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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Monitoring and Reporting | 19% | - Update risk register and documents - Capture lessons learned - Identify new and emerging risks - Track effectiveness of responses - Communicate risk status to stakeholders - Monitor identified risks and triggers |
| Topic 2: Risk Identification | 23% | - Document risks and characteristics - Apply identification techniques - Update risk register - Capture opportunities as well as threats - Identify internal and external risks |
| Topic 3: Risk Analysis | 23% | - Assess probability and impact - Perform quantitative risk analysis - Prioritize risks - Perform qualitative risk analysis - Use simulation and modeling techniques |
| Topic 4: Risk Strategy and Planning | 22% | - Create risk management plan - Define risk appetite, threshold, and tolerance - Integrate risk management into project lifecycle - Align risk management with organizational and project objectives - Develop risk management strategy |
| Topic 5: Risk Response Planning | 13% | - Select appropriate response actions - Integrate responses into project plan - Develop response strategies for threats and opportunities - Assign owners and responsibilities |
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NEW QUESTION # 182
A project in the execution phase at the customer's site has an issue concerning new parts that do not fit properly into a machine. The site project manager cannot find this high probability risk in the risk register.
What action should the site project manager take?
Answer: B
NEW QUESTION # 183
The risk manager wants to determine what is to be measured, how it is to be measured, and what project outcomes are to be measured. In which of the following processes should this be established?
Answer: D
NEW QUESTION # 184
Fill in the blank with an appropriate phrase. The _________ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied.
Answer: A
NEW QUESTION # 185
A project manager has just been assigned to a new project. The project manager has been tasked by the project sponsor to ensure the project risks are closely managed. The project manager starts with developing the risk management plan.
What is the expected outcome of developing the risk management plan?
Answer: A
Explanation:
The expected outcome of developing the risk management plan is to define how risk management activities will be executed throughout the project. This includes the processes, tools, and techniques that will be used to identify, assess, and manage risks.
The risk management plan is a document that describes how risk management activities will be structured and performed throughout the project. It provides guidance on how to identify, analyze, respond, monitor, and control risks, as well as how to communicate, document, and report them. The risk management plan also defines the roles and responsibilities of the project team and stakeholders in risk management, the risk categories and breakdown structure, the risk thresholds and appetite, the risk management tools and techniques, and the risk management budget and schedule. The risk management plan is an output of the plan risk management process, which is the first process in the project risk management knowledge area.
Developing the risk management plan is essential for ensuring that the project risks are closely managed and aligned with the project objectives and stakeholder expectations. References: PMI, Project Risk Management, 2nd edition, 2019, p. 67-681
NEW QUESTION # 186
You are the project manager of the NKJ Project for your company. The project's success or failure will have a significant impact on your organization's profitability for the coming year. Management has asked you to identify the risk events and communicate the event's probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?
Answer: A
NEW QUESTION # 187
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