Question 1

During a project's planning phase, the project team identifies a potential supplier delay and marks it as a significant risk. A risk manager is tasked with effectively monitoring this risk. What should the risk manager document as the risk trigger?

Options :

A : The probability and impact rating of the supplier's delay on the project

B : The response strategy, such as increasing inventory or finding an alternative supplier

C : The specific event or condition, such as the supplier missing a delivery deadline

D : The threshold for acceptable delay, such as a maximum of three days before impacting project milestones

Answer: C

Question 2

it typically takes 5 hours to perform a complete home inspection. If there are unforeseen risk factors, it can take up to 7 hours to finish the inspection. The earliest the project team has ever finished an inspection is in 3 hours. Using the project evaluation and review technique (PERT) to estimate duration how many hours should the project manager plan to schedule the task taking into account all the positive and negative risk factors?

Options :

A : 4 hours

B : 5 hours

C : 6 hours

D : 12 hours

Answer: B

Question 3

A risk manager manages risks in a construction project. A stakeholder mentions that if there is less than a 50% chance of rain, construction should continue. Another stakeholder says that if there is less than a 60% chance of rain, construction should continue. What should the risk manager do next to find out the correct limit?

Options :

A : Review the agreed-upon risk tolerance

B : Perform a sensitivity analysis of the risk

C : Find out the stakeholders’ risk appetite

D : Use industry standard risk thresholds

Answer: A

Question 4

A risk manager for a cross-functional project is initiating the risk identification process. The risk manager conducted some meetings for stakeholders to express their concerns, but some stakeholders are complaining that their opinions were not considered. How should the risk manager address these concerns?

Options :

A : Refer to the requirements documentation to confirm stakeholder requirements as they relate to risks.

B : Refer to the project charter to find guidelines and stakeholder communication channels.

C : Review the stakeholder register and stakeholder engagement plan to communicate and solicit stakeholder input.

D : Rewrite the risk register to include the additional possible risks and inform the stakeholders.

Answer: C

Question 5

A project team does not understand why a very low probability risk occurred during project execution. The team was especially vigilant about planning for this type of risk during the risk planning phase. The project has been delayed by 2 months, and the stakeholders are considering canceling the project. The risk manager needs to demonstrate that the project can be concluded. Which analysis should the risk manager perform to demonstrate this to the stakeholders'?

Options :

A : Monte Carlo analysis

B : Pareto analysis

C : Ishikawa analysis

D : Qualitative risk analysis

Answer: A

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