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Q97. You work as a project manager for BlueWell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decided, with your stakeholders' approval, to fast track the project work to get the project done faster. When you fast track the project which of the following are likely to increase?
A. Costs
B. Quality control concerns
C. Human resource needs
D. Risks
Answer: D
Q98. analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
A. Expert judgment
B. Expected monetary value
C. Sensitivity
D. Modeling and simulation
Answer: B
272. Todd is the project manager of the EST project for his company. His organization has established certain rules in the enterprise environmental factors which affect the approach that Todd takes in managing his project. One of the rules requires Todd to consider the risk attitude of the stakeholders participating in risk analysis. Why must risk attitude be considered as a part of risk analysis?
A. Risk attitude can affect the measurement of probability and impact.
B. Risk attitude can establish a stakeholder's influence over project decisions.
C. Risk attitude identifies stakeholders that are hygiene seekers or motivation seekers.
D. Risk attitude establishes stakeholders as positive or negative stakeholders.
Answer: A
Q99. Holly is the project manager of the NHQ project for her company. Her project sponsor, Tracy, has requested that Thomas, the department manager, from the Risk Management Department, will work with Holly to determine the effectiveness of the risk responses. Tracy and Thomas are concerned that some of the risks within Holly's project may not be addressed to depth they would like. In this scenario, who is responsible for ensuring that risk audits are performed at an appropriate frequency throughout the project?
A. Thomas
B. Tracy
C. The project team
D. Holly
Answer: D
128. You work as a project manager for SoftTech Inc. You are working with the project stakeholders to begin the qualitative risk analysis process. Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution. Choose all that apply.
A. Organizational process assets
B. Cost management plan
C. Project scope statement
D. Risk register
Answer: A,C,D
Q100. You are the project manager of the NHQ project for your company. You are working with your project team to complete a risk audit. A recent issue that your project team responded to, and management approved, was to increase the project schedule because there was risk surrounding the installation time of a new material. Your logic was that with the expanded schedule there would be time to complete the installation without affecting downstream project activities. What type of risk response is being audited in this scenario?
A. Parkinson's Law
B. Mitigation
C. Avoidance
D. Lag Time
Answer: C
Q101. You are the project manager of the NHK Project. Management wants to know how often your risk identification process will occur during the project. Considering that your project is scheduled to last one year and involvs five distinct phases, how often should risk identification take place?
A. Monthly
B. Once per project life cycle phase
C. Quarterly
D. Vary depending on the situations within the project
Answer: D
Q102. In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?
A. Closing B. Planning C. Initiating D. Executing
Answer: C
255. Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?
A. It helps the project team realize the areas of the project most laden with risks.
B. It saves time by collecting the related resources, such as project team members, to analyze the risk events.
C. It can lead to developing effective risk responses.
D. It can lead to the creation of risk categories unique to each project.
Answer: C
Q103. Holly is the project manager of the GHH Project. During risk identification and the subsequent risk analysis process she has identified a risk with a high probability and high impact for her project. She and the stakeholder agree that the project management plan should be changed to eliminate the risk threat entirely. What risk response has Holly used in this instance?
A. This is the risk mitigation response.
B. This is the avoidance risk response.
C. This is the transference risk response.
D. This is a scope change and not a risk response.
Answer: B
Q104. You work as a project manager for BlueWell Inc. You are working with your team members on the risk responses in the project. Which risk response will likely cause a project to use the procurement processes?
A. Exploiting
B. Mitigation
C. Sharing
D. Acceptance
Answer: C