PMI-RMP - PMI Risk Management Professional Qualitative Risk Analysis Questions and Answers

Question 1

A project team has identified 75 risks and is using a 5x5 probability and impact matrix to prioritize them.
A specific risk is assessed as having a 'Very High' impact but a 'Very Low' probability.
Where would this risk typically be placed for future monitoring?

Accepted Answer

On a watchlist within the risk register

Answer

Immediately escalated to the project sponsor

Answer

Sent for immediate quantitative analysis

Answer

In a dedicated contingency fund document

Question 2

Which of the following is a primary objective of the Perform Qualitative Risk Analysis process?

Accepted Answer

To prioritize identified individual project risks for subsequent analysis or action

Answer

To determine the overall project risk exposure numerically

Answer

To identify and document all potential project risks

Answer

To develop detailed strategies for responding to high-priority risks

Question 3

During a risk assessment workshop, the team has widely different interpretations of what constitutes a 'High' impact on the project's schedule. To resolve this and ensure consistency, the facilitator should refer to which document?

Accepted Answer

The Risk Management Plan

Answer

The Risk Register

Answer

The Project Charter

Answer

The Stakeholder Engagement Plan

Question 4

A risk manager is concerned about the reliability of the information used to assess several key risks. The manager decides to formally evaluate the extent to which the data is accurate, objective, and well-understood by the team. What tool or technique is being applied?

Accepted Answer

Risk Data Quality Assessment

Answer

Probability and Impact Assessment

Answer

Monte Carlo Simulation

Answer

Risk Categorization

Question 5

In addition to probability and impact, qualitative risk analysis can assess other risk parameters to enhance prioritization. Which parameter is most concerned with the amount of time available to implement an effective response before the risk occurs?

Accepted Answer

Urgency

Answer

Proximity

Answer

Dormancy

Answer

Detectability

Question 6

After the project team completes the Perform Qualitative Risk Analysis process, which of the following represents the MOST significant update made to the project documents?

Accepted Answer

The Risk Register is updated with risk rankings, owners, and a watchlist.

Answer

The project schedule is updated with new contingency reserves.

Answer

A new Risk Breakdown Structure (RBS) is created.

Answer

The project budget is formally approved by the sponsor.