Valid PMI-RMP Dumps shared by ExamDiscuss.com for Helping Passing PMI-RMP Exam! ExamDiscuss.com now offer the newest PMI-RMP exam dumps, the ExamDiscuss.com PMI-RMP exam questions have been updated and answers have been corrected get the newest ExamDiscuss.com PMI-RMP dumps with Test Engine here:
Access PMI-RMP Dumps Premium Version
(267 Q&As Dumps, 35%OFF Special Discount Code: freecram)
<< Prev Question Next Question >>
Question 78/94
The risk manager for an IT project developing a software application has a major stakeholder concerned that the project will not conclude within the available funding. The risk manager found delays in the iterations and increments in the project's budget, potentially increasing the duration by two weeks.
What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?
What tools should the risk manager use to properly decide the risk of not finishing the project within the budget?
Correct Answer: D
In a situation where there are concerns about finishing the project within the budget due to delays and cost increments, using estimation and probability analysis tools, such as Monte Carlo simulations, is appropriate.
These tools help the risk manager to model potential outcomes based on different scenarios, providing a statistical probability of staying within the budget or finishing on time. This data-driven approach allows for more informed decision-making regarding the project's financial risks.
These tools help the risk manager to model potential outcomes based on different scenarios, providing a statistical probability of staying within the budget or finishing on time. This data-driven approach allows for more informed decision-making regarding the project's financial risks.
- Question List (94q)
- Question 1: A project manager of an IT company is assigned to a project ...
- Question 2: A risk management professional is in the process of categori...
- Question 3: During the design phase the project team is exploring variou...
- Question 4: While implementing the risk response plan for a previously i...
- Question 5: A project team does not understand why a very low probabilit...
- Question 6: A risk manager has identified multiple risks in an innovatio...
- Question 7: A project manager has requested the risk manager's support i...
- Question 8: A project manager wants to work on understanding the project...
- Question 9: In a highly dynamic project environment, the project manager...
- Question 10: A risk manager is preparing for the first meeting with their...
- Question 11: An organization is embarking on a multi-million-dollar proje...
- Question 12: A risk manager is confident that they have identified and qu...
- Question 13: A new risk manager has been assigned to a delayed strategic ...
- Question 14: When selecting strategies as an activity of Plan Risk Respon...
- Question 15: An undocumented risk is realized during the rollout of a new...
- Question 16: A project manager identified a risk of communication issues ...
- Question 17: A project manager wants to introduce a new technology to imp...
- Question 18: During project planning, a risk is identified for which the ...
- Question 19: A project manager is educating the project team on risk mana...
- Question 20: An organization with a large computer network identified a p...
- Question 21: A complex project that had hundreds of risks is almost done....
- Question 22: The project risk manager on a large firm fixed priced (FFP) ...
- Question 23: A risk manager has a well-structured risk management process...
- Question 24: During the risk management planning, key stakeholders recomm...
- Question 25: During a project progress meeting, a project team member is ...
- Question 26: Project stakeholders can often be risk averse with little to...
- Question 27: A risk manager for a new product development project has wor...
- Question 28: An organization performs an annual strategies and initiative...
- Question 29: One project in a program needs to be completed in 6 months b...
- Question 30: The project manager wants to use an objective method to eval...
- Question 31: A project has consistently been lagging in cost performance ...
- Question 32: A project manager has been assigned to a project that is jus...
- Question 33: Business rhythm can fluctuate greatly between different indu...
- Question 34: A project manager is developing the risk register and works ...
- Question 35: The project manager and the risk manager of a new project to...
- Question 36: A risk manager on an infrastructure project gathers and anal...
- Question 37: Upon reviewing the risk analysis results, the project manage...
- Question 38: it typically takes 5 hours to perform a complete home inspec...
- Question 39: A core project team is working on unrelated tasks in advance...
- Question 40: After completing the risk register, many team members feel t...
- Question 41: An external vendor needs to be contracted to provide additio...
- Question 42: The project's customer has stated the project must be comple...
- Question 43: After presenting a list of risks to the major project stakeh...
- Question 44: Some project risks are applicable for the project's lifecycl...
- Question 45: A project manager managing a high-risk rating project was ju...
- Question 46: While executing an oil extraction project in an environmenta...
- Question 47: Members of a project team are not taking their risk manageme...
- Question 48: In a large industrial business, an on-going system developme...
- Question 49: A risk manager and relevant stakeholders have completed a ri...
- Question 50: What is an example of legal and regulatory requirements and/...
- Question 51: A stakeholder is asking a project team to hire an external v...
- Question 52: The project manager has completed four projects all with sim...
- Question 53: A project manager is working on a construction project. Base...
- Question 54: A mega facility development project is evaluating some optio...
- Question 55: During a meeting to develop the risk management plan, the ri...
- Question 56: A company has implemented a policy requirement for employees...
- Question 57: A company has a project whose objective is to extract gold r...
- Question 58: A new risk manager has been hired on a project and meets wit...
- Question 59: A project manager has just been assigned to a new project. T...
- Question 60: At an oil and gas company, a major unified management inform...
- Question 61: Three months into a program, multiple workstreams are showin...
- Question 62: While performing risk identification exercises, the risk man...
- Question 63: An organization that spans across different countries underg...
- Question 64: A risk manager has to inform a project sponsor of the expect...
- Question 65: A risk manager is managing risks in a project. During the in...
- Question 66: A newly assigned risk manager realizes that a project has un...
- Question 67: After starting a new pipeline project, a risk manager schedu...
- Question 68: A risk management professional is currently facilitating the...
- Question 69: A highly complex project is about to start Considering that ...
- Question 70: During the project's lifecycle, project risk managers must m...
- Question 71: A company manages confidential customer information, and a d...
- Question 72: A new risk manager has been hired on a project and meets wit...
- Question 73: While developing a risk management plan for a complex progra...
- Question 74: Several key stakeholders approach the project manager with c...
- Question 75: A risk manager has noticed that response actions are not wor...
- Question 76: A risk manager has been assigned to a project constructing a...
- Question 77: An agriculture government agency faces different challenges ...
- Question 78: The risk manager for an IT project developing a software app...
- Question 79: The project manager leading a company's digital signature in...
- Question 80: A project manager realizes the team undertaking the project ...
- Question 81: There is confusion among risk action owners on a project abo...
- Question 82: During project execution, a project manager invites the stak...
- Question 83: A risk manager is reviewing documentation for a project foll...
- Question 84: Product testing can be done in multiple ways. A few project ...
- Question 85: In a large enablement project with strict time lines, risks ...
- Question 86: A project is In the initiation phase. The project stakeholde...
- Question 87: The risk manager conducted an updated Monte Carlo simul-atio...
- Question 88: A risk manager for a large project has completed documenting...
- Question 89: During the monthly executive review meeting, the project spo...
- Question 90: A project manager for a large product development project as...
- Question 91: A risk manager is managing risks of a mission critical appli...
- Question 92: A project manager for a predictive project just received a s...
- Question 93: When approving the risk contingency budget for a project, th...
- Question 94: A certain risk is identified for a major project, and the ri...
