PMP Questions ID 2368 with a parking garage construction project underway you are currently creating the risk manageme

With a parking garage construction project underway, you are currently creating the risk management plan. In support of this process, you need to determine the acceptable level of overall project risk exposure. What should you do first?

Select one

Develop a set of responses to individual project risks to mitigate overall project risk

Facilitate a brainstorming meeting to develop a comprehensive list of project risks

Consult the risk exposure register within the organizational process assets

Determine the risk appetites of key project stakeholders

A project team performs monthly risk audits for a project in which a large number of identified risks have been realized. So far, the risk responses have been appropriate, and reserves are sufficient. An executive for the requesting organization chides the project manager for doing risk audits improperly, stating that like all audits, outside independent resources need to perform risk audits. How should the project manager respond?

Select one

Explain that if the current risk audits are not sufficient, then a comprehensive project audit should be carried out

Explain that risk audits can be performed either internally or externally as long as they follow the project management plan

Agree with the executive and submit a change request to update the project management plan to have the audits conducted externally

Follow the guidance provided by the executive and hire a team of external auditors to conduct the risk audits going forward

Your risk report shows that project risk exposure overall has grown close to a negative threshold. Before the next regular meeting, you ask risk owners to present any risks and opportunities that may affect short-term activities. In the meeting, it becomes clear that risk owners from less engaged departments did not implement some of the previously approved responses. What should you do now to reduce risk exposure?

Select one

Submit a change request to exploit an opportunity that potentially makes up for the undone risk responses

Reassign the risk ownership to team members who are in departments that are more engaged in the project

Escalate the issue by calling a meeting with the risk owners and their managers to discuss disciplinary measures

Privately confront the risk owners with the issue and collaborate to remove any impediments to the risk responses

Your project team has recently identified a risk in the software development project and decided not to change the project management plan to deal with the risk. The risk response strategy that your team used in this scenario is an example of:

Jen works as a project manager for the National Weather Agency. She is managing a project designed to assess the effect of climate change on northern mountains. The initial study established a two months’ delay for the testing equipment to reach mountains due to road construction. However, a recent assessment has indicated a significantly shorter delay because of rapid progress in construction. To deal with the shorter delay, which of the following steps should Jen take next?

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