PMP (Risk Management) Questions

You have started gathering documents you need to implement a planned response to a realized risk. You need a document that will provide summary information on identified risks, as well as an assessment of the current project risk exposure. What is the input document you need?

A project manager is preparing for a meeting to identify risks associated with the project. As part of the preparations, the project manager is looking for a document that captures a comprehensive list of factors that could either benefit or constrain the project Which of the following would help the project manager the most?

The risk management plan for the project stipulates that the project holds risk review meetings weekly. Which of the following are you least likely to do during these meetings?

A team member is working on a project activity where the outcome did not go as planned, but this outcome was expected as a possibility. Which of the following should the team member consult to know what to do next?

At a planning meeting with the stakeholders, an executive requested to see a top-down representation of all types of uncertainty for the project. Which of the following should the project manager use to categorize sources of project uncertainties to address the executive's request?

A project manager is leading an infrastructure development project and is just starting the process of prioritizing individual project risks for further analysis.  A stakeholder has expressed concern that the existing information about individual project risks may not be accurate and reliable. What is the best course of action?

The project keeps running into similar errors. The project manager is surprised, as she had plans in place to mitigate these errors. What is most likely the root cause of these errors?

You and your project team have recently discovered a negative risk to the project and determined that it could result in a loss of S50,000 if it occurs. You have also determined that the probability of this risk occurring is 50%. What is the expected monetary value for this risk?

A software development project is running behind schedule because the velocity of the project team has been slowed down by a higher than anticipated complexity of the technology used to develop the product. To bring the project back into alignment with its objectives, the project manager implements the planned response by fast tracking some of the testing activities. What should the project manager do next?

A project manager is in the process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness.  Which of the following is least likely to be updated as a result of this process?

As a project manager, you will need the assistance of other stakeholders in order to identify the risks associated with your project. You want to determine who are the individuals that might participate in the process of identifying risks to the project, as well as those who are available to act as risk owners. Where should you look?

During project planning, the project manager involves the product owner and scrum team in the Plan Risk Responses process. A critical product feature is under discussion, and no one is certain that the feature can even be developed given the current technology. The project manager adds this risk to the risk register and indicates it as exit criteria in the project charter. What is the best risk response strategy to deal with this threat?

Halfway into a software development project, your most experienced programmer resigns leaving only two programmers. The previously planned response to this risk is to acquire a programmer from another project manager, with whom you are not well acquainted.  What is the best way for you to handle this situation?

As a project manager, you are in the process of prioritizing individual project risks. The project team has just completed a probability and impact matrix, and you have decided to consider other characteristics of risk when prioritizing individual project risks. What should you do next?

A project is chartered to install an IT data center in a foreign country where the political climate is highly unstable. To address the threat to the data center due to the political instability, the project manager has negotiated with the U.S. State Department to establish the data center in a high-security basement of the U.S. Consulate.  This is an example of: