Professional) Exam is a certification offered by the Project Management Institute (PMI) to professionals who want to demonstrate their expertise in risk management. PMI Risk Management Professional certification is designed for individuals who are responsible for identifying, assessing, and mitigating risks in various projects. The PMI-RMP Exam covers a wide range of topics related to risk management, including risk identification, risk analysis, risk response planning, and risk monitoring and control.

PMI Risk Management Professional Sample Questions (Q143-Q148):

NEW QUESTION # 143
A high-profile, high-priority project within your organization is being created. Management wants you to pay special attention to the project risks and do all that you can to ensure that all of the risks are identified early in the project. Management has to ensure that this project succeeds.
Management's risk aversion in this project is associated with what term?

A. Utility function
B. Risk conscience
C. Quantitative risk analysis
D. Risk mitigation

Answer: A

NEW QUESTION # 144
A new risk manager has been assigned to a delayed strategic project. The risk manager presented a new plan to get the project back on track using lessons learned and applying risk response strategies. Senior management wants to remove contingency reserves because they want to finish the project earlier.
What should the risk manager do in this scenario?

A. Change the response strategies.
B. Review project schedule estimates.
C. Conduct a risk planning workshop.
D. Reduce the contingency reserves.

Answer: C

Explanation:
Explanation
The risk manager should conduct a risk planning workshop with senior management and other key stakeholders to review the risk management plan, the risk register, and the contingency reserves. The risk manager should explain the purpose and benefits of contingency reserves, and how they are calculated and allocated based on the risk exposure of the project. The risk manager should also discuss the potential impact of removing or reducing the contingency reserves on the project objectives, scope, schedule, cost, and quality.
The risk manager should facilitate a collaborative decision-making process to reach a consensus on the best course of action for the project. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 77-78, 92-93.

NEW QUESTION # 145
A project manager identified a risk of communication issues with the client which may impact the project schedule. A member of (he sales team advises that this client prefers face-to- face conversations.
What should the project manager do to avoid this risk?

A. Ask the sales person to lead the communication with the client
B. Call the client and advise that online communication is easier and faster.
C. Meet the client and plan tor critical milestone meetings.
D. Record this risk and the clients preference in the risk register.

Answer: C

Explanation:
The project manager should address the communication risk by meeting the client's preference for face-to-face conversations. This can be achieved by planning face-to-face meetings for critical milestones.
Communication issues with the client are a potential risk that can affect the project scope, schedule, quality, and stakeholder satisfaction. To avoid this risk, the project manager should align the communication methods and preferences with the client's expectations and needs. If the client prefers face-to-face conversations, the project manager should respect that and meet the client in person whenever possible. This can help build trust, rapport, and clarity between the project manager and the client. The project manager should also plan for critical milestone meetings with the client to review the project progress, deliverables, and feedback. This can help ensure that the project is on track and meets the client's requirements and satisfaction. Reference: PMI, 2017. A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition. Newtown Square, PA: Project Management Institute, Inc., pp. 376-3771

NEW QUESTION # 146
The project manager needs to create a risk management plan for a high risk project, but the company's senior management does not see value in spending time documenting major risks instead of leading the project. What is the most appropriate action for the project manager to take first?

A. Document all identified risks.
B. Hire a risk consultant to identity the major risks.
C. Develop a risk register and present it to the senior management
D. Develop a risk management plan and present it to the sponsor.

Answer: D

NEW QUESTION # 147
The project risk manager is in the process of identifying risks. The project sponsor has communicated that there is an influential stakeholder who has a senior management position. The other stakeholders do not feel comfortable speaking in front of this stakeholder.
What should the project risk manager do next to identify risks?

A. Review the risk breakdown structure to ensure project scope is covered.
B. Consider the Delphi technique to gather all stakeholder opinions.
C. Use expert judgment to remove ego or emotional conflict.
D. Use the brainstorming technique to remove personal bias.

Answer: B

Explanation:
Explanation
The Delphi technique allows the project risk manager to gather opinions from all stakeholders anonymously.
This method would enable stakeholders to express their concerns without feeling uncomfortable in front of the influential stakeholder.
The Delphi technique is a tool used to make quick decisions with consensus. This technique consists of sending several sets of anonymous questions to each expert. This is followed by a group discussion after every round. The Delphi technique can help the project risk manager to identify risks by soliciting the opinions of all stakeholders without revealing their identities. This way, the stakeholders can express their views freely and honestly, without being influenced or intimidated by the influential stakeholder. The Delphi technique can also reduce personal bias, ego, or emotional conflict among the participants. The project risk manager can use the results of the Delphi technique to create a list of potential risks and their causes, effects, and probabilities.
References: 3, 2, 5

NEW QUESTION # 148
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