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| Section | Objectives |
|---|---|
| Risk Response Planning | - Threat Response Strategies - Opportunity Response Strategies |
| Risk Identification | - Identifying Individual Risks - Overall Project Risk Identification |
| Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
| Risk Strategy and Planning | - Risk Management Planning - Stakeholder Engagement in Risk |
| Risk Monitoring and Control | - Risk Reporting and Communication - Risk Audits and Reviews |
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NEW QUESTION # 173 
Contingency Reserve Total: US$213,000
Due to a mitigation strategy, Risk 4's probability has been reduced to 40%. What would be the new contingency reserve total?
Answer: A
NEW QUESTION # 174
Donna is the project manager of the QSD Project and she believes Risk Event D in the following figure is likely to happen.
If this event does happen, how much will Donna have left in the risk contingency reserve if none of the other risk events have happened?
Answer: A
NEW QUESTION # 175
When should the benefits of quantitative risk analysis be weighed against the effort required to ensure that the additional insights and value justify the extra effort?
Answer: A
Explanation:
The Plan Risk Management process is where the project team determines the depth and breadth of risk management activities, including whether quantitative risk analysis is appropriate. PMBOK Guide says:
"The Plan Risk Management process determines how to approach and conduct the risk management activities for a project. This includes weighing the benefits and effort of advanced techniques such as quantitative risk analysis."
- PMBOK Guide, 6th Edition, Section 11.1
References:
PMBOK Guide, 6th Edition, Section 11.1
NEW QUESTION # 176
Gary is the project manager of the MMQ project for his company. He is working with his project team to plan the risk responses for his project. Sarah, a project team member, does not
understand the process that Gary is using to plan the risk responses. Which approach is the preferred method to address project risks and the risk responses?
Answer: D
NEW QUESTION # 177
You work as a project manager for BlueWell Inc. You are preparing to plan risk responses for your project with your team. How many risk response types are available for a negative risk event in the project?
Answer: C
NEW QUESTION # 178
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