PMI-RMP The Risk Register 3 — Questions and Answers
Question 1: What is the purpose of the 'trigger condition' field in a risk register?
- To assign budget
- To define the warning sign that a risk is about to occur or has occurred (Correct answer)
- To list the risk owner
- To record stakeholder names
Correct answer: To define the warning sign that a risk is about to occur or has occurred
A trigger is an indicator that a risk is about to occur or has already occurred.
Question 2: After Perform Qualitative Risk Analysis, the register is updated with:
- Monte Carlo results
- Risk priority, probability and impact ratings, and risk categorization (Correct answer)
- Final response owners
- The project charter
Correct answer: Risk priority, probability and impact ratings, and risk categorization
Qualitative analysis adds prioritization, probability/impact assessments, categorization, and urgency to the register.
Question 3: A 'watchlist' in the risk register typically contains:
- High-priority risks needing immediate response
- Low-priority risks monitored but not actively managed (Correct answer)
- Closed risks
- Only opportunities
Correct answer: Low-priority risks monitored but not actively managed
Low-priority risks are placed on a watchlist for periodic monitoring rather than active response.
Question 4: Which field captures whether a risk is a threat or an opportunity?
- Risk category or risk type (Correct answer)
- Risk owner
- WBS code
- Contingency reserve
Correct answer: Risk category or risk type
Risk categorization or type distinguishes threats from opportunities in the register.
Question 5: When a secondary risk arises from implementing a response, where is it recorded?
- It is ignored
- As a new entry in the risk register (Correct answer)
- Only in the issue log
- In the procurement file
Correct answer: As a new entry in the risk register
Secondary risks created by responses are added as new individual risks in the register.
Question 6: Residual risk in the register refers to:
- Risk before any response
- Risk remaining after responses have been implemented (Correct answer)
- Risk owned by the sponsor
- Risk that has been closed
Correct answer: Risk remaining after responses have been implemented
Residual risk is the risk that remains after planned responses are implemented.
Question 7: How often should the risk register be reviewed during project execution?
- Only once at project start
- Regularly throughout the project, as part of Monitor Risks (Correct answer)
- Only at project close
- Never after creation
Correct answer: Regularly throughout the project, as part of Monitor Risks
The risk register is a living document reviewed regularly as part of Monitor Risks.
PMI-RMP The Risk Register 3
What is the purpose of the 'trigger condition' field in a risk register?