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| Section | Objectives |
|---|---|
| Topic 1: Risk Response Planning | - Threat Response Strategies - Opportunity Response Strategies |
| Topic 2: Risk Monitoring and Control | - Risk Audits and Reviews - Risk Reporting and Communication |
| Topic 3: Risk Analysis | - Quantitative Risk Analysis - Qualitative Risk Analysis |
| Topic 4: Risk Strategy and Planning | - Stakeholder Engagement in Risk - Risk Management Planning |
| Topic 5: Risk Identification | - Identifying Individual Risks - Overall Project Risk Identification |
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NEW QUESTION # 107
You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?
Answer: A
NEW QUESTION # 108
You are the project manager of the GHY project for your organization. You are working with your project team to begin identifying risks for the project. As part of your preparation for identifying the risks within the project you will need eleven inputs for the process. Which one of the following is NOT an input to the risk identification process?
Answer: D
NEW QUESTION # 109
A risk manager is collaborating with project stakeholders and the project team to identify risks in a construction project. The risk manager intends to use an approach that engages stakeholders based on information, such as scope baseline and project estimates, while also determining risk impacts based on this approach.
Which risk identification approach should the risk manager use to achieve this goal?
Answer: C
Explanation:
Assumptions and constraints analysis focuses on reviewing project documents (scope baseline, estimates, etc.) to determine what is assumed or constrained, and then assesses the risks arising from those assumptions and constraints. The PMBOK Guide describes:
"Assumptions and constraints analysis explores the validity of project assumptions and constraints, as documented in scope baselines and estimates, and evaluates their potential impact on project objectives."
- PMBOK Guide, 6th Edition, Section 11.2.2.2
References:
PMBOK Guide, 6th Edition, Section 11.2.2.2
NEW QUESTION # 110
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: C
Explanation:
Adding the identified risk to the risk register is the best action that the risk manager can take to address this risk. The risk register is a document that records the identified risks, their characteristics, their status, and their responses. By adding the risk to the risk register, the risk manager can ensure that the risk is not overlooked or ignored, and that it will be subjected to further probability and impact analysis to determine its priority and response strategy. Accepting the identified risk because other stakeholders feel that there are higher priority risks to address is not a good practice, as it may lead to overlooking a potentially significant risk that could affect the stakeholder's team. Mitigating the identified risk in order to reduce the probability of impacting the stakeholder's team is not advisable, as it may be a premature or unnecessary action without proper analysis of the risk probability and impact. Escalating the identified risk to the project sponsor and allowing them to determine the best course of action is not appropriate, as it may be an overreaction or a sign of lack of competence from the risk manager, who should be able to handle the risk identification and analysis process. References: PMI Risk Management Professional (PMI-RMP)® Exam Content Outline1, PMI Practice Standard for Project Risk Management2, Risk Management Professional (PMI-RMP)® Cert Guide3
NEW QUESTION # 111
The project team recorded a risk in the risk register indicating that weather-related delays may impact equipment delivery during project execution. When it is time to request the equipment shipment there is bad weather, but the client wants the equipment delivered anyway.
What should the project manager do?
Answer: A
Explanation:
Explanation
The project manager should proceed with the planned risk response to move the equipment (C) since the risk of weather-related delays was already identified and recorded in the risk register. This approach ensures that the project team is prepared to handle the situation andcan mitigate the impact of the risk. This is consistent with the PMI's PMBOK Guide, Sixth Edition.
NEW QUESTION # 112
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