PMI-RMP Risk Management Framework 2

Question 1

Which process establishes the scope, criteria, and approach for managing risk on a project according to the PMI-RMP framework?

Accepted Answer

Plan Risk Management

Answer

Plan Risk Management defines how risk activities will be structured and performed, producing the risk management plan.

Question 2

A project manager wants to define risk thresholds aligned to organizational risk appetite. Where are these documented?

Accepted Answer

Risk management plan

Answer

The risk management plan captures risk thresholds, appetite, and tolerance levels for the project.

Question 3

Risk appetite is best described as which of the following?

Accepted Answer

The degree of uncertainty an entity is willing to take on in anticipation of reward

Answer

Risk appetite is the general level of uncertainty an organization is willing to accept in pursuit of value.

Question 4

Within the risk management framework, the EEFs (Enterprise Environmental Factors) most relevant to Plan Risk Management include which item?

Accepted Answer

Organizational risk attitudes and thresholds

Answer

Risk attitudes, appetites, and thresholds are key enterprise environmental factors influencing risk planning.

Question 5

A framework component defines categories used to group risks systematically. What tool documents these categories?

Accepted Answer

Risk breakdown structure (RBS)

Answer

The risk breakdown structure hierarchically organizes potential sources of risk by category.

PMI-RMP Practice Test