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NEW QUESTION 1
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?
- A. Bias towards risk in new resources
- B. Risk probability and impact matrixes
- C. Risk identification
- D. Uncertainty in values such as duration of schedule activities
NEW QUESTION 2
You are the project manager of the HJU project for your company. This project will last for 18 months and has a project budget of $567,000. Robert, one of your stakeholders, has introduced a scope change request that will likely have an impact on the project costs and schedule. Robert assures you that he will pay for the extra time and costs associated with the risk event. You tell Robert that the change request may affect more areas of the project than just time and cost and that you are worried about the additional risks the change request will bring. What project management component is responsible for evaluating a change request and its impact on all of the project management knowledge areas?
- A. Project change control system
- B. Integrated change control
- C. Risk analysis
- D. Configuration management
NEW QUESTION 3
You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When should the risk categories have been created?
- A. Create work breakdown structure process
- B. Plan risk management process
- C. Risk identification process
- D. Define scope process
NEW QUESTION 4
Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team. What document is Frank and the NHH Project team creating in this scenario?
- A. Resource management plan
- B. Project plan
- C. Project management plan
- D. Risk management plan
NEW QUESTION 5
Mary is a project manager in her organization. On her current project she is working with her project team and other key stakeholders to identify the risks within the project. She is currently aiming to create a comprehensive list of project risks so she is using a facilitator to help generate ideas about project risks. What risk identification method is Mary likely using?
- A. Brainstorming
- B. Delphi Techniques
- C. Checklist analysis
- D. Expert judgment
NEW QUESTION 6
You are the project manager of the KJH Project and are working with your project team to plan the risk responses. Consider that your project has a budget of $500,000 and is expected to last six months. Within the KJH Project you have identified a risk event that has a probability of .70 and has a cost impact of $350,000. When it comes to creating a risk response for this event what is the risk exposure of the event that must be considered for the cost of the risk response?
- A. The risk exposure of the event is $245,000.
- B. The risk exposure of the event is $500,000.
- C. The risk exposure of the event is $350,000.
- D. The risk exposure of the event is $850,000.
NEW QUESTION 7
Mark works as a project manager of the NNH project. In this project, he has created a contingency response that the cost performance index should be less than 0.91. The NHH project has a budget at completion of $950,000 and is 43 percent complete - though the project should be 50 percent complete. The project has spent $470,897 to reach the 43 percent complete milestone. What is the project's cost performance index?
- A. 0.95
- B. 0.80
- C. 0.87
- D. 0.91
NEW QUESTION 8
Shawn is the project manager of the WHT Project for his company. In this project Shawn's team reports that they have found a way to complete the project work for less cost than what was originally planned. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes to the project management plan accordingly. What type of risk response has been used in this instance?
- A. Avoidance
- B. Exploiting
- C. Accepting
- D. Enhancing
NEW QUESTION 9
Your organization has named you the project manager of the JKN Project. This project has a BAC of $1,500,000 and it is expected to last 18 months. Management has agreed that if the schedule baseline has a variance of more than five percent then you will need to crash the project. What happens when the project manager crashes a project?
- A. Project risks will increase.
- B. The project will take longer to complete, but risks will diminish.
- C. Project costs will increase.
- D. The amount of hours a resource can be used will diminish.
NEW QUESTION 10
You are the project manager for a construction project. The project includes a work that involves very high financial risks. You decide to insure processes so that any ill happening can be compensated. Which type of strategies have you used to deal with the risks involved with that particular work?
- A. Mitigate
- B. Avoid
- C. Accept
- D. Transfer
NEW QUESTION 11
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?
- A. Qualitative risk analysis does not happen through the project manager in a functional structure.
- B. You will need the risk register, risk management plan, project scope statement, and any relevant organizational process assets.
- C. You will need the risk register, risk management plan, outputs of qualitative risk analysis, and any relevant organizational process assets.
- D. You will need the risk register, risk management plan, permission from the functional manager, and any relevant organizational process assets.
NEW QUESTION 12
You work as the project manager for BlueWell Inc. You are monitoring the project performance. You want to make a decision to change the project plan to eliminate a risk in order to protect the project objectives. Which of the following strategies will you use to tackle the risk?
- A. Risk mitigation
- B. Risk avoidance
- C. Risk acceptance
- D. Risk transference
NEW QUESTION 13
You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that you assess the probability and what other characteristic of each identified risk in the project?
- A. Impact
- B. Risk owner
- C. Cost
- D. Risk category
NEW QUESTION 14
You are the project manager of the HQQ Project for your company. You are working with your project stakeholders to discuss the risks in the project that can adversely affect the project objectives. You are discussing the possibilities of causes for an identified risk event in your project. Your stakeholder is confused on the difference between causes and risk events. Which of the following is NOT an example of a cause for a project risk?
- A. Limited team members to complete the project work
- B. Quality assurance programs within the company
- C. Work permit requirements
- D. Schedule constraints on the project
NEW QUESTION 15
A project manager must have certain interpersonal skills to communicate with stakeholders and manage their expectations of the project work. Which of the following interpersonal skills has been identified as one of the biggest reasons for project success or failure?
- A. Motivation
- B. Communication
- C. Influencing
- D. Political and cultural awareness
NEW QUESTION 16
You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?
- A. The project's cost management plan can help you to determine what the total cost of the project is allowed to be.
- B. The project's cost management plan provides direction on how costs may be changed due to identified risks.
- C. The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
- D. The project's cost management plan is not an input to the quantitative risk analysis process.
NEW QUESTION 17
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