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| Section | Objectives |
|---|---|
| Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
| Risk Response Planning | - Threat Response Strategies - Opportunity Response Strategies |
| Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
| Risk Identification | - Overall Project Risk Identification - Identifying Individual Risks |
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NEW QUESTION # 126
Donna is the project manager of the QSD Project and she believes Risk Event D in the following figure is likely to happen.
If this event does happen, how much will Donna have left in the risk contingency reserve if none of the other risk events have happened?
Answer: C
NEW QUESTION # 127
Which statement describes the risk portrayed on the risk matrix heat map below?
Answer: A
Explanation:
The risk matrix heat map is a graphical tool that displays the probability and impact of risks in a project. The horizontal axis represents the probability of occurrence, and the vertical axis represents the impact rating. The colors indicate the level of risk exposure, from green (low) to red (high). The risk in question is located in the upper right quadrant of the matrix, which means it has a high impact rating. The probability of occurrence can be estimated by looking at the scale on the horizontal axis. The risk is slightly to the left of the 50% mark, which means it has a probability of occurrence of about 40%. Therefore, the correct statement that describes the risk is B. The risk has a probability of 40% of occurrence and a high impact rating. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 104-105.
NEW QUESTION # 128
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: C
NEW QUESTION # 129
A project manager is leading a complex, high-risk construction project in the city center. To address risk based on lessons learned from similar past building projects, the risk manager assigns a team member to assess and confirm risk thresholds for the project.
What should the risk manager do?
Answer: A
Explanation:
The correct answer is B. Work with stakeholders to achieve consensus on risk thresholds.
Risk thresholds represent the specific levels of risk exposure or variation that stakeholders are willing to accept. Because thresholds are closely tied to stakeholder risk appetite, tolerance, project objectives, business priorities, and governance expectations, they should not be set by the project team alone. The risk manager should therefore work collaboratively with stakeholders to confirm and agree on those thresholds .
The question states that the team member is assessing and confirming thresholds using lessons learned from similar projects. Historical information is useful input, but thresholds for the current project must still be validated with the relevant stakeholders. In a complex, high-risk city-center construction project, many stakeholder interests may influence acceptable risk levels, including cost, schedule, safety, regulatory exposure, public disruption, and contractual obligations. For that reason, stakeholder consensus is the most appropriate action.
Why the other options are incorrect:
* A. Develop risk assessment processes and tools to quantify risk thresholds Processes and tools may support analysis, but they do not themselves establish agreed thresholds. Thresholds must reflect stakeholder acceptance levels, not just analytical design.
* C. Use subject matter experts and historical data to estimate risk thresholds This is useful supporting input, especially from past projects, but the question asks what the risk manager should do to assess and confirm the thresholds. Estimates from experts and history are not sufficient without stakeholder agreement.
* D. Review regulatory requirements and the contract to identify risk thresholds Regulatory and contractual limits are important constraints, but they do not fully define project risk thresholds.
Stakeholder tolerance may be narrower than legal or contractual boundaries.
Best-practice reasoning:
Risk thresholds should be established and validated during risk planning in consultation with key stakeholders because thresholds guide evaluation, prioritization, escalation, and response decisions. Without stakeholder agreement, the project may misjudge which risks are acceptable and which require action.
Reference-aligned basis:
This answer is consistent with standard risk management guidance that emphasizes:
* risk thresholds are linked to stakeholder risk appetite and tolerance,
* thresholds are established during planning,
* stakeholder engagement is necessary to define and confirm acceptable levels of risk exposure.
References:
PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) , Plan Risk Management PMI, Practice Standard for Project Risk Management ISO 31000, risk criteria and stakeholder consultation principles
NEW QUESTION # 130
The project team is updating the risk register with the minimum acceptable level of exposure and impact for each risk. The team also wants to determine if they have reached the maximum level of exposure before they escalate the risk.
What should the team perform in this scenario?
Answer: C
Explanation:
Explanation
Quantitative risk analysis helps determine the minimum acceptable level of exposure and impact for each risk.
It also helps to understand if the maximum level of exposure has been reached before escalating the risk.
(Reference: PMBOK Guide, 6th Edition, p. 423)
NEW QUESTION # 131
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