Question 1

During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk. What should the risk manager do to handle this situation?

Options :

A : Revisit this risk in the risk register and redefine the mitigation strategy.

B : Activate the contingency plan to handle this risk during execution.

C : Mark this new risk as an extremely high priority and inform all stakeholders.

D : Ask the project sponsor for more budget to deal with this risk.

Answer: C

Question 2

An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?

Options :

A : Ensure sufficient resources are available

B : Revise the risk management plan

C : Update the risk register

D : Meet with the project's stakeholders

Answer: B

Question 3

A company manages confidential customer information, and a data breach exposing sensitive information was discovered. What should the risk manager do?

Options :

A : Execute the security risks contingency plan.

B : Get a report of customers affected by the risk.

C : Identify residual and secondary risks.

D : Coordinate a response with the risk owner.

Answer: D

Question 4

When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

Options :

A : Request a contingency reserve from management

B : Arrange a team meeting, review the project's scope, and discuss dependency mapping

C : Ensure participants review relevant documents before attending the meeting

D : Ensure that all the relevant stakeholders participate

E : Update the risk register during the team meeting.

Answer: B,D

Question 5

An experienced and the only developer on a software implementation project will be on leave for several weeks. The risk of this critical resource's availability was added to the risk register. Contingencies were made for a support developer to job shadow this resource, depending on how things go prior to their leave. The project team was pleased with the backup plan and the new resource was able to shadow for a few weeks. What should the risk manager do next?

Options :

A : Update the risk register to indicate the risk has occurred and close out the expired risk from the register.

B : Update, continuously monitor, and communicate the residual and secondary risks of the backup resource on the project.

C : Hire a permanent developer to support the project, and work with the backup resource to eliminate this risk.

D : Hire another developer to support the project, contingent on when the experienced developer returns.

Answer: B

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