PMI-RMP questions with complete solutions graded A+ 2023 passed

PMI-RMPProject background Information - correct answer Information from before the project was approved, articles written about similar projects and other such information. Assumptions - correct answer Factors that are considered to be true without any proof for planning purposes only, they are part of progressive elaboration as they should be reassessed during project life cycle, they contain a degree of risk. Benefit - correct answer Positive effect on project opportunity arising from occurrence of an opportunity. Bias - correct answer in some cases the source of information exhibits a preference that inhibits a partial prejudgment, they are cognitive and motivational bias. Cause - correct answer Events which might give rise into risks. Impact - correct answer Measure of the effect of a risk on one or more objectives if it occurs. Constraint - correct answer Things which limits team options, an applicable restriction or limitation, either internal or external. Contingency Reserve - correct answer Amount of funds, budget or time needed above the estimate to reduce the risk of overruns of project objectives. Contingency Plan - correct answer Plan developed in anticipation of occurrence of risk, to be executed if predetermined risk occurs. Decision Tree analysis - correct answer Diagram which describes a decision under consideration of choosing one or another alternative, used when future scenarios are uncertain. Risk management Department - correct answer Department that supplies policies and assistance with risk management efforts. Effect - correct answer Future event which would directly affect one or more of the project objectives. Risk - correct answer Uncertain event or condition that if occurred will affect project objectives in a positive or negative way. Risk Rating - correct answer a number between 1 and 10 chosen to evaluate the probability and impact of a risk. Risk Score - correct answer multiply of probability by impact, gives numerical value of each risk. Project risk score - correct answer sum of individual risk scores. Risk ranking within a project - correct answer Individuals risks comparison within a project. Risk ranking compared to other projects - correct answer Risk score of project compared to risk score of other projects. Emergent risk - correct answer risks which arise later on in a project and which was not identified earlier. Identify Risks - correct answer the process of determining which risks may affect project objectives. Risk Review - correct answer A meeting to examine and document the effectiveness of risk responses in dealing with overall project risk and with identified individual project risks.. Risk Audit - correct answer A type of audit used to consider the effectiveness of the risk management