Project Risk Management PMP Sample Questions

Project Risk Management PMP Sample Questions

Question No :1
Which is least risk phase of a project ?
1. Planning
2. Closing
3. Execution
4. Control
correct is :1
Explanations :
The Planning phase is the phase with the least risk attached.
Because you have not committed the major part of your project.


Question No :2
You are the project manager of a Project. Which of the following techniques will you use to create
the risk management plan?
1. Planning meetings
2. Status meetings
3. Variance meetings
4. Risk tolerance
correct is :1
Explanations :
Planning meetings are used to create the risk management plan.
Planning Meetings and Analysis: Attendees are the PM, leadership team,
key stakeholders and those in the organization responsible to manage project risks.


Question No :3
A person's willingness to tolerate risk is known as __________?.
1. The utility function
2. Risk acceptanc
3. The risk reward ratio
4. Scope Statement.
correct is :1
Explanations :
The utility function describes a person's willingness to tolerate risk.


Question No :4
A risk trigger is also called __________?
1. A warning sign
2. A delay
3. A cost increase
4. None of the above
correct is :1
Explanations :
Risk triggers can also be known as warning signs.
Triggers - Risk symptoms or warning signs that indicate a risk even has occurred or is about to occur.


Question No :5
The risks of financial gain or loss are called _____________.
1. Business risks
2. Financial risks
3. Organizational risks
4. Functional risks
correct is :1
Explanations :
Business gains are directly tied to the risk of financial gains or loss


Question No :14
A risk is ____________ occurrence that has a positive or a negative effect on a project .
1. Known
2. Uncertain
3. Known
4. Potential
correct is :2
Explanations :
Risks are not planned, they are left to chance.


Question No :6
Which describe SWOT?
1. SWOT : Strengths, Weaknesses, Opportunities and Threats.
2. SWOT : Scope, Weaknesses, Opportunities and Threats.
3. SWOT : Strengths, Weaknesses, Options and Threats.
4. None of the above
correct is :1
Explanations :
SWOT : Strengths, Weaknesses, Opportunities and Threats.


Question No :7
A table of risks, probability of risks, impact, and a number representing the overall risk score is
called a ________.
1. Risk table
2. Risk matrix
3. Qualitative matrix
4. Quantitative matrix
correct is :2
Explanations :
A table of risks, probability of risks, impact, and a number representing the overall risk score is
called a Risk matrix.
Question No :8
The Risk Register is initiated during __________phase?
1. Risk Identification
2. Risk Management Planning
3. Qualitative Risk Analysis
4. None of the above
correct is :1
Explanations :
The Risk Register is initiated during Risk Identification phase and periodically updated Qualitative
Risk Analysis phase.


Question No :9
Most subjective Quantitative Risk Analysis Tools and Techniques are :
1. Interviewing and Expert judgment
2. Probability distributions
3. Decision Tree Analysis
4. Simulation
correct is :4
Explanations :
Decision Tree Analysis, Probability Distributions, Modeling and Simulation,
Expected Monetary Value, and Sensitivity Analysis are numerically based tools.

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