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| Section | Weight | Objectives |
|---|---|---|
| Risk Monitoring and Reporting | 19-20% | - Report risk management performance - Evaluate risk response execution - Track risk metrics and triggers - Update risk register and documentation - Monitor identified and emerging risks - Capture lessons learned regarding risks - Review risk audit results |
| Risk Process Facilitation | 25-28% | - Perform qualitative risk analysis - Evaluate risk response effectiveness - Identify risks using various techniques - Implement risk responses - Perform quantitative risk analysis - Manage contingency reserves - Plan risk responses |
| Risk Strategy and Planning | 19-20% | - Integrate risk management into project lifecycle - Plan risk management activities - Define risk thresholds and metrics - Establish risk management policies and procedures - Develop risk management strategy |
| Perform Specialized Risk Analyses | 14-16% | - Perform advanced quantitative analysis (e.g., Monte Carlo, decision trees) - Conduct specialized risk assessments (e.g., regulatory, compliance) - Analyze complex risk scenarios and dependencies |
| Stakeholder Engagement | 19-20% | - Build consensus on risk response strategies - Manage stakeholder expectations regarding risks - Promote risk awareness and understanding - Involve stakeholders in risk management process - Facilitate risk workshops and meetings - Communicate risk information effectively - Identify stakeholders and their risk tolerance - Collaborate with cross-functional teams - Negotiate risk ownership and accountability |
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NEW QUESTION # 161
____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
Answer: D
NEW QUESTION # 162
During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.
Which action should the risk manager take to address this risk?
Answer: A
NEW QUESTION # 163
A race director is planning a marathon with US$80,000 in upfront costs that will be offset by race fees. The remainder of the funds will be donated to a national charity. State law mandates that all money paid by the participants must be refunded if the race is cancelled for any reason.
Which of the following is the best example of a risk mitigation response?
Answer: A
NEW QUESTION # 164
You are the project manager of the NHH project for your company. You and the project team have completed the quantitative risk analysis for your project. During this process you create a contingency reserve based on the risk probability-impact matrix as seen in the figure below.
Based on the information in the figure above, what amount would you need to include in your risk contingency fund?
Answer: A
Explanation:
Explanation/Reference:
NEW QUESTION # 165
You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?
Answer: A
NEW QUESTION # 166
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