PMI-RMP Exam Flashcards

Q: How many questions are on the PMI-RMP exam?

The PMI-RMP exam has 115 questions: 100 scored and 15 unscored pretest items, delivered in a mix of multiple-choice and multiple-response formats. You have 150 minutes (2.5 hours) to complete it, with two optional 10-minute breaks. The exam is administered through Pearson VUE at test centers and via online proctoring.

Q: What is the passing score for the PMI-RMP exam?

PMI uses a pass/fail result based on a psychometrically scaled score, not a fixed percentage. PMI does not publish an official passing percentage or pass rate for the PMI-RMP; widely cited prep estimates place the effective threshold around 65-70%, but treat that only as a study target. Your score report shows performance bands (Above Target, Target, Below Target, Needs Improvement) per domain rather than a raw percentage.

Q: What are the PMI-RMP exam domains and their weights?

The current PMI-RMP Exam Content Outline organizes the test into five domains: Risk Strategy and Planning, Stakeholder Engagement, Risk Process Facilitation, Risk Monitoring and Reporting, and Performing Specialized Risk Analyses. Questions are spread across these domains, with analysis and response planning representing the heaviest application-focused content. Master both qualitative and quantitative techniques.

Q: What are the prerequisites for the PMI-RMP exam?

There are two eligibility paths. Path 1: a secondary degree (high school diploma or equivalent) plus 36 months of project risk management experience within the last five years and 40 hours of project risk management education. Path 2: a four-year degree plus 24 months of experience within the last five years and 30 hours of education. You must also follow the PMI Code of Ethics.

Q: How long should I study for the PMI-RMP exam?

Most candidates need 100-150 hours of study over 8-12 weeks. Prioritize quantitative analysis (EMV, decision trees, Monte Carlo simulation) and the ten risk response strategies, since these application-heavy topics challenge most test-takers. PMI lets you attempt the exam up to three times within your one-year eligibility period; after three failures you must wait one year to reapply.

Question 1

Risk (PMI definition)

Accepted Answer

An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Risk includes both threats (downside) and opportunities (upside).

Question 2

Threat vs Opportunity

Accepted Answer

A threat is a risk with a negative effect on objectives; an opportunity is a risk with a positive effect. PMI manages both — each has its own set of five response strategies.

Question 3

Individual risk vs Overall project risk

Accepted Answer

An individual risk is a single uncertain event affecting one or more objectives. Overall project risk is the cumulative effect of all uncertainty on the project as a whole, including its exposure to variation.

Question 4

Risk appetite

Accepted Answer

The degree of uncertainty an organization is willing to accept in anticipation of a reward. It is a high-level, strategic attitude — broader than tolerance or threshold.

Question 5

Risk tolerance vs Risk threshold

Accepted Answer

Tolerance is the range of acceptable variation around an objective. A threshold is a specific measurable trigger point that, once crossed, forces action. Tolerance is a band; threshold is a line.

Question 6

Risk Management Plan

Accepted Answer

Defines HOW risk will be managed: methodology, roles, budgeting, timing, risk categories, probability/impact definitions, and reporting formats. It does NOT list the actual risks.

Question 7

Risk Register vs Risk Report

Accepted Answer

The Risk Register records individual risks (description, owner, response, status). The Risk Report summarizes sources of overall project risk and the big-picture exposure. Register = detail; Report = summary.

Question 8

Risk Breakdown Structure (RBS)

Accepted Answer

A hierarchical, categorized list of potential risk sources used to organize identification (e.g., technical, management, commercial, external). It groups risks by source, not by work package like the WBS.

Question 9

Risk owner vs Risk action owner

Accepted Answer

The risk owner is accountable for monitoring a risk and ensuring its response works. A risk action owner carries out a specific assigned response action. Owner oversees; action owner executes.

Question 10

Why engage stakeholders in risk management?

Accepted Answer

Stakeholders supply risk information, hold differing risk attitudes, and own or are affected by responses. Engaging them aligns risk thresholds, surfaces hidden risks, and secures buy-in for response actions.

Question 11

Stakeholder risk attitude factors

Accepted Answer

Risk attitude is shaped by risk appetite, tolerance, threshold, and individual perception. Differing attitudes among stakeholders must be reconciled so the project applies consistent risk criteria.

Question 12

Risk communication purpose

Accepted Answer

Targeted, timely risk communication keeps stakeholders informed of exposure and response status, manages expectations, and prevents surprises. The Risk Report is the primary vehicle for overall-risk communication.

Question 13

Delphi technique

Accepted Answer

An anonymous, iterative expert-survey method used to build consensus and identify risks while avoiding groupthink and dominant-personality bias. Responses are aggregated and fed back across rounds.

Question 14

SWOT analysis in risk identification

Accepted Answer

Examines Strengths, Weaknesses, Opportunities, and Threats. Strengths/opportunities surface upside risks; weaknesses/threats surface downside risks. It deliberately captures both threats and opportunities.

Question 15

Ishikawa (fishbone / cause-and-effect) diagram

Accepted Answer

A root-cause technique that traces an effect back to contributing causes grouped by category. Used to find the underlying drivers of risks rather than just symptoms.

Question 16

Assumption and constraint analysis

Accepted Answer

Tests the validity of project assumptions and explores constraints to surface risks. Invalid or unstable assumptions and tight constraints are common sources of threats.

Question 17

Prompt lists

Accepted Answer

Predetermined category lists (e.g., PESTLE, TECOP, RBS, VUCA) used to stimulate risk identification so that whole categories of risk are not overlooked.

Question 18

Risk trigger (warning sign)

Accepted Answer

An indicator or symptom showing that a risk is about to occur or has occurred, prompting the response. Triggers are identified early and monitored throughout the project.

Question 19

Qualitative risk analysis

Accepted Answer

Prioritizes individual risks by subjectively assessing probability and impact (often via a probability-impact matrix). It is fast and ranks risks; it does NOT produce numeric cost/schedule outcomes.

Question 20

Probability and Impact (P-I) matrix

Accepted Answer

A grid that multiplies probability rating by impact rating to score and rank each risk into priority zones (e.g., red/yellow/green). It is the core qualitative prioritization tool.

Question 21

Risk score (qualitative)

Accepted Answer

Probability × Impact, using the rating scales defined in the risk management plan. Higher scores get prioritized for detailed analysis or response; it is relative, not a dollar figure.

Question 22

Other qualitative parameters beyond P-I

Accepted Answer

Risks can also be assessed by urgency, proximity, manageability, detectability, connectivity, dormancy, and strategic impact. These help refine prioritization beyond probability and impact alone.

Question 23

Risk categorization (qualitative)

Accepted Answer

Grouping risks by source (RBS), affected area (WBS), root cause, or project phase to reveal concentrations of exposure and target responses more efficiently.

Question 24

Quantitative risk analysis

Accepted Answer

Numerically analyzes the combined effect of risks on overall project objectives (cost/schedule), producing ranges and probabilities. It is optional, resource-intensive, and follows qualitative analysis.

Question 25

Monte Carlo simulation

Accepted Answer

Runs thousands of iterations with random sampling from input distributions to model overall cost/schedule outcomes. Produces an S-curve showing the probability of meeting any given target.

Question 26

Sensitivity analysis / Tornado diagram

Accepted Answer

Identifies which individual risks or variables have the greatest impact on the project outcome. The tornado diagram ranks them with the most influential bar at the top.

Question 27

Three-point estimate (PERT)

Accepted Answer

Uses optimistic (O), most likely (M), and pessimistic (P) values to model uncertainty. Triangular mean = (O+M+P)/3; Beta/PERT mean = (O+4M+P)/6, weighting the most likely value.

Question 28

Expected Monetary Value (EMV)

Accepted Answer

EMV = Probability × Impact (in currency). Threats are negative, opportunities positive. Summed across a branch, EMV gives the weighted-average value used to compare decision options.

Question 29

EMV worked example

Accepted Answer

A risk with 20% probability and a $50,000 loss has an EMV of −$10,000 (0.20 × −50,000). A 30% chance of a $40,000 gain has an EMV of +$12,000. Net EMV here = +$2,000.

Question 30

Decision tree analysis

Accepted Answer

A diagram that evaluates choices under uncertainty by computing EMV down each branch (cost of decision plus probability-weighted outcomes). You select the path with the most favorable EMV.

Question 31

Contingency reserve vs Management reserve

Accepted Answer

Contingency reserve covers KNOWN risks (identified, with responses) and is controlled by the project manager within the cost baseline. Management reserve covers UNKNOWN risks, sits outside the baseline, and needs management approval to use.

Question 32

How is contingency reserve sized?

Accepted Answer

Typically from the EMV of known risks or from quantitative analysis (e.g., Monte Carlo at a chosen confidence level). It funds planned contingency/fallback responses, not unforeseen events.

Question 33

Cost/schedule baseline vs reserves

Accepted Answer

Cost baseline = work estimates + contingency reserve. Total budget = cost baseline + management reserve. Management reserve is in the budget but NOT the baseline, so consuming it changes the baseline.

Question 34

Five threat (negative) response strategies

Accepted Answer

Escalate, Avoid, Transfer, Mitigate, Accept. Avoid eliminates the cause; Transfer shifts impact to a third party; Mitigate reduces probability/impact; Accept takes no proactive action.

Question 35

Five opportunity (positive) response strategies

Accepted Answer

Escalate, Exploit, Share, Enhance, Accept. Exploit makes the opportunity certain; Share allocates it to a partner best able to capture it; Enhance increases probability/impact; Accept takes it if it arises.

Question 36

Escalate (response strategy)

Accepted Answer

Used for threats OR opportunities outside the project's authority/scope. Ownership is handed to program/portfolio level; the risk is then removed from the project's active register and monitored elsewhere.

Question 37

Transfer vs Share

Accepted Answer

Transfer moves a THREAT's impact (and ownership of response) to a third party, usually for a premium (insurance, warranties, contracts). Share allocates an OPPORTUNITY to a partner better able to capture it (partnerships, joint ventures).

Question 38

Mitigate vs Enhance

Accepted Answer

Mitigate reduces the probability and/or impact of a THREAT. Enhance increases the probability and/or impact of an OPPORTUNITY. They are mirror-image proactive strategies.

Question 39

Active vs Passive acceptance

Accepted Answer

Active acceptance establishes a contingency reserve (time, money, resources) to handle the risk if it occurs. Passive acceptance takes no action beyond documenting and periodically reviewing the risk.

Question 40

Secondary risk vs Residual risk

Accepted Answer

A secondary risk is a NEW risk created by implementing a response. A residual risk is the LEFTOVER risk that remains after the response is applied. New from the fix vs. what's still left.

Question 41

Contingency plan vs Fallback plan

Accepted Answer

A contingency plan (Plan A) executes when a risk's trigger fires. A fallback plan (Plan B) is held in reserve for when the contingency plan fails or the risk exceeds tolerance.

Question 42

Workaround

Accepted Answer

An unplanned response to an UNIDENTIFIED risk (or a residual risk) that has already occurred. Unlike a contingency plan, it is not prepared in advance — it is improvised during execution.

Question 43

Risk audit vs Risk review

Accepted Answer

A risk audit evaluates the EFFECTIVENESS of the risk management process and responses. A risk review reassesses existing risks, closes outdated ones, and identifies new risks. Audit = process; review = the risks themselves.

Question 44

Reserve analysis (monitoring)

Accepted Answer

Compares the amount of contingency/management reserve remaining against the amount of risk remaining, to confirm reserves are still adequate as the project progresses.

Question 45

Risk reassessment

Accepted Answer

A recurring activity that identifies new risks, reassesses current ones, and closes risks that are obsolete. It keeps the risk register current as project conditions change.

Question 46

Risk closure

Accepted Answer

A risk is closed when it can no longer occur or its response is fully complete (it occurred and was handled, or the window passed). Closed risks are archived with notes for lessons learned.

Question 47

Variance and trend analysis in risk monitoring

Accepted Answer

Reviews cost/schedule performance trends (e.g., earned value variances) to forecast emerging risk exposure. Worsening trends can signal that overall project risk is increasing.

Question 48

Key Risk Indicators (KRIs) vs triggers

Accepted Answer

A KRI is a metric tracked over time to signal changing risk exposure (leading indicator). A trigger is the specific point that signals a particular risk is occurring. KRIs trend; triggers fire.

Question 49

Lessons learned (risk)

Accepted Answer

Captured throughout and at closure, lessons document what risks occurred, how effective responses were, and what to repeat or avoid. They feed organizational process assets for future projects.

Question 50

Specialized risk analyses across approaches (predictive vs agile/hybrid)

Accepted Answer

Predictive projects emphasize up-front quantitative analysis and reserves. Agile/hybrid handles risk iteratively — backlog reprioritization, short feedback loops, and frequent reassessment reduce exposure as work proceeds.

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