PMI-RMP Exam Dumps - PMI Risk Management Professional (PMI-RMP) Exam

The project risk manager should generate reports to assess and communicate the project risk level to stakeholders. This helps in making informed decisions and taking appropriate actions to manage risks effectively.

 The project risk manager should quantify the risk exposure that exceeds project contingency, as this will help to determine the amount of management reserve needed to cover the potential cost overruns or schedule delays. The project risk manager should also communicate this information to the project manager and other relevant stakeholders, and update the risk management plan accordingly. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 80; PMBOK Guide, 6th edition, page 407.

Once a risk has been successfully managed, residual risks addressed, and there are no secondary risks, the next step according to risk management best practices is to formally close the expired risk and update all relevant project documentation. The PMBOK® Guide states:

" Once the risk responses have been implemented, and the risk is no longer a threat or opportunity, the risk should be closed out in the risk register and the results should be documented as part of project records and lessons learned. "

— PMBOK® Guide, 6th Edition, Section 11.7.3.2

Closing the risk ensures transparency and supports organizational learning through updated project records.

The correct answer is C. The risk owner should have communicated with the project manager so that a designated stakeholder could have been assigned to accept accountability for implementing risk responses.

The core problem in this scenario is not simply that the hardware failed. The real failure is that no one was available and accountable to respond when the risk event occurred . In sound risk management practice, each significant risk should have a clearly assigned risk owner responsible for monitoring the risk and ensuring that the agreed response is implemented. If that individual becomes unavailable, responsibility should not be left unattended. A backup or delegated stakeholder should be assigned so that accountability continues without interruption.

This makes option C the best answer because it addresses the actual governance gap: lack of continuity in risk ownership and response accountability. Proper planning for risk response execution includes ensuring coverage when the assigned owner is absent.

Why the other options are incorrect:

A. The project manager should have requested and mandated that no vacations be taken during critical implementation activities or until all implementation had been completed for the project. This is unrealistic and not a proper risk management control. Projects should be structured so that important responsibilities continue even when people are unavailable. Preventing vacations is not an appropriate or sustainable risk response strategy.

B. The risk manager should have anticipated this situation and planned for schedule buffers in the project schedule to accommodate the likelihood of failed hardware. Schedule buffers may help absorb delays, but they do not solve the real issue described in the question, which is the absence of anyone responsible for responding to the incident. The key deficiency is accountability, not just schedule flexibility.

D. The risk manager should have taken the responsibility of responding to this risk instead of relying on and waiting for the risk owner to return from vacation. The risk manager facilitates and oversees the risk management process, but does not automatically become the response owner for every risk. The correct approach is assignment of the appropriate risk owner or delegate, not centralizing all response responsibility in the risk manager.

Best-practice reasoning:

Risk ownership must be explicit, continuous, and supported by delegation when needed. For critical risks, organizations should ensure backup accountability and escalation paths so that risk responses can be executed immediately when triggers occur.

Reference-aligned basis:

This answer is consistent with standard risk management guidance that emphasizes:

assigning a risk owner to each significant risk,

ensuring responsibility for implementing agreed responses,

maintaining continuity of risk response accountability during project execution.

The project manager should assess and record associated secondary risks and proceed to treat them as any other risks. This involves identifying and evaluating the potential negative health effects of using pesticides and developing a plan to mitigate these risks. While it is important to consider the concerns of residents, the health authorities have determined that not moving forward with the plan will have more serious consequences on public health.

 Secondary risks are those that arise as a direct outcome of implementing a risk response. In this case, the use of pesticides is a risk response to limit the risks of harmful insects, but it may also cause negative health effects to some residents. This is a secondary risk that needs to be assessed and recorded in the risk register, along with its probability, impact, and response plan. The project manager should not suspend the project, as this would ignore the primary risk of harmful insects. The project manager should not consult with health experts to provide a risk trigger, as this is not a valid risk management technique. A risk trigger is an indication that a risk event is about to occur or has occurred, not a condition that prevents a risk response from being implemented. The project manager should not proceed with the project as normal, as this would neglect the secondary risk and its potential consequences. The project manager should follow the risk management process and treat the secondary risk as any other risk in the project. References: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition. Chapter 11: Project Risk Management, p. 408. 5

 

In this scenario, the risk manager is considering a response that could lead to a significant residual risk—excessive additional costs due to overtime. Before proceeding, it is crucial to confirm that the project sponsor is comfortable with the risk appetite for this potential outcome. This step is essential to ensure that the decision to allow overtime aligns with the sponsor ' s tolerance for additional costs and the overall project risk management strategy. According to the Risk Management Procedure, understanding and aligning with the sponsor ' s risk appetite is a critical step before implementing risk responses that could impact the project ' s financials​. This approach ensures that all stakeholders are aware of and agree to the potential consequences of the chosen risk response strategy.

 

 

 

 

To mitigate the chance of the same issues reoccurring, the risk manager should document the known risk triggers as identified cost and schedule risks in the risk register. By doing so, these risks are formally recognized, and appropriate responses can be planned and monitored. This approach ensures that the lessons learned from the previous project are incorporated into the risk management plan for the upcoming project, reducing the likelihood of similar issues occurring.

 

The correct answer is B. Analyze the risks and add them to the risk register to continue the process.

In project risk management, risks include both threats and opportunities . Positive risks are legitimate project risks because they can create beneficial outcomes if properly understood and managed. Once these positive risks are identified, the next step is not to isolate them from the normal process, but to document them in the risk register and continue analysis and management activities just as with negative risks.

This answer is correct because it reflects the normal risk management flow:

identify risks, including opportunities and threats,

document them in the risk register,

analyze and prioritize them,

develop suitable response strategies.

Why the other options are incorrect:

A. Prioritize opportunities as they are likely to bring benefits to the project. Opportunities should certainly be evaluated and prioritized, but first they must be formally captured and analyzed within the project’s risk management process. The broader and more correct next step is to analyze and record them in the risk register.

C. Create a separate project to exclusively manage positive risks and threats. This is unnecessary and contrary to normal practice. Positive and negative risks are managed within the same project risk framework.

D. Assign separate stakeholder groups for positive risks and negative risks. Separate stakeholder groups are not required simply because risks are positive or negative. Risk ownership should be based on relevance, authority, and capability, not on whether the risk is an opportunity or a threat.

Best-practice reasoning:

A mature risk management process treats opportunities and threats as part of the same structured system. Both should be identified, documented, analyzed, monitored, and responded to in alignment with project objectives.

Reference-aligned basis:

This answer is consistent with standard risk management guidance that emphasizes:

risks may be positive or negative,

all identified risks should be recorded in the risk register,

analysis continues after identification for both opportunities and threats.