NEW QUESTION 1
Lamont is the project manager of a project that has recently finished the final project deliverables. The project customer has signed off on the project deliverable and Lamont has a few administrative closure activities to complete. In the project, there were several large risks that could have wrecked the project but Lamont and his project team found some creative methods to resolve the risks without affecting the project costs or project end date. What should Lamont do with the risk responses he identified during the project's monitoring and controlling process?

• A. Include the risk response in the project risk management plan.
• B. Include the responses in the project management plan.
• C. Nothin
• D. The risk responses are included in the project's risk register already.
• E. Include the risk responses in the organization's lessons learned database.

Answer: D

NEW QUESTION 2
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: ACD

NEW QUESTION 3
You are interviewing members of a project team to test their understanding of the assigned risk responses as risk owners. You and the project manager are working together to evaluate the risk responses to determine their effectiveness in the project. What project management technique are you performing with the project manager in this scenario?

• A. Risk audits
• B. Stakeholder analysis as the project team is a stakeholder
• C. Risk identification with the project team
• D. Risk analysis

Answer: A

NEW QUESTION 4
You are the project manager of the NGH project for your organization. You want to create a causeand- effect diagram to help discover the root causes of the risks within the project. Harold, the CIO, recommends that you create an Ishikawa diagram instead. What is an Ishikawa diagram?

• A. It is a graphical representation of situations showing causal influences.
• B. It is the same thing as a root cause diagram.
• C. It shows how various elements of a system interrelate.
• D. It diagrams the risks according to the work breakdown structure including resources.

Answer: B

NEW QUESTION 5
Fill in the blank with an appropriate phrase.
_____ is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.

• A. Sensitivity analysis

Answer: A

NEW QUESTION 6
You work as a project manager for BlueWell Inc. You would like to utilize sensitivity analysis in your project, but the management does not understand how this will be displayed. What type of chart is usually used with sensitivity analysis to show the relative affect of risks on the project?

• A. Ishikawa chart
• B. Force field analysis chart
• C. GERT Chart
• D. Tornado diagram

Answer: D

NEW QUESTION 7
Holly is the project manager of the NSS Project for her company. She is discussing some of the project risks and the issues that have happened in the project. Holly has faxed the status report to her project client for their review. Based on the standard communication model, which component in this scenario is the decoder?

• A. Project customer
• B. Telephone wire
• C. Holly
• D. Project customer's fax machine

Answer: D

NEW QUESTION 8
You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?

• A. Expert judgment
• B. Data gathering and representation techniques
• C. Organizational process assets
• D. Quantitative risk analysis and modeling techniques

Answer: C

NEW QUESTION 9
Examine the figure given below.
What will be the expected monetary value of Risk C?

• A. -$113,750
• B. $175,000 if the risk event actually happens
• C. -$175,000
• D. -$27,000

Answer: D

NEW QUESTION 10
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 11
Don is the project manager of the PFO project for his organization. Don is working with the project team members and two subject matter experts to assess the identified risk events in the project. Which of the following approaches is the best to assess the risk events in the project?

• A. Determination of the true cost of the risk event
• B. Probability and Impact Matrix
• C. Root cause analysis
• D. Interviews or meetings

Answer: D

NEW QUESTION 12
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 13
Amy is the project manager for her company. In her current project the organization has a
very low tolerance for risk events that will affect the project schedule. Management has asked Amy to consider the affect of all the risks on the project schedule. What approach can Amy take to create a bias against risks that will affect the schedule of the project?

• A. She can create an overall project rating scheme to reflect the bias towards risks that affect the project schedule.
• B. She can filter all risks based on their affect on schedule versus other project objectives.
• C. She can have the project team pad their time estimates to alleviate delays in the project schedule.
• D. She can shift risk-laden activities that affect the project schedule from the critical path as much as possible.

Answer: A

NEW QUESTION 14
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. Monitor and Control risk
• B. Configuration Management
• C. Integrated Change control
• D. Scope Change control

Answer: A

NEW QUESTION 15
A project team member has just identified a new project risk. The risk event is determined to have significant impact but a low probability in the project. Should the risk event happen it'll cause the project to be delayed by three weeks, which will cause new risk in the project. What should the project manager do with the risk event?

• A. Add the identified risk to a quality control management control chart.
• B. Add the identified risk to the issues log.
• C. Add the identified risk to the risk register.
• D. Add the identified risk to the low-level risk watchlist.

Answer: C

NEW QUESTION 16
Lisa is the project manager of the FKN project for her organization. She is working with Sam, the CIO, to discuss a discount the vendor has offered the project based on the amount of materials that is ordered. Lisa and Sam review the offer and agree that while their project may qualify for the discounted materials the savings is nominal and they would not necessarily pursue the savings. Lisa documents this positive risk response in the risk register. What risk response is this?

• A. Enhance
• B. Transference
• C. Share
• D. Acceptance

Answer: D

NEW QUESTION 17
John is the project manager of the NHQ Project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to make certain that he communicates about risk in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for John to communicate to the external stakeholders?

• A. Risk Response Plan
• B. Risk Management Plan
• C. Communications Management Plan
• D. Project Management Plan

Answer: C

NEW QUESTION 18
You are the project manager of the NGQQ Project for your company. To help you communicate project status to your stakeholders, you are going to create a stakeholder register. All of the following information should be included in the stakeholder register except for which one?

• A. Assessment information of the stakeholders' major requirements, expectations, and potential influence
• B. Stakeholder classification of their role in the project
• C. Identification information for each stakeholder
• D. Stakeholder management strategy

Answer: D

NEW QUESTION 19
A high-profile, high-priority project within your organization is being created. Management wants you to pay special attention to the project risks and do all that you can to ensure that all of the risks are identified early in the project. Management has to ensure that this project succeeds. Management's risk aversion in this project is associated with what term?

• A. Quantitative risk analysis
• B. Risk conscience
• C. Risk mitigation
• D. Utility function

Answer: D

NEW QUESTION 20
Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

• A. Increased understanding or quantification of the system
• B. Estimating the average outcome
• C. Model development
• D. Decision making or the development of recommendations for decision makers

Answer: ACD

NEW QUESTION 21
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