Free PMI PMI-RMP Practice Exam with Questions & Answers | Set: 6

When conflicts arise in a complex project, performing an assumptions and constraints analysis is the first step in identifying potential risks. This analysis helps clarify the underlying assumptions and constraints that might be contributing to the conflicts, allowing the risk manager to assess whether they are still valid or if they need to be revisited. Addressing these factors can help mitigate conflicts and prevent new risks from emerging​.

When closing risks as part of the closing process, it is important to update the lessons learned document. This document captures the knowledge and experience gained during the project and can be valuable for future projects.

 Lessons learned is a document that captures the knowledge gained from the project and can help improve the performance of future projects. It is one of the outputs of the project closure process and should include information on the project risks, issues, and responses. Lessons learned can help identify the best practices and lessons to be applied or avoided in similar projects. Updating the lessons learned document is an important part of closing the risks as it can provide valuable insights for risk management. References: PMI, Project Risk Management, 2nd edition, 2019, p. 97-981

In this situation, the departure of a key project resource was an anticipated risk, and a transition plan was established as a response. However, implementing this plan has introduced new risks, known as secondary risks, which may impact the completion dates of other project-related tasks. According to PMI's risk management framework, it's essential to address these secondary risks in alignment with the predefined risk management plan. This involves assessing the new risks' probabilities and impacts, determining appropriate response strategies, and updating the risk register accordingly. By systematically managing secondary risks as outlined in the risk management plan, the project manager can mitigate potential adverse effects on the project's schedule and objectives.

PMI Risk Management Study Guide References:

The PMI-RMP Exam Preparation Study Guide highlights the necessity of managing secondary risks, stating that "secondary risks should be identified, analyzed, and planned for in the same manner as primary risks, ensuring that all potential threats to project objectives are adequately addressed."

When secondary risks emerge from a risk response, the risk manager should assess the impact of these residual and secondary risks on the project's objectives. This step is crucial to understanding how these risks could affect the project's scope, time, cost, or quality, and to determine if additional risk responses are needed. PMI's guidelines emphasize the importance of continually assessing risks, especially when they arise as a result of implemented risk responses​.

 A SWOT analysis is a risk identification technique that helps to identify high-level and strategic project risks by examining the internal and external factors that may affect the project objectives. A SWOT analysis involves listing the strengths, weaknesses, opportunities, and threats of the project, and then analyzing how they may impact the project positively or negatively. A SWOT analysis can help to uncover potential risks that may not be obvious from other techniques, such as prompt lists, interviews, or brainstorming12

References: 1: PMI Risk Management Professional (PMI-RMP)® Handbook, page 10 2: AGuide to the Project Management Body of Knowledge (PMBOK® Guide) – Seventh Edition, page 11.2.2.1

According to the PMI Risk Management Professional (PMI-RMP)® Examination Content Outline1, one of the tasks in the domain of Risk Response is to execute the approved risk response plan in accordance with project guidelines and procedures1. A risk response plan is acomponent of the project management plan that describes the agreed-upon and funded actions to address the project risks, both positive and negative2. In this scenario, the risk manager should execute the approved risk response plan to deal with the new risk that appears when requesting fuel from another supplier, which will cause delays with several other projects. The risk response plan should have been developed and approved during the riskresponse planning process, which involves selecting and prioritizing the appropriate risk strategies and actions for each risk3. The risk response plan should also be aligned with the project guidelines and procedures, which are the rules and directions that define the project’s scope, schedule, cost, quality,and other aspects4. The risk manager should not escalate the problem to the project sponsors, because that is not a risk response strategy, but rather a way to seek higher-level authority or support for a risk that is outside the project’s scope or influence5. The risk manager should not negotiate with the supplier to resolve the problem, because that is not a risk response strategy, but rather a procurement management techniquethat involves reaching a mutually acceptable agreement with the supplier on the terms and conditions of the contract6. The risk manager should not assign a team member to update the issue log, because that is not a risk response strategy, but rather a risk monitoring and reporting technique that involves tracking and documenting the issues that have occurred or are currently affecting the project7. References: 1: PMI Risk Management Professional (PMI-RMP)® Examination Content Outline, page 102: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 4143: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 4404:A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 385: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 4376: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 4717: What Is an Issue Log? Templates & Tips7.

Comprehensive and Detailed In-Depth Explanation:

A newly appointed product owner must ensureclarity in the product visionand alignment with both the team and stakeholders. Since they are unfamiliar with the project, the best approach is toreassess the product goalandset clear sprint goalsto guide the team effectively.

Option A: Re-assess the product goal, place it on the product backlog, and explain it to the team. (Correct✅)

Theproduct goaldefines the long-term objective of the Scrum team and is a keyelement of the product backlog.

By revisiting and clarifying this goal, the product owner ensures that the team has a cleardirectionand understands thevalue being delivered.

TheScrum Guide (2020)states:“The Product Goal describes a future state of the product which can serve as a target for the Scrum Team to plan against.”

ThePMI Agile Practice Guide (2017, p. 52)highlights that a strong product vision aligns stakeholders and enhances transparency.

Option C: Create sprint goals and communicate them at the sprint planning event. (Correct✅)

Sprint goals provideshort-term directionand help the team stay aligned with stakeholder expectations.

Communicating these goals duringSprint Planningensures that everyone is on the same page regarding priorities.

According to theScrum Guide (2020):“The Sprint Goal is the single objective for the Sprint. Although the Sprint Goal is a commitment by the Developers, it provides flexibility in terms of the exact work needed to achieve it.”

ThePMI Agile Practice Guide (2017, p. 61)also states that sprint goalsimprove transparency and trustbetween the product owner, team, and stakeholders.

Why Other Options Are Incorrect:

Option B: Invite more stakeholders to the daily Scrum meetings to voice their opinion of the product. (Incorrect❌)

TheDaily Scrum is a time-boxed eventmeant for thedevelopment team onlyto inspect progress and plan the next steps.

Including stakeholders in theDaily Scrumwould disrupt its purpose and lead to inefficiency.

TheScrum Guide (2020)states:“The Daily Scrum is a 15-minute event for the Developers of the Scrum Team. It is not intended as a status meeting for stakeholders.”

Option D: Invite product teams to more frequent reviews to observe the team's work and encourage feedback. (Incorrect❌)

Sprint reviews already include stakeholders to inspect the increment and provide feedback.

Increasing the frequency of reviewscould create unnecessary overheadand disrupt the team's workflow.

TheScrum Guide (2020)recommendsone sprint review per sprintrather than additional reviews.

Option E: Invite stakeholders to the sprint retrospective to brainstorm with the team improvements. (Incorrect❌)

Sprint retrospectives areinternal team meetingswhere the Scrum Team reflects on their processes and identifies improvements.

Stakeholders should provide feedback duringSprint Reviews, not retrospectives.

According to theScrum Guide (2020):“The purpose of the Sprint Retrospective is to plan ways to increase quality and effectiveness. The Scrum Team identifies the most helpful changes to improve its effectiveness.”

Final Verdict:

The best two actions the product owner can take are:

✅Re-assess the product goal, place it on the product backlog, and explain it to the team.✅Create sprint goals and communicate them at the sprint planning event.

These steps ensureclarity, alignment, and engagementbetween the product owner, team, andstakeholders, improving the overall product perception.

References:

Scrum.org.The Scrum Guide(2020). Retrieved fromhttps://scrumguides.org

PMI.Agile Practice Guide(2017). PMI & Agile Alliance.

PMI.Risk Management in Portfolios, Programs, and Projects – A Practice Guide(2022).

This is a secondary risk because it is a risk that arises as a direct result of implementing a risk response (in this case, procuring material from a different supplier).

A secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to procure the material from a different supplier if the first supplier fails to deliver on time. The secondary risk is that there may be differences in the material provided by the first and second supplier, which could affect the quality, cost, or schedule of the project. A secondary risk is different from a residual risk, which is a risk that remains after a risk response has been implemented. A primary risk is the original risk that triggers a risk response. A normal risk is not a standard term in risk management, but it could refer to a risk that is expected or inherent in a project. References: PMI Risk Management Professional (PMI-RMP) Examination Content Outline and Specifications1, page 9; A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, page 397; Secondary vs Residual Risk | Types of Risks on the PMP Exam.

In a company undergoing significant cultural and organizational change, it's essential for the risk manager to engage with the appropriate stakeholders when planning risk management activities. Leveraging the project manager's stakeholder analysis provides a comprehensive understanding of individuals and groups affected by or capable of influencing the project. This analysis identifies stakeholders' interests, influence, and potential impact on project success, enabling the risk manager to tailor risk management activities effectively. Collaborating with the project manager ensures alignment in stakeholder engagement strategies, fostering a cohesive approach to managing risks associated with organizational changes.

PMI Risk Management Study Guide References:

The PMI-RMP Exam Preparation Study Guide emphasizes the importance of stakeholder analysis in risk management, highlighting how understanding stakeholder interests and influences is crucial for effective risk planning and response.

The risk manager should review the feature with the project team to determine the cause and impact of the untestability, and to identify possible solutions or alternatives. The risk manager should also update the risk register and the risk response plan accordingly. This is the best option among the given choices, as it involves the relevant stakeholders and follows the risk management process. Confirming the risk triggers are still valid is not sufficient, as it does not address the problem or its consequences. Asking the architect to develop acceptance criteria is not appropriate, as it may not be feasible or effective to test the feature with new criteria. Escalating the issue to the project board is premature, as it may not be necessary or desirable to involve the senior management without first analyzing the situation and proposing a course of action. References: PMI. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition. Chapter 11: Project Risk Management, pp. 414-415. 5

When a key feature may not be testable due to changes in the environment, the risk manager should review the feature with the project team to understand the issue, assess its impact, and determine the appropriate risk response. This collaborative approach ensures that the team has a clear understanding of the situation and can work together to address the risk.