You are the project manager of the BlueStar project in your company. Your company is structured as a functional organization and you report to the functional manager that you are ready to move onto the qualitative risk analysis process. What will you need as inputs for the qualitative risk analysis of the project in this scenario?
A. Qualitative risk analysis does not happen through the project manager in a functional structure.
B. You will need the risk register, risk management plan, project scope statement, and any relevant organizational process assets.
C. You will need the risk register, risk management plan, outputs of qualitative risk analysis, and any relevant organizational process assets.
D. You will need the risk register, risk management plan, permission from the functional manager, and any relevant organizational process assets.
You are the project manager for the NHH project. You are working with your project team to examine the project from four different defined perspectives to increase the breadth of identified risks by including internally generated risks. What risk identification approach are you using in this example?
A. Root cause analysis
B. SWOT analysis
C. Influence diagramming techniques
D. Assumptions analysis
Jeff works as a project manager for BlueWell Inc. He is determining which risks can affect the project. Which of the following are the inputs to the identify risks process that Jeff will use to accomplish the task? Each correct answer represents a complete solution. Choose all that apply.
A. Scope baseline
B. Activity cost estimates
C. Risk register
D. Risk management plan
Ben works as a project manager for the MJH Project. In this project, Ben is preparing to identify stakeholders so he can communicate project requirements, status, and risks. Ben has elected to use a salience model as part of his stakeholder identification process. Which of the following activities best describes a salience model?
A. Influence/impact grid, grouping the stakeholders based on their active involvement ("influence") in the project and their ability to affect changes to the project's planning or execution ("impact").
B. Grouping the stakeholders based on their level of authority ("power") and their active involvement ("influence") in the project.
C. Grouping the stakeholders based on their level of authority ("power") and their level or concern ("interest") regarding the project outcomes.
D. Describing classes of stakeholders based on their power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate).
Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?
A. The quantitative risk analysis process will review risk events for their probability and impact on the project objectives.
B. The quantitative risk analysis seeks to determine the true cost of each identified risk event and the probability of each risk event to determine the risk exposure.
C. The quantitative risk analysis process will analyze the effect of risk events that may substantially impact the project's competing demands.
D. The quantitative risk analysis reviews the results of risk identification and prepares the project for risk response management.
____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
A. Expert judgment
B. Expected monetary value
C. Sensitivity
D. Modeling and simulation
Todd is the project manager of the EST project for his company. His organization has established certain rules in the enterprise environmental factors which affect the approach that Todd takes in managing his project. One of the rules requires Todd to consider the risk attitude of the stakeholders participating in risk analysis. Why must risk attitude be considered as a part of risk analysis?
A. Risk attitude can affect the measurement of probability and impact.
B. Risk attitude can establish a stakeholder's influence over project decisions.
C. Risk attitude identifies stakeholders that are hygiene seekers or motivation seekers.
D. Risk attitude establishes stakeholders as positive or negative stakeholders.
The risk manager wants to determine what is to be measured, how it is to be measured, and what project outcomes are to be measured. In which of the following processes should this be established?
A. Initiating Process
B. Executing Process
C. Planning Process
D. Monitoring and Controlling Process
You work as the project manager for Bluewell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decide, with your stakeholders' approval, to fast track the project work to get the project done faster. When you fast track the project, what is likely to increase?
A. Risks
B. Costs
C. Quality control concerns
D. Human resource needs
What quantitative tools and techniques are used to perform risk analysis in order to support stakeholder decision making for the project?
A. Risk probability and impact assessment
B. Sensitivity analysis
C. Interviewing
D. Probability and impact matrix
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