Task 4 Establish Risk Management Strategy PMI-RMP Practice Questions (Page 5)

Questions 21–25

1. 21foundation · easy

   In establishing a risk management process for a project, which sequence of activities best aligns with the standard risk management framework?

   • AIdentify risks, analyze risks, plan responses, monitor and review
   • BPlan responses, identify risks, analyze risks, monitor and review
   • CMonitor and review, plan responses, identify risks, analyze risks
   • DAnalyze risks, identify risks, monitor and review, plan responses
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2. 22foundation · easy

   Which statement best describes the purpose of tailoring the risk management process to a specific project?

   • ATo reduce the number of risk management activities to save time
   • BTo standardize the process exactly the same for all projects in the organization
   • CTo ensure the process aligns with the project's size, complexity, and stakeholder expectations
   • DTo eliminate the need for risk identification in small projects
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4. 23application · medium

   An agile software development team wants to integrate risk management into their sprint cycles. The risk manager must adapt the risk process to fit the team's iterative approach. What is the most appropriate adaptation?

   • AAssign a dedicated risk owner who manages all risks outside the sprint ceremonies.
   • BConduct risk identification and analysis at the start of each sprint, with response planning and monitoring integrated into sprint reviews.
   • CUse a separate risk management process that runs in parallel to the sprints, with monthly reviews.
   • DPerform a comprehensive risk assessment once at the beginning of the project and update only if major issues arise.
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5. 24expert · hard

   A multinational corporation is establishing a risk management strategy that must comply with regional data privacy regulations. The risk manager needs to select a risk management tool that stores data in specific geographic regions. The organization also requires the tool to support multiple languages and currencies. Which tool selection is most appropriate?

   • AAn on-premises risk management system installed in the organization's headquarters.
   • BA simple spreadsheet-based risk register that can be customized for each region.
   • CA cloud-based risk management platform that offers regional data residency options and supports multiple languages and currencies.
   • DA specialized risk tool that is popular in the industry but only offers data storage in the vendor's home country.
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6. 25expert · hard

   A risk manager is developing a risk register template for a project that has both quantitative risk analysis and qualitative risk analysis requirements. The template must support both approaches without duplication. What is the best template design?

   • AA register that only includes qualitative fields, to keep the template simple.
   • BA register that only includes quantitative fields, assuming quantitative analysis is more rigorous.
   • CA single register with fields for both qualitative (category, description, response) and quantitative (probability, impact, exposure) data, with a flag to indicate which analysis method applies.
   • DTwo separate registers: one for qualitative risks and one for quantitative risks.
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