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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Response Planning | 13% | - Assign owners and responsibilities - Select appropriate response actions - Develop response strategies for threats and opportunities - Integrate responses into project plan |
| Topic 2: Risk Strategy and Planning | 22% | - Integrate risk management into project lifecycle - Create risk management plan - Define risk appetite, threshold, and tolerance - Develop risk management strategy - Align risk management with organizational and project objectives |
| Topic 3: Risk Monitoring and Reporting | 19% | - Identify new and emerging risks - Monitor identified risks and triggers - Update risk register and documents - Communicate risk status to stakeholders - Capture lessons learned - Track effectiveness of responses |
| Topic 4: Risk Analysis | 23% | - Assess probability and impact - Use simulation and modeling techniques - Perform qualitative risk analysis - Perform quantitative risk analysis - Prioritize risks |
| Topic 5: Risk Identification | 23% | - Update risk register - Apply identification techniques - Capture opportunities as well as threats - Document risks and characteristics - Identify internal and external risks |
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NEW QUESTION # 331
____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
Answer: A
NEW QUESTION # 332
Examine the figure given below.
What will be the expected monetary value of Risk C?
Answer: B
NEW QUESTION # 333
Which of the following statements describe the purpose of an Issue Log? Each correct answer represents a complete solution. Choose all that apply.
Answer: B,C,D
NEW QUESTION # 334
A list of risks was identified that could occur during the design phase. Now, the team finished the design phase and those risks did not materialize.
What should the project manager do next?
Answer: A
Explanation:
Explanation
Since the design phase is complete and the identified risks did not materialize, the project manager should close the risks and update their status in the risk register.
NEW QUESTION # 335
A risk manager and relevant stakeholders have completed a risk response plan for a project. They have identified and planned responses to the known risks; however, a risk owner has identified and reported some residual risks not previously addressed.
What should the risk manager do first?
Answer: D
Explanation:
Residual risks are the risks that remain after the risk response plan has been implemented. They are the risks that are accepted by the project team and stakeholders as part of the project. Residual risks may have low probability or impact, but they still need to be monitored and controlled throughout the project. The first thing that the risk manager should do when a risk owner identifies and reports some residual risks is to analyze, document, and communicate them to the relevant stakeholders. The risk manager should assess the probability and impact of the residual risks, and determine if they require any further response or contingency plan. The risk manager should also update the risk register and the risk report with the information about the residual risks, and share them with the stakeholders who need to be aware of them. This will help the project team and stakeholders to be prepared for any potential occurrence of the residual risks, and to take appropriate actions if needed. Reference: PMI, The Standard for Risk Management in Portfolios, Programs, and Projects, 2019, p. 94-95, 101.
NEW QUESTION # 336
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