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Q89. Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. Which of the following inputs will be needed for the quantitative risk analysis process in her project? Each correct answer represents a complete solution. Choose all that apply.
A. Risk management plan
B. Project scope statement
C. Risk register
D. Cost management plan
Answer: A,C,D
139. You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?
A. Risk planning
B. Risk identification
C. Risk monitoring and controlling
D. Risk analysis
Answer: C
Q90. Virginia is the project manager for her organization. She has hired a subject matter expert to interview the project stakeholders on certain identified risks within the project. The subject matter expert will assess the risk event with what specific goal in mind?
A. To determine the level of probability and impact for each risk event
B. To determine the bias of the risk event based on each person interviewed
C. To determine the probability and cost of the risk event
D. To determine the validity of each risk event
Answer: A
Q91. Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project stakeholders have completed a round of qualitative risk analysis. He needs to update the risk register with his findings so that he can communicate the risk results to the project stakeholders - including management. Mark will need to update all of the following information except for which one?
A. Prioritized list of quantified risks
B. Watchlist of low-priority risks
C. Trends in qualitative risk analysis
D. Risks grouped by categories
Answer: A
180. The risk transference is referred to the transfer of risks to a third party, usually for a fee, it creates a contractual-relationship for the third party to manage the risk on behalf of the performing organization. Which one of the following is NOT an example of the transference risk response?
A. Use of insurance
B. Warranties
C. Life cycle costing
D. Performance bonds
Answer: C
Q92. You are the project manager of a large construction project. Part of the project involves the wiring of the electricity in the building your project is creating. You and the project team determine the electrical work is too dangerous to perform yourself so you hire an electrician to perform the work for the project. This is an example of what type of risk response?
A. Acceptance
B. Mitigation
C. Transference
D. Avoidance
Answer: C
Q93. Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?
A. The project scope statement must be understood to see the project requirements and the inherent risks of the project.
B. The project scope statement will reveal the type of project as either a recurrent or first-of-its- kind project.
C. The project scope identifies the risks associated with project constraints.
D. The project scope statement must be reviewed to understand the quality requirements and the risks associated with the demand for quality.
Answer: B
Q94. Lisa is the project manager of the SQL project for her company. She has completed the risk response planning with her project team and is now ready to update the risk register to reflect the risk response. Which of the following statements best describes the level of detail Lisa should include with the risk responses she has created?
A. The level of detail is set by historical information.
B. The level of detail should correspond with the priority ranking.
C. The level of detail must define exactly the risk response for each identified risk.
D. The level of detail is set of project risk governance.
Answer: B
Q95. You are the project manager of the NHH project for your company. You and the project team have completed the quantitative risk analysis for your project. During this process you create a contingency reserve based on the risk probability-impact matrix as seen in the figure below.
Based on the information in the figure above, what amount would you need to include in your risk contingency fund?
A. -$465,000
B. $171,500
C. -$258,500
D. $258,500
Answer: D
Q96. 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