Question 1

A project manager is assigned to a new project and is told they need to develop the project's risk register. When should the project manager identify the project risks?

Options :

A : Identify risks only at the project's midpoint for the stakeholders to review them

B : Ensure project team members proactively identify risks throughout the project to plan for possible response strategies

C : Identify risks at the beginning of the project because the risk posture will not change

D : Delegate risk identification to each team member and have them record the risks on separate risk registers for their areas

Answer: B

Question 2

A project manager wants to introduce a new technology to improve a project's performance. However, there are some costs associated that are beyond the current budget, and the proposed technology has not been applied to any previous company projects. What should the project manager do in this situation?

Options :

A : Escalate this initiative to project decision makers and sponsors.

B : Accept the fact that there is a risk associated with this new technology.

C : Take advantage of this opportunity of Improving the project performance.

D : Outsource the implementation of the new technology as soon as possible.

Answer: C

Question 3

An IT project is 40% complete. During the initial analysis, risks A and B were identified for the project. Risk A has a probability of 0.6 and an impact of US$50.000. Risk B has a probability of 0.7 and an impact of USS60.000. After implementing the planned risk response for risk B. the probability of risk B has been reduced is 0.3. What is the current project risk exposure?

Options :

A : US$18,000

B : US$72.000

C : US$30,000

D : US$48,000

Answer: B

Question 4

A risk manager is integrated into a team overseeing a crucial software development project. During the information gathering phase, the risk manager notices significant weaknesses in the maturity of the risk management process. The team needs to establish a more structured approach to managing risks, including the documentation of strategies, ownership structures, and details about the organization's project risk baseline. What should the risk manager do?

Options :

A : Prioritize the risk management plan.

B : Arrange the risk mitigation plan.

C : Create a risk action plan with risk owners.

D : Prioritize the risk register.

Answer: A

Question 5

A risk manager is confident that they have identified and quantified the risks and opportunities for a project. When presenting their work to management, on what areas should the risk manager focus? (Choose two.)

Options :

A : Risks that are tied to the success of the organization

B : Risks as they apply to the organization's overall risk management philosophy and strategic ambition

C : Huge opportunities that possibly bring an additional 30% return for 10 projects in the next year

D : Risks related to cost that will impact the major projects that are currently in the execution phase

E : Risk mitigation actions that will require work from stakeholders

Answer: A,B

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