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| Section | Objectives |
|---|---|
| Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
| Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
| Risk Identification | - Overall Project Risk Identification - Identifying Individual Risks |
| Risk Response Planning | - Opportunity Response Strategies - Threat Response Strategies |
| Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
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NEW QUESTION # 239
During a meeting to develop the risk management plan, the risk manager recognizes that risks may be identified that could also impact other projects that the company is pursuing. What should the risk manager do?
Answer: D
Explanation:
The risk manager should include an escalation process in the risk management plan to address risks that may impact other projects. This ensures that any identified risks that could affect multiple projects are communicated and managed appropriately across the organization.
The risk manager should include an escalation process in the risk management plan to deal with risks that may affect other projects or the organization as a whole. An escalation process is a set of procedures that defines how and when risks should be communicated to higher levels of authority or responsibility for decision making or resolution. The escalation process should specify the criteria, roles, responsibilities, and communication channels for escalating risks. The risk manager should follow the escalation process when identifying risks that may have extensive impacts beyond the scope of the project. The other options are not appropriate actions for the risk manager to take. Contacting the risk managers of the other projects and informing them is not sufficient, as it does not ensure that the risks are properly addressed or resolved. Taking note of the extensive impact of these risks in the risk register is not enough, as it does not involve the necessary stakeholders or decision makers. Addressing the unique characteristics of these risks on a case-by- case basis is not consistent, as it does not follow a standard process or protocol. References: 2, 3, 4
NEW QUESTION # 240
You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?
Answer: C
NEW QUESTION # 241
You are the project manager for the NHQ Project. This project requires that you install 140 copies of design software onto your department's computers. The vendor offers you a twenty percent discount on the software if your company will purchase 150 or more copies of the software. You communicate this offer with other departments in your firm to see if anyone else would need 10 copies of the software to save your project a significant amount of funds. What is this risk response called?
Answer: B
NEW QUESTION # 242
The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?
Answer: D
NEW QUESTION # 243
Frank is a project team member in your project. Frank has been adding changes to the software interface for the software that your project is creating. Because Frank has been adding these features new risks have entered into the project. You elect that these additions should be removed from the project even if it takes extra time and money to remove the features. What are these riskladen features called?
Answer: A
NEW QUESTION # 244
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