Question 1

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."

Options :

A : Risk management plan

B : Project charter

C : Risk register

D : Quality management plan

Answer: C

Question 2

When analyzing the reward system in a company, there is evidence that “fire-fighter behavior” is the highest rewarded behavior. It suggests that people are dealing with major problems primarily in an emergency mode, and deploying quickly. Secondly, those who work efficiently are getting the most attention and recognition for their efforts. What impact does this observation potentially have on the risk management process?

Options :

A : Nothing, since the reward system does not have any impact on the risk management process.

B : It means that this company-s culture does not reward all people, and it gives little attention to proactive behavior such as risk management.

C : It does not matter as each project has its own rewards system with no relationship to the company’s rewards.

D : This is a positive situation for risk management, since it encourages quick deployment of solutions and workarounds when necessary.

Answer: B

Question 3

While preparing for a project review meeting with leadership, the project team analyzes and checks its scope activities and discovers missing requirements. The project risk manager decides to hire a subcontractor to fulfil these newly discovered requirements. What risk strategy did the project risk manager use?

Options :

A : Avoid

B : Transfer

C : Accept

D : Mitigate

Answer: B

Question 4

A project team member identifies, but does not document, a risk early in the project, because it is considered to

be trivial. This risk occurs later and negatively impacts the project.

What could the project manager do to avoid this situation?

Options :

A : Conduct team meetings early in the project to ensure team member are familiar with risk identification requirements.

B : Communicate the punishment and rewards policy to the project team during the project kick-off meeting.

C : Provide project team members with access to simulation tools and decision tree diagrams.

D : Provide team members with a risk management prompt list early in the project to ensure risks are not missed.

Answer: A

Question 5

Which of the following will ultimately determine risk thresholds?

Options :

A : The absolute value of the consequence

B : The risk appetite of the key stakeholders

C : The practice standard for risk management

D : The project manager

Answer: B

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