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PMI-RMP (PMI Risk Management Professional) Exam is a certification examination offered by the Project Management Institute (PMI) to assess and certify the knowledge and skills of professionals in the field of risk management. PMI Risk Management Professional certification is aimed at individuals who are responsible for identifying, assessing, and mitigating risks in their organizations or projects. It is designed to help these professionals improve their ability to identify and manage risks, as well as to enhance their overall project management skills.
The Project Management Institute (PMI) Risk Management Professional (PMI-RMP) exam is a globally recognized certification program for professionals who specialize in managing risks in project management. PMI Risk Management Professional certification is designed to help organizations and individuals identify and mitigate potential risks in projects, ensuring successful project outcomes. The PMI-RMP Certification is an important credential for individuals who want to showcase their expertise and advance their careers in project management.
PMI-RMP certification is beneficial for professionals in various industries, including construction, IT, healthcare, finance, and engineering. It is especially valuable for project managers, risk managers, project coordinators, and team members involved in risk management. PMI Risk Management Professional certification provides a competitive edge in the job market and can lead to higher salaries and better job opportunities.
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NEW QUESTION # 20
A risk manager is reviewing documentation for a project following a risk planning workshop with project stakeholders and team members. Several items have been identified on the risk log that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur.
Which response should the risk manager recommend for these risk items?
Answer: A
Explanation:
Explanation
According to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline1, one of the tasks in the domain of Risk Response is to recommend risk response strategies based on the risk appetite and tolerance of the organization and stakeholders1. One of the strategies for negative risks or threats is risk acceptance, which involves acknowledging the existence of a threat and making a conscious decision to accept it without taking any action2. In this scenario, the risk manager should recommend risk acceptance for the risk items that would be detrimental to project success, but the associated triggers cannot be managed by the organization and are unlikely to occur. Risk acceptance is appropriate when the risk exposure is low, the cost of other responses is high, or the risk response is outside the scope or influence of the project3. The risk manager should not recommend risk mitigation, which involves reducing the probability and/or impact of a threat2. The risk manager should not recommend risk enhancement, which is a strategy for positive risks or opportunities, not negative risks or threats2. The risk manager should not recommend risk exploitation, which is also a strategy for positive risks or opportunities, not negative risks or threats2. References: 1: PMI Risk Management Professional (PMI-RMP Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 4363: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, page 437.
NEW QUESTION # 21
Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. Which of the following inputs will be needed for the quantitative risk analysis process in her project? Each correct answer represents a complete solution. Choose all that apply.
Answer: A,C,D
NEW QUESTION # 22
You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?
Answer: D
NEW QUESTION # 23
A risk manager assessed all project risks, and the team is now identifying common groupings of risks. What tool or technique is used to perform this risk assessment?
Answer: A
NEW QUESTION # 24
During the design phase the project team is exploring various architecture options. After reviewing the results of design pilot, two conflicting infrastructure pieces were identified.
What action should the project manager take?
Answer: D
Explanation:
According to the PMBOK Guide, 6th edition, Section 11.2.1.2, Assumptions Log, an assumption is a factor that is considered to be true, real, or certain without proof or demonstration. Assumptions can affect the project planning and execution, and should be identified, documented, validated, and updated throughout the project life cycle. The assumptions log is an output of the Identify Risks process, and it records the project assumptions and their potential impact, validity, and priority. If the assumptions are found to be invalid or inaccurate, they may introduce new risks or change the existing risk exposure. Therefore, the project manager should update the assumptions log and assess the risk associated with the conflicting infrastructure pieces, and plan appropriate risk responses if needed. References: PMBOK Guide, 6th edition, Section 11.2.1.2, Assumptions Log When conflicting infrastructure pieces are identified, the project manager should update the assumptions log to reflect the new information and assess the risks associated with the conflicting pieces. This allows the project manager to make informed decisions about how to address potential issues and avoid future problems.
(Reference: Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, Section 11.3)
NEW QUESTION # 25
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