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Q145. Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?
A. Risk identification
B. Perform qualitative analysis
C. Perform quantitative analysis
D. Risk Breakdown Structure creation
Answer: B
Q146. There are five inputs to the quantitative risk analysis process. Which one of the following is NOT an input to the perform quantitative risk analysis process?
A. Risk register
B. Risk management plan
C. Cost management plan
D. Enterprise environmental factors
Answer: D
Q147. 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?
A. Mitigation-ready project management
B. Risk utility function
C. Risk avoidance
D. Risk-reward mentality
Answer: B
Q148. 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
Q149. You are the project manager for your organization. You have determined that an activity is too dangerous to complete internally so you hire licensed contractor to complete the work. The contractor, however, may not complete the assigned work on time which could cause delays in subsequent work beginning. This is an example of what type of risk event?
A. Internal
B. Secondary risk
C. Pure risk
D. Transference
Answer: B
Q150. Consider the risk probability-impact matrix in the figure given below: If Risk B happens in this project, how much will be left in the contingency reserve?
A. $193,500
B. -$334,500
C. It depends on the total budget of the project.
D. $148,300
Answer: A
Q151. Fill in the blank with an appropriate phrase.
is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.
A. Sensitivity analysis
Answer: A
Q152. Rachel is the project manager of the KJH Project for her company. She needs a method to create a quick and simple approach to risk identification to communicate the project risk with the stakeholders. Which one of the following approaches to risk identification should Rachel choose to provide a quick and simple listing of the project risks?
A. Delphi Technique
B. Checklist analysis
C. Assumptions analysis
D. Brainstorming
Answer: B