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NO.58 Mary is the project manager for the BLB project. She has instructed the project team to assemble, to review the risks. She has included the schedule management plan as an input for the quantitative risk analysis process. Why is the schedule management plan needed for quantitative risk analysis?

NO.59 SIMULATION
Fill in the blank with an appropriate phrase. The _________ is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied

NO.60 You are the project manager of the NNN project for your company. You and the project team are working together to plan the risk responses for the project. You feel that the team has successfully completed the risk response planning and now you must initiate what risk process it is. Which of the following risk processes is repeated after the plan risk responses to determine if the overall project risk has been satisfactorily decreased?

NO.61 Which types of project tends to have more well-understood risks?

NO.62 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.

NO.63 A pharmaceutical company undertakes a new, year-long research and development (R&D) project. The company pursues high margins on investments and an aggressive growth strategy. They maintain a central program management office (PMO) to assist with new projects and record data on past project performance.
The company leadership regularly makes decisions regarding the full suite of company projects and requires comparative data and reports. Project leadership is well-versed in risk management and the PMO requires full documentation of project management artifacts.
Based on the characteristics of this new project, which of the following best describes the risk strategy for the project?

NO.64 The project manager requests a method to analyze risk data in a simple format. Which of the following formats should the risk manager suggest for preliminary review of the data?

NO.65 Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?

NO.66 Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy’s organization will receive a bonus of $80,000 per day that the project is completed early up to $800,000. Tracy realizes that there are several opportunities within the project to save on time by crashing the project work. Crashing the project is what type of risk response?

NO.67 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?

NO.68 A project is In the initiation phase. The project stakeholders are Invited to a meeting to share their thoughts that may impact the project In a positive or negative way.
What will be the main output of this meeting?

NO.69 Holly is the project manager of the NHQ project for her company. Her project sponsor, Tracy, has requested that Thomas, the department manager, from the Risk Management Department, will work with Holly to determine the effectiveness of the risk responses. Tracy and Thomas are concerned that some of the risks within Holly’s project may not be addressed to depth they would like. In this scenario, who is responsible for ensuring that risk audits are performed at an appropriate frequency throughout the project?

NO.70 Project stakeholders can often be risk averse with little to no knowledge of the risk process. How should a risk manager increase stakeholder risk appetite?

NO.71 The risk manager organizes a stakeholder meeting to obtain agreement on project risk response strategies. At the conclusion of this meeting, the risk response strategies should be which of the following?

NO.72 During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?

NO.73 You are the project manager of the GGG project. You have completed the risk identification process for the initial phases of your project. As you begin to document the risk events in the risk register what additional information can you associate with the identified risk events?

NO.74 During the initial risk planning process, the risk manager and project manager discuss ways to handle known risks. Which project reserve should the project manager use to budget for known risks?

NO.75 You are the project manager of the NNH Project. In this project you have created a contingency response that the schedule performance index should be less than 0.93. The NHH Project has a budget at completion of $945,000 and is 45 percent complete though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What is the project’s schedule performance index?

NO.76 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?

NO.77 SIMULATION
Fill in the blank with an appropriate phrase.
________is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of a model.

NO.78 During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customers electrical infrastructure. This event was not originally identified as a risk.
To maintain the project schedule, the project manager decides to purchase a new power adapter.
What type of response best describes this course of action?

NO.79 A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asks the risk manager to treat every single risk identified as an extremely high priority.
What should the risk manager do?

NO.80 A project manager wants to represent the distribution of uncertainty around a risk model element. However, good data on the variability, of the risk model element has not been collected, and only contains minimum and maximum values.
What curve should the project manager use to represent the distribution?

NO.81 A project manager works on a long-term and high visibility project at an organization that has a low risk appetite towards this project due to its impact on the company’s business. The project sponsors follow up weekly with the project manager, who was just informed by one of the risk owners that the exposure from two high-impact risks are hitting the risk thresholds.
What should the project manager do next?