PMI-RMP - PMI Risk Management Professional The Risk Register Questions and Answers

Question 1

A project manager is facilitating a risk identification workshop.
The team identifies a potential risk, its cause, and its potential impact on the project schedule.
According to the PMBOK® Guide, what is the most appropriate next step for the project manager regarding this newly identified risk?

Accepted Answer

Add the risk, along with its characteristics, to the risk register.

Answer

Develop a comprehensive risk response plan immediately.

Answer

Perform a quantitative analysis to determine the exact financial impact.

Answer

Escalate the risk to the project sponsor for awareness and direction.

Question 2

During the Plan Risk Responses process, the project team decides to purchase insurance for a critical piece of equipment to protect against potential failure. This response, however, introduces a new risk related to the insurance provider's potential insolvency. In the context of the risk register, this new risk is BEST described as a:

Accepted Answer

Secondary risk

Answer

Residual risk

Answer

Contingency risk

Answer

Transferred risk

Question 3

A project manager is preparing a high-level presentation for the steering committee. The presentation needs to provide a snapshot of the overall project risk exposure and a summary of the top five threats and opportunities. Which of the following is true regarding the documents used?

Accepted Answer

The risk register is a detailed log of all risks, while the risk report summarizes this information for stakeholder communication.

Answer

The risk register and risk report are identical documents used for this purpose.

Answer

The risk report is the primary input for creating the detailed risk register.

Answer

The risk register is used for opportunities, while the risk report is used exclusively for threats.

Question 4

While reviewing the risk register for a software development project, a stakeholder points to an entry that describes a specific, observable event: 'The lead developer gives two weeks' notice.' This event, if it occurs, will activate the response plan for the risk 'Loss of key personnel.' What is this event formally known as in the risk register?

Accepted Answer

A risk trigger

Answer

A risk impact

Answer

A risk source

Answer

A residual risk

Question 5

Which of the following elements is typically added to the risk register as an output of the Perform Qualitative Risk Analysis process?

Accepted Answer

Risk probability, impact, score, and priority

Answer

Secondary risks and fallback plans

Answer

Probabilistic analysis of project objectives (e.g., Monte Carlo analysis)

Answer

A list of identified risks and their potential causes

Question 6

A project is in its execution phase when an unexpected problem occurs for which no risk was identified in the risk register. The project team quickly implements a solution. How should this event and its solution be documented for risk management purposes?

Accepted Answer

The event should be logged in the issue log, not the risk register, as it has already occurred.

Answer

The event should be added to the risk register as a closed risk.

Answer

A change request should be submitted to update the risk management plan.

Answer

The solution implemented is a workaround and should be documented in the risk register or lessons learned.