EXCELLECT PMI-RMP PASS RATE & PMI-RMP TEST GUIDE

Excellect PMI-RMP Pass Rate & PMI-RMP Test Guide

Excellect PMI-RMP Pass Rate & PMI-RMP Test Guide

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Our primary objective is to provide you with PMI Risk Management Professional (PMI-RMP) actual questions to complete preparation for the test in few days. Our product includes PMI Risk Management Professional real questions, desktop practice test software, and web-based practice exam. Keep reading to find out what are the specifications of these formats.

PMI-RMP certification not only validates the knowledge and skills of a professional in risk management but also provides them with a competitive advantage in the job market. PMI Risk Management Professional certification is recognized by top organizations around the world and can lead to higher salaries and better job opportunities.

PMI-RMP certification exam is a globally recognized credential that demonstrates an individual's expertise in risk management. PMI-RMP Exam is designed to test the candidate's knowledge and skills in identifying, assessing, and mitigating risks in various project management scenarios. PMI-RMP exam covers a range of topics, including risk identification, risk analysis, risk response planning, and risk monitoring and control.

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Obtaining the PMI-RMP Certification demonstrates an individual’s commitment to advancing their skills and knowledge in risk management. It also provides credibility and recognition within the industry, as the certification is globally recognized and respected by employers and peers. Additionally, individuals who obtain the certification may have access to higher paying job opportunities and increased job security.

PMI Risk Management Professional Sample Questions (Q18-Q23):

NEW QUESTION # 18
Melody is the project manager for her organization. She has created a risk response to conduct more tests on the software her project is creating. The identified risk that prompted this response was that the software is mission-critical and must be flawless before it can be put into product.
What type of a risk response has Melody used in this scenario?

  • A. Transference
  • B. Avoidance
  • C. Mitigation
  • D. Enhance

Answer: C


NEW QUESTION # 19
You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?

  • A. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
  • B. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
  • C. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
  • D. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.

Answer: D


NEW QUESTION # 20
Three months into a program, multiple workstreams are showing issues. At this point, the program manager requires that a risk impact assessment be conducted.
What will help calculate the impact?

  • A. Risk evaluation
  • B. Risk treatment
  • C. Risk identification
  • D. Risk analysis

Answer: D

Explanation:
Risk impact assessment involves calculating the impact of identified risks. Risk analysis is the process of examining, estimating, and evaluating the impact of risks, which helps in calculating the impact (Reference:
PMBOK Guide, 6th Edition, p. 417)
Risk analysis is the process of assessing the likelihood and impact of the identified risks on the program objectives. It helps to calculate the impact of the risks by using qualitative or quantitative methods. Risk analysis can provide useful information for risk prioritization, risk response planning, and risk reporting.
References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 67; PMI, The Standard for Program Management, Fourth Edition, 2017, p. 113.


NEW QUESTION # 21
A risk manager reviews a Monte Carlo schedule risk analysis model before sharing the results with the project manager. The risk manager notices that activity correlations were not included in the model.
What is an effect of adding the correlation to the model?

  • A. Increases the probability of correlated activities finishing on time.
  • B. Allows more risks to be included in the model.
  • C. Reduces the project completion duration.
  • D. Increases the standard deviation of the model.

Answer: D

Explanation:
Adding correlation to the model accounts for the relationship between activities, which can result in increased variability in the model's outcomes. This will increase the standard deviation, which is a measure of the uncertainty in the model.
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, an effect of adding the correlation to the Monte Carlo schedule risk analysis model is that it increases the standard deviation of the model. This is because:
Correlation is the statistical relationship between two or more variables. In a schedule risk analysis, correlation can be used to model the dependency between the durations of different activities. For example, if two activities are positively correlated, it means that if one activity takes longer than expected, the other activity is also likely to take longer than expected. Conversely, if two activities are negatively correlated, it means that if one activity takes longer than expected, the other activity is likely to take shorter than expected.
A Monte Carlo schedule risk analysis is a simulation technique that uses random values for uncertain variables, such as activity durations, to generate possible outcomes for the project schedule. The simulation is repeated many times to produce a probability distribution of the project completion date and duration. The standard deviation is a measure of the variability or dispersion of the distribution. A higher standard deviation means that the distribution is more spread out and less predictable.
Adding correlation to the Monte Carlo schedule risk analysis model increases the standard deviation of the model because it introduces more variability and uncertainty to the simulation. Correlated activities can have a cumulative effect on the project schedule, either positively or negatively, depending on the direction and strength of the correlation. This can result in more extreme outcomes for the project completion date and duration, which increase the spread of the distribution and the standard deviation.
Reference:
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
Risk Management Professional (PMI-RMP)Exam Cert Guide2


NEW QUESTION # 22
A critical piece of equipment broke during a project execution phase. The risk manager notices this risk in the risk register, and the response is to rent equipment until the critical piece is repaired.
What type of risk response is this?

  • A. Accept
  • B. Transfer
  • C. Avoid
  • D. Mitigate

Answer: D


NEW QUESTION # 23
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