PMP Questions ID 4169 you are constructing a probability and impact matrix for your project which of the following sta

Select two

The probability and impact matrix multiplies the risk's probability by the cost of the impact to determine an expected value of the risk event.

The probability and impact matrix multiplies the risk's probability by the risk impact—which both fall between 0.0 and 1.0—and uses a predetermined threshold to determine the overall score.

The probability and impact matrix uses sensitivity analysis to analyze the potential impact of risk events and to determine which event has the greatest potential for impact.

The probability and impact matrix prioritizes the combination of probability and impact scores using predetermined thresholds that are set by the organization, which helps determine which risks need response plans.

Your hardware vendor left you a voicemail saying that a snowstorm in the Midwest might prevent your equipment from arriving on time and they are watching the weather closely. She wanted to give you a heads-up and asked that you return the call. Which of the following statements is true?

You've identified a risk event on your current project that could save $500,000 in project costs if it occurs. Your organization is considering hiring a consulting firm to help establish proper project management techniques in order to ensure it realizes these savings. Which of the following is true based on this statement?

Select one

This is a risk event that should be accepted because the rewards outweigh the threat to the project.

This risk event is an opportunity to the project and should be exploited.

This risk event should be mitigated to take advantage of the savings.

This is a risk event that should be shared to take full advantage of the potential savings.

Select one

This is a risk event that should be accepted because the rewards outweigh the threat to the project.

This risk event is an opportunity to the project and should be exploited.

This risk event should be mitigated to take advantage of the savings.

This is a risk event that should be avoided to take full advantage of the potential savings.

Select one

Decrease the risk of rework

Produce accurate requirements in a faster timeframe than in a predictive methodology

Increase knowledge among cross-functional team members, which helps them understand and manage risks

Reduce risk and maximize business delivery

All of the above

New PMP Question & Answers with explanation