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Q121. Your project is an agricultural-based project that deals with plant irrigation systems. You have discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?
A. Enhancing
B. Opportunistic
C. Positive
D. Exploiting
Answer: D
Q122. Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending. What is the purpose of reviewing the contingency reserve?
A. It helps to evaluate if the remaining reserve is adequate for the risk exposure.
B. It helps to determine how much more funds will need to be invested in the project.
C. It helps to evaluate secondary and residual risks related to the risk responses and their costs.
D. It helps to determine the probability and impact of project risks.
Answer: A
Q123. You are the project manager of your organization. Your organization will receive a bonus if the project finishes by December 20. Management has communicated this bonus to you and your project team and has asked you to evaluate the project to see if it is possible to realize the reward. The bonus offered to your organization is $750,000. You have examined the project and believe that you can crash the project for an additional $275,000 and reach the December 20 date. Management is thrilled with your assessment and they approve the crash fee. What risk response is this?
A. Crashing can be a type of the enhancing risk response.
B. Crashing can be considered transference because of the $275,000 is actually paid from the bonus, which is paid by the project customer.
C. Crashing can be a type of the exploit risk response.
D. Crashing is the addition of labor, not a risk response.
Answer: A
Q124. During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?
A. Cost of the project
B. Risk rating
C. Warning signs
D. Symptoms
Answer: A
Q125. Yolanda is the project manager of a high-profile project for her organization. This project has 124 stakeholders from across the organization and many of the stakeholders have high demands and expectations for the project. Yolanda will need several pieces of project information as she begins to communicate and manage the stakeholder expectations. Which of the following inputs of the manage stakeholder expectations process directly addresses the risks that could affect the project and which must be communicated to the project stakeholders?
A. Change log
B. Low-level riskswatchlist
C. Issue log
D. Stakeholder register
Answer: A
Q126. You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?
A. Cause and effect diagrams
B. System or process flow charts
C. Predecessor and successor diagramming
D. Influence diagrams
Answer: A
Q127. Henry is the project manager of the QBG Project for his company. This project has a budget of $4,576,900 and is expected to last 18 months to complete. The CIO, a stakeholder in the project, has introduced a scope change request for additional deliverables as part of the project work. What component of the change control system would review the proposed changes' impact on the features and functions of the project's product?
A. Scope change control system
B. Cost change control system
C. Configuration management system
D. Integrated change control
Answer: C
Q128. You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?
A. IRGC addresses questions such as the understanding of the secondary impacts of a risk.
B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks.
C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks.
D. IRGC is both a concept and a tool.
Answer: B