PMI – RMP All Categories – Full Test
PMI – RMP All Categories – Full Test
Quiz Summary
0 of 295 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 295 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Monitor 0%
- Plan 0%
- Process 0%
- Special 0%
- Stake 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
- 53
- 54
- 55
- 56
- 57
- 58
- 59
- 60
- 61
- 62
- 63
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73
- 74
- 75
- 76
- 77
- 78
- 79
- 80
- 81
- 82
- 83
- 84
- 85
- 86
- 87
- 88
- 89
- 90
- 91
- 92
- 93
- 94
- 95
- 96
- 97
- 98
- 99
- 100
- 101
- 102
- 103
- 104
- 105
- 106
- 107
- 108
- 109
- 110
- 111
- 112
- 113
- 114
- 115
- 116
- 117
- 118
- 119
- 120
- 121
- 122
- 123
- 124
- 125
- 126
- 127
- 128
- 129
- 130
- 131
- 132
- 133
- 134
- 135
- 136
- 137
- 138
- 139
- 140
- 141
- 142
- 143
- 144
- 145
- 146
- 147
- 148
- 149
- 150
- 151
- 152
- 153
- 154
- 155
- 156
- 157
- 158
- 159
- 160
- 161
- 162
- 163
- 164
- 165
- 166
- 167
- 168
- 169
- 170
- 171
- 172
- 173
- 174
- 175
- 176
- 177
- 178
- 179
- 180
- 181
- 182
- 183
- 184
- 185
- 186
- 187
- 188
- 189
- 190
- 191
- 192
- 193
- 194
- 195
- 196
- 197
- 198
- 199
- 200
- 201
- 202
- 203
- 204
- 205
- 206
- 207
- 208
- 209
- 210
- 211
- 212
- 213
- 214
- 215
- 216
- 217
- 218
- 219
- 220
- 221
- 222
- 223
- 224
- 225
- 226
- 227
- 228
- 229
- 230
- 231
- 232
- 233
- 234
- 235
- 236
- 237
- 238
- 239
- 240
- 241
- 242
- 243
- 244
- 245
- 246
- 247
- 248
- 249
- 250
- 251
- 252
- 253
- 254
- 255
- 256
- 257
- 258
- 259
- 260
- 261
- 262
- 263
- 264
- 265
- 266
- 267
- 268
- 269
- 270
- 271
- 272
- 273
- 274
- 275
- 276
- 277
- 278
- 279
- 280
- 281
- 282
- 283
- 284
- 285
- 286
- 287
- 288
- 289
- 290
- 291
- 292
- 293
- 294
- 295
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 295
1. Question
When should a project do risk identification?
CorrectIncorrect -
Question 2 of 295
2. Question
The Project Risk Management knowledge area does not focus on which of the following processes?
CorrectIncorrect -
Question 3 of 295
3. Question
Which of the following should be used to communicate risk management activities and status?
CorrectIncorrect -
Question 4 of 295
4. Question
You are a project manager for a project. The project specialises in generating sufficient power for the national grid across the city or across the country. Your project involves upgrading the nationwide network. Your lead engineer has given you the following estimates for a critical path activity: 60 days most likely, 72 days pessimistic, 48 days optimistic. What is the expected value, or weighted average?
CorrectIncorrect -
Question 5 of 295
5. Question
You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a schedule impact on the project of 2 months. This risk event has a 70% chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but is difficult to implement. Management will not agree on the solution. What should you do in this situation?
CorrectIncorrect -
Question 6 of 295
6. Question
You are carrying out a project by outsourcing, and planning to complete it 6 months later. Recently, you find the subcontractor has many troubles between labourers and management, which have caused some of the employees to leave. Luckily enough, the situation has not causing any impact to your project. But as a project manager, which of the following would you do in this situation?
CorrectIncorrect -
Question 7 of 295
7. Question
You are the project manager of the NGH project for your organisation. You want to create a decision tree diagram to help discover the options and relative risk available to the project. Have completed the decision tree which of the following tools could be used to compliment the project analysis?
CorrectIncorrect -
Question 8 of 295
8. Question
Which of the following are principles and processes in order to create a shared understanding of principles and processes, and foster engagement in risk management?
CorrectIncorrect -
Question 9 of 295
9. Question
You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a financial impact on the project of $450,000. This risk event has a 70 percent chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but it will cost $260,000 to implement. Management agrees with the solution and asks that you include the risk response in the project plan. What risk response is this?
CorrectIncorrect -
Question 10 of 295
10. Question
Lisa is the project manager of the FKN project for her organisation. She is working with Sam, the CIO, to discuss a discount the vendor has offered the project based on the amount of materials that is ordered. Lisa and Sam review the offer and agree that while their project may qualify for the discounted materials the savings is nominal and they would not necessarily pursue the savings. Lisa documents this positive risk response in the risk register. What risk response is this?
CorrectIncorrect -
Question 11 of 295
11. Question
You are the project manager of the NGH project for your organisation. You want to create a cause and- effect diagram to help discover the root causes of the risks within the project. Harold, the CIO, recommends that you create an Ishikawa diagram instead. What is an Ishikawa diagram?
CorrectIncorrect -
Question 12 of 295
12. Question
Your company has won a prestigious project which deals with building software to be used on spaceships landing on the moon. After building the schedule network diagram – you identify the critical path and also a number of Near-Critical Paths. What does this mean with respect to Risks related to Project Schedule ?
CorrectIncorrect -
Question 13 of 295
13. Question
All of the following are diagramming techniques, used within the Identify Risks process, EXCEPT:
CorrectIncorrect -
Question 14 of 295
14. Question
A risk manager had just been hired to take over risk management responsibilities for a company producing a new pharmaceutical drug for diabetics. During the first cycle of risk identification, it was determined that the project had a high level of risk, and an expert was needed. The risk manager’s first order of business is to look over the risk management plan. All of the following are most likely to be addressed within the plan EXCEPT:
CorrectIncorrect -
Question 15 of 295
15. Question
You are the project manager and working on the process of Monitor and Control Risks. Which of the following is NOT Tools and Techniques you can use for this process?
CorrectIncorrect -
Question 16 of 295
16. Question
Management tells a project manager to subcontract part of the project to a company that management has worked with many times. Under these circumstances, the project manager should be MOST concerned about:
CorrectIncorrect -
Question 17 of 295
17. Question
A project manager discovers an urgent need for outsourced resources on the project. He knows he has the money to cover the cost of these resources. He goes to the procurement manager and explains the situation, insisting a contract be drawn up today so he can obtain resources and circumvent the standard procedure. Is this the correct process to follow?
CorrectIncorrect -
Question 18 of 295
18. Question
You are the project manager of the GHY project for your organisation. You are about to start the qualitative risk analysis process for the project and you need to determine the roles and responsibilities for conducting risk management. Where can you find this information?
CorrectIncorrect -
Question 19 of 295
19. Question
You are the project manager of the CUL project in your organisation. You and the project team are assessing the risk events and creating a probability and impact matrix for the identified risks. Which one of the following statements best describes the requirements for the data type used in qualitative risk analysis?
CorrectIncorrect -
Question 20 of 295
20. Question
A risk manager had just been hired to take over risk management responsibilities for a company producing a new pharmaceutical drug for diabetics. During the first cycle of risk identification, it was determined that the project had a high level of risk, and an expert was needed. The risk manager’s first order of business is to look over the risk management plan. All of the following are most likely to be addressed within the plan EXCEPT:
CorrectIncorrect -
Question 21 of 295
21. Question
You are the project manager of the CUL project in your organisation. You and the project team are assessing the risk events and creating a probability and impact matrix for the identified risks. Which one of the following statements best describes the requirements for developing a probability and impact matrix?
CorrectIncorrect -
Question 22 of 295
22. Question
Kelly is the project manager of the BHH project for her organisation. She is completing the risk identification process for this portion of her project. Which one of the following is the only thing that the risk identification process will create for Kelly?
CorrectIncorrect -
Question 23 of 295
23. Question
Mike works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Mike is looking for the process on how cost estimates will be used to qualify risk. Which of the following should Tom use?
CorrectIncorrect -
Question 24 of 295
24. Question
Tom works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following inputs of the identify risks process is useful in identifying risks, and provides a quantitative assessment of the likely cost to complete the scheduled activities?
CorrectIncorrect -
Question 25 of 295
25. Question
Which tools are used to assess stakeholder risk tolerances?
CorrectIncorrect -
Question 26 of 295
26. Question
You are the project manager of a new project in your organisation. You and the project team have identified the project risks, completed risk analysis, and are planning the most appropriate risk responses. Which of the following tools is most effective to choose the most appropriate risk response?
CorrectIncorrect -
Question 27 of 295
27. Question
A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?
CorrectIncorrect -
Question 28 of 295
28. Question
During the execution of a project, a risk is identified by a team member. This newly identified risk is currently not in the Risk Register. As a Project Manager, what is the first action you would take after being notified of the risk?
CorrectIncorrect -
Question 29 of 295
29. Question
A large telecommunications project is about halfway through when you are assigned as the project manager. The project involves three different sellers and a project team of 30 people. You would like to see the project communication requirements and the technology used for communication, where are you likely to find this information?
CorrectIncorrect -
Question 30 of 295
30. Question
Your project has met with an unexpected problem. The supply of a critical component of your final product is delayed by 25 days. You need to show an alpha prototype of the product in 15 days. You’ve called a brainstorming team meeting to determine if you can deliver this limited version without the critical component. What are you trying to create?
CorrectIncorrect -
Question 31 of 295
31. Question
Purchasing insurance is BEST considered an example of risk:
CorrectIncorrect -
Question 32 of 295
32. Question
You are conducting Stakeholder Analysis. Which of the following questions can help you draw out stakeholder interests?
CorrectIncorrect -
Question 33 of 295
33. Question
Stakeholder management includes which of the following?
CorrectIncorrect -
Question 34 of 295
34. Question
You are the project manager of QSL project for your organisation. You are working with your project team and several key stakeholders to create a diagram that shows how various elements of a system interrelate and the mechanism of causation within the system. What diagramming technique are you using as a part of the risk identification process?
CorrectIncorrect -
Question 35 of 295
35. Question
A Fire Fighter falls in the category of:
CorrectIncorrect -
Question 36 of 295
36. Question
There are five outputs of the risk monitoring and controlling process. Which one of the following is NOT an output of the process?
CorrectIncorrect -
Question 37 of 295
37. Question
Which of the following processes has the Risk Register as the primary output?
CorrectIncorrect -
Question 38 of 295
38. Question
All of the following are tools used for performing variance and trend analysis EXCEPT?
CorrectIncorrect -
Question 39 of 295
39. Question
In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?
CorrectIncorrect -
Question 40 of 295
40. Question
You are a project manager for a new Natural Project. You have just completed and obtained sign-off on the scope statement for your product. The stakeholder has informed you that a deliverable is missing from the scope statement. This deliverable is a critical success factor. You should do which of the following?
CorrectIncorrect -
Question 41 of 295
41. Question
What should be done with risks on the watch list?
CorrectIncorrect -
Question 42 of 295
42. Question
Identifying risk tolerance is a vital part of the risk management process. There are many reasons why this should be performed. Which of the following is the core reason why risk tolerances should be identified?
CorrectIncorrect -
Question 43 of 295
43. Question
You are in the middle of developing risk assessment processes and tools that can quantify stakeholder risk tolerances in order to assess and determine risk thresholds for the project. This is core activity for the risk manager and incorporate the help of other to achieve this. What is a core tool and technique to achieve this?
CorrectIncorrect -
Question 44 of 295
44. Question
The purpose of risk status meeting is to:
CorrectIncorrect -
Question 45 of 295
45. Question
After conducting a SWOT Analysis, you have determined that a business deal is worth pursuing. You are required to use Agile development practices. In your company, there is no expertise in Agile development. Hence, you partner with another organisation that specialises in Agile development. This is an example of:
CorrectIncorrect -
Question 46 of 295
46. Question
You are the project manager for an upcoming project. You’re working on the procurement plan for the program that will control the IT aspect of the project. You’ve decided to contract with a professional services company that specialises in writing custom software programs. You want to minimise the risk to the organisation, so you’ll opt for which contract type?
CorrectIncorrect -
Question 47 of 295
47. Question
As a practicing project manager, you have a responsibility to all of the following except:
CorrectIncorrect -
Question 48 of 295
48. Question
If the cost of insurance is $10,000, the value of the property is $100,000, and the probability of loss is ten percent, what is the expected cost of the insurance?
CorrectIncorrect -
Question 49 of 295
49. Question
During a status meeting, two project team members began a heated argument that escalated to the point that half the room was involved. The project manager had her hands full in keeping the room under control. What are the team members most likely arguing about?
CorrectIncorrect -
Question 50 of 295
50. Question
You work as a project manager for BlueWell Inc. You are working with Jon, the CIO of your company, on several risks within the project. Jon understands that through quantitative analysis you have used decision tress to understand and evaluate different risk and options. Jon’s concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. He would like to know what you are going to do to understand this?
CorrectIncorrect -
Question 51 of 295
51. Question
The project manager is in the process of evaluating bids on a scope of work that neither the team nor others in the organisation are familiar with. Which of the following would be the best technique to ensure that there are no significant differences in understanding of scope and risk with the prospective seller?
CorrectIncorrect -
Question 52 of 295
52. Question
Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called?
CorrectIncorrect -
Question 53 of 295
53. Question
Which of the following Tools and Techniques are part of Risk Management Planning?
CorrectIncorrect -
Question 54 of 295
54. Question
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?
CorrectIncorrect -
Question 55 of 295
55. Question
Jim updates risk policies and procedures using information such as lessons learned from projects and outputs of risk audits in order to improve the risk management effectiveness with HJK Inc. Jim is unaware of certain performances of the project which he has not captured. Why could have this happened to Jim’s project?
CorrectIncorrect -
Question 56 of 295
56. Question
Which of the following statements is true about risks?
CorrectIncorrect -
Question 57 of 295
57. Question
You work as a project manager for BlueWell Inc. You are working with Nancy, the COO of your company, on several risks within the project. Nancy understands that through qualitative analysis you have identified 80 risks that have a low probability and low impact as the project is currently planned. Nancy’s concern, however, is that the impact and probability of these risk events may change as conditions within the project may change. She would like to know where will you document and record these 80 risks that have low probability and low impact for future reference. What should you tell Nancy?
CorrectIncorrect -
Question 58 of 295
58. Question
You are the project manager of the GYH project for your organisation. Management has asked you to begin identifying risks and to use an information gathering technique. Which one of the following risk identification approaches is an information gathering technique?
CorrectIncorrect -
Question 59 of 295
59. Question
Beta is the Project Manager of a Road construction project. During a project review, Beta realises that one particular risk has occurred. To take appropriate action against risk that has happened, Beta needs to refer to which document?
CorrectIncorrect -
Question 60 of 295
60. Question
Which of the following statements regarding reserve time (contingency) is false?
CorrectIncorrect -
Question 61 of 295
61. Question
You work as a project manager for BlueWell Inc. Your project is using a new material to construct a large warehouse in your city. This new material is cheaper than traditional building materials, but it takes some time to learn how to use the material properly. You have communicated to the project stakeholders that you will be able to save costs by using the new material, but you will need a few extra weeks to complete training to use the materials. This risk response of learning how to use the new materials can also be known as what term?
CorrectIncorrect -
Question 62 of 295
62. Question
During which stage of Risk planning are risks prioritised based on probability and impact?
CorrectIncorrect -
Question 63 of 295
63. Question
When assessing the level of stakeholder engagement, which of the following analytical techniques should be used?
CorrectIncorrect -
Question 64 of 295
64. Question
A project manager asked various stakeholders to determine the probability and impact of a number of risks. He then analysed assumptions. He is about to move to the next step of risk management. Based on this information, what has the project manager forgotten to do?
CorrectIncorrect -
Question 65 of 295
65. Question
You are assigned as the project manager in a project with an aggressive schedule. During a recent meeting your team complained about the high pressure applied and the many hours of overwork time. What is the preferred solution to handle the problem?
CorrectIncorrect -
Question 66 of 295
66. Question
You are a risk auditor for your company. You are reviewing the contract types a project manager has used in her project. Of the following, which contract type has the most risk for the project manager as a buyer?
CorrectIncorrect -
Question 67 of 295
67. Question
In order to complete work on your projects, you have been provided confidential information from all of your clients. A university contacts you to help it in its research. Such assistance would require you to provide the university with some of the client data from your files. What should you do?
CorrectIncorrect -
Question 68 of 295
68. Question
Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?
CorrectIncorrect -
Question 69 of 295
69. Question
During which stage of Risk planning are modelling techniques used to determine overall effects of risks on project objectives for high probability, high impact risks?
CorrectIncorrect -
Question 70 of 295
70. Question
Workarounds are determined during which risk management process?
CorrectIncorrect -
Question 71 of 295
71. Question
You are a project manager for product development. Your project involves upgrading the nationwide network for the company. Your lead engineer has given you the following estimates for a critical path activity: 60 days most likely, 72 days pessimistic, 48 days optimistic. What is the standard deviation?
CorrectIncorrect -
Question 72 of 295
72. Question
What should project contingency reserve be evaluated on?
CorrectIncorrect -
Question 73 of 295
73. Question
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?
CorrectIncorrect -
Question 74 of 295
74. Question
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
CorrectIncorrect -
Question 75 of 295
75. Question
Fred is the project manager of a large project in his organisation. Fred needs to begin planning the risk management plan with the project team and key stakeholders. Which plan risk management process tool and technique should Fred use to plan risk management?
CorrectIncorrect -
Question 76 of 295
76. Question
Andrew is a Project Manager for Green Valley project. A risk management plan has been prepared for the project. Which of the following should Andrew do next?
CorrectIncorrect -
Question 77 of 295
77. Question
Henry is the project manager of the QBG Project for his company. This project has a budget of $4,576,900 and is expected to last 18 months to complete. The CIO, a stakeholder in the project, has introduced a scope change request for additional deliverables as part of the project work and to ensure all risks can be mitigated. What component of the change control system would review the proposed impact on the features and functions of the project’s product to understand the level of risk?
CorrectIncorrect -
Question 78 of 295
78. Question
You are the project manager of the GHY project for your company. This project has a budget of $543,000 and is expected to last 18 months. In this project, you have identified several risk events and created risk response plans. In what project management process group will you implement risk response plans?
CorrectIncorrect -
Question 79 of 295
79. Question
Which of the following processes has risk register as the primary output?
CorrectIncorrect -
Question 80 of 295
80. Question
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 organisation will receive a bonus of $80,000 per day that the project is completed early up to $800,000. Tracy realises 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?
CorrectIncorrect -
Question 81 of 295
81. Question
John Strauss is a Project Manager for a reforestation project. To identify the risks involved, John sends a questionnaire to gather inputs from experts. Which technique is John using?
CorrectIncorrect -
Question 82 of 295
82. Question
Mathew is a Project Manager for software migration at a bank. A major risk that has been identified is attrition of resources. As a strategy to respond to this risk, Mathew, with support from Senior Management, provides good increments to his team members. What type of risk response is Mathew following?
CorrectIncorrect -
Question 83 of 295
83. Question
Risk tolerances are determined in order to help:
CorrectIncorrect -
Question 84 of 295
84. Question
Techniques such as force field analysis, scenario planning, futures thinking, visualisation, Delphi groups and nominal group technique are associated with which risk management area:
CorrectIncorrect -
Question 85 of 295
85. Question
Planning meetings and analysis is a tool and technique of which process?
CorrectIncorrect -
Question 86 of 295
86. Question
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?
CorrectIncorrect -
Question 87 of 295
87. Question
Who has the cost risk in a fixed price (FP) contract?
CorrectIncorrect -
Question 88 of 295
88. Question
Pete works as a project manager for BlueWell Inc. The Management has told him that he must implement an agreed-upon contingency response if the cost performance index in his project is less than 0.90. Consider that Pete’s project has a budget at completion of $275,000. His project is 65 percent complete and he has spent $175,000 to date. However, Pete is scheduled to be 78 percent complete. What is the cost performance index for this project to determine if the contingency response should happen?
CorrectIncorrect -
Question 89 of 295
89. Question
Which of these is not a valid response to positive risks?
CorrectIncorrect -
Question 90 of 295
90. Question
A major negotiation with a potential supplier is scheduled for the next day when you discover that the project may get cancelled due to the risk and exposure. What should you do?
CorrectIncorrect -
Question 91 of 295
91. Question
Frank is the project manager of the NHL Project for his company and he is starting the risk identification process for the project. Frank needs to ensure that the correct stakeholders are interviewed as part of risk identification. What document will help Frank to communicate and solicit inputs of the project stakeholders during risk identification?
CorrectIncorrect -
Question 92 of 295
92. Question
John works as a project manager for ABD project. He and his team, are working on the following activities:
– Relative ranking of a priority list of project risks
– Watchlist of low priority risk
– Trends in Qualitative Risk Analysis results
In which of the following processes is John working on?CorrectIncorrect -
Question 93 of 295
93. Question
John works as a project manager for ABD project. He and his team, are working on the following activities:
– Relative ranking of a priority list of project risks
– Watchlist of low priority risk
– Trends in Qualitative Risk Analysis results
In which of the following processes is John working on?CorrectIncorrect -
Question 94 of 295
94. Question
Which of the following risk management processes numerically analyses the effects of identified risks on the project objectives?
CorrectIncorrect -
Question 95 of 295
95. Question
A project manager of a retail chain of hardware stores is in the process of conducting risk identification activities. In considering the potential risks, he and his team identified 55 risks total. During a planning meeting, a discussion was held on a particular risk identified, which involves potential lawsuits if a customer or employee were to get injured from the display of chainsaws. What type of risk is this?
CorrectIncorrect -
Question 96 of 295
96. Question
In which process of Project Risk Management knowledge area are numeric values assigned to probabilities and impact of risks?
CorrectIncorrect -
Question 97 of 295
97. Question
Your company has bagged a number of government contracts dealing with setting up infrastructure. This includes setting up roads and bridges. This is a very big and prestigious project so your company would like to ensure everything is planned well in advance. You are the project manager of this project. Considering its importance – you and your team come up with a list of risks. One of the subject matter experts indicates that during the months of July and August the construction work of the bridge across the river would need to stop on account of past history of flooding of the river. You agree with the expert and plan the schedule accordingly. What strategy did you just apply ?
CorrectIncorrect -
Question 98 of 295
98. Question
During which stage of risk planning are risks prioritised based on their relative probability and impact?
CorrectIncorrect -
Question 99 of 295
99. Question
Which of the following processes must be repeated after Plan Risk Responses, as well as part of the Monitor and Control Risks, to determine if the overall project risk has been satisfactorily decreased?
CorrectIncorrect -
Question 100 of 295
100. Question
Techniques such as integrated cost/schedule analysis is associated with which risk management area:
CorrectIncorrect -
Question 101 of 295
101. Question
Which of the following processes is described in the statement below? “This is the process of numerically analysing the effect of identified risks on overall project objectives.”
CorrectIncorrect -
Question 102 of 295
102. Question
What are workarounds in project management?
CorrectIncorrect -
Question 103 of 295
103. Question
How are risk lessons learnt captured?
CorrectIncorrect -
Question 104 of 295
104. Question
Which of the following risk response strategies involves outsourcing the risky projects?
CorrectIncorrect -
Question 105 of 295
105. Question
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. Mark, one of your project team members, asks what tool and technique should be used to identify contingency what a contingency plan is. Which of the following statements best defines what a contingency response is?
CorrectIncorrect -
Question 106 of 295
106. Question
A project manager liked to hold meetings on a weekly basis with his team members. These meetings resembled brainstorming sessions, where ideas were generated regarding existing risks and project issues. The project manager never struck down any idea, and instead, attempted to foster an environment where creativity and sharing of ideas was encouraged. What type of leadership style does this project manager use?
CorrectIncorrect -
Question 107 of 295
107. Question
A project has just lost its priority from being one of the key projects that the organisation was interested in to one of a low priority. This introduces risk belonging to which category?
CorrectIncorrect -
Question 108 of 295
108. Question
You are in charge of a painting project for a high rise building. As part of the planning – you need to take a decision of buy Vs lease for some stilt ladders needed on site. The cost of the ladder is 1000 $ and a daily cost of 4$ while the daily lease cost is 12$.If you were to lease the ladder – what should be the duration to ensure your decision is correct?
CorrectIncorrect -
Question 109 of 295
109. Question
You are preparing to start the qualitative risk analysis process for your project. You will be relying on some organisational process assets to influence the process. Which one of the following is NOT a probable reason for relying on organisational process assets as an input for qualitative risk analysis?
CorrectIncorrect -
Question 110 of 295
110. Question
The only output of the perform qualitative risk analysis are risk register updates. When the project manager updates the risk register he will need to include several pieces of information including all of the following except for which one?
CorrectIncorrect -
Question 111 of 295
111. Question
As the project manager, of a project to construct a city park, you have yourself identified 39 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested the assumptions and assessed the quality of the data used. You now plan to move to the next step of the risk management process. What have you missed?
CorrectIncorrect -
Question 112 of 295
112. Question
You work as a project manager for BlueWell Inc. You are working with your team members on the risk responses in the project. Which risk response will likely cause a project to use the procurement processes?
CorrectIncorrect -
Question 113 of 295
113. Question
Which of the following is true about risks?
CorrectIncorrect -
Question 114 of 295
114. Question
All of the following are common results of risk management EXCEPT?
CorrectIncorrect -
Question 115 of 295
115. Question
Risk Management is designed to increase the likelihood of positive events vs the likelihood and impact of negative events affecting a project. There are several processes recommended for identifying and tackling risks. Which of the following processes occurs first?
CorrectIncorrect -
Question 116 of 295
116. Question
Your status meetings have project stakeholders from various parts of the globe. Which of the following is best to avoid communication errors during the meeting?
CorrectIncorrect -
Question 117 of 295
117. Question
You work as a project manager for BlueWell Inc. You have to communicate the causes of risk events to the stakeholders. Which risk diagramming technique you will use to communicate the causes of risk events to project stakeholders?
CorrectIncorrect -
Question 118 of 295
118. Question
What project management plan is most likely to direct the quantitative risk analysis process for a project in a matrix environment?
CorrectIncorrect -
Question 119 of 295
119. Question
Your company has won a large project for one of the fund houses to administer their funds. The project work has been going on smoothly and the customer has been singing praises about the work done so far. The client has planned a visit the next month to go over the plans for the next phase of the project as well as to meet with the project team. Your senior management realises that this client could potentially need additional capabilities in the derivatives segment. Your company happens to have a strong exposure to this segment having executed numerous such projects. Your senior manager also invites key managers from the derivatives segment to showcase the organisations abilities in the derivatives vertical – this is an example of ?
CorrectIncorrect -
Question 120 of 295
120. Question
You were in the middle of a two-year project to deploy new technology to field offices across the country. A hurricane caused power outages just when the upgrade was near completion. When the power was restored, all of the project reports and historical data were lost with no way of retrieving them. What should have been done to prevent this problem?
CorrectIncorrect -
Question 121 of 295
121. Question
Negotiations between two parties are becoming complex, so party A makes some notes that both parties sign. However, when the work is being done, party B claims that they are not required to provide an item they both agreed to during negotiations, because it was not included in the subsequent contract. In this case, party B is:
CorrectIncorrect -
Question 122 of 295
122. Question
Where can a project manager find project risk responsibilities?
CorrectIncorrect -
Question 123 of 295
123. Question
You work as a project manager for BlueWell Inc. You would like to utilise sensitivity analysis in your project, but the management does not understand how this will be displayed. What type of chart is usually used with sensitivity analysis to show the relative affect of risks on the project?
CorrectIncorrect -
Question 124 of 295
124. Question
Where can a project manager find risk-rating rules?
CorrectIncorrect -
Question 125 of 295
125. Question
All of the following are inputs of the Identify Risks process EXCEPT:
CorrectIncorrect -
Question 126 of 295
126. Question
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?
CorrectIncorrect -
Question 127 of 295
127. Question
Ruth is the project manager of ISFH project for her company. This project is forty percent complete and it appears that some risk events are going to happen in the project that will have an adverse affect on the project. Ruth creates a change request regarding the risks. Is this a valid response?
CorrectIncorrect -
Question 128 of 295
128. Question
You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform distribution method for a portion of the project. Which part of your project is most likely to have a uniform risk distribution?
CorrectIncorrect -
Question 129 of 295
129. Question
During which risk management process is a determination to transfer a risk made?
CorrectIncorrect -
Question 130 of 295
130. Question
Which of the following is not an output of the qualitative risk analysis?
CorrectIncorrect -
Question 131 of 295
131. Question
The probability of risk occurring is highest during which stage of project management?
CorrectIncorrect -
Question 132 of 295
132. Question
After much excitement and hard work, the procurement statement of work for the project is completed. Even after gaining agreement that the procurement statement of work is complete, the project manager is still concerned whether it actually addresses all the buyer’s needs. The project manager is about to attend the bidder conference. He asks you for advice on what to do during the session. Which of the following is the BEST advice you can give him?
CorrectIncorrect -
Question 133 of 295
133. Question
Your team has just bagged a software development project. The executive management is very pleased as this is a very prestigious project. However you are a little worried considering the complex nature of the project. You decide to try and identify the possible risks. You get all relevant stakeholders together and conduct mammoth discussions. Together you have come up with a number of risks. However based on your experience – you still feel that not all the risks have been identified. You decide to set aside some budget for the risks that you have not identified but are sure you will encounter. Where does this budget come from?
CorrectIncorrect -
Question 134 of 295
134. Question
The project manager and project sponsor are discussing the project costs and whether it is better to have their own company do part of the project or hire another company to do the work. If they asked for your opinion, you might say it would be better to do the work yourself if:
CorrectIncorrect -
Question 135 of 295
135. Question
The communication management plan contains all of the following EXCEPT:
CorrectIncorrect -
Question 136 of 295
136. Question
The process of developing strategies to reduce the threat of uncertainties to project objectives is a process called:
CorrectIncorrect -
Question 137 of 295
137. Question
Which of the following tools and techniques are used to support risk decision making?
CorrectIncorrect -
Question 138 of 295
138. Question
You have being assigned to a project that is not going very well. You have discussed the project with the sponsor and have agreed that there is a need to change some of the core requirements of the project. The sponsor is committed to the action and has requested the functional managers to support the project. As the project manager, what should you do NEXT?
CorrectIncorrect -
Question 139 of 295
139. Question
Lisa is the project manager of the SQL project for her company. She has completed the risk response planning with her project team and is now ready to update the risk register to reflect the risk response. Which of the following statements best describes the level of detail Lisa should include with the risk responses she has created?
CorrectIncorrect -
Question 140 of 295
140. Question
All of the following statements are true EXCEPT:
CorrectIncorrect -
Question 141 of 295
141. Question
During which of the following processes is a probability and impact matrix used?
CorrectIncorrect -
Question 142 of 295
142. Question
You have discovered that a new pipeline project you are managing may pose a threat to the environment. What is the most appropriate action ?
CorrectIncorrect -
Question 143 of 295
143. Question
You have just started administrating a contract when management decides to terminate the contract based on the risk. What should you do FIRST?
CorrectIncorrect -
Question 144 of 295
144. Question
During which of the following processes, probability and impact matrix is used?
CorrectIncorrect -
Question 145 of 295
145. Question
Which of the following can best help a project manager during project execution?
CorrectIncorrect -
Question 146 of 295
146. Question
Your organisation, as part of its enterprise environmental factors, has established risk governance to be implemented in each project. Part of this governance is the reassessment of risks within each project. How much detail and repetition in approach for risks to be reassessed for probability and impact?
CorrectIncorrect -
Question 147 of 295
147. Question
All of the following statements are true, EXCEPT:
CorrectIncorrect -
Question 148 of 295
148. Question
Todd is the project manager of the EST project for his company. His organisation 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?
CorrectIncorrect -
Question 149 of 295
149. Question
You have been appointed as the manager of a new, large, and complex project. Because this project is business-critical and very visible, senior management has told you to analyse the project’s risks and prepare response strategies for them as soon as possible. The organisation has risk management procedures that are seldom used or followed, and has had a history of handling risks badly. The project’s first milestone is in two weeks. In preparing the risk response plan, input from which of the following is generally LEAST important?
CorrectIncorrect -
Question 150 of 295
150. Question
Which of the following techniques would a project use to provide risk-related recommendations to stakeholders regarding risk strategy and planning, risk process facilitation, risk reporting and specialised risk tasks?
CorrectIncorrect -
Question 151 of 295
151. Question
You are the project manager of RTF project for your organisation. 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?
CorrectIncorrect -
Question 152 of 295
152. Question
Risk strategy and planning is based on which of the following tools and techniques
CorrectIncorrect -
Question 153 of 295
153. Question
When involved in project negotiations, non-verbal communication skills are of: –
CorrectIncorrect -
Question 154 of 295
154. Question
You are working with your project stakeholders to identify risks within the JKP Project. You want to use an approach to engage the stakeholders to increase the breadth of the identified risks by including internally generated risk. Which risk identification approach is most suited for this goal?
CorrectIncorrect -
Question 155 of 295
155. Question
Which of the following is NOT an input for the Qualitative Risk Analysis process?
CorrectIncorrect -
Question 156 of 295
156. Question
Risk categories can BEST be described as:
CorrectIncorrect -
Question 157 of 295
157. Question
What approach can a project manager use to improve the project’s performance during qualitative risk analysis?
CorrectIncorrect -
Question 158 of 295
158. Question
A project manager of Cyber Channels Inc. is in the process of identifying project risks. While reviewing how the elements of a particular system interrelate, she discovers two risks relating to the cause of another risk that were both initially overlooked. Which of the following techniques is the project manager using?
CorrectIncorrect -
Question 159 of 295
159. Question
Which of the following documents is described in the statement below? “It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning.”
CorrectIncorrect -
Question 160 of 295
160. Question
During the creation of the risk management plan, you decide to start by analysing the risk tolerance levels of the organisation and of stakeholders. What information are you most likely to utilise?
CorrectIncorrect -
Question 161 of 295
161. Question
You are the project manager for BlueWell Inc. Your current project is a high priority and high profile project within your organisation. You want to identify the project stakeholders that will have the most power in relation to their interest on your project. This will help you plan for project risks, stakeholder management, and ongoing communication with the key stakeholders in your project. In this process of stakeholder analysis, what type of a grid or model should you create based on these conditions?
CorrectIncorrect -
Question 162 of 295
162. Question
The impact of risk occurring is lowest during which stage of project management?
CorrectIncorrect -
Question 163 of 295
163. Question
You have just finished updating the risk register with the prioritised list of risks. What risk management process are you currently in?
CorrectIncorrect -
Question 164 of 295
164. Question
A system development project is nearing project closing when a previously unidentified risk is discovered. This could potentially affect the project’s overall ability to deliver. What should be done NEXT?
CorrectIncorrect -
Question 165 of 295
165. Question
An output of risk response planning is:
CorrectIncorrect -
Question 166 of 295
166. Question
When a project is assessing stakeholder risk tolerance and building stakeholder consensus, what activity is being performed?
CorrectIncorrect -
Question 167 of 295
167. Question
Kelly is the project manager of the NNQ Project for her company. This project will last for one year and has a budget of $350,000. Kelly is working with her project team and subject matter experts to begin the risk response planning process. When the project manager begins the plan risk response process, what two inputs will she need?
CorrectIncorrect -
Question 168 of 295
168. Question
A diagramming technique that shows causal influences, time ordering of events, and an expectation of outcomes considering a set of variables is considered:
CorrectIncorrect -
Question 169 of 295
169. Question
What should be used to drive risk process improvements?
CorrectIncorrect -
Question 170 of 295
170. Question
Jenny is the project manager for the NBT projects. She is working with the project team and several subject matter experts to perform the quantitative risk analysis process. During this process she and the project team uncover several risks events that were not previously identified. What should Jenny do with these risk events?
CorrectIncorrect -
Question 171 of 295
171. Question
Your program manager has come to you, the project manager, for help with a bid for her newest project. You want to protect your company from financial risk. You have limited scope definition. What is the BEST type of contract to choose?
CorrectIncorrect -
Question 172 of 295
172. Question
Which of the following statements regarding pure risk is true
CorrectIncorrect -
Question 173 of 295
173. Question
Which of the following statements BEST describes Checklist Analysis?
CorrectIncorrect -
Question 174 of 295
174. Question
What tools and techniques are used to estimate the overall risk exposure of the project?
CorrectIncorrect -
Question 175 of 295
175. Question
A risk is characterised by:
CorrectIncorrect -
Question 176 of 295
176. Question
You want to develop and establish evaluation criteria for risk management processes based on project baselines and objectives in order to measure effectiveness of the project risk process. What tool and technique should be used to do this?
CorrectIncorrect -
Question 177 of 295
177. Question
You have just taken control of a large-scale project of architectural engineering, and one of the sponsors reminds you of another important yet trouble-making stakeholder notorious for requesting changes. You have dealt with this stakeholder in the past and while it has being tough going, you have generally reached a successful outcome with him. This project is considered by one of the key projects in the organisations portfolio and do not want any obstacles along the project path. As a project manager, how would you best deal with this potential stakeholder problem?
CorrectIncorrect -
Question 178 of 295
178. Question
An experienced project manager has just begun working for a large information technology integrator. Her manager provides her with a draft project charter and immediately asks her to provide an analysis of the risks on the project. Which of the following would BEST help in this effort?
CorrectIncorrect -
Question 179 of 295
179. Question
Your project is in middle of managing the contract, when the seller comes to you to discuss some of the items of the RFP. The seller has a series of questions that need to be discussed and want to set up meeting with you and your project team. You investigate the items and agree that a discussion should happen. What should you say to the seller?
CorrectIncorrect -
Question 180 of 295
180. Question
A project manager discovers an urgent needs for outsourced resources on the project. He knows he has the capital for the resources and goes to the procurement manager to explain the situation. He insists that a letter of intent is drawn up as soon as possible so he can obtain the resources and move forward without having to get caught in red tape. What would you recommend to the project manager: –
CorrectIncorrect -
Question 181 of 295
181. Question
You have replaced an earlier project manager in a project .The earlier project manager has left the organisation and you are now responsible for the project. On reviewing the project management plan you are disturbed because a number of procurement contracts have been signed and they all turn out to be Cost plus fixed fee types of contracts – why are you worried ?
CorrectIncorrect -
Question 182 of 295
182. Question
A particular stakeholder has a reputation for making numerous changes on the project. The project manager is concerned with this situation as the project needs to be managed against an agreed timeline and budget. What should the project manager do at the beginning of the project to manage this situation?
CorrectIncorrect -
Question 183 of 295
183. Question
When is passive risk acceptance an appropriate approach?
CorrectIncorrect -
Question 184 of 295
184. Question
Your project spans the entire organisation. You would like to assess the risk of the project but are worried that some of the managers involved in the project could affect the outcome of any risk identification meeting. Your worry is based on the fact that some employees would not want to publicly identify risk events that could make their supervisors look bad. You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?
CorrectIncorrect -
Question 185 of 295
185. Question
A project manager reviewing a control chart noticed that three of the processes were climbing up towards the upper control limit. What should the project manager do?
CorrectIncorrect -
Question 186 of 295
186. Question
During execution in a project to build a major road bridge, your team found a major flaw in the technical drawings. On an ad-hoc base, they had to find and implement a workaround to avoid delays and mitigate technical problems. What should you do next?
CorrectIncorrect -
Question 187 of 295
187. Question
There are four inputs to the Monitoring and Controlling Project Risks process. Which one of the following will NOT help you, the project manager, to prepare for risk monitoring and controlling?
CorrectIncorrect -
Question 188 of 295
188. Question
A project manager has just finished the risk response plan for a U.S. $387,000 engineering project. Which of the following should he probably do NEXT?
CorrectIncorrect -
Question 189 of 295
189. Question
During a post-mortem meeting, discussion arises about who has to take responsibility for some major failures. It has become obvious that the attendees of the meeting will not come to a jointly accepted conclusion. What is not an appropriate strategy for such a situation?
CorrectIncorrect -
Question 190 of 295
190. Question
A contractor is working on a fixed price contract that calls for a single, lump sum payment upon satisfactory completion of the contract. About halfway through the contract, the contractor’s project manager informs their contract administrator that financial problems are making it difficult for them to pay their employees and subcontractors. The contractor asks for a partial payment for work accomplished. Which of the following actions by the buyer is most likely to cause problems for the project?
CorrectIncorrect -
Question 191 of 295
191. Question
You are a project manager for one of many projects in a large and important program. At a high-level status meeting, you note that another project manager has reported her project on schedule. Looking back on your project over the last few weeks, you remember many deliverables from the other project that arrived late. What should you do?
CorrectIncorrect -
Question 192 of 295
192. Question
Frank is the project manager of the NHQ project for his company. Frank is working with the project team, key stakeholders, and several subject matter experts on risks dealing with the new materials in the project. Frank wants to utilise a risk analysis method that will help the team to make decisions in the presence of the current uncertainty surrounding the new materials. Which risk analysis approach can Frank use to create an approach to make decisions in the presence of uncertainty?
CorrectIncorrect -
Question 193 of 295
193. Question
If a project manager wants to report on the actual project results versus the planned results which should be used: –
CorrectIncorrect -
Question 194 of 295
194. Question
Sammy is the project manager for her organisation. She would like to rate each risk based on its probability and affect on time, cost, and scope. Harry, a project team member, has never done this before and thinks Sammy is wrong to attempt this approach. Harry says that an accumulative risk score should be created, not three separate risk scores. Who is correct in this scenario?
CorrectIncorrect -
Question 195 of 295
195. Question
Jonathon is a new project manager and is introduced into the project at an early stage. Jonathon wants to liaise with stakeholders of other projects by using communication techniques and sharing information on project risk performance. Which technique should Jonathon use?
CorrectIncorrect -
Question 196 of 295
196. Question
A risk register is an output of this process:
CorrectIncorrect -
Question 197 of 295
197. Question
You are finalising the monthly project status report due now to your manager when you discover that several project team members are not reporting actual hours spent on project activities. This results in skewed project statistics. What is the MOST appropriate action to be taken?
CorrectIncorrect -
Question 198 of 295
198. Question
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?
CorrectIncorrect -
Question 199 of 295
199. Question
Jane is the project manager of the GBB project for her company. In the current project a vendor has offered the project a ten percent discount based if they will order 100 units for the project. It is possible that the GBB Project may need the 100 units, but the cost of the units is not a top priority for the project. Jane documents the offer and tells the vendor that they will keep the offer in mind and continue with the project as planned. What risk response has been given in this project?
CorrectIncorrect -
Question 200 of 295
200. Question
Which Risk Response strategy can involve using tools such as insurance, performance bonds, warranties or guarantees?
CorrectIncorrect -
Question 201 of 295
201. Question
All of the following are tools and techniques of the Identify Risks process EXCEPT:
CorrectIncorrect -
Question 202 of 295
202. Question
Fred is the project manager of the CPS project. He is working with his project team to prioritise the identified risks within the CPS project. He and the team are prioritising risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?
CorrectIncorrect -
Question 203 of 295
203. Question
A reserve is generally intended to be used for: –
CorrectIncorrect -
Question 204 of 295
204. Question
The cost performance index (CPI) of a project is 0.6 and the schedule performance index (SPI) is 0.71. The project has 625 work packages and is being completed over a four-year period. The team members are very inexperienced, and the project received little support for proper planning. Which of the following is the BEST thing to do?
CorrectIncorrect -
Question 205 of 295
205. Question
A project has a tight budget when you begin negotiating with a seller for a piece of equipment. The seller has told you that the equipment price is fixed. Your manager has told you to negotiate the cost with the seller. What is your BEST course of action?
CorrectIncorrect -
Question 206 of 295
206. Question
Virginia is the project manager for her organisation. She has hired a subject matter expert to interview the project stakeholders on certain identified risks within the project. The subject matter expert will assess the risk event with what specific goal in mind?
CorrectIncorrect -
Question 207 of 295
207. Question
You are the project manager of the NHQ Project for your company. You have completed qualitative and quantitative analysis of your identified project risks and you would now like to find an approach to increase project opportunities and to reduce threats within the project. What project management process would best help you?
CorrectIncorrect -
Question 208 of 295
208. Question
You are managing a project and based on risk identification – you feel very confident that the project should run smoothly. The next day the lead architect indicates a risk which was not envisioned. He indicates a 10% possibility of the risk occurring and the effort involved of choosing an alternate path worth $2000. The side effect of alternate path implementation is that a lot of testing efforts would get reduced worth $4500 and the possibility being 30%.What would be the EMV ?
CorrectIncorrect -
Question 209 of 295
209. Question
Which of the following is an output of the Identify Risks process.
CorrectIncorrect -
Question 210 of 295
210. Question
A project manager currently working on a mid-level pharmaceutical project was in the process of developing the list of identified risks. Risk experts were brought into the process, who provided feedback anonymously. The project manager utilised this technique to avoid bias in the responses and feedback provided by the risk experts. Which of the following techniques is the project manager utilising?
CorrectIncorrect -
Question 211 of 295
211. Question
How should risk ownership be communicated to project stakeholders?
CorrectIncorrect -
Question 212 of 295
212. Question
The project is coming to a close and an analysis of lesson learnt is finally been completed. A project stakeholder mentions that the project communication was not what she expected it to be and it came as a surprise that the project communicated so frequently during the project. As the project manager, a root cause analysis should be done on which of the following?
CorrectIncorrect -
Question 213 of 295
213. Question
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?
CorrectIncorrect -
Question 214 of 295
214. Question
Shelly is the project manager of the BUF project for her company. In this project Shelly needs to establish some rules to reduce the influence of risk bias during the qualitative risk analysis process. What method can Shelly take to best reduce the influence of risk bias?
CorrectIncorrect -
Question 215 of 295
215. Question
A project manager working for a mid-level software company is in the process of executing the project work. During risk management planning, the team had discovered 42 risks that require some form of action or response. Over the coming weeks, the time to implement these actions would take place. During which stage of this project would the impact of risk be at its highest?
CorrectIncorrect -
Question 216 of 295
216. Question
A project manager of a retail chain of hardware stores is in the process of conducting risk identification activities. Along with the risk management team, the project manager examined the existing project plans to determine whether they were consistent with the project requirements. What technique is the project manager currently using?
CorrectIncorrect -
Question 217 of 295
217. Question
What risk identification technique allows participants to identify the project risks and to remain anonymous?
CorrectIncorrect -
Question 218 of 295
218. Question
Techniques such as risk-based earned value and risk-based critical chain analysis are associated with which risk management area:
CorrectIncorrect -
Question 219 of 295
219. Question
Your company has an emergency and needs contracted work done as soon as possible. Under these circumstances, which of the following would be the MOST helpful to add to the contract?
CorrectIncorrect -
Question 220 of 295
220. Question
A mathematical analysis that shows the risks that have the most potential impact on the project is termed:
CorrectIncorrect -
Question 221 of 295
221. Question
You are the project manager of the NHJ project for your company. This project has a budget at completion of $1,650,000 and you are 60 percent complete. According to the project plan, however, the project should be 65 percent complete. In this project you have spent $995,000 to reach this point of completion. There is a risk that this project may be late so you have taken some measures to recover the project schedule. Management would like to know, based on current performance, what the estimate at completion for this project will be. What is the estimate at completion?
CorrectIncorrect -
Question 222 of 295
222. Question
You are the project manager for your organisation. You are working with your key stakeholders in the qualitative risk analysis process. You understand that there is certain bias towards the risk events in the project that you need to address, manage, and ideally reduce. What solution does the PMBOK recommend to reduce the influence of bias during qualitative risk analysis?
CorrectIncorrect -
Question 223 of 295
223. Question
You have just been assigned as project manager for a large manufacturing project. This one-year project is about halfway done. It involves five different sellers and 20 members of your company on the project team. You want to quickly review where the project now stands. Which of the following reports would be the MOST helpful in finding such information?
CorrectIncorrect -
Question 224 of 295
224. Question
You are the project manager of the NKJ Project for your company. The project’s success or failure will have a significant impact on your organisation’s profitability for the coming year. Management has asked you to identify the risk events and communicate the event’s probability and impact as early as possible in the project. Management wants to avoid risk events and needs to analyse the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?
CorrectIncorrect -
Question 225 of 295
225. Question
You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won’t affect your project much if they happen. What should you do with these identified risk events?
CorrectIncorrect -
Question 226 of 295
226. Question
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?
CorrectIncorrect -
Question 227 of 295
227. Question
You work as a project manager for BlueWell Inc. You are concerned with the risks on the project with the lack of allocation and detail on resource assignment. You want to create a visual diagram, which can depict the resources that will be used within the project. Which of the following diagrams will you create to accomplish the task?
CorrectIncorrect -
Question 228 of 295
228. Question
You work as a project manager for BlueWell Inc. You with your team are using a method or a (technical) process that conceives the risks even if all theoretically possible safety measures would be applied. One of your team member wants to know that what is a residual risk. What will you reply to your team member?
CorrectIncorrect -
Question 229 of 295
229. Question
You have just completed make-or-buy analysis, and you and your team make a “buy decision” for a sub-project of the project. Upon knowing this decision, your manager recommends that you give the sub-project to one of the companies that you have worked with many times because your organisation has always enjoyed a good relationship with this company; this company is very reputable. What should you do under the circumstances?
CorrectIncorrect -
Question 230 of 295
230. Question
Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?
CorrectIncorrect -
Question 231 of 295
231. Question
Which of the following contract types places the greatest risk on the seller
CorrectIncorrect -
Question 232 of 295
232. Question
A stakeholder wants to make a change to the work breakdown structure that does NOT affect the time, risk or cost of the project. What is the BEST thing to do?
CorrectIncorrect -
Question 233 of 295
233. Question
A vendor left you a voicemail saying your equipment will not be arriving on time. You identified a risk response for this risk and have arranged for a local company to lease you the needed equipment until yours arrives. This is an example of which risk response strategy?
CorrectIncorrect -
Question 234 of 295
234. Question
You are the project manager of the GHG project for your company. You have identified the project risks, completed qualitative and quantitative analysis, and created risk responses. You also need to document how and when risk audits will be performed in the project. Where will you define the frequency of risk audits?
CorrectIncorrect -
Question 235 of 295
235. Question
You work as the project manager for Bluewell Inc. Your project has several risks that will affect several stakeholder requirements. Which project management plan will define who will be available to share information on the project risks?
CorrectIncorrect -
Question 236 of 295
236. Question
A system development project is nearing project closing when a previously unidentified risk is discovered. This could potentially affect the project’s overall ability to deliver. What should be done NEXT?
CorrectIncorrect -
Question 237 of 295
237. Question
The term used to define a risk that is due to a catastrophe or a force of nature is considered:
CorrectIncorrect -
Question 238 of 295
238. Question
Regarding Delphi Technique all of the following statements are true except
CorrectIncorrect -
Question 239 of 295
239. Question
During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?
CorrectIncorrect -
Question 240 of 295
240. Question
The area where your project is taking place has experienced a high level of theft over the past month. The facility houses over $500,000 worth of equipment that is important to the project, and moving the equipment to a new location is not an option. Aside from a high-level alarm system, you also decide to purchase additional insurance to cover the equipment, should it get stolen. What type of risk is this?
CorrectIncorrect -
Question 241 of 295
241. Question
Which of the following statements is true regarding the issue logs?
CorrectIncorrect -
Question 242 of 295
242. Question
You are responsible for ensuring that your seller’s performance meets contractual requirements. For effective contract administration, you should:
CorrectIncorrect -
Question 243 of 295
243. Question
Amy is the project manager for her company. In her current project the organisation has a very low tolerance for risk events that will affect the project schedule. Management has asked Amy to consider the affect of all the risks on the project schedule. What approach can Amy take to create a bias against risks that will affect the schedule of the project?
CorrectIncorrect -
Question 244 of 295
244. Question
During which of the following processes is a probability and impact matrix prepared?
CorrectIncorrect -
Question 245 of 295
245. Question
You are holding a weekly status meeting with stakeholders and are going through the to-do list and a list of actions items from the previous meeting. Some of the stakeholders are completely unaware of these action items and start raising concerns about how they suddenly appeared. Upon further questioning you realise that these stakeholders were absent during the last meeting due to scheduling conflicts. Which of these statements would best describe what should have been done to prevent this misunderstanding?
CorrectIncorrect -
Question 246 of 295
246. Question
Which of the following is a primary source of risk identification gathering?
CorrectIncorrect -
Question 247 of 295
247. Question
You are finding it difficult to evaluate the exact cost impact of risks. You should evaluate on a(n):
CorrectIncorrect -
Question 248 of 295
248. Question
While conducting risk management planning, the project manager led the meeting participants, which included project team members and stakeholders, in a collaborative effort to break down the risk categories into subcategories. The end result was displayed as a hierarchical structure, containing the risk categories and subcategories. The project manager and meeting participants are utilising which of the following?
CorrectIncorrect -
Question 249 of 295
249. Question
You are the project manager of the NHH project for your company. You have completed the first round of risk management planning and have created four outputs of the risk response planning process. Which one of the following is NOT an output of the risk response planning?
CorrectIncorrect -
Question 250 of 295
250. Question
Which positive risk response best describes a teaming agreement?
CorrectIncorrect -
Question 251 of 295
251. Question
You produce risk management plan for the project on the basis of inputs such as project information, external factors, stakeholder inputs, and industry policies and procedures in order to define, fund, and staff effective risk management processes for the project that align with other project plans. What tool and technique have you used to develop this plan?
CorrectIncorrect -
Question 252 of 295
252. Question
While planning an end-user feedback event, the project manager became concerned that too many of the end-users invited to the event would show. More RSVPs were received than actual seats available. This was strategically planned, since a statistical percentage of individuals that RSVP do not show, but the project manager recognised that a risk did exist. While more end-user participants would be a benefit to the project, the project management team would need to be prepared to deal with the extra number of participants. What type of risk is this?
CorrectIncorrect -
Question 253 of 295
253. Question
What are workarounds in project risk management?
CorrectIncorrect -
Question 254 of 295
254. Question
During project execution, your project team delivers a project deliverable to the buyer. Your project team is happy as they have met the milestone but the buyer is not happy. The buyer refuses the deliverable as it does not meet the intended requirements as agreed when collecting requirements and then planning procurements. you review the documentation and find that the buyer is right. What is the BEST thing to do?
CorrectIncorrect -
Question 255 of 295
255. Question
Jeff, a key stakeholder in your project, wants to know how the risk exposure for the risk events is calculated during quantitative risk analysis. He is worried about the risk exposure which is too low for the events surrounding his project requirements. How is the risk exposure calculated?
CorrectIncorrect -
Question 256 of 295
256. Question
Negotiations between two parties are becoming complex, so party A makes some notes that both parties sign. However, when the work is being done, party B claims that they are not required to provide an item they both agreed to during negotiations, because it was not included in the subsequent contract. In this case, party B is:
CorrectIncorrect -
Question 257 of 295
257. Question
Which of the following tools and techniques shows the impacts of one decision over another as well as the probability and cost of each risk along a logical path?
CorrectIncorrect -
Question 258 of 295
258. Question
Which of the following is not part of a performance report?
CorrectIncorrect -
Question 259 of 295
259. Question
All of the following are parts of the team’s stakeholder management effort EXCEPT?
CorrectIncorrect -
Question 260 of 295
260. Question
You are the project manager of ABC project. Mid-way through the project a key component was stolen. This was not planned for. The team met after the event and managed to make the product work without the stolen component. This is an example of –
CorrectIncorrect -
Question 261 of 295
261. Question
A project manager has just received news that symptoms were discovered signalling that a high rating risk is about to occur. This risk had the potential of bringing failure to the entire project. Due to the level of impact this risk would have on the project, all stakeholders needed to be informed. What should the project manager do?
CorrectIncorrect -
Question 262 of 295
262. Question
A project manager has assembled the project team, identified 56 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested their assumptions and assessed the quality of the data used. The team is continuing to move through the risk management process. What has the project manager forgotten to do?
CorrectIncorrect -
Question 263 of 295
263. Question
Which of the following is not an input to manage stakeholder engagement?
CorrectIncorrect -
Question 264 of 295
264. Question
You have just been assigned as project manager for a large manufacturing project. This one-year project is about halfway done. It involves five different sellers and 20 members of your company on the project team. You want to quickly review where the project now stands. Which of the following reports would be the MOST helpful in finding such information?
CorrectIncorrect -
Question 265 of 295
265. Question
Management reserves are used to handle which type of risk?
CorrectIncorrect -
Question 266 of 295
266. Question
Which of the following processes looks at the complex web of actors, rules, conventions, processes, and mechanisms concerned with how relevant risk information is collected, analysed and communicated, and how management decisions are taken?
CorrectIncorrect -
Question 267 of 295
267. Question
You have been assigned to manage a project that deals with setting up a railway line connecting two cities. The project is complex with a lot of contracting involved. You and experts in your organisation are evaluating if the rail line alignment machinery should be purchased outright or if it would be better to lease. The cost of leasing the equipment is 1200 $ per day while the cost of an outright purchase is 96000 $ and a daily cost of 200 $.The duration of laying out the railway lines is scheduled to be an activity duration of 150 days. Should you purchase the machinery or be leased – which option would be more economical ?
CorrectIncorrect -
Question 268 of 295
268. Question
Which one of the following is the only output for the qualitative risk analysis process?
CorrectIncorrect -
Question 269 of 295
269. Question
Joan is the project manager of the BTT project for her company. She has worked with her project to create risk responses for both positive and negative risk events within the project. As a result of this process Joan needs to update the project document updates. She has updated the assumptions log as a result of the findings and risk responses, but what other documentation will need to be updated as an output of risk response planning?
CorrectIncorrect -
Question 270 of 295
270. Question
All of the following are processes within the Project Risk Management Knowledge Area EXCEPT:
CorrectIncorrect -
Question 271 of 295
271. Question
Tom is the project manager for his organisation. In his project he has recently finished the risk response planning. He tells his manager that he will now need to update the cost and schedule baselines. Why would the risk response planning cause Tom the need to update the cost and schedule baselines?
CorrectIncorrect -
Question 272 of 295
272. Question
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?
CorrectIncorrect -
Question 273 of 295
273. Question
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?
CorrectIncorrect -
Question 274 of 295
274. Question
A Work Breakdown Structure can be an important input to:
CorrectIncorrect -
Question 275 of 295
275. Question
All of the following strategies are tools and techniques of Risk Response Planning used to reduce or control risk except?
CorrectIncorrect -
Question 276 of 295
276. Question
A contingency plan is:
CorrectIncorrect -
Question 277 of 295
277. Question
Different or conflicting objectives among project stakeholders:
CorrectIncorrect -
Question 278 of 295
278. Question
Which of the following tools and techniques are used to support risk decision making?
CorrectIncorrect -
Question 279 of 295
279. Question
Examine the data.
A 0.55 -10,000
B 0.40 -65,000
C 0.30 -90,000
D 0.60 -25,000
E 0.45 -30,000
F 0.70 -245,000
What will be the expected monetary value of Risk A and B?CorrectIncorrect -
Question 280 of 295
280. Question
John is the project manager of the NHQ Project for his company. His project has 75 stakeholders, some of which are external to the organisation. John needs to make certain that he communicates about risk in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for John to communicate to the external stakeholders?
CorrectIncorrect -
Question 281 of 295
281. Question
You have successfully completed a project. You have now been assigned a project which is midway into its execution. You have had to take this project due to non availability of the current project manager due to health. This is a complex project involving multiple contractors and teams at various geographical locations. You decide to look up the requirements of the types of reports and frequency of sending them. Where would you find this information?
CorrectIncorrect -
Question 282 of 295
282. Question
All of the following are always inputs to the risk management process EXCEPT:
CorrectIncorrect -
Question 283 of 295
283. Question
You are managing a project constructing a bridge over a river. All of the risks have been identified and the design phase is just completed. The team is in its second week of actual construction. One of the subject matter experts reports that there is a possibility of the monsoons to be heavier this year. She points out that the load bearing plates earlier designed may have to be redesigned considering the additional water pressure expected because of additional rain water. What would be your best immediate course of action?
CorrectIncorrect -
Question 284 of 295
284. Question
Which possible parent level RBS category would Exchange Rates come under?
CorrectIncorrect -
Question 285 of 295
285. Question
You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants towards the project risk?
CorrectIncorrect -
Question 286 of 295
286. Question
You are managing the design and construction of a public water supply annex. Tests indicate contaminants in the water likely from your activities. You are told there is an extremely low risk for causing any sickness. As project manager, what should you do NEXT?
CorrectIncorrect -
Question 287 of 295
287. Question
Frank is discussing his project with a colleague and is describing his risk response strategy. He is happy that the risk response strategy is working well but is concerned that he has introduced some new risks to the project based on the strategy. What is Frank describing?
CorrectIncorrect -
Question 288 of 295
288. Question
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?
A. Influence/impact grid, grouping the stakeholders based on their active involvement (“influence”) in the project and their ability to affect changes to the project’s planning or execution (“impact”).CorrectIncorrect -
Question 289 of 295
289. Question
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?
CorrectIncorrect -
Question 290 of 295
290. Question
Risk are documented and periodically updated using some standard tools. Which of the following is a method that can be used?
CorrectIncorrect -
Question 291 of 295
291. Question
Jenny is the project manager of the NHJ Project for her company. She has identified several positive risk events within the project and she thinks these events can save the project time and money. You, a new team member wants to know that how many risk responses are available for a positive risk event. What will Jenny reply to you?
CorrectIncorrect -
Question 292 of 295
292. Question
Which of the following is associated with managing stakeholder engagement
CorrectIncorrect -
Question 293 of 295
293. Question
Which of the following is not part of a stakeholder register?
CorrectIncorrect -
Question 294 of 295
294. Question
Risk that is left over after the risk response plan is executed is called what?
CorrectIncorrect -
Question 295 of 295
295. Question
Risk that is introduced after the risk response plan is executed is called what?
CorrectIncorrect