PMI-RMP Exam Dumps : PMI Risk Management Professional (PMI-RMP) Exam

The risk registry is a document that records the identified risks, their characteristics, their status, and their responses. It is a key input for risk management and a source of information for project stakeholders. The risk manager should review the risk registry first to understand the current state of the project risks, especially the ones related to the client’s vendor, and to evaluate the effectiveness of the risk responses implemented so far. Enhancing risk identification, reviewing the contingency reserves, and creating a risk response plan are possible actions that the risk manager may take after reviewing the risk registry, but they are not the first thing to do. References: PMI Risk Management Professional (PMI-RMP)® Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)® Cert Guide3

When a risk manager realizes that a project has unrealistic funding and low resources, the appropriate document to review is the Project Management Plan. The Project Management Plan includes detailed information about the project’s budget, resources, and overall strategy. By reviewing this plan, the risk manager can identify any discrepancies between the planned and actual resources and funding, allowing them to assess the associated risks and take necessary corrective actions.

PMI’s standards indicate that the Project Management Plan is the primary document that outlines how the project will be executed, monitored, and controlled, including how resources and budgets are allocated​​.

Reviewing published operational experience reports from similar projects or industries can help the risk manager objectively identify risks for the chemical laboratory project. These reports provide valuable insights into potential risks and lessons learned from other projects.

According to the PMBOK Guide, one of the tools and techniques for the identify risks process is data gathering. Data gathering is the process of collecting information from various sources to identify potential risks that may affect the project objectives. One of the data gathering techniques is document analysis, which involves reviewing and analyzing available project documents and other information sources to identify potential risks. Some of the documents that can be analyzed are project charter, project management plan, stakeholder register, assumptionslog, agreements, and lessons learned1.

One of the information sources that can be useful for identifying risks in a project constructing a chemical laboratory is published operational experience reports. These are reports that document the experiences, lessons learned, best practices, and recommendations from other organizations or projects that have constructed or operated chemical laboratories. These reports can provide valuable insights into the common risks, challenges, and opportunities that are associated with chemical laboratory projects, such as safety hazards, environmental regulations, equipment failures, design specifications, quality standards, and stakeholder expectations. By reviewing published operational experience reports, the risk manager can objectively identify risks that are relevant and applicable to their project, as well as learn from the successes and failures of others23.

Some of the other options are not relevant or appropriate for the question scenario:

Importing a risk register from other industry chemical laboratories is not a valid option, as it would not allow the risk manager to objectively identify risks that are specific and unique to their project. A risk register is a document that records the identified risks, their causes, impacts, responses, owners, and other information related to the risk management process. A risk register is a project-specific document that reflects the characteristics, objectives, and context of a particular project. Importing a risk register from other industry chemical laboratories would not ensure that the risks are relevant, accurate, or comprehensive for the risk manager’s project. Moreover, it would violate the intellectual property rights and confidentiality agreements of the other projects1.

Defining chemical laboratory safety risk thresholds is not a tool or technique for identifying risks, but rather for performing qualitative risk analysis. Risk thresholds are the measures of the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Risk thresholds are used to determine the significance of each risk and to prioritize them for further analysis or action. Defining chemical laboratory safety risk thresholds would not help the risk manager to objectively identifyrisks, but rather toevaluate them1.

Drafting threat and opportunity risks that come to mind is not an objective or systematic way of identifying risks, but rather a subjective and intuitive one. This option would rely on the risk manager’s personal judgment, experience, or creativity, which may not be sufficient or reliable for identifying risks in a project constructing a chemical laboratory. This option would also not ensure that the risks are based on factual and verifiable information sources, such as project documents or published reports. Drafting threat and opportunity risks that come to mind would not help the risk manager to objectively identify risks, but rather to generate them1.

References: PMBOK Guide, 6th edition, pages 397-399, 414-415, 431-432, 441-4421; RiskManagement Professional (PMI-RMP)® Cert Guide, pages 63-642; Risk Management Professional Exam Outline, page 73.