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Career Path
Holding the PMI Risk Management Professional certification allows to boost your career in the field of risk management to another level. There is a wide range of positions that you can opt for, including a Corporate Development Transaction Services Manager, a Construction Management Professional, a General Manager, a Network Program Manager, a Nurse Manager Risk Management, a Risk Management Analyst, Senior Software Engineer, and more. Besides that, these specialists can earn an average income of $65,000 per year.
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PMI Risk Management Professional Sample Questions (Q33-Q38):
NEW QUESTION # 33
During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.
Which action should the risk manager take to address this risk?
- A. Mitigate the identified risk in order to reduce the probability of impacting the stakeholder's team.
- B. Add the identified risk to the risk register for future probability and impact analysis.
- C. Accept the identified risk because other stakeholders feel that there are higher priority risks to address.
- D. Escalate the identified risk to the project sponsor and allow them to determine the best course of action.
Answer: B
Explanation:
Adding the identified risk to the risk register is the best action that the risk manager can take to address this risk. The risk register is a document that records the identified risks, their characteristics, their status, and their responses. By adding the risk to the risk register, the risk manager can ensure that the risk is not overlooked or ignored, and that it will be subjected to further probability and impact analysis to determine its priority and response strategy. Accepting the identified risk because other stakeholders feel that there are higher priority risks to address is not a good practice, as it may lead to overlooking a potentially significant risk that could affect the stakeholder's team. Mitigating the identified risk in order to reduce the probability of impacting the stakeholder's team is not advisable, as it may be a premature or unnecessary action without proper analysis of the risk probability and impact. Escalating the identified risk to the project sponsor and allowing them to determine the best course of action is not appropriate, as it may be an overreaction or a sign of lack of competence from the risk manager, who should be able to handle the risk identification and analysis process. References: PMI Risk Management Professional (PMI-RMP)Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)Cert Guide3
NEW QUESTION # 34
Ruth is the project manager of ISFH project for her company. This project is forty percent complete and it appears that some risk events are going to happen in the project that will have an adverse affect on the project.
Ruth creates a change request regarding the risks. Is this a valid response?
- A. Yes, change requests can be recommended for corrective actions for contingency plans.
- B. No, change requests should not address risks, only risk response strategies should be issued.
- C. No, change requests should not address pending risks, but only scope changes.
- D. Yes, change requests can ask for additional funds to pay for the risk impact.
Answer: A
NEW QUESTION # 35
Which types of project tends to have more well-understood risks?
- A. First-of-its kind technology projects
- B. State-of-art technology projects
- C. Operational work projects
- D. Recurrent projects
Answer: D
NEW QUESTION # 36
SIMULATION
Fill in the blank with an appropriate phrase.
________is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.
Answer:
Explanation:
Sensitivity analysis
NEW QUESTION # 37
Your project is an agricultural-based project that deals with plant irrigation systems. You have discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?
- A. Positive
- B. Opportunistic
- C. Enhancing
- D. Exploiting
Answer: D
NEW QUESTION # 38
......
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