Which of the following is the primary project artifact used to capture risks, strategies, ownership patterns, and other vital information about an organization's project risk baseline?
Answer : B
The project manager receives an updated project schedule from a sub team detailing the deliverables, dates, and durations for a critical milestone on the development and testing for off-shore activities. This report is received one hour before a meeting with the chief executive officer (CEO) to present an updated master schedule of the critical path. The CEO has been promised a discussion on the project schedule several times. However, based on the recent update from the off-shore team, the project manager realizes this new schedule is not realistic. There are new risks associated with it and it is not well thought out. Some key stakeholders want to present this revised plan to the CEO. This meeting has been postponed twice already.
Which action should the project manager take before meeting with the CEO?
Answer : C
During a weekly project review meeting, a stakeholder identifies some new risks. When creating risk responses for these newly identified risks, what should the project team do to discover trends and more efficiently manage the responses?
Answer : A
Due to lack of specific knowledge within a technical domain, the project manager decides an expert from outside the organization should be invited into the project to identify and analyze risks. The project manager understands that the risk management process has many benefits, but it will also have clear costs.
Which of the following should the project manager do?
Answer : D
A project team is conducting initial risk planning. What other risk-related task should the project manager perform?
Answer : A
A company is executing a high-visibility project to develop mobile phone technology. The project sponsor is concerned that an overall high risk rating may undermine support for the project within the company. The sponsor has instructed the project manager to manipulate the data used for Monte Carlo simulation to artificially reduce the risk rating.
What should the project manager do?
Answer : A
The project manager schedules a third workshop to facilitate the qualitative risk analysis. One team member complains that they should not have iterative meetings, but rather, should complete this at the beginning of the project.
Which of the following should the project manager do?
Answer : D
Which of the following situational factors has a significant effect on risk attitude?
Answer : D
What are the supporting elements for effective risk management?
Answer : C
Upon returning from vacation, the risk manager observes during the project status meeting that several activities being accomplished were not in the original plan.
What should the risk manager do first?
Answer : D
As part of identifying the risk appetite of project stakeholders, the project manager must first identify the stakeholders. Which of the following inputs are used to identify project stakeholders?
Answer : C
After applying several risk identification techniques, the risk manager is ready to document project risks in the risk register, including risk name, risk statement, probability of occurring, and potential impact. After this information is complete, who is best suited to serve as risk owners?
Answer : D
Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?
Answer : B
Within the organizational process assets, where would the project manager find risk response effectiveness from past projects?
Answer : C
Which analysis method uses stratified sampling without replacement?
Answer : A
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