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PMI Risk Management Professional Sample Questions (Q46-Q51):

NEW QUESTION # 46
A Scrum team has recently lost its product owner to another team. A new product owner has been hired for the Scrum team. This product owner is currently new to the project, unfamiliar with the team's practices, and does not have a full grasp of the product users. After a few sprints, the product owner is receiving constructive feedback from both internal and external stakeholders related to the direction of the product and its current challenges.
What can the product owner do to improve the product's perception among stakeholders and ensure the team understands the product vision?(Choose 2)

A. Re-assess the product goal, place it on the product backlog, and explain it to the team.
B. Create sprint goals and communicate them at the sprint planning event.
C. Invite stakeholders to the sprint retrospective to brainstorm with the team improvements.
D. Invite more stakeholders to the daily scrum meetings to voice their opinion of the product.
E. Invite product teams to more frequent reviews to observe the team's work and encourage feedback.

Answer: A,B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
A newly appointed product owner must ensureclarity in the product visionand alignment with both the team and stakeholders. Since they are unfamiliar with the project, the best approach is toreassess the product goal andset clear sprint goalsto guide the team effectively.
Option A: Re-assess the product goal, place it on the product backlog, and explain it to the team.
(Correct#)
* Theproduct goaldefines the long-term objective of the Scrum team and is a keyelement of the product backlog.
* By revisiting and clarifying this goal, the product owner ensures that the team has a cleardirectionand understands thevalue being delivered.
* TheScrum Guide (2020)states:"The Product Goal describes a future state of the product which can serve as a target for the Scrum Team to plan against."
* ThePMI Agile Practice Guide (2017, p. 52)highlights that a strong product vision aligns stakeholders and enhances transparency.
Option C: Create sprint goals and communicate them at the sprint planning event. (Correct#)
* Sprint goals provideshort-term directionand help the team stay aligned with stakeholder expectations.
* Communicating these goals duringSprint Planningensures that everyone is on the same page regarding priorities.
* According to theScrum Guide (2020):"The Sprint Goal is the single objective for the Sprint. Although the Sprint Goal is a commitment by the Developers, it provides flexibility in terms of the exact work needed to achieve it."
* ThePMI Agile Practice Guide (2017, p. 61)also states that sprint goalsimprove transparency and trustbetween the product owner, team, and stakeholders.
Why Other Options Are Incorrect:
Option B: Invite more stakeholders to the daily Scrum meetings to voice their opinion of the product.
(Incorrect#)
* TheDaily Scrum is a time-boxed eventmeant for thedevelopment team onlyto inspect progress and plan the next steps.
* Including stakeholders in theDaily Scrumwould disrupt its purpose and lead to inefficiency.
* TheScrum Guide (2020)states:"The Daily Scrum is a 15-minute event for the Developers of the Scrum Team. It is not intended as a status meeting for stakeholders." Option D: Invite product teams to more frequent reviews to observe the team's work and encourage feedback. (Incorrect#)
* Sprint reviews already include stakeholders to inspect the increment and provide feedback.
* Increasing the frequency of reviewscould create unnecessary overheadand disrupt the team's workflow.
* TheScrum Guide (2020)recommendsone sprint review per sprintrather than additional reviews.
Option E: Invite stakeholders to the sprint retrospective to brainstorm with the team improvements.
(Incorrect#)
* Sprint retrospectives areinternal team meetingswhere the Scrum Team reflects on their processes and identifies improvements.
* Stakeholders should provide feedback duringSprint Reviews, not retrospectives.
* According to theScrum Guide (2020):"The purpose of the Sprint Retrospective is to plan ways to increase quality and effectiveness. The Scrum Team identifies the most helpful changes to improve its effectiveness." Final Verdict:
The best two actions the product owner can take are:
#Re-assess the product goal, place it on the product backlog, and explain it to the team.#Create sprint goals and communicate them at the sprint planning event.
These steps ensureclarity, alignment, and engagementbetween the product owner, team, andstakeholders, improving the overall product perception.
References:
* Scrum.org.The Scrum Guide(2020). Retrieved fromhttps://scrumguides.org
* PMI.Agile Practice Guide(2017). PMI & Agile Alliance.
* PMI.Risk Management in Portfolios, Programs, and Projects - A Practice Guide(2022).

NEW QUESTION # 47
An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities, and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats.
What should the risk manager do next?

A. Utilize different tools to identify the risks
B. Plan risk responses to the threats
C. Add only the threats to the risk register
D. Update the risk register with the identified risks

Answer: D

Explanation:
The risk manager should update the risk register with both the opportunities and threats identified during the SWOT analysis. This will help in tracking and managing all potential risks throughout the project lifecycle.
Update the risk register with the identified risks Comprehensive and Detailed Explanation: According to the PMI Risk Management Professional (PMI-RMP)®Examination Content Outline1, one of the tasks in the domain of Risk Identification is to update the risk register with identified risks, causes, categories, and potential responses1. A risk register is a document used to track and report on project risks and opportunities throughout the project's life cycle2. In this scenario, the risk manager should update the risk register with the identified risks, both opportunities and threats, that result from the SWOT analysis. The risk manager should also include the causes, categories, and potential responses for each risk, as well as other relevant information such as probability, impact, priority, owner, etc. The risk manager should not add only the threats to the risk register, because opportunities are also a type of risk that can have a positive effect on the project objectives and should be recorded and managed accordingly3. The risk manager should not utilize different tools to identify the risks, because the SWOT analysis is a valid and useful tool for risk identification and there is no indication that it was insufficient or inappropriate for the project context4. The risk manager should not plan risk responses to the threats, because that is a separate process that comes after risk identification and requires further analysis and evaluation of the risks5. References: 1: PMI Risk Management Professional (PMI-RMP)
® Examination Content Outline, page 82: Risk Register in Project Management - Project Management Academy63: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 3974: How to Perform a SWOT Analysis - Project Risk Coach25: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition, page 440.

NEW QUESTION # 48
The project's customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?

A. Mitigate risks identified on the sensitivity analysis
B. Update the assumptions/exclusions register
C. Perform a qualitative risk analysis for the project
D. Hire more resources and crash the schedule

Answer: A

Explanation:
The project manager should mitigate risks identified on the sensitivity analysis to ensure the P90 date is met.
Sensitivity analysis helps identify the most critical risks that have the potential to impact the project's completion date. By mitigating these risks, the project manager can increase the likelihood of meeting the P90 date.
According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, the P90 date is the date that has a 90% probability of being met or exceeded by the project completion1. The Monte Carlo analysis is a simulation technique that generates possible outcomes of the project schedule based on the probability distributions of the activity durations2. The sensitivity analysis is a technique that determines how different sources of uncertainty affect the project objectives, such as the completion date3. Therefore, the project manager should mitigate the risks identified on the sensitivity analysis, as they are the most likely to affect the P90 date. By reducing the uncertainty and variability of the project schedule, the project manager can increase the confidence level of meeting the P90 date.
References: 1: PMI, Practice Standard for Project Risk Management, 2009, p. 91 2: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 215 3: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 403

NEW QUESTION # 49
What is the best source of project information which could result in the reduction of risk?

A. Sensitivity analysis.
B. Review organizational process assets, lessons learned from previous projects similar in nature.
C. Determine the risks by using brainstorming techniques.
D. Make observations/conversations on the current projects.

Answer: B

NEW QUESTION # 50
An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register.
What should the risk manager do next?

A. Assess the identified secondary risk.
B. Implement the risk response plan.
C. Communicate the identified residual risk.
D. Implement the risk contingency plan.

Answer: A

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)Examination Content Outline1, a secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to contract an external vendor to provide additional capacity and expertise to the project team. The secondary risk is the confidentiality risk that the contracts department has identified. The risk manager should assess the secondary risk to determine its probability, impact, and priority, and to plan appropriate responses. This is part of the Perform Qualitative Risk Analysis and Plan Risk Responses processes in the PMBOKGuide2. References: 1: PMI Risk Management Professional (PMI-RMP) Examination Content Outline 2: A Guide to the Project Management Body of Knowledge (PMBOKGuide)
- Sixth Edition

NEW QUESTION # 51
......

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Sarah Mitchell Sarah Mitchell

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