01. A new risk manager has been hired on a project and meets with the project director. The project director supplies the project's risk register and asks the risk manager for an analysis of its effectiveness.
What two actions should the risk manager do next?
(Choose two.)
a) Check to ensure that the risk is supported by a Monte Carlo simulation.
b) Check for risk classification and that probability and impact are identified.
c) Check to ensure that the risks are gathered using Delphi technique.
d) Check to ensure the risk meeting agenda and supporting documents are distributed.
e) Check to ensure that risk origin, triggering event, and ownership is identified.
02. After starting a new pipeline project, a risk manager schedules an initial meeting with the project sponsor. For the meeting, the project sponsor requests a presentation of the risks that have the most impact on achieving the project objectives.
What should the risk manager do to facilitate the sponsor's ask?
a) Qualitative risk analysis
b) Sensitivity analysis
c) Quantitative risk analysis
d) Monte Carlo analysis
03. Ian and his team are in the process of updating relevant project documents. Which of the following risks should be closed out as expired?
a) A risk where the risk response is avoid; however, the risk trigger has not yet occurred
b) A risk that has been mitigated so probability and impact are greatly reduced, but the risk is still present
c) A risk arises due to the risk response to another risk
d) A risk where the risk response exploit has been successfully applied
04. Ian has identified some risks and documented them in the risk register.
When assessing the impact of residual and secondary risks, which is most important?
a) The project manager can do it.
b) It can be done in a few hours as it must be repeated throughout the project’s lifetime.
c) It works in Scrum.
d) It is done on project objectives.
05. Pete and his team are in the process of gathering and analyzing performance data.
They want to monitor impacts against overall project risk exposure, but whom would be affected?
a) The value streams
b) The project
c) The program
d) The enterprise
06. Some years ago, an oil platform burned in the Gulf of Mexico and there was a risk that oil would pollute the sea. Various chemicals were used to avoid this. However, it turned out that these chemicals might also damage the sea.
What kind of risk is this?
a) High-impact risk
b) Residual risk
c) Secondary risk
d) Unknown risk
07. Tommy, the agile Scrum product owner, has selected a risk response strategy where he works with a partner who provides more resources, which should increase the probability of the risk.
What strategy is this?
a) Exploit
b) Transfer
c) Escalate
d) Share
08. When Ian and his team are updating relevant project documents with aggregated and summarized risk data, who or what is the least likely source of data?
a) Sponsor
b) Work performance information
c) Work performance data
d) Project team
09. Trevor and his team are monitoring project risk levels for a major IT project with many high-ranking key stakeholders of a certain age and from across the world. In that process they prepare reports for different stakeholders.
Which report best represents the needs of the stakeholders?
a) Short and overview format for all key stakeholders as they are busy people
b) Standardized and available on a collaborative platform
c) Comprehensive and detailed for all key stakeholders
d) Tailored for each key stakeholder
10. When dealing with the planning of risk responses, which of the following tasks is the least important?
a) Allocate responsibilities within the team
b) Reevaluate organizational risks
c) Outline an appropriate responsibility matrix for a metricized project environment
d) Illustrate and communicate the effectiveness of the risk response strategies