PMI Risk Management Professional - PMI-RMP Exam Practice Test

A project manager has just been assigned to a new project. The project manager has been tasked by the project sponsor to ensure the project risks are closely managed. The project manager starts with developing the risk management plan.
What is the expected outcome of developing the risk management plan?

A project team ' s manager is responsible for delivering a specific initiative for the organization. They are preparing for a monthly meeting where the manager will present on the current state of this initiative. The agile project lead sends the manager the following email with the current initiative status (Refer to the email exhibit).
How many total story points is the entire initiative?

A project team is overseeing the construction of a new office building. The project is complex, involving multiple contractors, regulatory requirements, and a tight schedule. During a team meeting, the risk manager realizes that a formal risk identification exercise has not yet been conducted.
Given the project ' s complexity, what should the risk manager do?

it typically takes 5 hours to perform a complete home inspection. If there are unforeseen risk factors, it can take up to 7 hours to finish the inspection. The earliest the project team has ever finished an inspection is in 3 hours.
Using the project evaluation and review technique (PERT) to estimate duration how many hours should the project manager plan to schedule the task taking into account all the positive and negative risk factors?

A project team has completed the risk response plan for a newly identified major project risk. Some team members argue the plan does not totally eliminate the risk, considering the effort required to implement it, and feel the planned response should be thrown out altogether.
What should the risk manager do in this situation?

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?

When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

The project manager reviews project risks with the risk manager to update, monitor, and close risks in the risk register. The project manager determines one of the risks has a residual risk.
How should the risk manager document the impact of the residual risk?

A risk manager is tasked with establishing a risk management strategy for a multinational project with varying regulations and stakeholder priorities. The team is divided on how to approach risk management. Some suggest implementing rigid procedures to ensure consistency across regions, while others advocate for a flexible approach to adapt to the dynamic nature of local risks. Meanwhile, the sponsor emphasizes the need for a strategy that aligns with the overall project objectives.
What should the risk manager do?