PMP Risk Management 5

Question 1

Which type of risk refers to the inherent uncertainty in all projects before any risk responses are implemented?

Accepted Answer

Inherent risk

Answer

Inherent risk is the natural level of risk existing before any controls or mitigations are applied to the project.

Question 2

A risk probability and impact matrix is used primarily to:

Accepted Answer

Prioritize risks for further analysis and response planning

Answer

The probability and impact matrix categorizes and prioritizes risks based on their likelihood and potential effect, guiding where to focus resources.

Question 3

A project manager reviews the risk register and finds several risks with low probability and low impact. The MOST appropriate response strategy is to:

Accepted Answer

Accept them and monitor passively

Answer

Low-probability, low-impact risks are typically accepted passively with periodic monitoring rather than consuming resources for active response.

Question 4

Which input is MOST critical when performing Perform Quantitative Risk Analysis?

Accepted Answer

Risk register

Answer

The risk register contains the list of identified and prioritized risks that serve as the foundation for quantitative risk analysis.

Question 5

A project manager uses Monte Carlo simulation to analyze project schedule risk. The PRIMARY output of this simulation is:

Accepted Answer

A probability distribution of possible outcomes

Answer

Monte Carlo simulation runs thousands of iterations to produce a probability distribution showing the range and likelihood of different project outcomes.

PMP - Project Management Professional Practice Test

PMP - Project Management Professional Practice Test

PMP Risk Management 5