PMP Questions ID 1860 decision tree analysis is used to calculate the average outcome when the future includes scenario

Decision tree analysis is used to calculate the average outcome when the future includes scenarios that may or may not happen. What are a decision node’s inputs and outputs?

Select one

Input: Cost of each decision; Output: Decision made

Input: Scenario probability; Output: Expected Monetary Value (EMV)

Input: Cost of each decision; Output: Probability of occurrence

Input: Cost of each decision; Output: Payoff

A project manager is considering risk in a project. When does risk come into play in a project?

Select one

During the SWOT (strengths, weaknesses, opportunities, and threats) analysis

During the Identify Risks phase

As soon as the Plan Risk Management phase begins

As soon as a project is conceived

Acceptance is a strategy adopted because it is not possible to eliminate all risks from a project. This strategy indicates that the project management team has decided not to change the project management plan to deal with a risk. What action does passive acceptance require?

Select one

Passive acceptance is no longer adopted in projects and is a poor project management practice.

Passive acceptance requires no action except to document the strategy and come up with a risk management strategy.

Passive acceptance requires no action.

Passive acceptance requires no proactive action except periodic review of the threat.

The Identify Risks process involves determining which risks may impact a project. It is considered an iterative process. What is the frequency of the iteration?

Select one

Every month

Every two weeks

The frequency of iteration will vary based on the situation

Every week

As part of a strategy to handle negative risk, a project manager decided to adopt less complex processes, conduct more tests, and choose a more stable supplier. What strategy would this be classified as?

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