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Q105. You are the program manager for your organization. Management is considering a new program but they are worried about the program risks that may affect the program success. You know that there are three positive risks responses and three negative risk responses that each risk can have. Management asks you which risk response would be most appropriate for a large risk event if they wanted to hire a third-party to own the risk event for the program. What risk event is most appropriate?
A. Avoidance
B. Sharing
C. Transference
D. Mitigation
Answer: C
Q106. Gary is the project manager of the MMQ project for his company. He is working with his project team to plan the risk responses for his project. Sarah, a project team member, does not understand the process that Gary is using to plan the risk responses. Which approach is the preferred method to address project risks and the risk responses?
A. Risks in the project should be addressed by their probability for creating risk responses.
B. Risks in the project should be addressed by the organization's risk tolerance for creating risk responses.
C. Risks in the project should be addressed by their impact for creating risk responses.
D. Risks in the project should be addressed by their priority for creating risk responses.
Answer: D
Q107. You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?
A. Mitigation management plan
B. Mitigation plan
C. Fallback plan
D. Risk response plan
Answer: C
Q108. Harry works as a project manager for the NHQ Project. He is performing quantitative risk analysis for his project. One of the project risks has a 40 percent probability of happening, and it will cost the project $65,000 if the risk happens. What is the expected monetary value of this risk event?
A. Negative $26,000
B. Negative $67,000
C. Zero - the risk event has not yet occurred
D. $27,000
Answer: A
Q109. You are project manager for ABD project. You, with your team, are working on the following activities:
Probabilistic analysis of a project.
Probability of achieving cost and time objectives.
Trends in Qualitative Risk Analysis results.
On which of the following processes are you working on?
A. Plan Risk Management
B. Perform Quantitative Risk Analysis
C. Perform Qualitative Risk Analysis
D. Identify Risks
Answer: B
Q110. Sam is the project manager of a construction project in south Florida. This area of the United States is prone to hurricanes during certain parts of the year. As part of the project plan Sam and the project team acknowledge the possibility of hurricanes and the damage the hurricane could have on the project's deliverables, the schedule of the project, and the overall cost of the project. Once Sam and the project stakeholders acknowledge the risk of the hurricane they go on planning the project as if the risk is not likely to happen. What type of risk response is Sam using?
A. Active acceptance
B. Passive acceptance
C. Avoidance
D. Mitigation
Answer: B
Q111. You work as a project manager for TechSoft Inc. You, the project team, and the key project stakeholders have completed a round of quantitative risk analysis. You now need to update the risk register with your findings so that you can communicate the risk results to the project stakeholders - including management. You will need to update all of the following information except for which one?
A. Probabilistic analysis of the project
B. Probability of achieving cost and time objectives
C. Risk distributions within the project schedule
D. Trends in quantitative risk analysis
Answer: C
Q112. Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?
A. Risk management plan
B. Project sponsor
C. Risk response plan
D. Look-up table
Answer: D