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| Section | Weight | Objectives |
|---|---|---|
| Perform Specialized Risk Analyses | 14-16% | - Analyze complex risk scenarios and dependencies - Perform advanced quantitative analysis (e.g., Monte Carlo, decision trees) - Conduct specialized risk assessments (e.g., regulatory, compliance) |
| Risk Strategy and Planning | 19-20% | - Develop risk management strategy - Establish risk management policies and procedures - Define risk thresholds and metrics - Plan risk management activities - Integrate risk management into project lifecycle |
| Risk Monitoring and Reporting | 19-20% | - Capture lessons learned regarding risks - Track risk metrics and triggers - Monitor identified and emerging risks - Update risk register and documentation - Evaluate risk response execution - Report risk management performance - Review risk audit results |
| Stakeholder Engagement | 19-20% | - Communicate risk information effectively - Involve stakeholders in risk management process - Negotiate risk ownership and accountability - Facilitate risk workshops and meetings - Manage stakeholder expectations regarding risks - Identify stakeholders and their risk tolerance - Build consensus on risk response strategies - Promote risk awareness and understanding - Collaborate with cross-functional teams |
| Risk Process Facilitation | 25-28% | - Manage contingency reserves - Evaluate risk response effectiveness - Identify risks using various techniques - Perform qualitative risk analysis - Plan risk responses - Perform quantitative risk analysis - Implement risk responses |
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NEW QUESTION # 76
Mark works as a project manager of the NNH project. In this project, he has created a contingency response that the cost performance index should be less than 0.91. The NHH project has a budget at completion of $950,000 and is 43 percent complete - though the project should be 50 percent complete.
The project has spent $470,897 to reach the 43 percent complete milestone. What is the project's cost performance index?
Answer: A
NEW QUESTION # 77
Mary is the project manager of PKT project. In Mary's project there are certain enterprise environmental factors that require Mary to use modeling and simulation techniques to predict the likelihood of achieving cost and schedule objectives in the project. Mary is using a technique for which the cost estimates are chosen at random for each iteration of the analysis, such as pessimistic, most likely, and worst-case scenarios. What type of analysis is Mary using in this project?
Answer: B
NEW QUESTION # 78
Which risk response is acceptable for both positive and negative risk events?
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION # 79
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: D
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 # 80
Which of the following are examples of relevant data gathering tools?
Answer: A
Explanation:
Explanation/Reference:
NEW QUESTION # 81
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