A portfolio risk response to mitigate a supply chain risk was implemented. The portfolio manager is monitoring the response and finds that the risk likelihood has decreased, but the response is costing more than planned. What should the portfolio manager do?

Stop the response because it is over budget

Increase the budget without question because the response is working

Evaluate whether the cost overrun is justified by the risk reduction

Continue the response because the risk is decreasing

During risk response implementation, what is the primary responsibility of the portfolio manager?

To update the risk register only after all responses are completed

To ensure that planned responses are executed and aligned with portfolio objectives

To personally execute every risk response action

To delegate all risk response implementation to component managers without oversight

A portfolio risk response plan includes a contingency action to activate a backup data center if the primary fails. The portfolio manager is reviewing the plan and notices that the backup data center has not been tested in over a year. What should the portfolio manager do?

Schedule a test of the backup data center to ensure the contingency response will work

Remove the contingency response because it is not being maintained

Document the lack of testing and move on

Assume the backup data center is still functional because it was tested previously

A portfolio risk response to mitigate regulatory changes was implemented six months ago. The portfolio manager is reviewing the risk register and finds that the risk likelihood has decreased, but the impact has increased. What should the portfolio manager do?

Close the risk because the likelihood is now low

Update the risk assessment and evaluate whether the current response is still adequate

Transfer the risk to an insurance provider immediately

Continue the current response because the likelihood has decreased

A portfolio has a risk of a major cyberattack that could disrupt operations. The portfolio manager has identified several possible responses, but the budget is limited. Which response should the portfolio manager select?

Avoid the risk by disconnecting from the internet

Implement a combination of mitigation measures, such as firewalls, training, and incident response plans

Invest in a comprehensive cybersecurity insurance policy

Accept the risk because cyberattacks are inevitable

PMIPortfolio Management Professional (PfMP)

Domain 4Objective 2

Task 2 PFMP Practice Questions (Page 4)

Part of the Portfolio Risk Management domain, which accounts for 15% of the PFMP exam. PMI does not publish an official question count, but from its 240-minute exam (~95–160 total, ~14–24 in this domain), expect 2–4 from this objective — we provide 25 practice questions to prepare you well beyond it. (estimate)

25questions here

5free pages

4concepts

15%of the exam

Questions 16–20

16expert · hard
A portfolio risk response to mitigate a supply chain risk was implemented. The portfolio manager is monitoring the response and finds that the risk likelihood has decreased, but the response is costing more than planned. What should the portfolio manager do?
Select an answer first
17foundation · easy
During risk response implementation, what is the primary responsibility of the portfolio manager?
Select an answer first
18application · medium
A portfolio risk response plan includes a contingency action to activate a backup data center if the primary fails. The portfolio manager is reviewing the plan and notices that the backup data center has not been tested in over a year. What should the portfolio manager do?
Select an answer first
19application · medium
A portfolio risk response to mitigate regulatory changes was implemented six months ago. The portfolio manager is reviewing the risk register and finds that the risk likelihood has decreased, but the impact has increased. What should the portfolio manager do?
Select an answer first
20expert · hard
A portfolio has a risk of a major cyberattack that could disrupt operations. The portfolio manager has identified several possible responses, but the budget is limited. Which response should the portfolio manager select?
Select an answer first

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