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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Analysis | 23% | - Perform quantitative risk analysis - Prioritize risks - Use simulation and modeling techniques - Assess probability and impact - Perform qualitative risk analysis |
| Topic 2: Risk Identification | 23% | - Identify internal and external risks - Document risks and characteristics - Apply identification techniques - Update risk register - Capture opportunities as well as threats |
| Topic 3: Risk Strategy and Planning | 22% | - Define risk appetite, threshold, and tolerance - Integrate risk management into project lifecycle - Develop risk management strategy - Align risk management with organizational and project objectives - Create risk management plan |
| Topic 4: Risk Response Planning | 13% | - Assign owners and responsibilities - Integrate responses into project plan - Select appropriate response actions - Develop response strategies for threats and opportunities |
| Topic 5: Risk Monitoring and Reporting | 19% | - Monitor identified risks and triggers - Identify new and emerging risks - Communicate risk status to stakeholders - Track effectiveness of responses - Capture lessons learned - Update risk register and documents |
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NEW QUESTION # 93
You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?
Answer: A
NEW QUESTION # 94
A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company's business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.
What should the project manager do next?
Answer: A
Explanation:
According to the PMBOK Guide, 6th edition, Section 11.4.3.1, Risk Thresholds, risk thresholds are the level of risk exposure above which risks are addressed and below which risks may be accepted. Risk thresholds are determined by the organization's risk appetite, which is the degree of uncertainty that an organization is willing to accept in pursuit of its goals. Therefore, when the project manager is informed by the risk owner that the exposure from two high-impact risks are hitting the risk thresholds, the project manager should complete an assessment and confirm the response with the sponsors, who are the key stakeholders for the project and have a low risk appetite. The project manager should not update the project management plan, perform an assumptions and constraints analysis, or implement mitigation measures without first consulting with the sponsors and obtaining their approval. References: PMBOK Guide, 6th edition, Section 11.4.3.1, Risk Thresholds
NEW QUESTION # 95
You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.
Answer: A,B,C
NEW QUESTION # 96
You are the project manager for the NHQ Project. This project requires that you install 140 copies of design software onto your department's computers. The vendor offers you a twenty percent discount on the software if your company will purchase 150 or more copies of the software. You communicate this offer with other departments in your firm to see if anyone else would need 10 copies of the software to save your project a significant amount of funds. What is this risk response called?
Answer: C
NEW QUESTION # 97
Elizabeth is a project manager for her organization and she finds risk management to be very difficult for her to manage. She asks you, a lead project manager, at what stage in the project will risk management become easier. What answer best resolves the difficulty of risk management practices and the effort required?
Answer: D
NEW QUESTION # 98
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