PMI-RMP - PMI Risk Management Professional Monitor and Control Risks Questions and Answers

Question 1

A project is 60% complete.
The project manager notes that the cost performance index (CPI) is 0.9 and several identified risks have occurred, consuming 75% of the contingency reserves.
What is the MOST appropriate immediate action for the project manager to take during the Monitor Risks process?

Accepted Answer

Analyze the remaining risks and the adequacy of the remaining reserves.

Answer

Request additional funding from the sponsor immediately.

Answer

Crash the schedule to try to improve the CPI.

Answer

Update the risk management plan to reduce the number of identified risks.

Question 2

A risk manager is facilitating a periodic review to examine and document the effectiveness of the risk response planning and the performance of the risk owners in executing their assigned responsibilities. What is this activity called?

Accepted Answer

Risk Audit

Answer

Risk Reassessment

Answer

Variance Analysis

Answer

Status Meeting

Question 3

Which of the following activities is a key component of a risk reassessment performed during the Monitor Risks process?

Accepted Answer

Identifying new risks that have emerged since the project started.

Answer

Developing the initial probability and impact scales.

Answer

Creating the initial risk management plan.

Answer

Selecting the appropriate risk response strategies for the first time.

Question 4

During the execution of a project, an unexpected severe thunderstorm causes minor flooding on the site, a risk that was not identified in the risk register. The project team immediately rents industrial water pumps to clear the area. This immediate, unplanned response is BEST described as a:

Accepted Answer

Workaround

Answer

Contingency plan

Answer

Secondary risk

Answer

Risk acceptance

Question 5

As a result of the Monitor Risks process, the project manager determines that a previously identified threat is now more likely to occur and its impact on the schedule is more severe than initially estimated. Which project document should be updated FIRST to reflect this new information?

Accepted Answer

The risk register

Answer

The issue log

Answer

The project charter

Answer

The lessons learned register

Question 6

A project manager is reviewing weekly performance reports. For the last three consecutive weeks, the Schedule Performance Index (SPI) has been declining from 0.95 to 0.88 to 0.81. This observation is an example of which tool or technique used in Monitor Risks?

Accepted Answer

Trend analysis

Answer

Reserve analysis

Answer

Technical performance measurement

Answer

Risk audit