Welcome to your PMI-RMP Question Answers
The risk manager for a construction project graphically groups project risks by the subsets of economic risk social risk and technical risk Where has this information been captured?
The project manager wants risk metrics established for the new project. Which of the following metrics listed is best suited for this purpose?
What quantitative tools and techniques are used to perform risk analysis in order to support stakeholder decision making for the project?
A company is executing a high-visibility project to develop mobile phone technology. The project sponsor is concerned that an overall high risk rating may undermine support for the project within the company The sponsor has instructed the project manager to manipulate the data used for Monte Carlo simulation to artificially reduce the risk rating What should the project manager do?
A project has four risks that are identified during the risk identification process The table shows the probability of each risk occurring and the corresponding cost What is the total estimated monetary value of cost for this project?
A regional vendor for custom manufactured steel oil derricks, is awarded a contract to design, manufacture and install 40 offshore oil platforms. Installation of these derricks requires precision placement and stable seas for the transport and installation ships to properly install the deep water structure. There are several schedule and cost incentives for early completion and the project manager asks the project risk coordinator to perform an analysis which will predict the probability of meeting the incentive dates. While researching methods that could be used for performing this analysis, the risk manager realizes that there are readily available spreadsheets within the organization The risk manager is considering performing a Method of Moments (PERT) analysis with software already owned or the other option is to buy a commercial risk analysis software suite that will perform Latin Hypercube Monte Carlo simulations at a cost of US$975 What would be the best analytical option for this probability assessment?
Who is ultimately responsible for monitoring a risk that is about to exceed its risk threshold?
A project manager is running a high-cost telecommunications project. There is a monthly status meeting and the risk manager should provide an update to the project team and project sponsors on major risks What risk related information should be included in the monthly status meeting of this complex project?
Critical deliverables are delayed because a key subject matter expert (SME) does not have enough time to allocate to the tasks How could the situation be improved for the future?
Which of the following represents levels of risk attitude?
Which form of communication minimizes misunderstandings and reinforces teamwork?
PESTLE TECOP and SPECTRUM are three examples of prompt lists that can be used during risk management activities Prompt lists are used to do which of the following?
