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?
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.
A CEO wants to reduce costs in the time spent for risk management activities. What step did the risk manager fall to perform?
A. Assigning the CEO as a risk owner
B. Preventing all issues from occurring
C. Properly communicating the risk management actives and their outcomes
D. Explaining the purpose of the management reserve
The project managers implementing a computer interface to facilitate communications between to ticketing systems for two major companies in the IT industry. During the Plan Risk Response process, the project team agrees on the contingency plan that should mitigate the negative impact of the risk. However, during the project execution, one of the subject matter experts identifies a residual risk that was not taken into consideration during the risk response planning session, but could potentially affect the project schedule baseline.
What should the risk manager do to handle this residual risk?
A. Increase the management reserve.
B. Analyze this risk and update the risk register.
C. Accept the risk, since it is minor.
D. Reject the risk, since the risk plan will take care of all the risks.
Which of the following best describes the strength of the probability and impact matrix for qualitative risk analysis?
A. It is well-suited to a decision tree analysis.
B. It assists in handling other factors such as urgency and manageability that may partly determine the risk's ranking.
C. It provides expert facilitators for the quantitative risk analysis.
D. It reflects the organization's level of risk appetite.
What steps would be used during the qualitative risk analysis process to provide input to the risk register?
A. Select risks characteristic, collect and analyze data, prioritize risks, categorize risks causes, document results
B. Interviews, expert opinions, sponsor inputs, risk manager review, prioritize risks, and document results
C. Interviews, export opinions, risk manager review, prioritize risks, and document results
D. Select risks characteristics, collect and analyze data, prioritize risks, discuss action plans for major risks, document results
The sponsor hires a program manager as a consultant to evaluate a change program currently underway. The leading program manager tells the consultant that the program, currently in the execution phase, is in good standing, and detailed plans are available for review. The consultant reviews the project documentation and talks to the stakeholders, finding the opposite to be true. The project must be in recovery mode to get it back on track, and its still in the planning phase. There is low morale among the team members, the meetings are poorly managed, the detailed schedule has gaps, the risk register has not been updated for months, communications and detailed resource plans do not exist, and contract negotiations with a key vendor are behind schedule for critical deliverables.
What is the first course of action the program manager should take based on the current state?
A. Cancel or put the project on hold, and hire a new program manager.
B. Assess the risk management plan and adjust it accordingly to accommodate the gaps.
C. Continue the project and create the project documentation that is missing.
D. Meet with the project sponsor to report current findings, review current risk management plan and develop a corrective course of action.
A project manager is creating a risk management plan, but participants in a group meeting are hesitant to express their concerns. What will encourage participants to offer their opinions?
A. Brainstorming
B. Monte Carlo simulation
C. Interviews
D. Nominal group technique
In the country where a project is being executed, customs procedures are complex and change frequently. During the risk identification process, the project team identifies a risk related to delays in customs on substantial equipment that will likely occur. Equipment delays on this project could lead to project cancellation.
Why should a mitigation plan be developed for this risk?
A. This is a financial risk.
B. This task is on the critical path.
C. A response plan should be developed for all risks.
D. This is a high-priority risk.
The project manager schedules a third workshop to facilitate the qualitative risk analysis. One team member complains that they should not have iterative meetings, but rather, should complete this at the beginning of the project.
Which of the following should the project manager do?
A. Continue with the workshop, but discipline the team member for undermining the authority of the project manager.
B. Agree with the team member, as qualitative analysis should only be performed during the initial stages of a project.
C. Proceed with the meeting, but remove the team member from the invitees' list.
D. Explain that itis good practice to perform qualitative analysis throughout the life of the project.
Which of the following templates may be included in the risk management plan?
A. Formal structure for a risk statement
B. Work performance report
C. Structure for a SWOT diagram
D. Formal brainstorming list
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