PMI-RMP Risk Communication and Reporting 1 — Questions and Answers
Question 1: What is the primary purpose of a risk report in a PMI-RMP context?
- To document project costs
- To communicate the overall risk exposure and status to stakeholders (Correct answer)
- To assign blame for risk events
- To replace the project status report
Correct answer: To communicate the overall risk exposure and status to stakeholders
A risk report summarizes the overall project risk exposure and individual risk status, keeping stakeholders informed so they can make sound decisions.
Question 2: Which communication artifact best captures the current risk threshold and escalation criteria agreed upon by the team and sponsor?
- Risk register
- Risk management plan (Correct answer)
- Issue log
- Stakeholder register
Correct answer: Risk management plan
The risk management plan documents agreed-upon thresholds, escalation paths, and communication roles for the project.
Question 3: A risk manager wants to present probability-impact information visually to sponsors. Which tool is most appropriate?
- Pareto chart
- Probability and Impact Matrix (Correct answer)
- Gantt chart
- RACI matrix
Correct answer: Probability and Impact Matrix
The Probability and Impact Matrix visually maps each risk by likelihood and consequence, making it ideal for executive communication.
Question 4: How frequently should risk reports typically be issued on a project?
- Only at project initiation
- Only when a risk occurs
- At intervals defined in the risk management plan (Correct answer)
- Annually, regardless of project duration
Correct answer: At intervals defined in the risk management plan
The risk management plan defines reporting cadence, which should align with the project's reporting cycle and stakeholder needs.
Question 5: A project team identifies a new high-impact risk mid-project. Who should be notified first according to best practice?
- The project sponsor and key stakeholders per the escalation path (Correct answer)
- The vendor
- The customer's legal team
- The project team only
Correct answer: The project sponsor and key stakeholders per the escalation path
High-impact risks that exceed thresholds must be escalated promptly to the sponsor and stakeholders as defined in the risk management plan.
Question 6: What is the role of a risk owner in risk communication?
- To eliminate all project risks
- To be responsible for monitoring the risk and reporting its status (Correct answer)
- To approve the project budget
- To write the project charter
Correct answer: To be responsible for monitoring the risk and reporting its status
The risk owner is accountable for tracking their assigned risk and reporting updates to the risk manager and relevant stakeholders.
PMI-RMP Risk Communication and Reporting 1
What is the primary purpose of a risk report in a PMI-RMP context?