PMI-RMP Certification Training - Key Takeaways - Plan Risk Management

The video tutorial covers an introduction to risk, including definitions and management strategies. It discusses risk factors, types of risk, and the concepts of risk appetite and tolerance. The tutorial also explains risk profiling, attitude, budgeting, and triggers, emphasizing their importance for certification exams. Finally, it provides an overview of risk management and the planned risk management process.

What is a key characteristic of risk that distinguishes it from uncertainty?

• Risk is always negative.

• Risk is unpredictable.

• Risk can be both positive and negative.

• Risk is always positive.

Why is understanding risk appetite important in project management?

• It guides the level of risk an organization is willing to accept.

• It helps in determining the project's budget.

• It defines the project's timeline.

• It ensures all risks are eliminated.

Which of the following is NOT a component of risk profiling?

• Risk attitude

• Risk budgeting

• Risk triggers

• Risk elimination

Which term refers to the willingness of an organization to take on risk?

• Risk management

• Risk budgeting

• Risk appetite

• Risk profiling

What is the primary focus of the planned risk management process?

• To create a risk-free environment

• To identify and assess risks

• To ignore minor risks

• To eliminate all risks