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| Section | Objectives |
|---|---|
| Topic 1: Risk Identification | - Identifying Individual Risks - Overall Project Risk Identification |
| Topic 2: Risk Response Planning | - Opportunity Response Strategies - Threat Response Strategies |
| Topic 3: Risk Analysis | - Qualitative Risk Analysis - Quantitative Risk Analysis |
| Topic 4: Risk Monitoring and Control | - Risk Reporting and Communication - Risk Audits and Reviews |
| Topic 5: Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
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NEW QUESTION # 255
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,C,D
NEW QUESTION # 256
You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?
Answer: B
NEW QUESTION # 257
Bill is the project manager of the JKH Project. He and the project team have identified a risk event in the project with a high probability of occurrence and the risk event has a high cost impact on the project. Bill discusses the risk event with Virginia, the primary project customer, and she decides that the requirements surrounding the risk event should be removed from the project.
The removal of the requirements does affect the project scope, but it can release the project from the high risk exposure. What risk response has been enacted in this project?
Answer: D
NEW QUESTION # 258
During project planning, a risk is identified for which the risk manager has defined a mitigationstrategy. Later during project execution, this risk still leaves substantial residual risk.
What should the risk manager do to handle this situation?
Answer: A
Explanation:
Explanation
If a risk still leaves substantial residual risk after implementing the mitigation strategy, the risk manager should revisit the risk register and redefine the mitigation strategy to reduce the residual risk to an acceptable level.
NEW QUESTION # 259
In the middle of a construction project, the primary construction materials provider canceled the contract and moved to a competitor offering a higher price. The risk manager considers this a low-impact issue because many construction materials providers can fulfill the project demands. However, after informing the stakeholders of this issue, the major investor is about to drop their intention to continue executing the project. The risk manager does not understand their decision.
What should the risk manager do next to understand the major stakeholder's decision regarding the project?
Answer: B
Explanation:
A stakeholder impact and influence analysis is a technique to identify the level of interest and power of each stakeholder, and to assess how they may affect or be affected by the project outcomes. It can help the risk manager to understand the stakeholder's perspective and expectations, and to communicate with them effectively. In this case, the risk manager should perform a stakeholder impact and influence analysis to understand why the major investor is about to drop their intention to continue executing the project, and to address their concerns and needs. A risk impact analysis, a risk reserve analysis, and a procurement analysis are not relevant to the stakeholder's decision, and would not help the risk manager to understand their rationale. Reference: PMI Risk Management Professional (PMI-RMP)Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)Cert Guide3
NEW QUESTION # 260
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