PMI-RMP Monitor and Control Risks 3 — Questions and Answers
Question 1: A secondary risk is best described as a risk that arises from what?
- Implementing a risk response (Correct answer)
- Failure of a vendor
- An external regulatory change
- A schedule delay
Correct answer: Implementing a risk response
A secondary risk is a new risk created directly by implementing a risk response.
Question 2: Residual risk refers to risk that remains after which action?
- Risk responses have been implemented (Correct answer)
- The project is closed
- The risk register is created
- The contingency reserve is spent
Correct answer: Risk responses have been implemented
Residual risk is the exposure that remains even after planned responses are applied.
Question 3: During a status meeting the team reviews the risk register. This regular review supports which process?
- Monitor Risks (Correct answer)
- Identify Risks only
- Plan Risk Responses only
- Define Scope
Correct answer: Monitor Risks
Regular review of the risk register during meetings is a key activity of Monitor Risks.
Question 4: A risk trigger has been observed for a high-priority threat. What should happen next?
- Execute the associated contingency plan (Correct answer)
- Add the risk to the watchlist
- Perform a new SWOT analysis
- Close the risk
Correct answer: Execute the associated contingency plan
When a trigger is observed, the pre-planned contingency response should be executed.
Question 5: Which metric helps determine whether the number of identified risks is increasing or decreasing over time?
- Trend analysis of risk data (Correct answer)
- Net present value
- Return on investment
- Cost performance index
Correct answer: Trend analysis of risk data
Trend analysis examines how risk metrics change over time to reveal whether exposure is rising or falling.
Question 6: Management reserve, unlike contingency reserve, is used to address what?
- Unknown-unknown risks not in the risk register (Correct answer)
- Identified risks with planned responses
- Routine schedule float
- Known quality defects
Correct answer: Unknown-unknown risks not in the risk register
Management reserve covers unforeseen work for unidentified (unknown-unknown) risks.
Question 7: A risk reassessment during Monitor Risks may result in all of the following EXCEPT:
- Approval of the original project charter (Correct answer)
- Identification of new risks
- Closing of outdated risks
- Reassessment of current risks
Correct answer: Approval of the original project charter
Risk reassessment identifies new risks, reassesses current ones, and closes outdated ones, but does not approve the charter.
PMI-RMP Monitor and Control Risks 3
A secondary risk is best described as a risk that arises from what?