PMI-RMP Certification Risk Identification & Analysis Flashcards
6 cards from real PMI-RMP Certification practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 PMI-RMP Certification Risk Identification & Analysis flashcards as text
Which tool uses a fishbone or Ishikawa diagram to trace risks back to their root causes?
Answer: Cause-and-Effect Analysis
Cause-and-Effect (Ishikawa/fishbone) diagrams visually map risk causes to effects, helping teams identify root causes of potential problems.
What is the key difference between a risk and an issue in project management?
Answer: A risk is an uncertain future event; an issue is a problem that has already occurred
A risk is an uncertain event that may or may not happen in the future, while an issue is a problem or concern that is currently affecting the project.
Prompt lists such as PESTLE are used during which risk process?
Answer: Identify Risks
Prompt lists like PESTLE (Political, Economic, Social, Technological, Legal, Environmental) are checklists used during risk identification to stimulate thinking about risk categories.
When two risks are positively correlated, what concern does this raise in risk modeling?
Answer: They may compound each other, increasing overall project risk exposure
Positively correlated risks tend to occur together, which can amplify their combined impact beyond what independent analysis would suggest.
Which risk identification technique involves reviewing past projects for risks that may recur?
Answer: Document Analysis / Historical Review
Reviewing historical project documentation, lessons learned, and archives helps teams identify risks that have occurred on similar past projects.
What does a confidence level of 80% in a quantitative cost risk analysis mean?
Answer: There is an 80% probability that the actual cost will be at or below the estimated value
An 80% confidence level means the project's cost estimate has an 80% probability of being sufficient to cover actual costs based on the risk model.
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