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A risk manager assessed all project risks, and the team is now identifying common groupings of risks. What tool or technique is used to perform this risk assessment?

A Risk breakdown structure (RBS)
B Risk probability and impact assessment
C Risk register
D Risk identification checklist

A risk manager documents the causes in the risk register and needs to ensure the risk is adequately described. What is critical for the risk manager to consider when describing the causes?

A Each cause has well defined owner
B The causes represent actual conditions
C Each cause has a degree of uncertainty
D The causes must be validated by the risk owner

The risk manager is currently performing the monitoring and reporting process. Which of the following is an input for schedule metrics?

A Work breakdown structure
B Risk breakdown structure
C Critical path method
D Organizational breakdown structure

The project manager generates a monthly risk report for key stakeholders which documents high and medium risk items only. Where would the project manager find the list of recipients for the report?

A Communications management plan
B Risk management plan
C Risk register
D Project charter

The risk manager is documenting the results of the Monitor Risks process to add them to the lessons learned database.
A ) Effectiveness of risk response
B ) Unexpected or undocumented risks which occur

C ) Relevant risk data -

D ) Management reserve report -
Which of the following should be included?

A A, B, C
B A, C, D
C B, C, D
D A, B, D

The project manager asks the risk manager to determine the initial risk assessment for a six month conduct the related analysis? (Choose two.)

A Configuration management plan
B Brainstorming
C Project organizational chart
D Monte Carlo analysis
E Work breakdown structure (WBS)

A risk manager on an infrastructure project gathers and analyzes performance data. The risk manager wants to identify which variables will impact the schedule and determine how these factors interact.

Which data analysis tool should the risk manager use to forecast future performance?

A Regression analysis
B What-if scenario analysis
C Sensitivity analysis
D Decision tree analysis

A risk manager schedules a project overview meeting with the project sponsor to provide an update on risk management progress. Each functional lead is identifying the most critical information to be presented at an executive level. The information must balance communicating essential information with actions and recommendations.
What risk information should be communicated to the project sponsor?

A Significant risks and issues and their planned responses
B Risk matrix showing the distribution of high, medium, and low risks
C Results of the last project risk brainstorming session
D Summary feedback from the previous risk audit

After years of experience, a project manager becomes the lead manager for a company. This new lead manager asks all project managers to use a specific technique when they perform qualitative risk analysis on their projects. This technique consists of achieving the relative weighting of the project's objectives in terms of priority to the stakeholders.
What is the name of this technique?

A Relative Weighting of the objectives of Stakeholders (RWS)
B Objectives Stakeholders Weighting (OSW)
C Quantitative Weighted Analysis (QWA)
D Analytic Hierarchy Process (AHP)

Which of the following should the risk manager consider as external environmental factors when creating the risk management plan?

A Government regulations, industry best practice templates, organizational standard processes, and competitor landscape
B Government regulations, industry standards, conditions of the marketplace, and competitor landscape
C Government regulations, risk categories, organizational standard processes, and competitor landscape
D Government regulations, human resource policies and procedures, organizational standard processes, and competitor landscape

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The project manager has asked for the P50 estimate for the project schedule. What is the P50 estimate?

A 75 days
B 73.5 days
C 73 days
D 72.5 days

The project manager needs to create a risk management plan for a high risk project, but the company's senior management does not see value in spending time documenting major risks instead of leading the project. What is the most appropriate action for the project manager to take first?

A Develop a risk register and present it to the senior management.
B Hire a risk consultant to identify the major risks.
C Develop a risk management plan and present it to the sponsor.
D Document all identified risks.

What is the purpose of mitigating negative risks as a part of the risk response process?

A To transfer the probability of a risk happening to a third party, and to reduce the severity of the impact
B To reduce the probability of a risk happening, and/or reduce the severity of the impact
C To accept the probability of a risk happening to reduce the severity of the impact
D To increase the probability of a risk happening, but reduce the severity of the impact

A risk on the risk register is triggered. This triggered risk costs US$200,000 to mitigate and will overwhelm the project, causing it to fail if not mitigated. The project manager identifies that there is US$200,000 left in the management reserve.
From which of the following sources should the funds be drawn to cover the risk mitigation?

A Organization management reserve
B Unplanned risk reserve
C Contingency reserve
D Management reserve

The risk manager is about to go on medical leave, but before departing, conducts a risk response planning review meeting with stakeholders. A new risk manager is assigned to the project, and during the first status meeting an issue is identified.
What is the appropriate course of action in this case?

A Perform a project review.
B Perform a risk reserve analysis.
C Implement an action plan to resolve the issue.
D Delegate to the action owner.

A mobile operator wants to test a new network prototype before conducting full implementation on the entire network. What type of risk response strategy did the mobile operator choose?

A Transfer
B Mitigate
C Avoid
D Accept

The team has just completed a risk response planning session and identified responses for all the high and medium priority risks. What should the team do with the remaining low priority risks?

A Create risk responses later, as time allows.
B Add the risks to a watchlist for periodic monitoring.
C Remove the risks from the risk register.
D Conduct a low priority risk response planning workshop with key stakeholders.

Which of the following represents the best description of the role of project manager for project risk management?

A Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the risk management, assessing the impact of proposed scope changes
B Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the project management plan, participating in all aspects of the project risk management process
C Approving the risk management plan, participating in all aspects of the project risk management process, auditing the risk management processes in the project
D Determining the acceptable levels of risk for the project in consultation with stakeholders, approving the risk management plan, participating in all aspects of the project risk management process

During what process should a project manager assign a risk owner?

A Plan Risk Responses
B Plan Risk Management
C Monitor Risks
D Identify Risks

PESTLE, TECOP, and SPECTRUM are three examples of prompt lists that can be used during risk management activities. Prompt lists are used to do which of the following?

A Simulate risk identification.
B Perform a simulation with all prompted risks varying simultaneously.
C Identify basic causes of risks of more fundamental forces.
D Achieve the relative weighting of the risks.

A project in the execution phase at the customer's site has an issue concerning new parts that do not fit properly into a machine. The site project manager cannot find this high probability risk in the risk register.
What action should the site project manager take?

A Variance analysis
B Workaround
C Risk assessment
D Risk audit

The project manager is unable to obtain a global consensus of competing subject matter experts and stakeholders on the project scope. This has caused a one- month delay.
What should the project manager do next to reduce further delay?

A Initiate a scope change request.
B Schedule a project kick-off meeting.
C Schedule a stakeholder meeting.
D Engage the project sponsor/portfolio manager.

Within the organizational process assets, where would the project manager find risk response effectiveness from past projects?

A Change management plan and lessons learned
B Stakeholder register and lessons learned
C Risk audit and lessons learned
D Risk audit and risk matrix

After a risk review meeting, three key risks are identified as likely to be realized. The project manager requests a risk scenario be calculated to establish the impact on the budget.
What is the forecasting methodology that should be utilized to calculate the impact?

A Estimate to complete (ETC)
B Budget at completion (BAC)
C Estimate risk completion (ERC)
D Estimate at completion (EAC)

A heavy industrial design firm has over USS3 billion in current contract value. As a result of quantitative risk analysis of a geographically separated project, opportunities have been identified and assessed as high priorities for the project.
What is the most effective method to capture these opportunities?

A Integrate them into the RBS.
B Schedule a project team meeting.
C Formally notify the project manager.
D Establish a contingency reserve.

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