A. That are deliberately accepted
B. That remain after planned responses are implemented
C. Other risks in the risk register
D. Unplanned risks
Answer choices:
1. A and B
2. B and C
3. C and D
4. D and A
182) You are planning to invite a famous jazz band to your company for an indoor campus event. You decide to mitigate the risk of disturbing employees in the building by hosting the event in the auditorium which is mostly sound proof. But employees can still hear some of the music. This is an example of:
A. Secondary risk
B. Residual risk
C. Minor risk
D. Negligible risk
183) Communication in a project refers to communication between:
a. Project manager and stakeholders
b. Project manager and team members
c. Project team members
Answer choices:
1. All of the above
2. A and B
3. B and C
4. A and C
184) Implementing risk responses, tracking identified risks, and monitoring residual risks is part of:
A. Identify risks
B. Control risks
C. Perform risk analysis
D. Plan risk responses
185) You are planning to host an event for your customers at one of your company’ buildings. Depending on the attendance, parking could become an issue. You hire a valet service to help with parking on event day. Your risk response strategy is:
A. Accept
B. Mitigate
C. Exploit
D. Transfer
186) You decided to train two team members A and B (keeping A as primary and B as secondary resource/back up) in an attempt to mitigate the risk of resources leaving the project hence risking the deliverables. A and B become equally knowledgeable and deliver their parts well. You are few days before going live and decide to retire the ‘Risk of resources leaving’. This is done in:
A. Identify risks
B. Control risks
C. Perform risk analysis
D. Plan risk responses
187) Team member A is a senior member who leads the design. Team member B is another design team member. If A leaves the project, you are at a risk of delaying/not delivering your project. Hence you ask A to prepare training documents and train B (still keeping A as the lead resource and B as the secondary resource). As you anticipated, resource A leaves half-way through the project. You ask B to take up A’s role and lead the design. As part of controlling risks, you have implemented the:
A. Fall-back plan
B. Risk plan
C. Contingency plan
D. Project management plan
188) Which of the below is true about a watch list?
A. Part of the risk register
B. Captures low priority risks that don’t have to be tracked closely
C. Has risks that shouldn’t be missed
D. Have low probability and impact
Answer choices:
1. All of the above
2. None of the above
3. A
4. C
189) Which of the below compares the amount of the contingency reserves remaining to
the amount of risk remaining at any time in the project in order to determine if the remaining reserve is adequate?
A. Reserve analysis
B. Deviation
C. Technical Performance Measurement
D. Variance and Trend Analysis
190) Responses that were not initially planned, but are required to deal with emerging risks that were previously unidentified or accepted passively are called:
A. Workarounds
B. contingency plans
C. Fall-back plans
D. Deviation
191) Which of the following is not a threat response techniques?
A. Exploit
B. Mitigate
C. Accept
D. Transfer
192) Which of the following is not an opportunity response technique?
A. Exploit
B. Enhance
C. Accept
D. Transfer
193) Project manager A manages a project that has team members spread across the world. What style of communication should he adopt with his team members?
a. Communicate only through emails so there is no misunderstanding
b. Base his communication on the cultural backgrounds of the team members and the context
c. Adapt his communication based on the team members’ personalities
d. Directive. It is always best to be direct and not worry about how each person might understand his statements
Answer choices:
1. None of the above
2. A and B
3. B and C
4. A and C
194) Henry is a project manager on a garment manufacturing project. Due to machinery problems, the project is facing issues. But Henry thinks he is covered because he purchased insurance to cover the cost of overruns due to machinery problems. Henry has used which of the following risk strategies?
A. Exploit
B. Transfer
C. Accept
D. Avoid
195) During your team meeting, your team members come up with suggestions on potential design changes from what was originally designed to help stakeholders better analyze the data. Which of the below are not risk strategies to deal with this opportunity?
A. Exploit
B. Enhance
C. Accept
D. Avoid
196) You maintain your project’s risks in a risk register along with owners and responses. You hold a weekly status meeting with your team. How often should the risks be reviewed?
A. Weekly
B. Daily
C. Monthly
D. If an issue arises
197) Which of the following will not be present in the risk register?
A. Planned risk responses
B. Watch list
C. EMV calculations
D. Risk responses
198) Which of the following are true about Monte Carlo analysis is:
A. It is a risk analysis tool
B. It runs simulations to compute a project model
C. Input values are chosen at random for each iteration from the probability distributions of input variables
D. A histogram is calculated from the iterations
Answer choices:
1. A, B
2. B, C
3. C, A
4. All of the above
199) You are managing a wedding decoration project. Your flower supplier has told you at the last minute that he will not be able to provide you the lilies as planned. This is not a risk you anticipated. What is your best course of action now?
A. Talk to the customer to see if they will accept tulips in place of lilies
B. Find another flower supplier who can provide lilies
C. Check the risk register
D. Contact the flower supplier and demand that he find lilies somehow
200) Your offshore team tells you that a team event has been planned and that the team members will not be working that day. You discuss options to minimize delay to project deliverables but decide that there is no way to decrease impact to project. This risk response strategy is called:
A. Avoid
B. Accept
C. Mitigate
D. Share
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