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PMI-RMP Exam covers various aspects of risk management, including risk planning, risk identification, risk analysis, risk response planning, and risk monitoring and control. PMI-RMP exam is based on the PMI’s Guide to the Project Management Body of Knowledge (PMBOK Guide) and the Practice Standard for Project Risk Management. It is a rigorous exam that requires extensive preparation, which includes studying the PMBOK Guide and the practice standard, taking practice exams, and participating in training programs. Upon passing the exam, individuals will earn the PMI-RMP Certification, which is recognized globally and demonstrates their proficiency in risk management.
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NEW QUESTION # 107
A major data center initiative involves performing a sensitivity analysis to determine the center's required amount of disaster recovery. Several key stakeholders are in disagreement about which level of disaster recovery is required. The lessons learned disaster recovery plans, and the difference for this data center is its geographical location and unique climate requirements. The database includes examples from previous similar initiatives, as well as the competitor's advertised plans.
What should the risk manager do to quantify the risk?
Answer: D
Explanation:
The Delphi technique is a structured communication process designed to build consensus among a group of experts and stakeholders when opinions differ and a quantitative assessment is needed. It uses rounds of anonymous input and feedback, allowing experts to refine their views based on others' anonymous contributions. This approach is especially useful when stakeholders are in disagreement and objective quantification of risk is required.
PMBOK Guide Extract:
"The Delphi technique is a way to reach a consensus of experts. Project risk experts participate in this technique anonymously. A facilitator uses a questionnaire to solicit ideas about the important project risks.
The responses are summarized and recirculated to the experts for further comment. Consensus may be reached in a few rounds of this process. The Delphi technique helps reduce bias in the data and keeps any one person from having undue influence on the outcome."
- PMBOK Guide, 6th Edition, Section 11.2.2.4
ISO 31000 Reference:
"Facilitated workshops and expert elicitation techniques, such as the Delphi method, can help achieve an objective and consensus-based understanding of complex risks."
- ISO 31000:2018, Section 6.4.2
In this scenario, since the stakeholders are in disagreement and the project involves complex, location-specific disaster recovery requirements, the Delphi technique (Option D) is the officially recommended approach to achieving consensus and quantifying risk.
References:
PMI PMBOK Guide, 6th Edition, Section 11.2.2.4
Practice Standard for Project Risk Management, PMI
ISO 31000:2018, Section 6.4.2
NEW QUESTION # 108
The risk manager for a data center infrastructure project performs a risk audit. Which of the following represents the primary goals of the audit?
Answer: A
NEW QUESTION # 109
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 mcnetary value for this project?
Answer: C
Explanation:
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.
NEW QUESTION # 110
A risk manager is working on the risk management plan for a new digital platform and realizes the project sponsor, who is the IT manager, has not been invited to the project team meetings. The IT manager is concerned that the IT infrastructure is unable to host the new platform the team is creating. The risk manager asks the IT manager to be included in the meetings.
What should the IT manager's role be in the project team meetings?
Answer: C
Explanation:
A risk owner is the person assigned to manage, monitor, and report on a specific risk. When the IT manager has unique insight or control over risks associated with IT infrastructure, they should be formally assigned as a risk owner for those risks. The PMBOK Guide emphasizes:
"Risk owners are identified during the risk management planning process and should be engaged in relevant meetings and risk discussions. Assigning the IT manager as a risk owner ensures proper accountability for IT- related risks."
- PMBOK Guide, 6th Edition, Section 11.3.2.1 (Risk Register: Risk Owner) This promotes ownership, accountability, and effective risk management.
References:
PMBOK Guide, 6th Edition, Section 11.3.2.1
Practice Standard for Project Risk Management, PMI, Section 5.3
NEW QUESTION # 111
Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team.
What document is Frank and the NHH Project team creating in this scenario?
Answer: B
NEW QUESTION # 112
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