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| Section | Objectives |
|---|---|
| Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
| Risk Analysis | - Qualitative Risk Analysis - Quantitative Risk Analysis |
| Risk Identification | - Overall Project Risk Identification - Identifying Individual Risks |
| Risk Response Planning | - Threat Response Strategies - Opportunity Response Strategies |
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NEW QUESTION # 46
A complex project that had hundreds of risks is almost done. The project manager is closing the risks as part of the closing process. One team member mentions that there are important documents to be updated.
Which document will need to be updated?
Answer: A
Explanation:
Explanation
When closing risks as part of the closing process, it is important to update the lessons learned document. This document captures the knowledge and experience gained during the project and can be valuable for future projects.
NEW QUESTION # 47
A project team's manager is responsible for delivering a specific initiative for the organization. They are preparing for a monthly meeting where the manager will present on the current state of this initiative. The agile project lead sends the manager the following email with the current initiative status (Refer to the email exhibit).
How many total story points is the entire initiative?
Answer: B
Explanation:
To determine the total story points for the entire initiative, we must sum up the estimates provided in the backlog from the email exhibit. The backlog includes the following user stories with their respective story point estimates:
* New log-in screen- 6
* Save passwords- 4
* Defect fixing - triaged top 10- 8
* Accessibility - color blind- 4
* Increase security- 21
* Shopping cart- 7
* Accept credit card payments- 5
* Accept bank drafts- 9
* New sort order- 3
* Add AI chatbot- 5
Total story points calculation:
6 + 4 + 8 + 4 + 21 + 7 + 5 + 9 + 3 + 5 =72 story points
Thus, the total number of story points for the initiative is72, makingoption Athe correct answer.
References:
* Agile estimation techniques suggest usingstory pointsto estimate the effort required forbacklog items.
* ThePMI Agile Practice Guideexplains that story points represent the complexity, effort, and risk associated with a user story.
* Agile teams usestory point estimationto gauge work effort without associating it with time directly.
This approach ensures that the team has a clear understanding of the overall workload and can manage risks effectively.
NEW QUESTION # 48
Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?
Answer: B
NEW QUESTION # 49
The risk manager also serves as a facilitator for a project and realizes the project team members have biases impacting how they perceive risks. What analysis is currently being used?
Answer: A
Explanation:
Explanation
The analysis currently being used is qualitative risk analysis. Qualitative risk analysis involves assessing risks based on their likelihood of occurrence and their potential impact on the project. This type of analysis can help identify biases that may be impacting how team members perceive risks.
Qualitative risk analysis is the process of prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. Qualitative risk analysis helps to identify the most significant risks that require attention and response planning. One of the tools and techniques used in qualitative risk analysis is risk data quality assessment, which evaluates the degree to which the data about individual project risks is useful for risk management. Risk data quality assessment considers various aspects of data quality, such as reliability, accuracy, integrity, precision, and bias. Bias is the tendency of human judgment to be influenced by personal or organizational preferences, assumptions, beliefs, or emotions, rather than by objective facts or evidence. Bias can affect how project team members perceive and assess risks, leading to inaccurate or incomplete risk analysis results. Therefore, the risk manager who realizes the project team members have biases impacting how they perceive risks is currently using qualitative risk analysis to prioritize the risks and assess the quality of risk data. References: PMI, Practice Standard for Project Risk Management, 2009, p. 37-38, 41-42.
NEW QUESTION # 50
During project execution, a project manager invites the stakeholders to a risk review meeting. During this meeting, a vendor highlights that the mitigation plan for a schedule risk has generated an additional risk.
What should the risk manager do first?
Answer: A
Explanation:
The risk manager should first update the risk register with the new risk identified by the vendor. This will help in keeping track of all the risks associated with the project and facilitate the subsequent planning and management of the risks.
The risk manager should update the new risk in the risk register, which is a project document that records the details of all identified risks, including their description, category, cause, probability, impact, and response strategy. Updating the risk register is the first step to acknowledge the existence of the new risk and to document its characteristics and potential effects on the project objectives. The risk register can then be used as an input for the Plan Risk Responses process, where the risk manager can develop appropriate actions to address the new risk. References: PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Sixth Edition, 2017, p. 397, 441.
NEW QUESTION # 51
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