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| Section | Objectives |
|---|---|
| Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Risk Analysis | - Qualitative Risk Analysis - Quantitative Risk Analysis |
| Risk Response Planning | - Opportunity Response Strategies - Threat Response Strategies |
| Risk Identification | - Identifying Individual Risks - Overall Project Risk Identification |
| Risk Strategy and Planning | - Risk Management Planning - Stakeholder Engagement in Risk |
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NEW QUESTION # 82
A project manager is hired as a consultant by the executive sponsor to manage a major change program that has experienced two past failures. The current executive sponsor believes the project is in good shape based on feedback from the last project manager and reports this to senior executive management. The executive sponsor believes there were no major risks threatening the time, budget, or quality of the project. In the first week of risk analysis, the project manager concludes the project timeline is unrealistic and is three months behind schedule. The organization's risk appetite is low.
What is the first step that should be taken?
Answer: C
NEW QUESTION # 83
The risk manager and the project team conduct a risk brainstorming session for a new project. The risk manager wants to involve the entire project team in a group risk prioritization exercise for the identified risks.
The project manager refuses the involvement of the entire project team due to resource concerns.
What should the risk manager do?
Answer: D
NEW QUESTION # 84
The project team has correctly identified, assessed, and planned responses for a project's risks. The risk manager is required to prepare a quarterly report on the performance of managing the risks.
What are two options the risk manager should consult for the analysis? (Choose two.)
Answer: B,C
Explanation:
Explanation
The risk manager should consult the risks that have materialized and the overall risk profile to analyze the performance of managing the risks, as well as the risks due to the number of claims submitted to the client.
These options provide insights into how well risks are being managed and the potential impact on the project.
The risk manager should consult the risks that have materialized and the overall risk profile, as these are indicators of how well the risk management process is working and how the project is affected by the risks.
The risk manager should also consult the risks due to the number of claims submitted to the client, as these are potential sources of conflict, litigation, and reputation damage that may impact the project objectives and stakeholder satisfaction. References: The Standard for Risk Management in Portfolios, Programs, and Projects, page 83; PMBOK Guide, 6th edition, page 414.
NEW QUESTION # 85
Beth is the project manager of the BFG Project for her company. In this project Beth has decided to create a contingency response based on the performance of the project schedule. If the project schedule variance is greater than $10,000 the contingency plan will be implemented. What is the
formula for the schedule variance?
Answer: D
NEW QUESTION # 86
There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?
Answer: C
NEW QUESTION # 87
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