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PMI-RMP certification exam is a computer-based exam that consists of 170 multiple-choice questions. Candidates have four hours to complete the exam. To be eligible for the PMI-RMP Certification Exam, candidates must have a high school diploma or equivalent, and have completed either 30 hours of project risk management education or 3,000 hours of project risk management experience. PMI Risk Management Professional certification is highly respected and recognized by employers worldwide, as it demonstrates a candidate's commitment to professional development and expertise in managing risk in projects and organizations.
NEW QUESTION # 233
A project manager identified a risk of communication issues with the client which may impact the project schedule. A member of (he sales team advises that this client prefers face-to- face conversations.
What should the project manager do to avoid this risk?
Answer: A
Explanation:
The project manager should address the communication risk by meeting the client's preference for face-to- face conversations. This can be achieved by planning face-to-face meetings for critical milestones.
Communication issues with the client are a potential risk that can affect the project scope,schedule, quality, and stakeholder satisfaction. To avoid this risk, the project manager should align the communication methods and preferences with the client's expectations and needs. If the client prefers face-to-face conversations, the project manager should respect that and meet the client in person whenever possible. This can help build trust, rapport, and clarity between the project manager and the client. The project manager should also plan for critical milestone meetings with the client to review the project progress, deliverables, and feedback. This can help ensure that the project is on track and meets the client's requirements and satisfaction. References: PMI,
2017. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition. Newtown Square, PA: Project Management Institute, Inc., pp. 376-3771
NEW QUESTION # 234
Stakeholder deliverable reviews will start soon and additional work is expected to resolve any issues or required adjustments. Budget overruns during execution have put serious constraints on the remainder of the project's budget.
What should the project manager do next?
Answer: A
Explanation:
Explanation
The project manager should reassess the risks and analyze the reserve to determine if any adjustments can be made to accommodate the expected additional work. This will help in identifying potential budget-saving measures and making informed decisions on how toproceed.
NEW QUESTION # 235
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?
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 # 236
Which of the following documents is described in the statement below? "It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
Answer: B
NEW QUESTION # 237
A risk manager completed risk response planning for a project that is currently in the execution phase. During a periodic review of the risk register, the project manager recognizes that some key secondary risks have not been considered.
Who should the project manager hold accountable for missing the risks?
Answer: B
Explanation:
The risk manager is responsible for ensuring that all risks, including secondary risks, are identified and addressed during the risk response planning process. If key secondary risks were missed, the risk manager should be held accountable. (Reference: Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, Section 11.5) The risk manager is responsible for identifying and analyzing risks, as well as planning and implementing risk responses. Secondary risks are those risks that arise as a direct result of implementing a risk response to a specific risk. The risk manager should have considered the potential secondary risks during the risk response planning and updated the risk register accordingly. The project manager should hold the risk manager accountable for missing the secondary risks and ensure that they are properly addressed12 References: 1: PMI Risk Management Professional (PMI-RMP)® Handbook, page10 2: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Seventh Edition, page 11.2.2.1
NEW QUESTION # 238
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