NEW QUESTION 1
Which of the following are parts of SWOT Analysis? Each correct answer represents a complete solution. Choose all that apply.

• A. Opportunities
• B. Tools
• C. Weaknesses
• D. Threats
• E. Strengths
• F. Optimism

Answer: ACDE

NEW QUESTION 2
Holly is the project manager of the NSS Project for her company. She is discussing some of the project risks and the issues that have happened in the project. Holly has faxed the status report to her project client for their review. Based on the standard communication model, which component in this scenario is the decoder?

• A. Project customer
• B. Telephone wire
• C. Holly
• D. Project customer's fax machine

Answer: D

NEW QUESTION 3
Which of the following is a risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold?

• A. Avoidance
• B. Exploit
• C. Transference
• D. Mitigation

Answer: D

NEW QUESTION 4
Wendy is the project manager of the FBL project for your company. She has identified several risks within her project and has created a risk contingency reserve of $45,000 total. Her project is nearly complete and many of the risks have not happened in the project. What should Wendy do with the funds in the contingency reserve?

• A. The funds remain in the contingency reserve until all of the risks have passed.
• B. The funds for the risks that have passed and have not happened are transferred to the project budget.
• C. The funds for the risks that have passed and have not happened are released.
• D. The funds remain in the contingency reserve until the project is closed.

Answer: C

NEW QUESTION 5
Harry works as a project manager for BlueWell Inc. He is determining how to conduct the risk management activities for a project. According to the PMBOK, there are six inputs to the plan risk management process. Which one of the following is NOT an input to this process?

• A. Project scope statement
• B. Risk management plan
• C. Schedule management plan
• D. Cost management plan

Answer: B

NEW QUESTION 6
You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?

• A. Define Scope
• B. Plan Risk Responses
• C. Plan Risk Management
• D. Identify Risks

Answer: D

NEW QUESTION 7
You are the project manager for your organization and you are working with Thomas, a project team member. You and Thomas have been working on a specific risk response for a probable risk event in the project. Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?

• A. Risk expeditor
• B. Risk owner
• C. Risk team leader
• D. Risk coordinator

Answer: B

NEW QUESTION 8
You are the project manager for your company and a new change request has been approved for your project. This change request, however, has introduced several new risks to the project. You have communicated these risk events and the project stakeholders understand the possible effects these risks could have on your project. You elect to create a mitigation response for the identified risk events. Where will you record the mitigation response?

• A. Risk register
• B. Risk log
• C. Risk management plan
• D. Project management plan

Answer: A

NEW QUESTION 9
Fred is the project manager of a large project in his organization. Fred needs to begin
planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?

• A. Variance and trend analysis
• B. Information gathering techniques
• C. Planning meetings and analysis
• D. Data gathering and representation techniques

Answer: C

NEW QUESTION 10
Mary is the project manager of PKT project. In Mary's project there are certain enterprise environmental factors that require Mary to use modeling and simulation techniques to predict the likelihood of achieving cost and schedule objectives in the project. Mary is using a technique for which the cost estimates are chosen at random for each iteration of the analysis, such as pessimistic, most likely, and worst-case scenarios. What type of analysis is Mary using in this project?

• A. Quantitative analysis
• B. Qualitative analysis
• C. Risk distribution
• D. Monte Carlo Analysis

Answer: D

NEW QUESTION 11
Thomas is a key stakeholder in your project. Thomas has requested several changes to the project scope for the project you are managing. Upon review of the proposed changes, you have discovered that these new requirements are laden with risks and you recommend to the change control board that the changes be excluded from the project scope. The change control board agrees with you. What component of the change control system communicates the approval or denial of a proposed change request?

• A. Configuration management system
• B. Scope change control system
• C. Integrated change control
• D. Change log

Answer: C

NEW QUESTION 12
You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?

• A. Historical information
• B. Qualitative risk analysis
• C. Quantitative analysis
• D. Rolling wave planning

Answer: B

NEW QUESTION 13
The risk transference is referred to the transfer of risks to a third party, usually for a fee, it creates a contractual-relationship for the third party to manage the risk on behalf of the performing organization. Which one of the following is NOT an example of the transference risk response?

• A. Use of insurance
• B. Warranties
• C. Life cycle costing
• D. Performance bonds

Answer: C

NEW QUESTION 14
Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

• A. Increased understanding or quantification of the system
• B. Estimating the average outcome
• C. Model development
• D. Decision making or the development of recommendations for decision makers

Answer: ACD

NEW QUESTION 15
Frank is the project manager of the NHQ project for his company. Frank is working with the project team, key stakeholders, and several subject matter experts on risks dealing with the new materials in the project. Frank wants to utilize a risk analysis method that will help the team to make decisions in the presence of the current uncertainty surrounding the new materials. Which risk analysis approach can Frank use to create an approach to make decisions in the presence of uncertainty?

• A. Monte Carlo Technique
• B. Qualitative risk analysis process
• C. Quantitative risk analysis process
• D. Delphi Technique

Answer: C

NEW QUESTION 16
Holly is the project manager of the NHQ project for her company. Her project sponsor, Tracy, has requested that Thomas, the department manager, from the Risk Management Department, will work with Holly to determine the effectiveness of the risk responses. Tracy and Thomas are concerned that some of the risks within Holly's project may not be addressed to depth they would like. In this scenario, who is responsible for ensuring that risk audits are performed at an appropriate frequency throughout the project?

• A. Thomas
• B. Tracy
• C. The project team
• D. Holly

Answer: D

NEW QUESTION 17
You are the project manager of the NKJ Project for your company. The project's success or
failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?

• A. Mitigation-ready project management
• B. Risk utility function
• C. Risk avoidance
• D. Risk-reward mentality

Answer: B

NEW QUESTION 18
You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?

• A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
• B. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
• C. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
• D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.

Answer: A

NEW QUESTION 19
You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?

• A. IRGC addresses questions such as the understanding of the secondary impacts of a risk.
• B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks.
• C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks.
• D. IRGC is both a concept and a tool.

Answer: B

NEW QUESTION 20
Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

• A. It determines which risk events have the most potential impact on the project.
• B. It uses round of anonymous surveys to predict which events are most likely to happen.
• C. It uses rounds of anonymous surveys to predict probability and impact.
• D. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives.

Answer: A

NEW QUESTION 21
......