You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example of what risk response?
A. Transference
B. Acceptance
C. Mitigation
D. Sharing
Lamont is the project manager of a project that has recently finished the final project deliverables. The project customer has signed off on the project deliverable and Lamont has a few administrative closure activities to complete. In the project, there were several large risks that could have wrecked the project but Lamont and his project team found some creative methods to resolve the risks without affecting the project costs or project end date. What should Lamont do with the risk responses he identified during the project's monitoring and controlling process?
A. Include the risk response in the project risk management plan.
B. Include the responses in the project management plan.
C. Nothing. The risk responses are included in the project's risk register already.
D. Include the risk responses in the organization's lessons learned database.
Harold is the project manager of a large project in his organization. He has been actively communicating and working with the project stakeholders. One of the outputs of the manage stakeholder expectations process can actually create new risk events for Harold's project. Which output of the manage stakeholder expectations process can create risks?
A. Project document updates
B. Change requests
C. Organizational process assets updates
D. Project management plan updates
Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified a supplier who can create stained glass windows for 1,000 window units in the construction project. The supplier is an artist who works by himself, but creates windows for several companies throughout the United States. Management reviews the proposal to use this supplier and while they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units in time for the project's deadline. Management asked Harry to find a supplier who can fulfill the completion of the windows by the needed date in the schedule. What risk response has management asked Harry to implement?
A. Mitigation
B. Acceptance
C. Avoidance
D. Transference
Rob is the project manager of the IDLK Project for his company. This project has a budget of $5,600,000 and is expected to last 18 months. Rob has learned that a new law may affect how the project is allowed to proceed - even though the organization has already invested over $750,000 in the project. What risk response is the most appropriate for this instance?
A. Acceptance
B. Transference
C. Mitigation
D. Enhance
Joan is a project management consultant and she has been hired by a firm to help them identify risk events within the project. Joan would first like to examine the project documents including the plans, assumptions lists, project files, and contracts. What key thing will help Joan to discover risks within the review of the project documents?
A. The project documents will help the project manager, or Joan, to identify what risk identification approach is best to pursue.
B. Lack of consistency between the plans and the project requirements and assumptions can be the indicators of risk in the project.
C. Poorly written requirements will reveal inconsistencies in the project plans and documents.
D. Plans that have loose definitions of terms and disconnected approaches will reveal risks.
Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was a cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?
A. Don would because he is the project manager.
B. Jerry would because of the contract type.
C. Don would because of the contract type.
D. Jerry would because he is the hired contractor.
There are five inputs to the quantitative risk analysis process. Which one of the following is NOT an input to the perform quantitative risk analysis process?
A. Risk register
B. Risk management plan
C. Cost management plan
D. Enterprise environmental factors
You are the project manager for your organization. You have determined that an activity is too dangerous to complete internally so you hire licensed contractor to complete the work. The contractor, however, may not complete the assigned work on time which could cause delays in subsequent work beginning. This is an example of what type of risk event?
A. Internal
B. Secondary risk
C. Pure risk
D. Transference
You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your project with your project team. How many risk responses are available for a positive risk event in the project?
A. Three
B. Four
C. Seven
D. One
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