RMP - Classroom Simulation Tests

RMP Classroom Simulation Tests
1. You are the project manager of a construction project. You have completed the risk
response planning with your project team and ready to update the risk register to reflect
the risk response. Which of the following statements best describe the level of detail you
should include with the risk responses which has been created?
a)
b)
c)
d)
The level of detail is set by historical information.

The level of detail should correspond with the priority of the risk.
The level of detail must define exactly the risk response for each identified risk.
The level of detail is set for project risk governance.
2. You are the project manager and working with several subject matter experts to perform
the quantitative risk analysis process. During this process you uncover several risks events
that were not previously identified. What should you do with these risk events?
a)
b)
c)
d)
The events should be entered into the risk management plan.

The events should be determined if they need to be accepted or responded to.
The events should be entered into the risk register.
The events should continue on with quantitative risk analysis
3. Which project management plan will define who will be available to share information on
the project risks?
a)
b)
c)
d)
Risk Management Plan

Stakeholder management strategy
Resource Management Plan
Communications Management Plan
4. You work as a project manager for a project which can use new materials instead the
traditional material. These new materials are cheaper than traditional materials, but it
takes some time to learn how to use the materials properly. You have communicated to
the project stakeholders that you will be able to save costs by using the new material,
but you will need a few extra weeks to complete training to use the materials. This risk
response of learning how to use the new materials can also be known as
a)
b)
c)
d)
Team development
Benchmarking
Cost of conformance to quality
Cost of nonconformance to quality
5. How many positive risk responses are available in the project risk management?
a) Four
b) Three
c) Seven
d) Acceptance is the only risk response for positive risk events.
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6. You are working on a project and try to plot the uniform distribution related to the risk
identified. During which part of the life cycle of a project this activity is carried out?
a) Late completion stages of a project

b) Project phases that deal with 'cutover' technologies
c) Early concept stage of design
d) Project planning
7. You are identifying risks and need to use an information gathering technique. Which one
of the following risk identification approaches is an information gathering technique?
a)
b)
c)
d)
Root cause analysis

Assumptions analysis
SWOT analysis
Documentation reviews
8. You are the project manager and would like to rate each risk based on its probability of
occurrence and effect on time, cost, and scope. A project team member, has never
done this before and thinks your approach is wrong. The team member says that an
cumulative risk score should be created, not three separate risk scores. Who is correct in
this scenario?
a) Team member is correct, because the risk probability and impact considers all objectives of the
project.
b) Team member is correct; the risk probability and impact matrix is the only approach to risk
assessment.
c) Project Manager is correct, because organizations can create risk scores for each objective of
the project.
d) Team member is correct, because she is the project manager.
9. As a result of risk analysis, you feel that the project should be crashed. What happens
when the project manager crashes a project?
a)
b)
c)
d)
Project risks will increase.

The project will take longer to complete, but risks will diminish.
Project costs will increase.
The amount of hours a resource can be used will diminish.
10. What is the output of risk identification process?
a)
b)
c)
d)
Risk register
Risk register updates
Risk register updates
Project document updates
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11. After qualitative and quantitative risk analysis, which process are you going to carry out
as a Project Manager?
a)
b)
c)
d)
Monitor and control project risks

Create a risk governance approach
Create the project risk register
Plan risk responses
12. You hired Subject Matter Experts (SME) to interview stakeholders on certain identified risks
within the project. With what specific goal in mind should the SME assess the risk event?
a)
b)
c)
d)
To determine the level of probability and impact for each risk event
To determine the bias of the risk event based on each person interviewed
To determine the probability and cost of the risk event
To determine the validity of each risk event
13. When analyzing the risk qualitatively, you are considering a lot of historical data through
the use of organizational process records. Which of the following may not be the right
choice to select the history data ?
a)
b)
c)
d)
Studies of similar projects by risk specialists

Risk databases that may be available from industry sources
Review of vendor contracts to examine risks in past projects
Information on prior, similar projects
14. What will be the expected monetary value of Risk C if probability is 40% and impact is
900000 USD, which is a threat?
a)
b)
c)
d)
-900000 USD
36000 USD
900000 USD
-36,000 USD
15. Which project management plan will be the best guide to communicate about the risk
related matter?
a)
b)
c)
d)
Risk Response Plan

Risk Management Plan
Communications Management Plan
Project Management Plan
16. For your project, the budget is $7500,000 and is expected to last for one year. You have
identified a risk event that has a probability of .60 and has a cost impact of $450,000.
When it comes to creating a risk response for this event, what is the risk exposure of the
event that must be considered for the cost of the risk response?
a) The risk exposure of the event is $270,000.

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b) The risk exposure of the event is $500,000.
c) The risk exposure of the event is $350,000.
d) The risk exposure of the event is $850,000.
17. Which of the following risk identification risk techniques used Unanimity under group
decision making techniques?
a)
b)
c)
d)
Influence diagrams
Surveys
Delphi technique
18. You are working on following activities like Relative ranking or priority list of project risks ,
Watch lists of low priority risk , Trends in Qualitative Risk Analysis results, On which process
are you working on?
a)
b)
c)
d)
Perform Qualitative Risk Analysis

Plan Risk Management
Plan Risk Responses
Perform Quantitative Risk Analysis
19. There are five outputs of the control risk process. Which one of the following is NOT an
output of the process?
a)
b)
c)
d)
Organizational process asset updates

Vendor contracts
Change requests
20. This project has a budget at completion of $4M and you are 60 percent complete.
According to the project plan, however, the project should be 75 percent complete. In
this project you have spent $3.6M to reach this point of completion. Now by looking into
the status, we know that the project is under bad condition and there is a risk of
completion of project not completed on time and within the budget. The management
need to know atleast the estimate at completion, so that they can take some decision
based on the figure. What is estimation at completion?
a)
b)
c)
d)
1650000
6.06
663333
-8333
21. Which of the following technique or the process provides the best picture about the
uncertainties?
a) Monte Carlo Technique

b) Qualitative risk analysis process
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c) Quantitative risk analysis process
d) Delphi Technique
22. When it comes to risk, which of the following type of contract carries more risk for the
buyer?
a)
b)
c)
d)
Cost plus percentage of costs

Time and material
Cost plus incentive fee
Fixed-price, incentive fee
23. There is requirement of materials for a project. The performing organization approaches a
vendor who quotes about 7% less if the buyer is going for about 200 pieces. But the
project doesn't need that many numbers, but still considering the discount, the
organization place an order as the risk associated with budget of project is not so high at
the end of the day. What is the type of response the performing organization took?
a)
b)
c)
d)
Acceptance
Enhance
Exploiting
Sharing
24. You have identified the following risks with the characteristics as shown in the following
table: How much capital should the project set aside for the risk contingency reserve?
a)
b)
c)
d)
Risk
Probability
Impact
60%
-10000
10%
-85000
25%
-75000
40%
45000
50%
-17000
142000
41750
23750
232000
25. After carrying out the prioritization of risks within the project, you are analyzing the risks
from numerical value point of view. Which of the following process are you carrying out?
a) Plan Risk Management

b) Perform Quantitative Risk Analysis
c) Perform Qualitative Risk Analysis
d) Identify Risks
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26. For a project from the risk management perspective, you want to make sure that during
qualitative analysis while ranking the risk there should not be any bias. From the options
which is the best possible solution you pick up?
a) Group stakeholders according to positive and negative stakeholders and then complete
the risk analysis
b) Determine the risk root cause rather than the person identifying the risk events
c) Establish risk boundaries
d) Establish definitions of the level of probability and impact of risk event
27. Why would the risk response planning need to update the cost and schedule baselines?
a) New or omitted work as part of a risk response can cause changes to the cost and/or
schedule baseline.
b) Risk responses protect the time and investment of the project.
c) Risk responses may take time and money to implement.
d) Baselines should not be updated, but refined through versions.
28. What type of risk response is crashing the project?
a)
b)
c)
d)
Transference
Mitigation
Exploit
Avoid
29. Which risk response is acceptable for both positive and negative risk events?
a)
b)
c)
d)
Transferring
Acceptance
Sharing
Enhancing
30. Which one of the following is the only output for the qualitative risk analysis process?
a)
b)
c)
d)
Enterprise environmental factors

Project management plan
Organizational process assets
31. How is the risk exposure calculated?

a) The risk exposure of a risk event is determined by historical information.
b) The product of probability of a risk event and the impact of a risk event determines the
true risk exposure.
c) The probability of a risk event plus the impact of a risk event determines the true risk
exposure.
d) The probability and impact of a risk event are gauged based on research and in-depth
analysis.
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32. You are managing a project where in you identified a risk. There is a probability of 80% of
this risk occurring and the impact is about $6Million. If you mitigate by alternatives the
probability reduces to 20% and the additional cost is going to be $2Million. The
management is ready to sanction this from management reserve. What is the correct
answer which is explaining this situation?
a)
b)
c)
d)
This is mitigation because the response reduces the probability.

This is not a risk response, but a change request.
This is transference because of the $260,000 cost of the solution.
This is avoidance because the risk response caused the project plan to be change
33. The project's success or failure will have a significant impact on your organization's
profitability for the coming year. Management has asked you to identify the risk events
and communicate the event's probability and impact as early as possible in the project.
Management wants to avoid risk events and needs to analyze the cost- benefits of each
risk event in this project. What term is assigned to the low-level of stakeholder tolerance
in this project?
a)
b)
c)
d)
Mitigation-ready project management

Risk utility function
Risk avoidance
Risk-reward mentality
34. What is the best solution to avoid ambiguity about risk ranking so that all the stakeholders
are on the same page?
a)
b)
c)
d)
Establish the definitions of the levels of probability and impact

Provide iterations of risk analysis for true reflection of a risk probability and impact
Isolate the stakeholders by project phases to determine their risk bias
Involve all stakeholders to vote on the probability and impact of the risk events
35. As a part of risk strategy and planning based on the enterprise environmental factors, the
probability and impact factors and scaling is established. How much detail and
repetition in approach for risks to be reassessed for probability and impact?
a) Each risk reassessment should go into the same depth as the original risk assessment
activity.
b) The probability and impact of risk event should determine the level of reassessment
throughout the project lifecycle.
c) The amount of detail of repetition that is appropriate depends on how the project
progresses relative to its objectives.
d) The level of detail and reassessment should reflect the priority of the project.
36. Which of the following is not an output of control risks?
a) Project performance report
b) Change request
c) Project performance information
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d) Project management plan update
37. You are the project manager of a Project and you started the risk identification process
for the project. You need to ensure that correct stakeholders are interviewed as part of
risk identification. What document will help you to communicate and solicit inputs of the
project stakeholders during risk identification?
a)
b)
c)
d)
Project charter
Risk register
Requirements management plan
Stakeholder register
38. You are facilitating the identification of risk. While carrying out this activity, you want to
make sure that the stakeholders provide all the expertize and interact so that justice is
done to the risk identification. Which of the following is the best technique?
a)
b)
c)
d)
Delphi Technique
SWOT analysis
Brainstorming
39. You are the project manager of a project and Management has asked to periodically
review the contingency reserve as risk events happen, pass, or are still pending. What is
the purpose of reviewing the contingency reserve?
a) It helps to evaluate if the remaining reserve is adequate for the risk exposure.
b) It helps to determine how much more funds need to be invested in the project.
c) It helps to evaluate secondary and residual risks related to the risk responses and their
costs.
d) It helps to determine the probability and impact of project risks.
40. Which of the following documents is described in the statement below? 'It is developed
along with all processes of the risk management. It contains the results of the qualitative
risk analysis, quantitative risk analysis, and risk response planning.'
a)
b)
c)
d)
Risk management plan

Project charter
Risk register
Quality management plan
41. You are prioritizing risks for further analysis or action by assessing and combining the risks
probability of occurrence and impact. What process you are completing?
a)
b)
c)
d)
Risk identification
Perform qualitative analysis
Perform quantitative analysis
Risk Breakdown Structure creation
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42. Which of the following statements is not purpose of an Issue Log?
a)
b)
c)
d)
It analyzes the impact that the issue is having on the project.

It tracks the actions taken to resolve the issue.
It tracks the outcome of the actions taken.
It addresses the risks that could affect the project.
43. You are the program manager for your organization. Management is considering a new
program but they are worried about the program risks that may affect the program's
success. You know that there are three positive risk responses and three negative risk
responses that each risk can have. Management asks you which risk response would be
most appropriate for a large risk event if they wanted to hire a third-party to own the risk
event for the program. What risk event is most appropriate?
a)
b)
c)
d)
Avoidance
Sharing
Transference
Mitigation
44. In the choice given which is the negative risk response?

a)
b)
c)
d)
Enhance
Exploit
Acceptance
Share
45. You are the project manager of a Project and identified a risk event in the project with a
high probability of occurrence and the risk event has a high cost impact on the project.
You discusses the risk event with customer and he decides that the requirements
surrounding the risk event should be removed from the project. The removal of the
requirements does affect the project scope, but it can release the project from the high
risk exposure. What risk response has been enacted in this project?
a)
b)
c)
d)
Mitigation
Transference
Acceptance
Avoidance
46. A risk has been identified and entered into the risk register as per the requirement. While
analyzing, it is noticed that this risks may occur at a very much later date but the
probability is very high. What is the best action to take at this point or during the
immediate future?
a)
b)
c)
d)
Corrective action
Risk audit
Technical performance measurement
Earned value management
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47. You are the project manager of a Project. In this project you decided to create a
contingency response based on the performance of the project schedule. If the project
schedule variance is greater than $10,000 the contingency plan will be implemented.
What is the formula for the schedule variance?
a)
b)
c)
d)
SV=EV/PV
SV=PV-EV
SV=EV/AC
SV=EV-PV
48. Which process in the risk management addresses probability and impact parameters?
a)
b)
c)
d)

Monitoring and Control Risks
Plan Risk Responses
49. You are the project manager of a Project. During risk identification and the subsequent
risk analysis process you identified a risk with a high probability and high impact for the
project. You and the stakeholders agree that the project management plan should be
changed to eliminate the risk threat entirely. What risk response has been used in this
instance?
a)
b)
c)
d)
This is the risk mitigation response.

This is the avoidance risk response.
This is the transference risk response.
This is a scope change and not a risk response.
50. You work as a project manager and determining which risks can affect the project.
Which of the following inputs of the identify risks process is useful in identifying risks and
provides a quantitative assessment of the likely cost to complete the scheduled
activities?
a)
b)
c)
d)
Cost management plan

Activity cost estimates
Activity duration estimates
51. You are the project manager and working with the project team to create a plan to
document the procedures to manage risks throughout the project. This document will
define how risks will be identified and quantified. It will also define how contingency
plans will be implemented by the project team. What document is Project team creating
in this scenario?
a)
b)
c)
d)
Resource management plan

Project plan
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52. You are the project manager and discussing some of the project risks and the issues that
have happened in the project. you sent the status report to customer through fax for their
review. Based on the standard communication model, which component in this scenario
is the decoder?
a)
b)
c)
d)
Project customer
Telephone wire
PM
Project customer's fax machine
53. You are the project manager and the Management has told you that you must
implement an agreed-upon contingency response if the cost performance index in his
project is less than 0.90. Consider that your project has a budget at completion of
$275,000. His project is 65 percent complete and he has spent $175,000 to date.
However, the project scheduled to be 78 percent complete. What is the cost
performance index for this project to determine if the contingency response should
happen?
a)
b)
c)
d)
1.02
0.96
0.9
0.89
54. You work as a project manager for the COO of your company, on several risks within the
project. You understand that through qualitative analysis you have identified 80 risks that
have a low probability and low impact as the project is currently planned. Your concern,
however, is that the impact and probability of these risk events may change as
conditions within the project may change. You would like to know where will you
document and record these 80 risks that have low probability and low impact for future
reference. What should you do?
a) Risks with low probability and low impact are recorded in a watch list for future
monitoring.
b) All risks, regardless of their assessed impact and probability, are recorded in the risk log.
c) Risk identification is an iterative process so any changes to the low probability and low
impact risks will be reassessed throughout the project life cycle.
d) All risks are recorded in the risk management plan.
55. There are four inputs to the Control Risks process. Which one of the following will NOT help
you, the project manager, to prepare for risk monitoring and controlling?
a)
b)
c)
d)
Work Performance data

Risk register
Change requests
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56. A part of a project deals with hardware. As a project manager, you have decided to hire
a company to deal with all hardware related activities on the project. Which type of risk
response is this?
a)
b)
c)
d)
Exploit
Mitigation
Transference
Avoidance
57. Which of the following response is usually followed for procurement management?
a)
b)
c)
d)
Exploiting
Mitigation
Sharing
Acceptance
58. Which of the following is not an indicator to prioritize the risk?

a)
b)
c)
d)
Cost of the project

Risk rating
Warning signs
Symptoms
59. Which of the following processes is described in the statement below? 'This is the process
of numerically analyzing the effect of identified risks on overall project objectives.'
a)
b)
c)
d)
Identify Risks
Monitor and Control Risks
60. A project is forty percent complete and it appears that some risk events are going to
happen in the project that will have an adverse affect on the project. You create a
change request regarding the risks. Is this a valid response?
a) No, change requests should not address risks, only risk response strategies should be issue
b) No, change requests should not address pending risks, but only scope changes.
c) Yes, change requests can be recommended for corrective actions for contingency
plans.
d) Yes, change requests can ask for additional funds to pay for the risk impact.
61. Due to the risk in the project there is a requirement of additional funding requirement and
by using this funding the project manager and the team wants to change the component
of a project. What component of the change control system would review the proposed
changes' impact on the features and functions of the project's product?
a)
b)
c)
d)
Scope change control system

Cost change control system
Configuration management system
Integrated change control
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62. Your current project is a high priority and high profile project within your organization.
You want to identify the project stakeholders that will have the most power in relation to
their interest on your project. This will help you plan for project risks, stakeholder
management and ongoing communication with the key stakeholders in your project. In
this process of stakeholder analysis, what type of a grid or model should you create
based on these conditions?
a)
b)
c)
d)
Stakeholder power/interest grid

Influence/impact grid
Salience model
63. You are monitoring the project performance. You want to make a decision to change
the project plan to eliminate a risk in order to protect the project objectives. Which of the
following strategies will you use to tackle the risk?
a)
b)
c)
d)
Risk mitigation
Risk avoidance
Risk acceptance
Risk transference
64. You are working with CIO to discuss a discount the vendor has offered on the project
based on the amount of materials that has been ordered. After review of the offer, you
agree that while the project may qualify for the discounted materials, the savings is
nominal and the project team would not necessarily pursue the savings. You document
this positive risk response in the risk register. What risk response is this?
a)
b)
c)
d)
Enhance
Transference
Share
Acceptance
65. What is the use of including cost management plan to carry quantitative risk analysis
process?
a) The project's cost management plan can help you to determine what the total cost of
the project is allowed to be.
b) The project's cost management plan provides direction on how costs may be changed
due to identified risks.
c) The project's cost management plan provides control that may help determine the
structure for quantitative analysis of the budget.
d) The project's cost management plan is not an input to the quantitative risk analysis
process.
66. You and your project team are identifying the risks that may exist within your project.
Some of the risks are small risks that won't affect your project much if they happen. What
should you do with these identified risk events?
a) All risks must have a valid, documented risk response.
b) These risks can be accepted
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c) These risks can be added to a low priority risk watch list.
d) These risks can be dismissed
67. You are the project manager of a new project in your organization. You and the project
team have identified the project risks, completed risk analysis, and are planning the most
appropriate risk. Which of the following tools is most effective to choose the most
appropriate risk response?
a)
b)
c)
d)
Cause-and-effect diagrams
Project network diagrams
Delphi Technique
Decision tree analysis
68. You are working with your project team to define contingency plans for the risks within
your project. One of your project team members, ask what a contingency plan is. Which
of the following statements best defines what a contingency response is?
a)
b)
c)
d)
Some responses are designed for use only if certain events occur.
Some responses have a cost and a time factor to consider for each risk event.
Some responses must counteract pending risk events.
Quantified risks should always have contingency responses.
69. You are dealing with high profile and high risk project when it comes to stakeholder
engagement management. Who is ultimately responsible to meet the stakeholder
expectations in this case?
a)
b)
c)
d)
Project risk assessment officer

Project management office
Project sponsor
Project manager
70. During which part of the risk management process, the risk categorization should be
done?
a)
b)
c)
d)
Create work breakdown structure process

Perform qualitative risk analysis
Risk identification process
Define scope process
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71. In the table given below, if Risk D happens in this project, how much will be left in the
contingency reserve?
Risk
Probability
Impact
42%
-100000
9%
-850000
16%
-750000
30%
-50000
a)
b)
c)
d)
72.
253500
238500
268500
-238500
The output of quantitative risk analysis is project document updates. During this activity
which of the following updates will not happen?
a)
b)
c)
d)
Trends in quantitative risk analysis

Risk probability-impact matrix
Prioritized list of quantified risks
Probabilistic analysis of the project
73. A PM and the project team have identified a significant risk in the project during the
qualitative risk analysis process. Sponsor is familiar with the technology that the risk is
affecting and proposes a solution to the risk event. PM tells Sponsor that he has noted his
response, but the risk really needs to pass through the quantitative risk analysis process
before creating responses. Sponsor disagrees and ensures PM that his response is most
appropriate for the identified risk. Who is correct in this scenario?
a) Sponsor is correct. Sponsor is familiar with the technology and the risk event so his
response should be implemented
b) Sponsor is correct. Not all risk events have to pass the quantitative risk analysis process to
develop effective risk responses.
c) PM is correct. All risks of significant probability and impact should pass the quantitative
risk analysis process before risk responses are create
d) PM is correct. Because the project manager can determine the correct procedures for
risk analysis and risk responses. In addition, she has noted the risk response that Sponsor
recommends.
74. Which is a special type of bar chart used in sensitivity analysis for comparing the relative
importance of the variables?
a)
b)
c)
d)
Fishbone
Influence
Tornado
Cause and effect
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75. You as the project manager need a method to create a quick and simple approach to
risk identification to communicate the project risk with the stakeholders. Which one of the
following approaches to risk identification should you choose to provide a quick and
simple listing of the project risks?
a)
b)
c)
d)
Delphi Technique
Checklist analysis
Brainstorming
76. You are the project manager of a project and the team reports that they have found a
way to complete the project work for less cost than what was originally planned. The
project team presents a new software that will help to automate the project work. While
the software and the associated training costs $25,000 it will save the project nearly
$65,000 in total costs. You agree to the software and changes to the project
management plan accordingly. What type of risk response has been used in this
instance?
a)
b)
c)
d)
Avoidance
Exploiting
Accepting
Enhancing
77. You are the project manager and identified several risks within the project and created a
risk contingency reserve of $45,000 total. Your project is nearly complete and many of
the risks have not happened in the project. What should you do with the funds in the
contingency reserve?
a) The funds remain in the contingency reserve until all of the risks have pass
b) The funds for the risks that have passed and have not happened are transferred to the
project budget.
c) The funds for the risks that have passed and have not happened are release
d) The funds remain in the contingency reserve until the project is close
78. A project team member in your project is adding changes to the software interface for
the software that your project is creating. Because of this, new risks have entered into the
project. You decide that these additions should be removed from the project even if it
takes extra time and money to remove the features. What are these risk laden features
called?
a)
b)
c)
d)
Gold plating
Scope creep
Negative risks
Corrective actions
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79. You have identified a risk event that your organization could manage internally or
externally. If you manage the event internally it will cost your project $600,000 and an
additional $10,000 per month the solution is in use. A vendor can manage the risk event
for you. The vendor will charge $550,000 and $11,000 per month that the solution is in use.
How many months will you need to use the solution to pay for the internal solution in
comparison to the vendor's solution?
a)
b)
c)
d)
Approximately 11 months
80. You are in the Identify Risks process. You have to create the risk register. Which of the
following are included in the risk register?
a)
b)
c)
d)
List of mitigation techniques

List of key stakeholders
List of identified risks and List of potential responses
List of potential responses
81. This project has a budget of $350,000. You are working with project team and subject
matter experts to begin the risk response planning process. When the project manager
begins the plan risk response process, which two inputs do you need?
a)
b)
c)
d)
Risk register and the risk response plan

Risk register and power to assign risk responses
Risk register and the risk management plan
Risk register and the results of risk analysis
82. Which of the following inputs provide a good estimate with respect to schedule so that
the risk factors or the tolerance of the schedule completion can be considered?
a)
b)
c)
d)
Activity duration estimates

Schedule management plan
Activity cost estimates
83. While executing the project, the customer says that he wants the delivery ahead of the
schedule. To meet this demand as a project manager you decide to crash using internal
resources. What is the risk response you are using?
a)
b)
c)
d)
Enhancing
Opportunistic
Positive
Exploiting
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84. You have completed a round of quantitative risk analysis. You now need to update the
risk register with your findings so that you can communicate the risk results to the project
stakeholders including -management. You will need to update all of the following
information except for which one?
a)
b)
c)
d)
Probabilistic analysis of the project

Probability of achieving cost and time objectives
Risk distributions within the project schedule
Trends in quantitative risk analysis
85. You are working on a software development project which requires highly skilled
technical resource and you don't have such expertise within the organization. So you
decide to outsource it. Which of the following risk response are you using to come out of
the risk?
a)
b)
c)
d)
Acceptance
Avoidance
Mitigation
Transference
86. Which of the following comes under both opportunity and threat risk response?
a)
b)
c)
d)
Acceptance
Sharing
Transference
Mitigation
87. You communicate project status to your stakeholders, you are going to create a
stakeholder register. All of the following information should be included in the
stakeholder register except for which one?
a) Assessment information of the stakeholders' major requirements, expectations, and
potential influence
b) Stakeholder classification of their role in the project
c) Identification information for each stakeholder
d) Stakeholder management strategy
88. A project manager is executing one year project with a budget of $1000,000. At the end
of six months, the project has completed about 75% of the work. The actual cost incurred
to complete this 75% is about 800,000. The senior management needs to know the
schedule performance index and cost performance index. What is the report considering
the risk associated with the project?
a)
b)
c)
d)
The CPI is -$200,000 (which is risk) and the SPI is $750,000.

The CPI is 1.5 and the SPI is zero (which is risk)
The CPI is 0.9375 (which is risk) and the SPI is 1.5
The CPI is 1.5 and the SPI is 0.9375(Which is risk)
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89. You are currently performing quantitative risk analysis. The tool and technique you are
using is simulation where the project model is computed many times with the input
values chosen at random for each iteration. The goal is to create a probability distribution
from the iterations for the project schedule. What technique will you use with this
simulation?
a)
b)
c)
d)
Pareto modeling
Expected Monetary Value
Analogous modeling
Monte Carlo Technique
90. You are the project manager and you will use the information from the past project to
help yourself and the project team to identify the risks that may be present in the project.
Management agrees that this checklist approach is ideal and will save time in the
project. Which of the following statement is most accurate about the limitations of the
checklist analysis approach?
a) The checklist analysis approach is fast but it is impossible to build and exhaustive
checklist.
b) The checklist analysis approach saves time, but can cost more.
c) The checklist analysis approach only uses qualitative analysis.
d) The checklist is also known as top down risk assessment.
91. You have completed the risk identification process for the initial phases of your project.
As you begin to document the risk events in the risk register what additional information
can you associate with the identified risk events?
a)
b)
c)
d)
Risk potential responses

Risk schedule
Risk owner
Risk cost
92. You are collecting the risk related information from different stakeholder unanimously.
Which of the techniques you are using?
a)
b)
c)
d)
Delphi
Expert judgment
SWOT analysis
Brainstorming
93. You have identified a risk that has a low probability of happening, but the impact of the
risk event could save the project and the organization with a significant amount of
capital. You assign an expert to the risk event and instruct her to research the time, cost,
and method to improve the probability of the positive risk event. Expert then
communicates the risk event and response to management. What risk response has
been used here?
a) Sharing
b) Transference
c) Enhance
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d) Exploit
94. You are working on a project which involves heating of the materials. If the material
overheats, there is a chance of the materials becoming scrap and resulting in wastage.
This results in the risk of increasing the budget. To avoid this, you decide to design an
automation tool which will alert people if it touches a certain degree. With reference to
the problem statement what are we referring to alert as?
a)
b)
c)
d)
Risk response
Risk event
Risk trigger
Risk identification
95. A team member does not understand why you need to complete qualitative risks
analysis. You explain that qualitative risks analysis helps you determine which risks need
additional analysis. There are also some other benefits that qualitative risks analysis can
do for the project. Which one of the following is NOT an accomplishment of the
qualitative risk analysis process?
a)
b)
c)
d)
Corresponding impact on project objectives

Time frame for a risk response
Prioritization of identified risk events based on probability and impact
Cost of the risk impact if the risk event occurs
96. When does the Identify Risks process take place in a project?
a)
b)
c)
d)
At the Planning stage.

Throughout the project life-cycle.
At the Initiating stage.
At the Executing stage.
97. You are the project manager and working in Japan which is prone to earthquake. As
part of the project plan you and the project team acknowledge the possibility of
earthquake and the damage that could have on the project's deliverables, the schedule
of the project, and the overall cost of the project. You and the project stakeholders
acknowledge the risk of the earthquake, go on planning the project as if the risk is not
likely to happen. What type of risk response is you are using?
a)
b)
c)
d)
Active acceptance
Passive acceptance
Avoidance
Mitigation
98. You are the project manager of a large project that will last four years. In this project, you
would like to model the risk based on its distribution, impact and other factors. There are
three modeling techniques that a project manager can use to include both eventoriented and project-oriented analysis. Which modeling technique does NOT provide
event-oriented and project-oriented analysis for identified risks?
a) Sensitivity analysis
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b) Jo-Hari Window
c) Expected monetary value
d) Modeling and simulation
99. This project has a budget of $500,000 and is expected to last 18 months. In this project,
you have identified several risk events and created risk response plans. In what project
management process group will you implement risk response plans?
a)
b)
c)
d)
Executing
Planning
Monitoring and Controlling
In any process group where the risk event resides
100.
Fill in the blank with an appropriate phrase. --------is the study of how the
variation (uncertainty) in the output of a mathematical model can be apportioned,
qualitatively or quantitatively, to different sources of variation in the input of a model.
a)
b)
c)
d)
Sensitivity analysis
System or process flowcharts
Cause and effect diagrams
Influence diagrams
101.
You are working on a tool which helps in identifying bottlenecks and
redundancies for a set of activities which may help in finding risks along with
stakeholders. Which tool helps in identifying the risks?
a)
b)
c)
d)
Predecessor and successor diagramming

System or process flowcharts
Cause and effect diagrams
Influence diagrams
102.
You are the project manager for a project that will last six months and has a
budget of $580,000. In this project a high-risk has been identified with the new materials
the project will be using. You would like to assign one person, X, to be responsible to
monitor this risk. You assign X the authority to respond to the risk event if it appears in the
risk events that is likely to happen. In addition, you hire a consultant to work with X on this
area of the project. In this instance, who is the risk response owner?
a)
b)
c)
d)
You, because he is the project manager

X, because she has the authority to respond to the risk event
X and the consultant are the risk owners
The consultant working with X, because this is transference
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103.
A project is running and you are the project manager. There are 76 stakeholders
in the project and you need to determine what is the possible number of communication
channels which can be helpful in identification of risk considering the project manager
communication management overhead. What is the number?
a)
b)
c)
d)
156
2850
78
6084
104.
You are working for a project and there is a change request from one of the
stakeholders. If you implement this change request, it calls for increase in the budget and
timeline. So which process are you going to follow to make it happen?
a)
b)
c)
d)
Configuration management system

Scope change control system
Change log
105.
You are working with project team to complete the quantitative risk analysis
process as a part of risk management planning. You understand that once the
quantitative risk analysis process is complete, the process needs to be completed again
in at least two other times in the project. When will the quantitative risk analysis process
need to be repeated?
a) Quantitative risk analysis process will be completed again after the cost management
planning and as a part of monitoring and controlling.
b) Quantitative risk analysis process will be completed again after new risks are identified
and as part of monitoring and controlling.
c) Quantitative risk analysis process will be completed again after the risk response planning
and as a part of monitoring and controlling.
d) Quantitative risk analysis process will be completed again after the plan risk response
planning and as part of procurement.
106.
You are working in a chemical industry where no safety measures are taken. So
there is a risk associated with the organization and the project which they undertake.
Which type of risk is this?
a)
b)
c)
d)
Pure risk
Residual risk
Secondary risk
Primary risk
107.
a)
b)
c)
d)
Which risk response allows you to reduce the impact of negative risk?
Avoidance
Exploit
Transference
Mitigation
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108.
You have established quarterly risk management meetings. Which of the
following is not a component of a risk management meeting?
a)
b)
c)
d)
Assessing the overall status of risks in the project

Review of risk responses
Assessment or risk
The availability of the individual
109.
a)
b)
c)
d)
If risk Y happens how much you will be left with?

Risk
Probability
Impact
25%
-$10,000
40%
-$2,000
10%
-$20,000
-5300
5300
-800
3300
110.
You are about to start the qualitative risk analysis process for the project and you
need to determine the roles and responsibilities for conducting risk management. Where
can you find this information?
a)
b)
c)
d)
Enterprise environmental factors

Risk register
Staffing management plan
111.
While conducting qualitative risk analysis for the identified risks, you are able to
rank the risk in terms of high, medium and low to rank them. Which are the other project
objectives you need to consider while doing this?
a)
b)
c)
d)
Risks may be listed by the additional analysis and response

Risk may be listed by the responses in the near-term
Risks may be listed by priority separately for schedule, cost, and performance
Risks may be listed by categories
112.
Which of the following processes involves choosing the alternative strategies,
executing a contingency or fallback plan, taking corrective action and modifying the
project management plan?
a)
b)
c)
d)
Control risk
Configuration Management
Integrated Change control
Scope Change control
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113.
The project manager introduced testing as one of the key measures to avoid any
defects which may come from customer usage. Which of the following response is
considered?
a) Mitigation
b) Enhance
c) Transference
d) Avoidance
114.
You are executing a budgeted project and in between the project, the
organization informs all the project managers saying that there is no scope for increasing
the budget as there is a tight situation from economy perspective. You are able to find an
opportunity from which you are able to save about $10000. What is the response here
which is most suited?
a)
b)
c)
d)
Share
Mitigation
Exploit
Enhance
115.
What is the best technique you follow when the risk are of very low priority in
nature?
a)
b)
c)
d)
These risks should be accepted

These risks should be placed on a watch list for future monitoring.
These risks should be identified, but dismissed
These risks should be placed in the risk register.
116.
You identified a project risk that could injure project team members. You don't
want to accept any risk where someone could become injured on this project so you
hire a professional vendor to complete this portion of the project work. This workaround
to the risk event is known as what type of risk response?
a)
b)
c)
d)
Acceptance
Transference
Mitigation
Avoidance
117.
As a project manager of a large project in his organization, PM needs to begin
planning the risk management plan with the project team and key stakeholders. Which
plan risk management process tool and technique should PM use to plan risk
management?
a)
b)
c)
d)
Variance and trend analysis

Information gathering techniques
Planning meetings and analysis
Data gathering and representation techniques
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118.
After conducting the risk response process, you updated assumption log and
changed requests as part of project document updates. Which of the other parameter,
will you update from this action?
a)
b)
c)
d)
Scope statement
Lessons learned
Risk Breakdown Structure
Technical documentation
119.
a)
b)
c)
d)
What is the meaning of residual risk?
It is a risk that can not be addressed by a risk response.

It is a risk that will remain no matter what type of risk response is offered
It is a risk that remains because no risk response is taken.
It is a risk that remains after planned risk responses are taken.
120.
You are working with two subject matter experts and his project team to
complete the risk assessment technique. There are approximately 47 risks that have a
low probability and a low impact on the project. Which of the following answers best
describes what you should do with these risk events?
a) The low probability and low impact risks should be added to a watch list for future
monitoring.
b) Because they are low probability and low impact, the risks can be dismissed
c) The low probability and low impact risks should be added to the risk register.
d) Because they are low probability and low impact, Stephen should accept the risks.
121.
You are considering schedule management plan as an input when you are
conducting the analysis from the quantitative perspective. Why should this subsidiary
plan be considered?
a) PM will schedule when the identified risks are likely to happen and affect the project
schedule.
b) PM will utilize the schedule controls and the nature of the schedule for the quantitative
analysis of the schedule.
c) PM will use the schedule management plan to schedule the risk identification meetings
throughout the remaining project.
d) PM will utilize the schedule controls to determine how risks may be allowed to change
the project schedule.
122.
The team identified a risk which can impact the project in terms of the delivery.
What should be the best action by the project manager or the team in this case?
a)
b)
c)
d)
Add the identified risk to a quality control management control chart.

Add the identified risk to the issues log.
Add the identified risk to the risk register.
Add the identified risk to the low-level risk watch list.
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123.
a)
b)
c)
d)
What is the best approach for defining the urgency assessment?
Historical information
Qualitative risk analysis
Quantitative analysis
Rolling wave planning
124.
What is the effect of fast tracking when you are using schedule compression
technique?
a)
b)
c)
d)
Resources
Costs
Communication
Risks
125.
PM is the project manager of a high-profile project for her organization. This
project has 124 stakeholders from across the organization and many of the stakeholders
have high demands and expectations for the project. PM will need several pieces of
project information as she begins to communicate and manage the stakeholder
expectations. Which of the following inputs of the manage stakeholder expectations
process directly addresses the risks that could affect the project and must be
communicated to the project stakeholders?
a)
b)
c)
d)
Change log
Low-level risks watch list
Issue log
126.
You are the project manager of a project . Your project sponsor, has requested
that department manager, from the Risk Management Department, will work with you to
determine the effectiveness of the risk responses. Department manager and project
sponsor are concerned that some of the risks within PM's project may not be addressed
in detail. In this scenario, who is responsible for ensuring that risk audits are performed at
an appropriate frequency throughout the project?
a)
b)
c)
d)
Department Manager
Project sponsor
The project team
Project Manager
127.
You are working with the project stakeholders to begin the qualitative risk analysis
process. Which of the following inputs will be needed for the qualitative risk analysis
process in your project?
a)
b)
c)
d)
Organizational process assets

Scope Baseline
Risk register
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128.
You are the project manager of a project which has a project budget of
$567,000.One of your stakeholders, has introduced a scope change request that will
likely have an impact on the project costs and schedule. Stakeholder assures you that
he will pay for the extra time and costs associated with the risk event. You tell
stakeholder that the change request may affect more areas of the project than just time
and cost and that you are worried about the additional risks the change request will
bring. What project management component is responsible for evaluating a change
request and its impact on all of the project management knowledge areas?
a)
b)
c)
d)
Project change control system

Risk analysis
Configuration management
129.
You are the project manager and in the current project the organization has a
very low tolerance for risk events that will affect the project schedule. Management has
asked you to consider the affect of all the risks on the project schedule. What approach
can you take to create a bias against risks that will affect the schedule of the project?
a) Create an overall project rating scheme to reflect the bias towards risks that affect the
project schedule.
b) Filter all risks based on their affect on schedule versus other project objectives.
c) Have the project team pad their time estimates to alleviate delays in the project
schedule.
d) Shift risk-laden activities that affect the project schedule from the critical path as much
as possible.
130.
You are the project manager and in your project there are several work
packages that deal with electrical wiring. Rather than managing the risk internally you
have decided to hire a vendor to complete all work packages that deal with electrical
wiring. By removing the risk internally to a licensed electrician you feel more comfortable
with project team being safe. What type of risk response has Adrian used in this
example?
a)
b)
c)
d)
Avoidance
Mitigation
Acceptance
Transference
131.
You are the project manager of a Project. One of the risks your project team has
identified is too dangerous for the project team to manage internally so you hire a
vendor to complete this portion of the project and to manage the identified risk. What risk
response have you used in this instance?
a)
b)
c)
d)
Transference
Avoidance
Contractual
Mitigation
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132.
In spite of taking the action of implementing mitigation risk response, the risk
occurred. What should be the next course of action?
a)
b)
c)
d)
Mitigation management plan

Mitigation plan
Fallback plan
Risk response plan
133.
As a project manager for the risk management you have identified many risk
management meetings while engaging the stakeholders during the course of the
project. How does this help? Pick up the best choice.
a) The iterative meetings allow the project manager and the risk identification participants
to identify newly discovered risk events throughout the project.
b) The iterative meetings allow all stakeholders to participate in the risk identification
processes throughout the project phases.
c) The iterative meetings allow the project manager to discuss the risk events which have
passed the project and which did not happen.
d) The iterative meetings allow the project manager to communicate pending risks events
during project execution.
134.
You are the project manager for a construction project. The project includes a
activity that involves very high financial risks. You decide to insure processes so that any
mishap can be compensated. Which type of strategies have you used to deal with the
risks involved with that particular work?
a)
b)
c)
d)
Mitigate
Avoid
Accept
Transfer
135.
You are the project manager of a software development project. In the early
stages of planning, you and the stakeholders operated with the belief that the software
they were developing would work with their organization's current computer operating
system. Now that the project team has started developing the software it has become
apparent that the software will not work with nearly half of the organization's computer
operating systems. The incorrect belief you had in the software compatibility is an
example of what in project management?
a)
b)
c)
d)
Issue
Assumption
Risk
Constraint
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136.
You are the project manager handling a Project. Management wants to know
how often your risk identification process will occur during the project. Considering that
your project is scheduled to last one year and involves five distinct phases, how often
should risk identification take place?
a)
b)
c)
d)
Monthly
Once per project life cycle phase
Quarterly
Vary depending on the situations within the project
137.
You began the quantitative risk analysis process. Which of the following inputs will
be needed for the quantitative risk analysis process in your project? Each correct answer
represents a complete quantitative risk analysis process in the project.
a)
b)
c)
d)

Project scope statement
Risk register
138.
You look for new risks and erase the obsolete risks. Which process will help in this
activity?
a)
b)
c)
d)
Risk planning
Risk identification
Control risks
Risk analysis
139.
You are engaging the stakeholders so that they can suggest which are the inputs
required to carry out quantitative risk analysis. Which are the input for quantitative risk
analysis?
a) You will need the risk register, risk management plan, permission from the functional
manager, and any relevant organizational process assets.
b) You will need the risk register, risk management plan, cost management plan, schedule
management plan, enterprise environmental factors and any relevant organizational
process assets.
c) You will need the risk register, risk management plan, outputs of qualitative risk analysis,
and any relevant organizational process assets.
d) Quantitative risk analysis does not happen through the project manager in a functional
structure.
140.
The stakeholders are having ambiguity about the difference between causes and
risk events. You are managing them and engaging them by explaining the difference.
According to you, which of the following is NOT an example of a cause for a project risk?
a)
b)
c)
d)
Limited team members to complete the project work

Quality assurance programs within the company
Work permit requirements
Schedule constraints on the project
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141.
In a given project EV=1076000 and PV is 1345000. What is the schedule variance
for this project?
a)
b)
c)
d)
-217500
20 percent
-174000
-269000
142.
You are working on a project and in between the project you encounter a
situation which calls for transition of premises to another new building. Even though this
new building creates a good environment, you are worried about the risk of inefficiency
of the workers during the transition and will not go for it. What is this example for?
a)
b)
c)
d)
Parkinson's Law
Mitigation
Avoidance
Lag Time
143.
You are working with the project stakeholders on the project requirements and
analyzing how risks may affect their project. One of the stakeholders is confused about
what constitutes risks in the project. Which of the following is the correct option that
answers stakeholder confusion?
a)
b)
c)
d)
It is an uncertain event that can affect the project costs.

It is an uncertain event or condition within the project execution.
It is an uncertain event that can affect at least one project objective.
It is an unknown event that can affect the project scope.
144.
You work as a project manager and Management has asked you to work with the
key project stakeholder to analyze the risk events you have identified in the project. They
would like you to analyze the project risks with a goal of improving the project's
performance as a whole. What approach can you use to achieve the goal of improving
the project's performance through risk analysis with your project stakeholders?
a) Focus on the high-priority risks through qualitative risk analysis
b) Involve the stakeholders for risk identification only in the phases where the project directly
affects them
c) Involve subject matter experts in the risk analysis activities
d) Use qualitative risk analysis to quickly assess the probability and impact of risk events
145.
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)
b)
c)
d)
Quantitative risk analysis

Risk conscience
Risk mitigation
Utility function
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146.
You are the project manager for a project and encountered a risk which is very
high in rating and is having expected monetary value of X. After analysis, you come to
know that by investing some money and time, you should be able to reduce the
expected monetary value compared to the figure of X and also the overall impact. This
solution was discussed with all the stakeholders by negotiating and getting agreement
from them. After discussion the stakeholders agreed for adding more resources so that
you can work on the solution. What is the risk response that has been taken here?
a)
b)
c)
d)
Avoidance
Acceptance
Exploit
Mitigation
147.
Which one of the following statements is the most accurate about when project
risk happens?
a)
b)
c)
d)
Project risk can happen at any moment.

Project risk happens throughout the project execution.
Project risk is always in the future.
Project risk is uncertain, so no one can predict when the event will happen.
148.
risk?
Which of the following risk response comes under both opportunity and threat for
a) Avoidance
b) Acceptance
c) Sharing
d) Transference
149.
You are the project manager and discussing some of the project issues that need
to be resolved in the project. You and the project stakeholders come to an agreement
about the risk issues and how they will be resolved. Where should you document this
information for issue resolution?
a)
b)
c)
d)
Project management plan for execution

Lessons learned documentation
Issue log
Risk response plan
150.
You are the project manager for a project. In your organization you must follow
certain enterprise environmental factors that establish the rules for risk management .
One of the policies your project must adhere to requires periodic rapid analysis of risks
within the project. These rapid, cost-effective session must be documented and
performed monthly. What type of analysis are you required to perform according to your
enterprise environmental factors?
a)
b)
c)
d)
Brainstorming
Qualitative analysis
Delphi Technique
Quantitative analysis
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151.
a)
b)
c)
d)
Which of the following is not an output of risk response planning process?
Risk register update under procurement document

Organizational process assets updates
Project management plan update
152.
A project manager must have certain interpersonal skills to communicate with
stakeholders and manage their expectations of the project work. Which of the following
interpersonal skills has been identified as one of the biggest reasons for project success
or failure?
a)
b)
c)
d)
Motivation
Communication
Influencing
Political and cultural awareness
153.
Which of the following documents provide you the information about how the risk
audits have to be carried out?
a)
b)
c)
d)
Risk response plan

Quality management plan
154.
You work as the project manager and have completed the risk analysis
processes for the risk events. You and the project team have created risk responses for
most of the identified project risks. Which of the following risk response planning
techniques will you use to shift the impact of a threat to a third party, together with the
responses?
a) Risk acceptance
b) Risk avoidance
c) Risk transference
d) Risk mitigation
155.
Along with various stakeholders, you are trying to find out the type of projects that
can provide you a well understood risk. From the option given which one provides the
best answer to this question?
a)
b)
c)
d)
Operational work projects

First-of-its kind technology projects
Recurrent projects
State-of-art technology projects
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156.
You are the project manager of a large construction project. You are evaluating
the strengths, weaknesses, opportunities and threats involved in a project by engaging
different stakeholders. In which of the following processes are you on?
a)
b)
c)
d)
Define Scope
Plan Risk Responses
Plan Risk Management
Identify Risks
157.
In one of the projects, the contingency reserve will be applied if the cost
performance index falls below 0.95. And this was agreed with all the stakeholders.
Budget of the project is $500, 000 and is one year project. At the end of 6 months the
project is done with about 40% and actual cost spent is $350,000. What is cost
performance index?
a)
b)
c)
d)
0.9
0.8
250000
150000
158.
You are working as a project manager and is determining how to conduct the risk
management activities for a project. According to the PMBOK, there are six inputs to the
plan risk management process. Which one of the following is NOT an input to this
process?
a)
b)
c)
d)

159.
Which of the following are parts of SWOT Analysis?
a) Opportunities
b) Optimism
c) Weaknesses
d) Threats
160.
You are the project manager for a new project using a technology that has
recently been released and there's relatively little information about the technology.
Initial testing of the technology makes the use of it look promising, but there's still
uncertainty about the longevity and reliability of the technology. You want to consider
the technology factor a risk for her project. Where should you document the risks
associated with this technology so that you can track the risk status and responses?
a)
b)
c)
d)

Risk register
Project charter
Risk low-level watch list
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161.
Sensitivity analysis is a technique for systematically changing parameters in a
model to determine the effects of such changes and is useful for computer modelers for
a range of purposes. Which of the following purposes the sensitivity analysis doesn't
include?
a)
b)
c)
d)
Estimating the average outcome

Model development
Decision making or the development of recommendations for decision makers
Increased understanding or quantification of the system
162.
You are the project manager of a project. In this project a vendor has offered you
a sizeable discount on all hardware if his order total for the project is more than $125,000.
Right now, you are likely to spend $118,000 with vendor. If you spend $7,000 his cost
savings for the project will be $12,500, but he cannot purchase hardware if he cannot
implement the hardware immediately due to organizational policies. You consult with
team, other project managers in the organization, and ask if they need any hardware for
their projects. Team needs hardware and they agree to purchase the hardware through
your relationship with the vendor. What positive risk response has happened in this
instance?
a)
b)
c)
d)
Sharing
Exploiting
Transference
Enhancing
163.
You are working as a project manager and studying the documentation of
planning of a project. The documentation states that there are twenty-eight stakeholders
involved with the project. What will be the number of communication channels for the
project?
a)
b)
c)
d)
378
300
28
250
164.
You are the project manager for your organization. You are working with your
project team to complete the qualitative risk analysis process. The first tool and
technique you are using requires information that you assess the probability. What is
other characteristic of each identified risk in the project?
a)
b)
c)
d)
Impact
Risk owner
Cost
Risk category
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165.
Which of the following domain represent the activities like measuring risk,
evaluating risk response against established metrics and communicating risk response
performance to stakeholders and project team?
a)
b)
c)
d)
Risk Monitoring and Reporting

Risk Strategy and Planning
Stakeholder Engagement
Risk Process Facilitation
166.
Which of the following area looks at the complex web of actors, rules,
conventions, processes, and mechanisms concerned with how relevant risk information
is collected, analyzed and communicated, and how management decisions are taken?
a)
b)
c)
d)
Risk Communication
IRGC
Risk Response Planning
Risk Governance
167.
You are the project manager of a project. In this project you have created a
contingency response that the cost performance index should be less than 0.8. The
project has a budget at completion of $100,000 and is 45 percent complete. The project
has spent $55,000 to reach the 45 percent complete milestone. What is the project's cost
performance index?
a)
b)
c)
d)
1.22
-10000
10000
0.82
168.
If the risk happens with a probability of 60 percent and cost of the impact of
$60,000 , what will be the expected monetary value of this risk event?
a)
b)
c)
d)
Negative $36,000
Zero - the risk event has not yet occurred
Negative $10,000
Negative $54,000
169.
You are the project manager for a project. You and your project team are
working through the quantitative analysis for certain risk events within her project.
According to the enterprise environmental factors the project manager is to perform
sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is
the sensitivity analysis?
a)
b)
c)
d)
It determines which risk events have the most potential impact on the project.
It uses round of anonymous surveys to predict which events are most likely to happen.
It uses rounds of anonymous surveys to predict probability and impact.
It determines possible combinations of risk events to predict overall project success,
failure, or probability of achieving project objectives.
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170.
In the case of negative risk response or the threat, how many risk responses are
there?
a)
b)
c)
d)
Four
One
Three
Seven
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RMP - Classroom Simulation Tests

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The level of detail is set by historical information.

The events should be entered into the risk management plan.

Risk Management Plan