Which of the following are examples of relevant data gathering tools?
A. Risk response plan and interviews
B. Questionnaires and historical data
C. Work breakdown structure an historical data
D. Work breakdown structure and interviews
The project manager receives an updated project schedule from a sub team detailing the deliverables, dates, and durations for a critical milestone on the development and testing for offshore activities. This report is received one hour before a meeting with the chief executive officer (CEO) to present an updated master schedule of the critical path. The CEO has been promised a discussion on the project schedule several times. However, based on the recent update from the offshore team, the project manager realizes this new schedule is not realistic. There are new risks associated with it and it is not well thought out. Some key stakeholders want to present this revised plan to the CEO. This meeting has been postponed twice already.
Which action should the project manager take before meeting with the CEO?
A. Talk to the stakeholders before the meeting to discuss the options and ask their opinion.
B. Present the revised master schedule to the CEO with the caveat that its being updated as new information is received, and these are the current dates at this point.
C. Request the meeting be re-scheduled before presenting the master schedule to the CEO, stating that new major risks were identified and need to be assessed thoroughly.
D. Present the revised schedule to the CEO and only answer questions about validity, if asked.
As part of identifying the risk appetite of project stakeholders, the project manager must first identify the stakeholders. Which of the following inputs are used to identify project stakeholders?
A. Project charter, management reserve, enterprise environmental factors, and organizational process assets
B. Project management plan, human resource plan, enterprise environmental factors, and organizational process assets
C. Project charter, bid documents, enterprise environmental factors, and organizational process assets
D. Project charter, communications management plan, enterprise environmental factors, and organizational process assets
A project manager is leading a project review meeting with the risk manager and the other project stakeholders. Which of the following are typical risk-related agenda items for a project review meeting?
A. Enterprise environmental factors and the risk register
B. Risks closed in the last period and the risk appetite of the organization
C. Organizational process assets and the risk register
D. Risks closed in the last period and the trigger conditions that have occurred
Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?
A. Government regulations, industry best practice templates, organizational standard processes, and competitor landscape
B. Government regulations, industry standards, conditions of the marketplace, and competitor landscape
C. Government regulations, risk categories, organizational standard processes, and competitor landscape
D. Government regulations, human resource policies and procedures, organizational standard processes, and competitor landscape
A pharmaceutical company undertakes a new, year-long research and development (RandD) project. The company pursues high margins on investments and an aggressive growth strategy. They maintain a central program management office (PMO) to assist with new projects and record data on past project performance. The company leadership regularly makes decisions regarding the full suite of company projects and requires comparative data and reports. Project leadership is well-versed in risk management and the PMO requires full documentation of project management artifacts.
Based on the characteristics of this new project, which of the following best describes the risk strategy for the project?
A. Low stakeholder risk appetite, leverage historical project planning data, develop standard metrics and reports, and develop a formal risk management plan.
B. High stakeholder risk appetite; leverage historical project planning data, develop standard metrics and reports, develop a formal risk management plan.
C. High stakeholder risk appetite; leverage historical project planning data, utilize informal metrics and reports, develop risk management training.
D. Low stakeholder risk appetite; collect new project data, create custom metrics and reports, and develop a formal risk management plan.
Most risks are assessed for probability and impact. Which of the following are other factors that should be considered?
A. Urgency and complexity
B. Manageability and cost
C. Urgency and manageability D. Manageability and complexity
A cost analyst team member asks the project manager for the latest risk data for inclusion with the cost estimates for the project. Which tool should the cost analyst team member use to identify the probability of achieving specific cost targets?
A. Monte Carlo analysis
B. Decision tree analysis
C. Analogous estimating
D. Brainstorming
The project manager wants risk metrics established for the new project. Which of the following metrics listed is best suited for this purpose?
A. Effectiveness of the work breakdown structure
B. Number of approved project change requests
C. Number of detects identified
D. Effectiveness of response plans
Which of the following would a proactive risk manager do during the Monitoring and Controlling Process?
A. Develop risk responses, create risk management plan, and stay alert for risk events.
B. Update the lessons learned documents, develop risk responses, and create the risk management plan.
C. Review identified risks, stay alert for risk events, and remind team members to keep the risk manager informed about risk triggers.
D. Review lessons learned document to identify risks, quantity risks, and lower impact ratings.
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