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NEW QUESTION 152
You work as a project manager for BlueWell Inc. Your project is running late and you must respond to the risk. Which risk response can you choose that will also cause you to update the human resource management plan?
- A. Fast tracking the project
- B. Transference
- C. Crashing the project
- D. Teaming agreements
Answer: C
NEW QUESTION 153
In what way can the risk manager determine when poor risk planning techniques are influencing the scope, schedule, quality, and/or budget of the project?
- A. Document and periodically update project risk information
- B. Monitor project metrics and performance information.
- C. Evaluate the results of the Monte Carlo analysis.
- D. Update the risk management plan.
Answer: B
NEW QUESTION 154
You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?
- A. In any process group where the risk event resides
- B. Executing
- C. Monitoring and Controlling
- D. Planning
Answer: D
NEW QUESTION 155
David is the project manager of HGF project for his company. David, the project team, and several key stakeholders have completed risk identification and are ready to move into qualitative risk analysis. Tracy, a project team member, does not understand why they need to complete qualitative risk analysis. Which one of the following is the best explanation for completing qualitative risk analysis?
- A. It is a rapid and cost-effective means of establishing priorities for the plan risk responses and lays the foundation for quantitative analysis.
- B. It is a cost-effective means of establishing probability and impact for the project risks.
- C. All risks must pass through quantitative risk analysis before qualitative risk analysis.
- D. Qualitative risk analysis helps segment the project risks, create a risk breakdown structure, and create fast and accurate risk responses.
Answer: A
NEW QUESTION 156
Harry works as a project manager for BlueWell Inc. He is determining how to conduct the risk management activities for a project. According to the PMBOK, there are six inputs to the plan risk management process.
Which one of the following is NOT an input to this process?
- A. Cost management plan
- B. Project scope statement
- C. Schedule management plan
- D. Risk management plan
Answer: D
NEW QUESTION 157
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 158
Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?
- A. Project risk can happen at any moment.
- B. Project risk happens throughout the project execution.
- C. Project risk is always in the future.
- D. Project risk is uncertain, so no one can predict when the event will happen.
Answer: C
NEW QUESTION 159
Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?
- A. Scope Change control
- B. Monitor and Control risk
- C. Configuration Management
- D. Integrated Change control
Answer: B
NEW QUESTION 160
Ben is the project manager of the CMH Project for his organization. He has identified a risk that has a low probability of happening, but the impact of the risk event could save the project and the organization with a significant amount of capital. Ben assigns Laura to the risk event and instructs her to research the time, cost, and method to improve the probability of the positive risk event. Ben then communicates the risk event and response to management. What risk response has been used here?
- A. Transference
- B. Enhance
- C. Sharing
- D. Exploit
Answer: B
NEW QUESTION 161
Which positive risk response best describes a teaming agreement?
- A. Venture
- B. Share
- C. Enhance
- D. Exploit
Answer: B
NEW QUESTION 162 
The project manager has asked for the P50 estimate for the project schedule. What is the P50 estimate?
- A. 75 days
- B. 72.5 days
- C. 73.5 days
- D. 73 days
Answer: D
NEW QUESTION 163
In addition to monitoring and controlling the project risks for their status and information the risk monitoring and controlling process accomplishes four key things for a project. Which one of the following is NOT a determination that is made by the risk monitoring and controlling process?
- A. Determines if the risk contingency reserves should be modified to be in alignment with the current risk assessment
- B. Determines if the risk management policies and procedures are being followed
- C. Determines if the project constraints are still valid
- D. Determines if the project assumptions are still valid
Answer: C
NEW QUESTION 164
Kelly is the project manager of the NNQ Project for her company. This project will last for one year and has a budget of $350,000. Kelly is working with her project team and subject matter experts to begin the risk response planning process. When the project manager begins the plan risk response process, what two inputs will she need?
- A. Risk register and the results of risk analysis
- B. Risk register and the risk response plan
- C. Risk register and the risk management plan
- D. Risk register and power to assign risk responses
Answer: C
NEW QUESTION 165
The project manager needs to create a risk management plan for a high risk project, but the company's senior management does not see value in spending time documenting major risks instead of leading the project.
What is the most appropriate action for the project manager to take first?
- A. Document all identified risks.
- B. Develop a risk management plan and present it to the sponsor.
- C. Develop a risk register and present it to the senior management
- D. Hire a risk consultant to identity the major risks.
Answer: B
NEW QUESTION 166
You are the project manager of a large, high-profile project in your organization. You have realized that politics within your company may affect the true identification of risk events within the project. You decide that you'd like to use a method to identify risk events through an anonymous process. Which one of the following risk events will allow you to collect and distribute risk information without the stakeholders knowing what other stakeholders are communicating about the project risk events?
- A. Checklist analysis
- B. Delphi Technique
- C. Monte Carlo Technique
- D. Surveys
Answer: B
NEW QUESTION 167
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