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| Section | Weight | Objectives |
|---|---|---|
| Risk Monitoring and Reporting | 19% | - Monitor identified risks and triggers - Track effectiveness of responses - Capture lessons learned - Identify new and emerging risks - Communicate risk status to stakeholders - Update risk register and documents |
| Risk Response Planning | 13% | - Select appropriate response actions - Integrate responses into project plan - Develop response strategies for threats and opportunities - Assign owners and responsibilities |
| Risk Strategy and Planning | 22% | - Define risk appetite, threshold, and tolerance - Integrate risk management into project lifecycle - Create risk management plan - Align risk management with organizational and project objectives - Develop risk management strategy |
| Risk Identification | 23% | - Capture opportunities as well as threats - Update risk register - Identify internal and external risks - Apply identification techniques - Document risks and characteristics |
| Risk Analysis | 23% | - Use simulation and modeling techniques - Assess probability and impact - Prioritize risks - Perform quantitative risk analysis - Perform qualitative risk analysis |
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NEW QUESTION # 140
Beth is a project team member on the JHG Project. Beth has added extra features to the project and this has introduced new risks to the project work. The project manager of the JHG project elects to remove the features Beth has added. The process of removing the extra features to remove the risks is called what?
Answer: C
Explanation:
Explanation
NEW QUESTION # 141
Which positive risk response best describes a teaming agreement?
Answer: A
NEW QUESTION # 142
Which input could be utilized to perform quantitative risk analysis to reduce uncertainty?
Answer: C
NEW QUESTION # 143
A risk manager on an infrastructure project gathers and analyzes performance data. The risk manager wants to identify which variables will impact the schedule and determine how these factors interact.
Which data analysis tool should the risk manager use to forecast future performance?
Answer: A
Explanation:
Regression analysis is a data analysis tool that helps identify variables that impact the schedule and determine how these factors interact. It is used to forecast future performance based on historical data and the relationship between variables. (Reference: PMBOK Guide, 6th Edition, p. 248) According to the PMI Risk Management Professional (PMI-RMP) Reference Materials, regression analysis is a data analysis tool that examines the relationship between one or more independent variables and a dependent variable1. Regression analysis can be used to forecast future performance based on historical data and trends2. In this case, the risk manager wants to identify which variables will impact the schedule (the dependent variable) and determine how these factors interact (the independent variables). Therefore, the risk manager should use regression analysis to create a mathematical model that can predict the schedule performance based on the values of the variables. Regression analysis can also help the risk manager to assess the significance and strength of the relationship between the variables and the schedule3.
References: 1: PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition, 2017, p. 720 2: PMI, Practice Standard for Project Risk Management, 2009, p. 95 3: Tips and Tricks for Passing the Risk Management Professional (PMI-RMP ...
NEW QUESTION # 144
Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?
Answer: B
NEW QUESTION # 145
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