PMI-RMP Monitor and Control Risks 2 — Questions and Answers
Question 1: During risk monitoring, a previously identified risk has not occurred and its triggers are no longer relevant. What is the appropriate action?
- Close the risk and update the risk register (Correct answer)
- Escalate the risk to the sponsor
- Increase the contingency reserve
- Re-perform quantitative analysis
Correct answer: Close the risk and update the risk register
Risks that are no longer relevant should be closed and documented in the risk register.
Question 2: A risk audit is primarily used to evaluate what during Monitor Risks?
- The effectiveness of risk responses and the risk management process (Correct answer)
- The accuracy of the project schedule
- The quality of stakeholder communication
- The financial health of the vendor
Correct answer: The effectiveness of risk responses and the risk management process
Risk audits examine and document the effectiveness of risk responses and the overall risk process.
Question 3: What technique compares the amount of contingency reserve remaining to the amount of risk remaining at a point in time?
- Reserve analysis (Correct answer)
- Variance analysis
- Trend analysis
- Earned value analysis
Correct answer: Reserve analysis
Reserve analysis compares remaining reserves against remaining risk to assess adequacy.
Question 4: A new risk is discovered during project execution that was not in the risk register. What should the risk professional do first?
- Identify and analyze the risk, then record it in the register (Correct answer)
- Immediately implement a workaround
- Spend the management reserve
- Cancel the affected work package
Correct answer: Identify and analyze the risk, then record it in the register
Newly emerging risks should be identified, analyzed, and added to the register through the ongoing process.
Question 5: Which output of Monitor Risks captures the actual outcomes of project risks for future projects?
- Lessons learned and organizational process asset updates (Correct answer)
- Change requests
- Project charter
- Procurement statement of work
Correct answer: Lessons learned and organizational process asset updates
Lessons learned and updated organizational process assets capture risk outcomes for future use.
Question 6: A response to an unplanned risk that has occurred but had no pre-planned response is called what?
- A workaround (Correct answer)
- A contingency plan
- A fallback plan
- A trigger condition
Correct answer: A workaround
A workaround is an unplanned response to an occurring risk that had no contingency plan.
Question 7: Technical performance measurement compares technical accomplishments against what?
- The schedule of planned technical achievements (Correct answer)
- The cost baseline
- The communications plan
- The procurement plan
Correct answer: The schedule of planned technical achievements
Technical performance measurement compares actual technical achievements to the planned schedule of accomplishments to reveal risk.
PMI-RMP Monitor and Control Risks 2
During risk monitoring, a previously identified risk has not occurred and its triggers are no longer relevant.
What is the appropriate action?