There are five inputs to the quantitative risk analysis process. Which one of the following is NOT an
input to the perform quantitative risk analysis process?
D
You are the project manager for your organization. You have determined that an activity is too
dangerous to complete internally so you hire licensed contractor to complete the work. The
contractor, however, may not complete the assigned work on time which could cause delays in
subsequent work beginning. This is an example of what type of risk event?
B
Rob is the project manager of the IDLK Project for his company. This project has a budget of
$5,600,000 and is expected to last 18 months. Rob has learned that a new law may affect how the
project is allowed to proceed - even though the organization has already invested over $750,000 in
the project. What risk response is the most appropriate for this instance?
A
Joan is a project management consultant and she has been hired by a firm to help them identify risk
events within the project. Joan would first like to examine the project documents including the plans,
assumptions lists, project files, and contracts. What key thing will help Joan to discover risks within
the review of the project documents?
B
Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified a
supplier who can create stained glass windows for 1,000 window units in the construction project.
The supplier is an artist who works by himself, but creates windows for several companies
throughout the United States. Management reviews the proposal to use this supplier and while they
agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units in
time for the project's deadline. Management asked Harry to find a supplier who can fulfill the
completion of the windows by the needed date in the schedule. What risk response has
management asked Harry to implement?
A
Harold is the project manager of a large project in his organization. He has been actively
communicating and working with the project stakeholders. One of the outputs of the manage
stakeholder expectations process can actually create new risk events for Harold's project. Which
output of the manage stakeholder expectations process can create risks?
B
You are the project manager of the HJK project for your organization. You and the project team have
created risk responses for many of the risk events in the project. A teaming agreement is an example
of what risk response?
D
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?
D
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?
C
In what portion of a project are risk and opportunities greatest and require intense planning and
anticipation of risk events?
C
Mary is the project manager of PKT project. In Mary's project there are certain enterprise
environmental factors that require Mary to use modeling and simulation techniques to predict the
likelihood of achieving cost and schedule objectives in the project. Mary is using a technique for
which the cost estimates are chosen at random for each iteration of the analysis, such as pessimistic,
most likely, and worst-case scenarios. What type of analysis is Mary using in this project?
D
The Project Risk Management knowledge area focuses on which of the following processes?
Each correct answer represents a complete solution. Choose all that apply.
A, B, D
You work as a project manager for BlueWell Inc. Your project is running late and you must respond to
the risk. Which risk response can you choose that will also cause you to update the human resource
management plan?
C
David is the project manager of HGF project for his company. David, the project team, and several
key stakeholders have completed risk identification and are ready to move into qualitative risk
analysis. Tracy, a project team member, does not understand why they need to complete qualitative
risk analysis. Which one of the following is the best explanation for completing qualitative risk
analysis ?
D
You are the project manager of the NNH Project. In this project you have created a contingency
response that the schedule performance index should be less than 0.93. The NHH Project has a
budget at completion of $945,000 and is 45 percent complete though the project should be 49
percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What
is the project's schedule performance index?
C