Q69. Rex is the project manager of the BDF Project. This project will last for two years and has a budget of
$2,345,000. Management has instructed Rex that the project must not go over budget as funds are very tight in the organization. During the project planning Rex and the project team discover a positive risk event to save $75,000. Rex wants to make certain that this risk event happens so which risk response method is most appropriate?

Q70. After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in the response plan to help mitigate the risks?

Q71. You are the project manager of the GHY Project for your company. You need to complete a project management process that will be on the lookout for new risks, changing risks, and risks that are now outdated. Which project management process is responsible for these actions?

Q72. A risk manager wants to determine which risks are going to have the highest impact on a project. Which of the following techniques should the risk manager use?

Q73. Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy’s organization will receive a bonus of
$80,000 per day that the project is completed early up to $800,000. Tracy realizes that there are several opportunities within the project to save on time by crashing the project work. Crashing the project is what type of risk response?

Q74. The risk manager conducted an updated Monte Carlo simul-ation for the project at the end of a phase. The simul-ation reveals a key activity is now on the critical path.
What recommendation should the risk manager make to the project manager?

Q75. Bill is the project manager for a project that will last six months and has a budget of $580,000. In this project a high-risk has been identified with the new materials the project will be using. Bill would like to assign one person, Beth, to be responsible to monitor this risk. Bill assigns Beth the authority to respond to the risk event if it appears in the risk events that is likely to happen. In addition, Bill hires a consultant to work with Beth on this area of the project. In this instance, who is the risk response owner?

Q76. Ned is the project manager of the HNN project for your company. Ned has asked you to help him complete some probability distributions for his project. What portion of the project will you most likely use for probability distributions?

Q77. The project manager performed’ a variance analysis on the project during the execution phase. The variances were shown as increasing What does this result imply?

Q78. The Project Risk Management knowledge area focuses on which of the following processes? Each correct answer represents a complete solution. Choose all that apply.

Q79. The stakeholder is unwilling to make decisions that would result in negative consequences to the project.
Which of the following describes the stakeholders attitude regarding project risks?

Q80. Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending. What is the purpose of reviewing the contingency reserve?

Q81. You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

Q82. A newly assigned project manager is reviewing the project documents with stakeholders to identify opportunities that will fast track the project and realize the financial benefits of early completion. What document should be updated at the end of the review?

Q83. You are interviewing members of a project team to test their understanding of the assigned risk responses as risk owners. You and the project manager are working together to evaluate the risk responses to determine their effectiveness in the project. What project management technique are you performing with the project manager in this scenario?

Q84. During the monthly executive review meeting, the project sponsor would like to understand how the project team has planned to manage risks that were identified in the last meeting. What should the project manager do?

Q85. During a weekly project review meeting, a stakeholder identifies some new risks. When creating risk responses for these newly identified risks, what should the project team do to discover trends and more efficiently manage the responses?

Q86. Wendy is the project manager of the NNJ project for her company. As part of the variance and trend analysis tool and technique for risk governance she is using earned value management. In this approach, Wendy wants to track and compare the cost and schedule variances. What is the point of this tool and technique in regard to risk?

Q87. Joan is the project manager of the KYU project for her company. She is working with management on defining a contingency reserve for her project. Currently the project is scheduled to last 18 months and it has a cost budget of $2.5 million. What two areas of the project can the contingency reserve address in regard to risk management?

Q88. You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?