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PMI Risk Management Professional Sample Questions (Q209-Q214):

NEW QUESTION # 209
The project director and project manager have met with the board and determined that the project has depleted the entire contingency reserve and has started eroding the profit margin.
The project manager would like the risk manager to take full advantage of opportunities.
Which response should the risk manager take?

A. Exploit
B. Accept
C. Mitigate
D. Transfer

Answer: A

Explanation:
Explanation
The risk manager should choose to exploit opportunities, as this response aims to maximize the positive effects of opportunities, which can help recover the project's contingency reserve and profit margin.

NEW QUESTION # 210
After the initial assessment of a new project, a project manager found that in order to complete the expected results, detailed and exhaustive planning will be required to ensure the product's characteristics and quality.
What should the risk manager propose to the project manager what to do?

A. Use an adaptive approach for the delivery.
B. Use a hybrid approach for the delivery.
C. Use a predictive approach for the delivery.
D. Use an agile approach for the delivery.

Answer: C

Explanation:
When a project requires detailed and exhaustive planning to ensure the product's characteristics and quality, a predictive approach (also known as a waterfall approach) is the most appropriate. This approach involves planning out the project in detail upfront, including the scope, schedule, and costs, which aligns with the need for thorough planning mentioned in the scenario. The predictive approach is best suited for projects where requirements are well-understood and unlikely to change, allowing for careful management of risks through detailed plans.

NEW QUESTION # 211
You are the project manager of the NJJ project. Your enterprise environmental factors require that you establish certain risk management rules regarding low risks within your project. What is the best policy for risks with low probability and low impact in the project management?

A. These risks should be placed in the risk register.
B. These risks should be identified, but dismissed.
C. These risks should be placed on a watchlist for future monitoring.
D. These risks should be accepted.

Answer: C

Explanation:
Explanation

NEW QUESTION # 212
A budget change request was initiated by a functional manager in an organization due to a shortage in the functional manager's department budget. The functional manager asks the CEO to approve utilization of a contingency budget reserved for one of the projects in its closing phase.
What should the risk manager of the related project have done to prevent this situation from happening?

A. Reformed the risk monitoring and closing process properly.
B. Educated the project team on budget change requests.
C. Communicated better with the organization's CEO.
D. Created the project work plan and budget more accurately.

Answer: A

Explanation:
According to the PMI Risk Management Professional (PMI-RMP)Handbook1, one of the domains of the PMI-RMP exam is Risk Monitoring and Reporting, which involves tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating risk process effectiveness throughout the project1. The risk manager of the related project should have reformed the risk monitoring and closing process properly to ensure that the contingency budget is only used for the intended risks and not for other purposes. The risk manager should have also communicated the status and outcomes of the risk activities to the relevant stakeholders, such as the functional manager and the CEO, to avoid any confusion or conflict over the budget allocation1. Reference: 1: PMI Risk Management Professional (PMI-RMP)Handbook, page 6.
The risk manager should have ensured a more accurate project work plan and budget to prevent the functional manager from requesting to use the project's contingency budget. A well-planned budget would have avoided the shortage in the functional manager's department budget.

NEW QUESTION # 213
When processing freight invoices for a project, the project manager notices the shipping costs exceeded the budget due to increased fuel costs. The risk manager included this risk in the project's contingency allowance.
When reviewing the project budget execution reports, the project manager notices unused budget remaining in other closed tasks of the project that could cover the additional shipping costs.
What should the project manager do?

A. Process the freight invoices at higher shipping costs against the project's contingency allowance.
B. Ask the project sponsor to cover the additional shipping costs on the company's reserves account.
C. Process the freight invoices for the budgeted amount and hope the shipping company will forgive the difference.
D. Request a formal change order from the customer to increase the project's total budget.

Answer: A

Explanation:
Explanation
The project's contingency allowance is a provision in the project budget that is intended to cover known risks that may affect the project costs. The risk of increased fuel costs was identified and included in the contingency allowance, so the project manager should use it to process the freight invoices at the actual shipping costs. This is the best way to handle the risk without affecting the project scope, schedule, or quality.
Requesting a formal change order from the customer (option B) is not necessary, as the project budget already has a provision for this risk. Processing the freight invoices for the budgeted amount and hoping the shipping company will forgive the difference (option C) is unethical and unprofessional, as it violates the terms of the contract and the PMI Code of Ethics and Professional Conduct. Asking the project sponsor to cover the additional shipping costs on the company's reserves account (option D) is also not appropriate, as the company's reserves are meant for unknown risks that are beyond the project's control, not for known risks that are already accounted for in the project budget. References: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 72; PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), 6th ed., 2017, p. 252.
The project manager should use the contingency allowance to cover the additional shipping costs, as it was specifically included in the project budget for such risks. This approach avoids requesting unnecessary changes or relying on external sources to cover the cost overrun.

NEW QUESTION # 214
......

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High Pass Rate PMI-RMP Study Tool Helps You Pass the PMI Risk Management Professional Exam

Free PDF Quiz 2026 PMI-RMP: Marvelous PMI Risk Management Professional Valid Exam Testking

PMI Risk Management Professional Sample Questions (Q209-Q214):

Get Real PMI Risk Management Professional Test Guide to Quickly Prepare for PMI Risk Management Professional Exam

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