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A project team in a multinational organization is working on a risk management plan for a multimillion-dollar project. This project involves three global regions with a wide range of critical stakeholders with varying degrees of risk appetite.

What should the risk manager advise the project team to do?

A.

Align the project risk thresholds with the risk appetite of a critical region.

B.

Align the project risk thresholds with the organizational risk appetite.

C.

Concentrate on the risk appetites of the influential stakeholders.

D.

Concentrate on the risk appetites of the vulnerable stakeholders. 

Members of a project team are not taking their risk management responsibilities seriously. They do not consider risk management as primary to the project’s success and do not believe that the benefits are significant.

What should the risk manager do?

A.

Schedule a meeting to review and develop realistic risk thresholds with the project team.

B.

Motivate and influence the project team with risk engagement activities like workshops.

C.

Ensure that risk management responsibilities are clearly identified in the risk management plan.

D.

Ensure that the risk language used by all stakeholders is consistent with the risk management plan.

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options.

What should the risk manager do?

A.

Perform a sensitivity analysis.

B.

Perform a qualitative risk analysis.

C.

Perform a constraint analysis.

D.

Perform a root-cause analysis. 

During the design phase the project team is exploring various architecture options. After reviewing the results of design pilot, two conflicting infrastructure pieces were identified.

What action should the project manager take?

A.

Reassess the design for the two pieces.

B.

Escalate the situation and request approval to move forward.

C.

Confirm the results through a second pilot.

D.

Update the assumptions log and assess the risk associated with it.

A new project is about to start, and the risk manager wants to review some documents that could be relevant for risk identification. Which document will help the risk manager in this process?

A.

Detailed work breakdown structure (WBS)

B.

Lessons learned from previous projects

C.

Baselines approved by the project team

D.

Actual data from the current project

A risk manager documents the causes in the risk register and needs to ensure the risk is adequately described. What is critical for the risk manager to consider when describing the causes?

A.

Each cause has a degree of uncertainty

B.

Each cause has well defined owner

C.

The causes represent actual conditions

D.

The causes must be validated by the risk owner

A major data center initiative involves performing a sensitivity analysis to determine the center's required amount of disaster recovery. Several key stakeholders are in disagreement about which level of disaster recovery is required. The lessons learned disaster recovery plans, and the difference for this data center is its geographical location and unique climate requirements. The database includes examples from previous similar initiatives, as well as the competitor's advertised plans.

What should the risk manager do to quantify the risk?

A.

Initiate a 360-degree assessment.

B.

Consult environmental enterprise factors for benchmarks.

C.

Review organizational process assets for guidance.

D.

Consider leveraging the Delphi technique.

In a project to promote public health and mitigate health risks, the national health authorities intend to take actions to limit the risks of harmful insects by using pesticides; however, it is expected that some residents will have negative health effects due to the use of the pesticides but according to the assessment completed by the health authorities, not moving forward with this plan will have much more serious consequences on public health rather than following through with the original plan.

How should the project manager address this concern with the health authorities?

A.

Suspend the project as the secondary risk will negatively impact residents' health which is not acceptable.

B.

Consult with health experts to provide a risk trigger before using pesticides that will impact the residents.

C.

Assess and record associated secondary risks and proceed to treat them as any other risks.

D.

Proceed with the project as normal since a minor number of residents will be effected negatively.

After completing the risk register, many team members feel there is a lack of time prioritization for one of the identified risks What are the team members referring to?

A.

Risk trigger

B.

Risk escalation

C.

Risk urgency

D.

Risk time impact

The risk manager loaded the risk register, built the risks into the simul-ation software, and ran the Monte Carlo analysis. The P80 and P90 end dates are the same as the deterministic date.

What should be the risk manager's next step?

A.

Check the schedule for constraints

B.

Use the P90 date on the risk report

C.

Decrease the number of iterations

D.

Decrease the risk consequences