NEW QUESTION 1
You are the project manager of the HJU project for your company. This project will last for 18 months and has a project budget of $567,000. Robert, one of your stakeholders, has introduced a scope change request that will likely have an impact on the project costs and schedule. Robert assures you that he will pay for the extra time and costs associated with the risk event. You tell Robert that the change request may affect more areas of the project than just time and cost and that you are worried about the additional risks the change request will bring. What project management component is responsible for evaluating a change request and its impact on all of the project management knowledge areas?

• A. Project change control system
• B. Integrated change control
• C. Risk analysis
• D. Configuration management

Answer: B

NEW QUESTION 2
There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?

• A. Acceptance
• B. Sharing
• C. Transference
• D. Mitigation

Answer: A

NEW QUESTION 3
You are project manager for ABD project. You, with your team, are working on the following activities:
Probabilistic analysis of a project.
Probability of achieving cost and time objectives. Trends in Qualitative Risk Analysis results.
On which of the following processes are you working on?

• A. Plan Risk Management
• B. Perform Quantitative Risk Analysis
• C. Perform Qualitative Risk Analysis
• D. Identify Risks

Answer: B

NEW QUESTION 4
You are the project manager of the GHG project. You are preparing for the quantitative risk analysis process. You are using organizational process assets to help you complete the quantitative risk analysis process. Which one of the following is NOT a valid reason to utilize organizational process assets as a part of the quantitative risk analysis process?

• A. You will use organizational process assets for risk databases that may be available from industry sources.
• B. You will use organizational process assets for studies of similar projects by risk specialists.
• C. You will use organizational process assets to determine costs of all risks events within the current project.
• D. You will use organizational process assets for information from prior similar projects.

Answer: C

NEW QUESTION 5
Your organization, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?

• A. Each risk reassessment should go into the same depth as the original risk assessment activity.
• B. The probability and impact of risk event should determine the level of reassessment throughout the project lifecycle.
• C. The amount of detail of repetition that is appropriate depends on how the project progresses relative to its objectives.
• D. The level of detail and reassessment should reflect the priority of the project.

Answer: C

NEW QUESTION 6
Your organization has a project that is expected to last 20 months but the customer would really like the project completed in 18 months. You have worked on similar projects in the past and believe that you could fast track the project and reach the 18 month deadline. What increases when you fast track a project?

• A. Resources
• B. Costs
• C. Communication
• D. Risks

Answer: D

NEW QUESTION 7
You work as a project manager for BlueWell Inc. You have to communicate the causes of risk events to the stakeholders. Which risk diagramming technique you will use to communicate the causes of risk events to project stakeholders?

• A. Project network diagrams
• B. Process flow charts
• C. Ishikawa diagrams
• D. Influence diagrams

Answer: C

NEW QUESTION 8
You are the project manager for the TTR project. You are in the process of gathering information for risk identification. You ask experts to participate in the process through their emails for maintaining anonymity. You collect the responses, summarize them, and are then re-circulated to the experts for further comment. Which of the following techniques are you using for risk identification?

• A. Delphi
• B. Expert judgment
• C. SWOT analysis
• D. Brainstorming

Answer: A

NEW QUESTION 9
Which of the following processes looks at the complex web of actors, rules, conventions, processes, and mechanisms concerned with how relevant risk information is collected, analyzed and communicated, and how management decisions are taken?

• A. Risk Communication
• B. IRGC
• C. Risk Response Planning
• D. Risk Governance

Answer: D

NEW QUESTION 10
Frank is a project team member in your project. Frank has been adding changes to the software interface for the software that your project is creating. Because Frank has been adding these features new risks have entered into the project. You elect that these additions should be removed from the project even if it takes extra time and money to remove the features. What are these riskladen features called?

• A. Gold plating
• B. Scope creep
• C. Negative risks
• D. Corrective actions

Answer: B

NEW QUESTION 11
You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?

• A. Executing
• B. Planning
• C. Monitoring and Controlling
• D. In any process group where the risk event resides

Answer: C

NEW QUESTION 12
Della works as a project manager for Tech Perfect Inc. She is studying the documentation of planning of a project. The documentation states that there are twenty-eight stakeholders with the project. What will be the number of communication channels for the project?

• A. 378
• B. 300
• C. 28
• D. 250

Answer: A

NEW QUESTION 13
You are the project manager of the HJK Project for your organization. You and the project team have created risk responses for many of the risk events in the project. Where should you document the proposed responses and the current status of all identified risks?

• A. Stakeholder management strategy
• B. Risk management plan
• C. Risk register
• D. Lessons learned documentation

Answer: C

NEW QUESTION 14
Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of a risk threshold?

• A. It helps to identify those risks for which specific responses are needed.
• B. It is a limit of the funds that can be assigned to risk events.
• C. It is a warning sign that a risk event is going to happen.
• D. It is a study of the organization's risk tolerance.

Answer: A

NEW QUESTION 15
You are the project manager of the KJH Project and are working with your project team to plan the risk responses. Consider that your project has a budget of $500,000 and is expected to last six months. Within the KJH Project you have identified a risk event that has a probability of .70 and has a cost impact of $350,000. When it comes to creating a risk response for this event what is the risk exposure of the event that must be considered for the cost of the risk response?

• A. The risk exposure of the event is $245,000.
• B. The risk exposure of the event is $500,000.
• C. The risk exposure of the event is $350,000.
• D. The risk exposure of the event is $850,000.

Answer: A

NEW QUESTION 16
You are the project manager of the GHY Project for your company. You have completed the risk response planning with your project team. You now need to update the WBS. Why would the project manager need to update the WBS after the risk response planning process? Choose the best answer.

• A. Because of work that was omitted during the WBS creation
• B. Because of new work generated by the risk responses
• C. Because of risk responses that are now activities
• D. Because of risks associated with work packages

Answer: B

NEW QUESTION 17
You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

• A. Some responses are designed for use only if certain events occur.
• B. Some responses have a cost and a time factor to consider for each risk event.
• C. Some responses must counteract pending risk events.
• D. Quantified risks should always have contingency responses.

Answer: A

NEW QUESTION 18
Fill in the blank with an appropriate phrase. The _____ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied.

• A. residual risk

Answer: A

NEW QUESTION 19
You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?

• A. Create work breakdown structure process
• B. Plan risk management process
• C. Risk identification process
• D. Define scope process

Answer: B

NEW QUESTION 20
You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a financial impact on the project of $450,000. This risk event has a 70 percent chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but it will cost $260,000 to implement. Management agrees with the solution and asks that you include the risk response in the project plan. What risk response is this?

• A. This is mitigation because the response reduces the probability.
• B. This is not a risk response, but a change request.
• C. This is transference because of the $260,000 cost of the solution.
• D. This is avoidance because the risk response caused the project plan to be changed.

Answer: A

NEW QUESTION 21
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