Task 4 Establish Risk Management Strategy PMI-RMP Practice Questions (Page 4)

Questions 16–20

1. 16foundation · easy

   Which technique is commonly used for qualitative risk analysis and is supported by many risk management software tools?

   • ADecision tree analysis
   • BMonte Carlo simulation
   • CProbability and impact matrix
   • DSensitivity analysis
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2. 17application · medium

   A project manager in a construction firm needs to standardize how risks are documented across multiple projects. The risk manager is asked to create a template that captures both qualitative and quantitative information. Which template design best supports this requirement?

   • AA risk register template with fields for risk ID, category, probability, impact, exposure score, response strategy, and owner.
   • BA risk report template that summarizes top risks and their status for executive review.
   • CA risk category checklist that lists potential risk sources for identification workshops.
   • DA risk response plan template that details actions, resources, and timelines for each risk.
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4. 18foundation · easy

   What is the primary benefit of categorizing risks?

   • AIt eliminates the need for quantitative analysis
   • BIt guarantees that all risks will be identified
   • CIt automatically assigns risk owners
   • DIt helps in identifying common root causes and developing effective responses
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5. 19expert · hard

   A risk manager is selecting a risk management tool for a project that requires both qualitative and quantitative analysis, but the project team has limited experience with statistical methods. The tool must support the team's skill level while still meeting the analysis requirements. What is the best tool choice?

   • AA tool that requires extensive training and certification to use effectively.
   • BA tool that offers advanced quantitative analysis features, assuming the team will learn them.
   • CA tool that focuses only on qualitative analysis, as it is easier for the team.
   • DA tool that provides guided workflows for qualitative analysis and simple quantitative features like probability-impact matrices and basic Monte Carlo simulation.
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6. 20foundation · easy

   Which approach best demonstrates coaching the team on risk best practices?

   • AWaiting for team members to ask questions before providing any guidance
   • BRequiring team members to read the risk management plan independently
   • CAssigning risk management tasks only to senior team members
   • DProviding just-in-time training and mentoring during risk workshops
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