You work as the project manager for Bluewell Inc. There has been a delay in your project work that is
adversely affecting the project schedule. You decide, with your stakeholders' approval, to fast track
the project work to get the project done faster. When you fast track the project, what is likely to
increase?
A
Todd is the project manager of the EST project for his company. His organization has established
certain rules in the enterprise environmental factors which affect the approach that Todd takes in
managing his project. One of the rules requires Todd to consider the risk attitude of the stakeholders
participating in risk analysis. Why must risk attitude be considered as a part of risk analysis?
A
____ analysis is a statistical concept that calculates the average outcome when the future includes
scenarios that may or may not happen.
B
Gary is the project manager for his project. He and the project team have completed the qualitative
risk analysis process and are about to enter the quantitative risk analysis process when Mary, the
project sponsor, wants to know what quantitative risk analysis will review. Which of the following
statements best defines what quantitative risk analysis will review?
C
Ben works as a project manager for the MJH Project. In this project, Ben is preparing to identify
stakeholders so he can communicate project requirements, status, and risks. Ben has elected to use a
salience model as part of his stakeholder identification process. Which of the following activities best
describes a salience model?
D
You are the project manager for the NHH project. You are working with your project team to examine
the project from four different defined perspectives to increase the breadth of identified risks by
including internally generated risks. What risk identification approach are you using in this example?
B
Jeff works as a project manager for BlueWell Inc. He is determining which risks can affect the project.
Which of the following are the inputs to the identify risks process that Jeff will use to accomplish the
task?
Each correct answer represents a complete solution. Choose all that apply.
A, B, D
You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your
project with your project team. How many risk responses are available for a positive risk event in the
project?
B
You are the project manager of the BlueStar project in your company. Your company is structured as a
functional organization and you report to the functional manager that you are ready to move onto
the qualitative risk analysis process. What will you need as inputs for the qualitative risk analysis of
the project in this scenario?
B
Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was a
cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?
C
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