PMI Risk Management Professional Exam Practice Test

A project team has completed plan risk response activities and has identified three critical risk response plans to major risk events. The responses have been monitored and implemented, with one of the responses presenting the two secondary risks.

What should the risk manager do next?

In a highly dynamic project environment, the project manager is known to have project risks as a permanent agenda item in their periodic project progress meetings. How will this help improve the project's risk management activities? (Choose 3)

A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaired.

What type of risk response is this?

A risk manager has been assigned to an upcoming project. A senior risk manager within the organization recently completed a similar project and has provided a lessons learned document to aid planning efforts for the upcoming project. Upon reviewing the document, the risk manager discovers that the completed project was delivered several months behind schedule and several thousands of dollars over budget. The root cause was determined to be an unforeseen risk trigger that caused several items to be reworked, creating cascading schedule delays and depleting management reserves.

What should the risk manager do to mitigate the chance of the same issues reoccurring?

During project development, a risk manager notices that a major update in the country's regulations might be happening in the upcoming months. These changes will affect the materials used in building some of the components of the final product. The project team is unsure if this risk will affect the project negatively or positively.

Which tool should the project team use to determine this?

In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early completion.

In implementing this plan, which response should the risk manager use?

A risk manager and project team are managing a software system project, which is expected to be completed within 12 months. The project is currently halfway through, and the team has just delivered the second version of the prototype. During the weekly status meeting, a team member reported that an important stakeholder is facing an issue, which will likely result in a change request that is outside the scope of the current prototype.

What should the risk manager advise the team to do first?