PMP Exam RISK Situational Questions (Intermediate - Hard)

PMP Exam RISK Situational Questions (Intermediate - Hard)
Risk management is a critical component of project management, and the PMP exam tests your knowledge of risk management concepts and principles in a variety of ways. One of the most common types of PMP exam risk questions is the situational question.
Situational questions are designed to test your ability to apply your knowledge of risk management to real-world scenarios. These questions can be challenging, but they are also an opportunity to demonstrate your skills and expertise.
This video will cover a variety of intermediate-to-hard PMP exam risk situational questions. We will discuss how to identify, assess, and mitigate risks in a variety of situations. We will also provide tips and strategies for answering situational questions on the PMP exam.
Whether you are just starting to prepare for the PMP exam or you are in the final stages of your studies, this video is a valuable resource for anyone who wants to improve their ability to answer risk situational questions.
Here are some of the topics that we will cover in this video:
How to identify risks in a variety of project scenarios
How to assess the probability and impact of risks
How to develop and implement risk mitigation strategies
Tips and strategies for answering risk situational questions on the PMP exam
If you are serious about passing the PMP exam, then you need to watch this video. It will give you the knowledge and skills you need to answer risk situational questions confidently and accurately.
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[@alexiszakarra1532]

Had to subscribe fast... I have my exam in 2 and a half weeks and have been struggling with Risk Management in all the mock exams I have taken. I have to use this channel to add onto the knowledge acquired so far.

[@Praizion]

Cheers to success my friend!

[@alexiszakarra1532]

@@Praizion I did pass my exam a few months ago. Although I have struggled with using it to go for bigger roles, a lot of has to do with some struggles in my personal life. So thank you.

[@jennyrosemond959]

The way you break down the questions and answers are too great. This is so much better and more helpful to me than Andrew M's guides and other PMPs on youtube (no disrespect to them). The way you explain things just made it so much easier for concepts to stick. Immediate suscribe. Please keep posting!

[@Praizion]

Glad it was helpful! Best wishes on the test @jennyrosemond959!

[@researchexpert6180]

I’m enjoying these questions on all knowledge areas

[@Praizion]

Thank you. Glad you are benefiting from the videos.

[@shahildays2985]

really helpful and knowledgeable

[@Praizion]

Best wishes on the exam!

[@sscarbon]

I came here for the hard stuff and this didn’t disappoint. I enjoyed all 55 mins of it.

[@Praizion]

Haha 😂 Good Man! 💪 You'll ace it with such great attitude 👍😜

[@researchexpert6180]

Thank you so much for this. You even explain it so well

[@Praizion]

You are most welcome!

[@alexmangus1652]

Hey Phill, thanks for all your content, it's been super helpful for closing knowledge gaps. For question 25 @ 50:17, I'm realizing I sometimes struggle with choosing between "analyze" and "act on the situation" when it comes to the "what should the PM do next?" questions. Do you have any additional insight as to when the situation is serious enough that you shouldn't need to perform an analysis and just implement a risk response plan? Thanks so much for your help, and have a wonderful day.

[@Praizion]

Thanks for your question Alex. This question is nuanced to indicate you are in execution and you need to MANAGE the risk effectively. Planning is long completed and this threat is a serious one because it is about CUSTOMER DATA! Pretty serious. Identifying more vulnerabilities is not the best option here. Instead, collaborate with experts who can do that and more. Here are some guidelines: When to Act Without Further Analysis: The decision to skip further analysis and directly implement risk mitigation strategies might be warranted in the following scenarios: Immediate Threats: If there's credible intelligence about an imminent threat, such as a notified exploit in software your project uses, it would be prudent to act immediately rather than engaging in a lengthy assessment. Regulatory Requirements: Sometimes, regulatory frameworks in industries like finance and healthcare dictate immediate action in response to identified risks, leaving minimal room for prolonged analysis. Previous Assessments: If recent assessments provide a clear understanding of the risks and vulnerabilities, and these have not substantially changed, it might be more effective to move directly to implementing or updating controls. So, the choice between further analysis and immediate action depends on the existing knowledge of the risk landscape and the dynamic nature of the threat environment. If the situation and its risks are well-understood, and the potential for immediate harm is high, acting swiftly on pre-determined risk response strategies is crucial. I know this stuff can be fuzzy but think about what solves the problem vs. what will require more steps. A does not help manage the risk but B does.

[@alexmangus1652]

@@Praizion this is sooooo helpful, you rock Phill! Thank you so much for such a thorough response.

[@Praizion]

@@alexmangus1652 My pleasure! Glad it helps.

[@jaouadettadmouti330]

in the question 163 the answer is not C because the PM has just removed (some) work not all, the right here is mitigate, what do you think SIr

[@Praizion]

Mitigation actions are generally not removing scope. Mitigation actions generally do thing to reduce the risk without changing the scope. Avoidance is removing scope be it some or all. Removing all scope is the most drastic avoidance measure but not the only one. If every avoid strategy removed ALL the scope, there would be no project. This is the BEST answer. Avoidance involves change control action, mitigation may not.

[@shajahanolimohd7960]

All are very hard questions , its highly sensitive questions

[@Praizion]

Indeed @shajahanolimohd7960. If one can tackle these, it is good practice. Best wishes on the test.