Monday, January 15, 2024

20 NEW PMI-RMP Multi-Response Free Questions and Answers (Part - 2)

 

This is in continuation of the earlier series of questions for the mutlti-response or multi-answer questions for the PMI-RMP® examination. I call them multi-response, multi-choice quesitons.

I'd strongly suggest that you take both the parts together when you try to attempt the questions. That way you will get a feel of questions and how to answer them. Do note that these are not verbatim  questions from PMI-RMP exam, however, these questions covers the areas needed for the exam. These questions are taken from the following courses and book:

Again do note that the PMBOK 7th edition is a reference for the new RMP exam. It's explicitly listed in the exam content outline (RMP-ECO). 

The RMP Live Lessons course also comes with a dedicated  full-length question for this purpose (PMBOK7 and ECO).

In this part, we will have final 10 multi-answer/response questions. I hope you are able to do most of the questions on your own! If not, do send a mail as noted below.

[This series - Part - 1]

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Question – 11: For a project, the risk manager has all the planning related work, implementing the risk responses and currently monitoring the risks. For certain risks, while monitoring, the plan is to trigger a response based on analysis. Which of the following can be used (choose two)?

A. Affinity diagrams.
B. Contingency planning.
C. Variance analysis.
D. Residual impact analysis.
E. Trend analysis.


Question – 12: Which of the following are not correct about reserve analysis (choose two)?

A. Informs the amount of reserves remaining to the amount of risk remaining at any time in the project.
B. Use in both Perform Quantitative Risk Analysis and Monitor Risks process.
C. Can be plotted with a cause-and-effect diagram.
D. Burndown charts can be used to represent the reserve remaining.
E. Tells if the remaining reserve is adequate.


Question – 13: For a project, a number of risk related activities, but conditions ones, are added with changes to the project schedule. These have been approved and integrated, which in result in updates to (choose two):

A. Project schedule.
B. Project schedule management plan.
C. Project management plan.
D. Project schedule baseline.
E. Project resource management.


Question – 14: A planning session is ongoing in order to build a common understanding of the risk approach between stakeholders and to gain agreement for managing risks in a project, which will be part of the portfolio. The output of this meeting can have which of the following (choose two):

A. Introduction, Portfolio description, Stakeholder risk appetites.
B. Identified risks, Risk owners, Risk Response Owners.
C. Project description, Criteria for success, Thresholds and corresponding definitions.
D. Communications management plan, Risk breakdown structure, Contingency plans.
E. Risk management organization, Roles, responsibilities, and authority, Risk management techniques and guidelines for use.


Question – 15: Risk identification is about all of the following, except (choose two):

A. Develop a comprehensive list of all known uncertainties that could project objectives.
B. Use various tools and techniques such as variance analysis and trend analysis to identify new risks.
C. Write the risk statements in a three-part statement for clarity.
D. Use matrix method-based techniques such as analytical hierarchical process (AHP) to identify risks.
E. Remove biases and an array of human behavior patterns stand in the way of identifying unknown risks.


Question – 16: An example of unknown-known can be all of the followings, but (choose two):

A. A known fact.
B. A hidden assumption.
C. A hidden fact.
D. An unknowable.
E. An ignored assumption.


Question – 17: Delphi technique is one of the core techniques used to identify various uncertainties in a project and hence, associated risks. However, one of the key stakeholders opposes and outlines a number of reasons about its drawbacks. Why can this stakeholder be right (choose two)?

A. Limited to technical risks.
B. Iterative and hence gets unnecessarily refined.
C. Removes sources of bias.
D. Dependent on actual expertise of experts.
E. Can't be used for reserve estimation.


Question – 18: A project is getting closed. The risk manager and team members have tried to manage the risks to a large extent possible, but still some of the risks remained. As the project draws to a closure, what should be done with these risks, except (choose two)?

A. Include a summary of any risks or issues encountered on the project and how they were addressed.
B. Check the risk register and close all the risk before closing the phase.
C. Move the content of the risk register into the lessons learned register.
D. Hand-over the remaining risks into the next phase of the project.
E. Check the risk report in order to see the status of high-priority risks.


Question – 19: For a multi-geographical project under a satellite program, a project manager is currently collecting the performance information. In addition to it, which of the following can be done, except (choose two)?

A. Checking the status of the risks that have already been identified.
B. Evaluating whether or not the impact can be contained within the limits of the project budget.
C. Verifying whether any known risk has not occurred or is not about to occur.
D. Monitoring the status of all actions implemented to respond to the detection or occurrence of a risk.
E. Adding additional activities or work packages to update the project’s baselines or product backlog.


Question – 20: For a project, the risk owner has been monitoring the actions to determine the effectiveness and to identify if any secondary risks have arisen. The risk action owners while informing the status of response actions say that the undertaken actions are closed. What should the risk owner do next (choose two)?

A. Check if the risk has been effectively dealt with.
B. Inform the project manager about it and close the risk.
C. Determine if any additional actions need to be planned and implemented.
D. Keep the risk in the register and manage the risk through subsequent risk management processes.
E. Immediately perform an audit of this risk to determine the effectiveness of response.


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The question set is available in the embedded document below. The answers are also part of this document. You can scroll to see the content. 

For all answers, subscribe to this site and send a mail (from your GMail id) to managementyogi@gmail.com.



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Tuesday, January 09, 2024

20 NEW PMI-RMP Multi-Response Free Questions and Answers (Part - 1)



The Risk Management Professional (RMP®) exam from PMI® has various types of questions, including the multi-response questions. Indeed, if you are appearing for the latest RMP exam in 2024 and beyond, then you will face both multi-choice and multi-response questions. There is a subtle difference between the two.

Multi-choice questions: There will be four radio-button choices. ONLY one of the choices will be correct. I call it single-response, multi-choice question. These questions are relatively not that difficult. But considering PMI, the standard will be high. 

Multi-response questions: There will be usually five choices with check-boxes on the left, where you can select the right answers. In this case, there will be more than one correct answer. I call these multi-response, multi-choice questions. These are also called mutli-answer questions. These questions, compared to multi-choice questions, will be relatively difficult. 

These questions are taken from the following courses and book:

To answer these questions, you need to have:

  • Understanding of the Standard for Risk Management in Portfolios, Programs and Project. This is the main reference for the RMP exam.
  • Understanding on the concepts of uncertainties, complexties, ambiguities and risks from both PMBOK Guide 7th edition and PMBOK 6th edition. Yes, PMBOK 7th edition is an explicit reference for the latest RMP exam!
  • Ability to apply your understanding in the real-world in a varieties of situations and scenarios.
  • Good understanding of the PMI-RMP exam content outline (ECO), the latest one released in March/April 2022.

In this part, we will have 10 such multi-answer/response (or multi-response, multi-choice) questions. 

You will be seeing such questions for the first time. As noted earlier, RMP exam takers are already facing such questions. 

I hope you enjoy doing the questions and it helps in your PMI-RMP exam.


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Question – 1: One of the principles of risk management is to foster a culture to embrace risk management. Such a culture: (choose two)

A. Identifies threats rather than ignoring them.
B. Identifies opportunities rather than ignoring them.
C. Identifies opportunities by cultivating a positive mindset within an organization.
D. Identifies both threats and opportunities by allocating the right resources.
E. Focuses on most impactful risks first.


Question – 2: Which of the following are not correct about risk attitude (choose two)?

A. Driven by perception and evidenced by observable behavior.
B. Must range from risk seeking to risk averse.
C. Individuals will have inconsistent attitudes towards risks.
D. Not always stable or homogenous.
E. It's the degree to which an individual accepts risks in anticipation of reward.


Question – 3: A risk manager and team members are identifying various sources of uncertainties at the individual project task level and also overall project level. While doing so, they are currently focusing on the quantitative assessment of various project constraints such as cost, schedule, scope, quality among others. Which of the following cannot be inputs for this purpose (choose two)?

A. Cost estimates.
B. Duration estimates.
C. Requirement estimates.
D. Resource estimates.
E. Resource requirements.


Question – 4: Risk management planning process is not only important from the process perspective, but also strategy perspectives. Which of the following are not the purposes of this process (choose two)?

A. Gain a better understanding of individual risks. 
B. Have a numerical estimate of the overall effect of risk on the objectives.
C. Develop the overall risk management strategy.
D. Decide how the risk management processes will be executed. 
E. Integrate risk management with all other activities.


Question – 5: Considering team members are new to the project and risk management is quite new, which of the following are the key success factors for risk identification (choose two)?

A. Risks linked to objectives.
B. Agreed upon definition of risk terms.
C. Complete risk statement.
D. Appropriate risk data model. 
E. Available resources, budget and schedule for responses.


Question – 6: Considering risk owner and risk action owner, which are not correct? (choose two)

A. Risk owner is responsible for monitoring the risk.
B. Risk owner is responsible for selecting and implementing an appropriate risk response strategy.
C. Risk action owner reports the risk owner about the status of the risk response actions.
D. Risk action owner is responsible for finding out the effectiveness of a response.
E. Risk action owner owns the response actions, whereas risk response owner owns the response.


Question – 7: A project has been following the project management body of knowledge (PMBOK) guide's process group model of initiating to closing to manage a project, of which risk management is an integral part. Considering the planning process group of the five process groups, which of the following are considered?

A. Understanding of high-level risks that might impact project objectives.
B. Selection of overall risk management approach for the project.
C. Risk management integration with quality management and execution of stakeholder engagement strategies.
D. Risk management being part of every process in the planning process group.
E. Handing over the remaining known risks prior to closure of the project.


Question – 8: A risk manager is evaluating the effectiveness of risk management processes as documented in the risk management plan. The purposes of the audit can be (choose two):

A. Risk management rules are being carried out as specified.
B. Residual risks response planning is properly taken. 
C. Risk management strategy is iterative and integrative.
D. Risk management related lessons are documented properly. 
E. Risk management rules are adequate for monitoring and controlling the work.


Question – 9: The risk breakdown structure (RBS) is a hierarchical framework of potential sources of risk and used in risk identification. RBS can be used for all of the following situations, except (choose two):

A. Can be used in association with brainstorming.
B. Ensures coverage of all types of risk. 
C. Lowest level of RBS is known as the risk package.
D. Tests for blind spots or emissions.
E. Used for evaluating current risks as well as identifying new risks.


Question – 10: In a meeting for risk identification, the risk manager wants to allow all participants to speak their mind and contribute to the discussion. This is to identify as many risks as possible and to stimulate creativity. Which of the following tools and/techniques will help the risk manager the most (choose two)?

A. Brainstorming.
B. Checklist.
C. Prompt list.
D. Document analysis.
E. Delphi technique.


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The question set is available in the embedded document below. The answers are also part of this document. You can scroll to see the content. 

For all answers, subscribe to this site and send a mail (from your GMail id) to managementyogi@gmail.com.






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Monday, December 25, 2023

Course Review: MS Project Live Lessons – Enables to Learn and Master the Application to Help in Delivering Successful Projects

By Mukundan Vikkath, PMP


Why this Course?

My whole 25 years’ experience is in heavy equipment manufacturing and construction. For the last 10 years, I’ve been responsible for managing project teams delivering orders with respect to various mega projects in the Oil & Gas and Energy sectors. 

Though I’m skilled enough to monitor schedules and resource allocation across multiple projects, I didn’t have hands-on experience in preparing schedules using software tools. 

I believed having a certain level of fluency and expertise in MS project software tool would be helpful to analyse complex schedules and manage shared resources without too much dependency on schedulers.  

Features in this Course

In my observations, the key aspects of MS Project Live Lessons course are the followings:

  • Seamless integration of the theoretical concepts from the Project Management Body of Knowledge (PMBOK) guide to software application usage in MS Project.
  • Simple and short videos, which makes it much easier to understand for any level.
  • Clarity on each topic has been reinforced by practical and quiz questions at the end of every lesson. 

Following topics helped me mostly in managing my work effectively:

  • Analyzing Project: Critical path analysis/measurement (CPA/CPM) and schedule compression techniques.
  • Tracking Project: Establishing the baselines for the project and determining the variances.
  • Project Reporting: Generating easy to understand infographics.

In this course, other areas such as Resource Levelling, Resource Pooling, Earned Value Management etc. are extremely beneficial and worth highlighting.

I received a number of key-board shortcuts, tips and tricks provided towards the end of the course, and they are very useful. 

Conclusion

I would recommend this course to any project professional, either beginner or experienced to gain an in-depth understanding of the key project concepts along with basic skills to work on the wonderful MS Project software application. 

Mr Satya Narayan Dash is an inspiring teacher, and the entire course module has been compiled brilliantly to suit all kinds of learners at their own pace. 

Brief Profile: Mukundan Vikkath, PMP: Currently working as Project Management Department Manager in a leading Heavy Equipment Manufacturing Company in the Middle-East.



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