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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Analysis | 23% | - Perform quantitative risk analysis - Prioritize risks - Use simulation and modeling techniques - Perform qualitative risk analysis - Assess probability and impact |
| Topic 2: Risk Response Planning | 13% | - Assign owners and responsibilities - Select appropriate response actions - Integrate responses into project plan - Develop response strategies for threats and opportunities |
| Topic 3: Risk Identification | 23% | - Apply identification techniques - Document risks and characteristics - Capture opportunities as well as threats - Update risk register - Identify internal and external risks |
| Topic 4: Risk Monitoring and Reporting | 19% | - Capture lessons learned - Monitor identified risks and triggers - Track effectiveness of responses - Communicate risk status to stakeholders - Update risk register and documents - Identify new and emerging risks |
| Topic 5: Risk Strategy and Planning | 22% | - Integrate risk management into project lifecycle - Create risk management plan - Develop risk management strategy - Define risk appetite, threshold, and tolerance - Align risk management with organizational and project objectives |
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NEW QUESTION # 111
A risk management professional is currently facilitating the risk planning process with the project team. To increase the breadth of considered risks, the team wants to include high-level and strategic project risks.
What should the risk management professional do next?
Answer: B
Explanation:
Explanation
A SWOT analysis is a risk identification technique that helps to identify high-level and strategic project risks by examining the internal and external factors that may affect the project objectives. A SWOT analysis involves listing the strengths, weaknesses, opportunities, and threats of the project, and then analyzing how they may impact the project positively or negatively. A SWOT analysis can help to uncover potential risks that may not be obvious from other techniques, such as prompt lists, interviews, or brainstorming12 References: 1: PMI Risk Management Professional (PMI-RMP) Handbook, page 10 2: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Seventh Edition, page 11.2.2.1
NEW QUESTION # 112
You are the project manager for GHY Project and are working to create a risk response for a negative risk. You and the project team have identified the risk that the project may not complete on time, as required by the management, due to the creation of the user guide for the software you're creating. You have elected to hire an external writer in order to satisfy the requirements and to alleviate the risk event. What type of risk response have you elected to use in this instance?
Answer: C
NEW QUESTION # 113
When performing a risk analysis, a risk manager identifies not only negative risks but also positive risks, which might bring added value to the project. What should the risk manager do next?
Answer: C
Explanation:
The correct answer is B. Analyze the risks and add them to the risk register to continue the process.
In project risk management, risks include both threats and opportunities . Positive risks are legitimate project risks because they can create beneficial outcomes if properly understood and managed. Once these positive risks are identified, the next step is not to isolate them from the normal process, but to document them in the risk register and continue analysis and management activities just as with negative risks.
This answer is correct because it reflects the normal risk management flow:
* identify risks, including opportunities and threats,
* document them in the risk register,
* analyze and prioritize them,
* develop suitable response strategies.
Why the other options are incorrect:
* A. Prioritize opportunities as they are likely to bring benefits to the project. Opportunities should certainly be evaluated and prioritized, but first they must be formally captured and analyzed within the project's risk management process. The broader and more correct next step is to analyze and record them in the risk register.
* C. Create a separate project to exclusively manage positive risks and threats. This is unnecessary and contrary to normal practice. Positive and negative risks are managed within the same project risk framework.
* D. Assign separate stakeholder groups for positive risks and negative risks. Separate stakeholder groups are not required simply because risks are positive or negative. Risk ownership should be based on relevance, authority, and capability, not on whether the risk is an opportunity or a threat.
Best-practice reasoning:
A mature risk management process treats opportunities and threats as part of the same structured system. Both should be identified, documented, analyzed, monitored, and responded to in alignment with project objectives.
Reference-aligned basis:
This answer is consistent with standard risk management guidance that emphasizes:
* risks may be positive or negative,
* all identified risks should be recorded in the risk register,
* analysis continues after identification for both opportunities and threats.
References:
PMI, A Guide to the Project Management Body of Knowledge (PMBOK Guide) , Identify Risks and Project Risk Management PMI, Practice Standard for Project Risk Management ISO 31000, risk as the effect of uncertainty on objectives
NEW QUESTION # 114
As a result of the Control Risk process, the project manager updates the project risk documents using outcomes from which of the following?
Answer: C
NEW QUESTION # 115
During the monthly executive review meeting, the project sponsor would like to understand how the project team has planned to manage risks that were identified in the last meeting. What should the project manager do?
Answer: D
Explanation:
Explanation
The The project manager should include secondary and residual risks as part of the risk response plan.
Secondary risks are those risks that arise as a direct result of implementing a risk response to a specific risk.
Residual risks are those risks that are expected to remain after the planned responses of risks have been taken, as well as those that have been deliberately accepted. Both secondary and residual risks should be identified, analyzed, and monitored throughout the project life cycle. The project manager should communicate the risk response plan to the project sponsor and other stakeholders, and explain how the project team has planned to manage the secondary and residual risks12 References: 1: PMI Risk Management Professional (PMI-RMP) Handbook, page 10 2: A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Seventh Edition, page 11.2.2.1 project manager should include secondary and residual risks in the risk response plan, as they may still impact the project. Proactively addressing these risks will help the project team to be prepared and manage them effectively if they occur.
NEW QUESTION # 116
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