CORPNAME} PMI-RMP EXAM PRACTICE MATERIAL IN THREE FORMATS

CorpName} PMI-RMP Exam Practice Material in Three Formats

CorpName} PMI-RMP Exam Practice Material in Three Formats

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Tags: PMI-RMP Test Passing Score, PMI-RMP Reliable Guide Files, PMI-RMP Exam Dumps Demo, PMI-RMP Reliable Exam Simulator, Reliable PMI-RMP Test Tips

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You can take the PMI PMI-RMP desktop practice exam on Windows computers. SurePassExams has come up with this new style format in which you can easily track the records of your previous progress. So, you will understand how much you have improved or how much you need improvement for passing exam. The PMI Risk Management Professional (PMI-RMP) practice exam will also boost your time management skills.

PMI-RMP Certification Exam is a valuable credential offered by the Project Management Institute (PMI) for professionals who want to specialize in risk management. PMI Risk Management Professional certification is designed to validate the skills and knowledge required to identify, analyze, and respond to project risks. It is a globally recognized certification that demonstrates an individual's ability to manage risks effectively and efficiently.

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To prepare for the PMI-RMP Certification Exam, candidates can use a variety of resources, including study guides, online training courses, and practice exams. PMI also offers an official PMI-RMP Exam Prep course that covers all the domains of risk management and provides practice questions and quizzes. Candidates can also join study groups or participate in online forums to discuss concepts and share experiences. With thorough preparation and dedication, candidates can pass the PMI-RMP certification exam and achieve a valuable certification that will benefit their careers in risk management.

Perform Specialized Risk Analyses (14-16%)

  • Utilizing the specialized qualitative techniques and advanced quantitative tools to measure the characteristics of recognized risks for estimating overall risk exposure of the project;
  • Utilizing the advanced techniques and tools to perform the specialized risk analysis for supporting the stakeholder decision for the project.
  • Analyzing the risk data presented during the project utilizing the expert judgment and statistical analyses for defining the weaknesses and strengths of risk strategy & processes, as well as recommending the process changes when indicated;

PMI Risk Management Professional Sample Questions (Q15-Q20):

NEW QUESTION # 15
Harold is the project manager of a large project in his organization. He has been actively communicating and working with the project stakeholders. One of the outputs of the manage stakeholder expectations process can actually create new risk events for Harold's project. Which output of the manage stakeholder expectations process can create risks?

  • A. Change requests
  • B. Organizational process assets updates
  • C. Project document updates
  • D. Project management plan updates

Answer: A


NEW QUESTION # 16
A project has a S0S4 chance of a US$100 000 profit and a 40% chance of a US$100,000 loss. What is the expected monetary value for this project?

  • A. US$20.000 loss
  • B. US$100,000 profit
  • C. US$20,000 profit
  • D. US$40,000 loss

Answer: C

Explanation:
The expected monetary value (EMV) for this project can be calculated as follows: (0.6 x US$100,000) - (0.4 x US$100,000) = US$60,000 - US$40,000 = US$20,000 profit.
The EMV of a project is the weighted average of the possible outcomes, which are a US$100,000 profit or a US$100,000 loss in this case. To calculate the EMV, we multiply the probability of each outcome by its monetary value, and then add them together. The formula is:
EMV = (Probability of profit x Value of profit) + (Probability of loss x Value of loss) In this case, the probability of profit is 60%, and the value of profit is US$100,000. The probability of loss is
40%, and the value of loss is -US$100,000 (negative because it is a loss). Therefore, the EMV is:
EMV = (0.6 x 100,000) + (0.4 x -100,000) EMV = 60,000 - 40,000 EMV = US$20,000 This means that the project has an expected monetary value of US$20,000 profit, which is the answer option B: The other options are incorrect because they do not match the EMV calculation.
The EMV is a useful tool for comparing different projects or alternatives based on their expected values.
However, it does not account for the variability or uncertainty of the outcomes, which may also affect the project decision making. For example, a project with a higher EMV but a higher risk may not be preferable to a project with a lower EMV but a lower risk. Therefore, the EMV should be used with caution and in conjunction with other risk analysis techniques.
For more information on the EMV and other risk analysis methods, you can refer to the PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications, the A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition, and the Expected Monetary Value (EMV): A Guide With Examples. I hope this helps you understand the concept of EMV and how to apply it to project risk management


NEW QUESTION # 17
In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early completion.
In implementing this plan, which response should the risk manager use?

  • A. Share
  • B. Enhance
  • C. Exploit
  • D. Accept

Answer: C


NEW QUESTION # 18
A stakeholder is asked to approve additional funding to implement a risk response plan. However, the stakeholder is unsure of the amount that could be approved without escalation.
Where should the stakeholder look to determine the amount that can be approved?

  • A. Risk management plan
  • B. Organizational process assets
  • C. Risk register
  • D. Project charter

Answer: A


NEW QUESTION # 19
An organization faces immense competition in the market and decides to accelerate a key project. What is the first action for the project risk manager to take?

  • A. Meet with the project's stakeholders
  • B. Revise the risk management plan
  • C. Ensure sufficient resources are available
  • D. Update the risk register

Answer: B

Explanation:
According to the PMBOKGuide1, the risk management plan is a component of the project management plan that describes how risk management activities will be structured and performed. It provides guidance on how the project team will identify, analyze, respond, monitor, and control risks throughout the project life cycle. The risk management plan should be reviewed and updated whenever there are changes in the project scope, schedule, budget, or objectives, as these changes may introduce new risks or affect the existing ones. In this case, the organization's decision to accelerate a key project is a significant change that may alter the risk profile of the project. Therefore, the first action for the project risk manager to take is to revise the risk management plan to reflect the new situation and ensure that the risk management processes are aligned with the project objectives and constraints. This is part of the Plan Risk Management process in the PMBOK Guide1. References: 1: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition


NEW QUESTION # 20
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