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Total 451 questions
Ruth is the project manager of ISFH project for her company. This project is forty percent complete and it appears that some risk events are going to happen in the project that will have an adverse affect on the project. Ruth creates a change request regarding the risks. Is this a valid response?
- A. No, change requests should not address risks, only risk response strategies should be issued.
- B. No, change requests should not address pending risks, but only scope changes.
- C. Yes, change requests can be recommended for corrective actions for contingency plans.
- D. Yes, change requests can ask for additional funds to pay for the risk impact.
Answer : C
Henry is the project manager of the QBG Project for his company. This project has a budget of $4,576,900 and is expected to last 18 months to complete. The
CIO, a stakeholder in the project, has introduced a scope change request for additional deliverables as part of the project work. What component of the change control system would review the proposed changes' impact on the features and functions of the project's product?
- A. Scope change control system
- B. Cost change control system
- C. Configuration management system
- D. Integrated change control
Answer : C
You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organization. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?
- A. Stakeholder power/interest grid
- B. Influence/impact grid
- C. Salience model
- D. Stakeholder register
Answer : A
You work as the project manager for BlueWell Inc. You are monitoring the project performance. You want to make a decision to change the project plan to eliminate a risk in order to protect the project objectives. Which of the following strategies will you use to tackle the risk?
- A. Risk mitigation
- B. Risk avoidance
- C. Risk acceptance
- D. Risk transference
Answer : B
Lisa is the project manager of the FKN project for her organization. She is working with Sam, the CIO, to discuss a discount the vendor has offered the project based on the amount of materials that is ordered. Lisa and Sam review the offer and agree that while their project may qualify for the discounted materials the savings is nominal and they would not necessarily pursue the savings. Lisa documents this positive risk response in the risk register. What risk response is this?
- A. Enhance
- B. Transference
- C. Share
- D. Acceptance
Answer : D
You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?
- A. The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
- B. The project's cost management plan provides direction on how costs may be changed due to identified risks.
- C. The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
- D. The project's cost management plan is not an input to the quantitative risk analysis process.
Answer : C
You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?
- A. All risks must have a valid, documented risk response.
- B. These risks can be accepted.
- C. These risks can be added to a low priority risk watch list.
- D. These risks can be dismissed.
Answer : C
You are the project manager of a new project in your organization. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?
- A. Cause-and-effect diagrams
- B. Project network diagrams
- C. Delphi Technique
- D. Decision tree analysis
Answer : D
You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?
- A. Some responses are designed for use only if certain events occur.
- B. Some responses have a cost and a time factor to consider for each risk event.
- C. Some responses must counteract pending risk events.
- D. Quantified risks should always have contingency responses.
Answer : A
Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?
- A. Project risk assessment officer
- B. Project management office
- C. Project sponsor
- D. Project manager
Answer : D
You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?
- A. Create work breakdown structure process
- B. Plan risk management process
- C. Risk identification process
- D. Define scope process
Answer : B
You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure:
If Risk D happens in this project, how much will be left in the contingency reserve?
- A. $440,000
- B. $233,500
- C. $258,500
- D. $243,500
Answer : B
The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?
- A. Trends in qualitative risk analysis
- B. Risk probability-impact matrix
- C. Watchlist of low-priority risks
- D. Risks grouped by categories
Answer : B
Nancy is the project manager of the NHH project. She and the project team have identified a significant risk in the project during the qualitative risk analysis process. Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses. Bob disagrees and ensures Nancy that his response is most appropriate for the identified risk. Who is correct in this scenario?
- A. Bob is correct. Bob is familiar with the technology and the risk event so his response should be implemented.
- B. Bob is correct. Not all risk events have to pass the quantitative risk analysis process to develop effective risk responses.
- C. Nancy is correct. All risks of significant probability and impact should pass the quantitative risk analysis process before risk responses are created.
- D. Nancy is correct. Because Nancy is the project manager she can determine the correct procedures for risk analysis and risk responses. In addition, she has noted the risk response that Bob recommends.
Answer : B