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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Analysis | 23% | - Assess probability and impact - Use simulation and modeling techniques - Prioritize risks - Perform quantitative risk analysis - Perform qualitative risk analysis |
| Topic 2: Risk Response Planning | 13% | - Assign owners and responsibilities - Develop response strategies for threats and opportunities - Select appropriate response actions - Integrate responses into project plan |
| Topic 3: Risk Monitoring and Reporting | 19% | - Capture lessons learned - Monitor identified risks and triggers - Communicate risk status to stakeholders - Identify new and emerging risks - Update risk register and documents - Track effectiveness of responses |
| Topic 4: Risk Identification | 23% | - Identify internal and external risks - Capture opportunities as well as threats - Document risks and characteristics - Apply identification techniques - Update risk register |
| Topic 5: Risk Strategy and Planning | 22% | - Align risk management with organizational and project objectives - Create risk management plan - Develop risk management strategy - Define risk appetite, threshold, and tolerance - Integrate risk management into project lifecycle |
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NEW QUESTION # 82
You are the project manager of the GHG project for your company. You have identified the project risks, completed qualitative and quantitative analysis, and created risk responses. You also need to document how and when risk audits will be performed in the project. Where will you define the frequency of risk audits?
Answer: D
NEW QUESTION # 83
A project manager has determined that they cannot outsource work nor eliminate the scope. They also discover that they cannot buy insurance or mitigate the risk.
What should the project manager do?
Answer: A
Explanation:
Explanation
Since the project manager cannot avoid, transfer, or mitigate the risk, the only remaining option is to accept the risk and develop a contingency plan to handle it if it occurs.
NEW QUESTION # 84
Company A sells a new machine to company B. During the risk assessment, the stakeholders of company A do not want the risk of transporting the machine from their facility. Instead, they want company B to take responsibility and liability once the machine leaves company A's facility.
What strategy is company A using to deal with the risk?
Answer: D
NEW QUESTION # 85
When performing a risk analysis, a risk manager identifies not only negative risks but also positive risks, which might bring added value to the project. What should the risk manager do next?
Answer: D
Explanation:
The correct answer is B. Analyze the risks and add them to the risk register to continue the process.
In project risk management, risks include both threats and opportunities . Positive risks are legitimate project risks because they can create beneficial outcomes if properly understood and managed. Once these positive risks are identified, the next step is not to isolate them from the normal process, but to document them in the risk register and continue analysis and management activities just as with negative risks.
This answer is correct because it reflects the normal risk management flow:
* identify risks, including opportunities and threats,
* document them in the risk register,
* analyze and prioritize them,
* develop suitable response strategies.
Why the other options are incorrect:
* A. Prioritize opportunities as they are likely to bring benefits to the project. Opportunities should certainly be evaluated and prioritized, but first they must be formally captured and analyzed within the project's risk management process. The broader and more correct next step is to analyze and record them in the risk register.
* C. Create a separate project to exclusively manage positive risks and threats. This is unnecessary and contrary to normal practice. Positive and negative risks are managed within the same project risk framework.
* D. Assign separate stakeholder groups for positive risks and negative risks. Separate stakeholder groups are not required simply because risks are positive or negative. Risk ownership should be based on relevance, authority, and capability, not on whether the risk is an opportunity or a threat.
Best-practice reasoning:
A mature risk management process treats opportunities and threats as part of the same structured system. Both should be identified, documented, analyzed, monitored, and responded to in alignment with project objectives.
Reference-aligned basis:
This answer is consistent with standard risk management guidance that emphasizes:
* risks may be positive or negative,
* all identified risks should be recorded in the risk register,
* analysis continues after identification for both opportunities and threats.
References:
PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) , Identify Risks and Project Risk Management PMI, Practice Standard for Project Risk Management ISO 31000, risk as the effect of uncertainty on objectives
NEW QUESTION # 86
An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register.
What should the risk manager do next?
Answer: D
Explanation:
According to the PMI Risk Management Professional (PMI-RMP)Examination Content Outline1, a secondary risk is a risk that arises as a direct result of implementing a risk response to a specific risk. In this case, the risk response is to contract an external vendor to provide additional capacity and expertise to the project team. The secondary risk is the confidentiality risk that the contracts department has identified. The risk manager should assess the secondary risk to determine its probability, impact, and priority, and to plan appropriate responses. This is part of the Perform Qualitative Risk Analysis and Plan Risk Responses processes in the PMBOKGuide2. Reference: 1: PMI Risk Management Professional (PMI-RMP)Examination Content Outline 2: A Guide to the Project Management Body of Knowledge (PMBOKGuide) - Sixth Edition
NEW QUESTION # 87
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