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NEW QUESTION 1
Frank is a project team member in your project. Frank has been adding changes to the software interface for the software that your project is creating. Because Frank has been adding these features new risks have entered into the project. You elect that these additions should be removed from the project even if it takes extra time and money to remove the features. What are these riskladen features called?
- A. Gold plating
- B. Scope creep
- C. Negative risks
- D. Corrective actions
Answer: B
NEW QUESTION 2
Marsha is the project manager of the NHQ Project. There's a risk that her project team has identified, which could cause the project to be late by more than a month. Marsha does not want this risk event to happen so she devises extra project activities to ensure that the risk event will not happen. The extra steps, however, will cost the project an additional $10,000. What type of risk response is this approach?
- A. Enhancing
- B. Exploiting
- C. Mitigation
- D. Transference
Answer: C
NEW QUESTION 3
Which of the following documents is described in the statement below? "It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
- A. Risk management plan
- B. Project charter
- C. Risk register
- D. Quality management plan
Answer: C
NEW QUESTION 4
You are the project manager of the GHY Project for your company. You have completed the risk response planning with your project team. You now need to update the WBS. Why would the project manager need to update the WBS after the risk response planning process? Choose the best answer.
- A. Because of work that was omitted during the WBS creation
- B. Because of new work generated by the risk responses
- C. Because of risk responses that are now activities
- D. Because of risks associated with work packages
Answer: B
NEW QUESTION 5
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
NEW QUESTION 6
Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?
- A. Quality and costs
- B. Cost and resource management
- C. Risk and project planning
- D. Costs and schedule
Answer: D
NEW QUESTION 7
Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?
- A. It determines which risk events have the most potential impact on the project.
- B. It uses round of anonymous surveys to predict which events are most likely to happen.
- C. It uses rounds of anonymous surveys to predict probability and impact.
- D. It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives.
Answer: A
NEW QUESTION 8
John works as a project manager for ABD project. He and his team, are working on the following activities:
Relative ranking or priority list of project risks Watchlists of low priority risk
Trends in Qualitative Risk Analysis results
On which of the following processes is John working on?
- A. Perform Qualitative Risk Analysis
- B. Plan Risk Management
- C. Plan Risk Responses
- D. Perform Quantitative Risk Analysis
Answer: A
NEW QUESTION 9
Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?
- A. Benefits
- B. Opportunities
- C. Ancillary constituent components
- D. Contingency risks
Answer: B
NEW QUESTION 10
You work as a project manager for BlueWell Inc. Your project is using a new material to construct a large warehouse in your city. This new material is cheaper than traditional building materials, but it takes some time to learn how to use the material properly. You have communicated to the project stakeholders that you will be able to save costs by using the new material, but you will need a few extra weeks to complete training to use the materials. This risk response of learning how to use the new materials can also be known as what term?
- A. Team development
- B. Benchmarking
- C. Cost of conformance to quality
- D. Cost-benefits analysis
Answer: C
NEW QUESTION 11
Shawn is the project manager of the WHT Project for his company. In this project Shawn's team reports that they have found a way to complete the project work for less cost than what was originally planned. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes to the project management plan accordingly. What type of risk response has been used in this instance?
- A. Avoidance
- B. Exploiting
- C. Accepting
- D. Enhancing
Answer: B
NEW QUESTION 12
Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he's following the best practices for risk management?
- A. Project risk management is scheduled for every month in the 18-month project.
- B. Project risk management has been concluded with the project planning.
- C. At every status meeting the project team project risk management is an agenda item.
- D. Project risk management happens at every milestone.
Answer: C
NEW QUESTION 13
Kelly is the project manager of the BHH project for her organization. She is completing the risk identification process for this portion of her project. Which one of the following is the only thing that the risk identification process will create for Kelly?
- A. Risk register
- B. Risk register updates
- C. Change requests
- D. Project document updates
Answer: A
NEW QUESTION 14
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
NEW QUESTION 15
Eric is the project manager of the MTC project for his company. In this project a vendor has offered Eric a sizeable discount on all hardware if his order total for the project is more than
$125,000. Right now, Eric is likely to spend $118,000 with vendor. If Eric spends $7,000 his cost savings for the project will be $12,500, but he cannot purchase hardware if he cannot implement the hardware immediately due to organizational policies. Eric consults with Amy and Allen, other project managers in the organization, and asks if she needs any hardware for their projects. Both Amy and Allen need hardware and they agree to purchase the hardware through Eric's relationship with the vendor. What positive risk response has happened in this instance?
- A. Sharing
- B. Exploiting
- C. Transference
- D. Enhancing
Answer: A
NEW QUESTION 16
You are the project manager of the GGG project. You have completed the risk identification process for the initial phases of your project. As you begin to document the risk events in the risk register what additional information can you associate with the identified risk events?
- A. Risk potential responses
- B. Risk schedule
- C. Risk owner
- D. Risk cost
Answer: A
NEW QUESTION 17
Jenny is the project manager of the NHJ Project for her company. She has identified
several positive risk events within the project and she thinks these events can save the project time and money. You, a new team member wants to know that how many risk responses are available for a positive risk event. What will Jenny reply to you?
- A. Four
- B. Three
- C. Seven
- D. Acceptance is the only risk response for positive risk events.
Answer: A
NEW QUESTION 18
You are the project manager of the CUL project in your organization. You and the project team are assessing the risk events and creating a probability and impact matrix for the identified risks. Which one of the following statements best describes the requirements for the data type used in qualitative risk analysis?
- A. A qualitative risk analysis requires fast and simple data to complete the analysis.
- B. A qualitative risk analysis requires accurate and unbiased data if it is to be credible.
- C. A qualitative risk analysis encourages biased data to reveal risk tolerances.
- D. A qualitative risk analysis required unbiased stakeholders with biased risk tolerances.
Answer: B
NEW QUESTION 19
There are seven risks responses that a project manager can choose from. Which risk response is appropriate for both positive and negative risk events?
- A. Acceptance
- B. Sharing
- C. Transference
- D. Mitigation
Answer: A
NEW QUESTION 20
Mike is the project manager of the NNP Project for his organization. He is working with his project team to plan the risk responses for the NNP Project. Mike would like the project team to work together on establishing risk thresholds in the project. What is the purpose of a risk threshold?
- A. It helps to identify those risks for which specific responses are needed.
- B. It is a limit of the funds that can be assigned to risk events.
- C. It is a warning sign that a risk event is going to happen.
- D. It is a study of the organization's risk tolerance.
Answer: A
NEW QUESTION 21
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