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To qualify for the PMI-RMP exam, individuals must have a minimum of 4,500 hours of experience in risk management and 40 hours of project risk management education. Additionally, individuals must hold a secondary degree, such as a high school diploma or equivalent. PMI-RMP Exam itself consists of 170 multiple-choice questions and must be completed within a four-hour timeframe.

PMI Risk Management Professional Sample Questions (Q50-Q55):

NEW QUESTION # 50
After presenting a list of risks to the major project stakeholders and project sponsor, the board requested the risks be sorted differently from the results presented by the project team.
This is a major issue and will cause a 2-week delay in the project.
How could the risk manager have avoided the board's response?

A. Engaging with the project sponsor before presenting to the board
B. Working with an established industry standard prioritization method
C. Prioritizing the risks based on the project sponsor's risk appetite
D. Engaging the key stakeholders during the prioritization process

Answer: D

Explanation:
According to the PMBOK Guide, risk prioritization is the process of assigning a level of importance to each identified risk based on its probability and impact, as well as other factors such as urgency, stakeholder tolerance, and project objectives.
Risk prioritization helps the project team to focus on the most significant risks and allocate resources accordingly. One of the tools and techniques for risk prioritization is stakeholder engagement, which involves involving the key stakeholders in the risk analysis and decision making process.
Stakeholder engagement helps to ensure that the risk prioritization reflects the expectations and preferences of the stakeholders, and that they are aware of and agree with the results.
By engaging the key stakeholders during the prioritization process, the risk manager could have avoided the board's request to sort the risks differently, as the board would have been part of the process and would have accepted the outcome.
References: = PMBOK Guide, 6th edition, pages 406-407; The Standard for Risk Management in Portfolios, Programs, and Projects, page 67.

NEW QUESTION # 51
Frank is a project team member in your project. Frank has been adding changes to the software interface for the software that your project is creating. Because Frank has been adding these features new risks have entered into the project. You elect that these additions should be removed from the project even if it takes extra time and money to remove the features. What are these riskladen features called?

A. Negative risks
B. Gold plating
C. Scope creep
D. Corrective actions

Answer: C

NEW QUESTION # 52
An undocumented risk is realized during the rollout of a new product line important to the company. The product owner escalates this matter to the company president, who expects all risks to be documented in the project risk plan.
How should the risk manager address this concern?

A. A similar risk never occurred in the past, so it was not considered.
B. Impact of the risk was assessed to be insignificant, so the risk was not documented.
C. Probability of the risk was very low. so the risk was not documented.
D. Risks are documented to the practicable extent possible.

Answer: D

NEW QUESTION # 53
You are the project manager of the GGK project for your company. The GGK project has a budget of
$1,265,100 and is currently 40 percent complete. In this project, you elected to add labor to the project to increase the likelihood of completing the project early as the project was only scheduled to be 35 percent complete at this time. This positive risk response, while keeping the project ahead of schedule, has added significant costs to the project. You have already spent $575,000 to reach this point in the project.
Management would like to know what your cost performance index and the schedule performance index is for this project. What are these values?

A. The CPI is -$68,960 and the SPI is $63,255.
B. The CPI is 1.14 and the SPI is .88.
C. The CPI is .88 and the SPI is 1.14.
D. The CPI is .88 and the SPI is zero.

Answer: C

NEW QUESTION # 54
The risk management process can be defined as which of the following?

A. Iterative through the planning phase
B. Iterative throughout the entire project
C. Baselined at the beginning of execution
D. Updated in the execution phase

Answer: B

NEW QUESTION # 55
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