PMI-RMP Free Practice Test

You are the project manager for a construction project. The project includes a work that involves very high financial risks. You decide to insure processes so that any ill happening can be compensated. Which type of strategies have you used to deal with the risks involved with that particular work?

1. A. Mitigate
2. B. Avoid
3. C. Accept
4. D. Transfer

Correct Answer: D

Frances is the project manager of a project in her organization. This project has a budget of $567,000 and is schedule to last for three years. Frances wants to examine the risk events to determine which risk events have the most potential impact on the project. Which modeling technique can help Frances to accomplish this goal?

1. A. Expected monetary value
2. B. Sensitivity analysis
3. C. Quantitative risk analysis
4. D. Modeling and simulation

Correct Answer: B

Which of the following are parts of SWOT Analysis? Each correct answer represents a complete solution. Choose all that apply.

1. A. Opportunities
2. B. Tools
3. C. Weaknesses
4. D. Threats
5. E. Strengths
6. F. Optimism

Correct Answer: ACDE

Elizabeth is a project manager for her organization and she finds risk management to be very difficult for her to manage. She asks you, a lead project manager, at what stage in the project will risk management become easier. What answer best resolves the difficulty of risk management practices and the effort required?

1. A. Risk management only becomes easier the more often it is practiced.
2. B. Risk management only becomes easier when the project is closed.
3. C. Risk management only becomes easier when the project moves into project execution.
4. D. Risk management is an iterative process and never becomes easier.

Correct Answer: A

Gary is the project manager of the MMQ project for his company. He is working with his project team to plan the risk responses for his project. Sarah, a project team member, does not understand the process that Gary is using to plan the risk responses. Which approach is the preferred method to address project risks and the risk responses?

1. A. Risks in the project should be addressed by their probability for creating risk responses.
2. B. Risks in the project should be addressed by the organization's risk tolerance for creating risk responses.
3. C. Risks in the project should be addressed by their impact for creating risk responses.
4. D. Risks in the project should be addressed by their priority for creating risk responses.

Correct Answer: D