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PMI-RMP certification is a globally recognized credential that demonstrates a professional's proficiency in risk management. PMI Risk Management Professional certification is ideal for individuals who aspire to advance their careers in project management, and it is also suitable for those who want to enhance their skills in risk management. PMI Risk Management Professional certification exam covers various aspects of risk management, including risk identification, risk assessment, risk response planning, and risk monitoring and control.

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Requirements

The PMI-RMP Certification Exam is designed for those individuals who hold a position of a Project Manager and concentrate on project risk management such as complex environments and large projects. The potential candidates are also required to have high-level knowledge and expertise in risk management. Moreover, the applicants must fulfill some prerequisites before applying for this test. They should have a secondary degree as well as possess 36 months of working experience in project risk management within the last 5 years, and 40 hours of education in this sphere. On the other hand, those applicants who hold a four-year degree, 24 months of working experience in project risk management within the last 5 years, and 30 hours of education in project risk management are eligible for this exam as well.

PMI-RMP certification is an essential certification for professionals who wish to demonstrate their knowledge and skills in risk management. It is a globally recognized certification that enhances the credibility of a professional in the industry. It is highly beneficial for professionals who wish to enhance their career prospects and gain access to valuable resources and tools.

PMI Risk Management Professional Sample Questions (Q17-Q22):

NEW QUESTION # 17
A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asks the risk manager to treat every single risk identified as an extremely high priority.
What should the risk manager do?

A. Perform a sensitivity analysis and determine the correct priority of every identified risk.
B. Mark every identified risk as an extremely high priority and any future risks as a lower priority.
C. Agree with the SME, treat every risk with equal priority, and inform all stakeholders.
D. Ask the project sponsor if every risk in the risk register can have the same priority.

Answer: A

Explanation:
Explanation
According to the PMBOK Guide, 6th edition, Section 11.6.2.1, Sensitivity Analysis, a sensitivity analysis is a technique that helps to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes. A sensitivity analysis can be used to prioritize risks based on their relative effect on the project objectives, such as cost, schedule, quality, or scope. A sensitivity analysis can also help to identify areas where risk response efforts may be most effective. Therefore, the risk manager should perform a sensitivity analysis and determine the correct priority of every identified risk, rather than agreeing with the SME or the project sponsor, or marking every risk with the same or different priority without proper analysis. References: PMBOK Guide, 6th edition, Section 11.6.2.1, Sensitivity Analysis1 The risk manager should perform a sensitivity analysis to assess the impact of each risk on the project objectives. This will help in determining the correct priority of every identified risk, ensuring that resources are allocated effectively and that the most critical risks are addressed first.

NEW QUESTION # 18
SIMULATION
Fill in the blank with an appropriate phrase.
________are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing.

Answer:

Explanation:
Pure risks

NEW QUESTION # 19
A project manager for a predictive project just received a scope change request where additional development is required. What should the risk manager do to support the project manager with this scope change request?

A. Update the risk management plan to reflect the scope change.
B. Evaluate any new risks that are introduced due to the change in scope.
C. Reassess the identified risks that impact the project scope.
D. Update the risk register to identify, analyze, and plan a response for any new risk.

Answer: B

Explanation:
According to the PMBOKGuide, a scope change request is a formal proposal to modify any project document, deliverable, or baseline. It is an output of the Perform Integrated Change Control process, which is the process of reviewing all change requests, approving changes, and managing changes to the deliverables, organizational process assets, project documents, and the project management plan. A scope change request may introduce new risks or affect existing risks on the project, which may impact the project objectives, such as scope, schedule, cost, and quality.
The risk manager should support the project manager with the scope change request by evaluating any new risks that are introduced due to the change in scope. This is because the risk manager is responsible for planning, implementing, and monitoring the risk management activities on the project, as well as communicating and reporting the risk information to the project manager and other stakeholders. The risk manager should use the appropriate risk identification and analysis techniques, such as brainstorming, interviews, checklists, SWOT analysis, cause and effect diagrams, probability and impact assessment, etc., to identify and evaluate the new risks that may arise from the scope change. The risk manager should also document the new risks in the risk register, which is a project document that contains the details of all identified individual project risks and other relevant information.
The other options are not valid for what the risk manager should do to support the project manager with the scope change request:
Update the risk management plan to reflect the scope change: This is not a valid option because the risk management plan is a component of the project management plan, which describes how risk management activities will be structured and performed on the project. It is an output of the Plan Risk Management process, which is the process of defining how to conduct risk management activities for a project. The risk management plan should not be updated to reflect the scope change, but rather to reflect any changes in the risk management approach, methodology, roles and responsibilities, budget, timing, risk categories, definitions, reporting formats, etc. The risk management plan should be updated only when there is a change in the risk management process, not in the project scope.
Reassess the identified risks that impact the project scope: This is not a valid option because reassessing the identified risks that impact the project scope is part of the Monitor Risks process, which is the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project. The risk manager should not reassess the identified risks that impact the project scope before evaluating any new risks that are introduced due to the change in scope. The risk manager should first identify and analyze the new risks, and then reassess the existing risks to determine if they are still valid, relevant, and prioritized.
Update the risk register to identify, analyze, and plan a response for any new risk: This is not a valid option because updating the risk register to identify, analyze, and plan a response for any new risk is a combination of several risk management processes, such as Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, and Plan Risk Responses. The risk manager should not update the risk register to identify, analyze, and plan a response for any new risk in one step, but rather follow the sequential and iterative risk management processes to ensure a comprehensive and consistent risk management approach. The risk manager should also coordinate and communicate with the project manager and other stakeholders when updating the risk register, as well as obtain their approval and input.

NEW QUESTION # 20
You are the project manager for Genpact Inc. You have established quarterly risk management meetings. Which of the following is not a component of a risk management meeting?

A. Assessing the overall status of risks in the project
B. The availability of the individual
C. Review of risk responses
D. Assessment or risk

Answer: B

NEW QUESTION # 21
Several key stakeholders approach the project manager with concerns. The stakeholders have received feedback from local businesses that have reported a reduction in customers because of construction activities at the worksite, and they plan to submit a claim to the municipality to fine the project manager's company.
How should the project manager address this concern?

A. Update the key risks and perform a quantitative risk analysis.
B. Discuss the concern with the local business owners.
C. Adjust construction work hours to after business hours.
D. Evaluate the risk with the team and update the issueing

Answer: D

Explanation:
Explanation
The project manager should evaluate the risk with the team and update the issueing to address the concerns of the stakeholders and local businesses.
This concern is a potential risk that could affect the project's reputation, stakeholder satisfaction, and profitability. The project manager should evaluate the risk with the team and update the issue log, which is a tool for documenting and monitoring the resolution of issues that arise during the project. The issue log should include information such as the issue description, the priority, the owner, the status, and the actions taken. The project manager should also communicate with the stakeholders and the local businesses to address their concerns and seek a mutually beneficial solution. The project manager should not ignore the concern, as it could escalate into a bigger problem. The project manager should not discuss the concern with the local business owners alone, as this could bypass the stakeholders and create more conflicts. The project manager should not update the key risks and perform a quantitative risk analysis, as this is a time-consuming and complex process that may not be necessary for this type of risk. The project manager should not adjust the construction work hours to after business hours, as this could incur additional costs, disrupt the project schedule, and affect the workers' safety and productivity. References: PMI, 2017. A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition. Newtown Square, PA: Project Management Institute, Inc., pp. 115-116, 408-4091

NEW QUESTION # 22
......

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