PMP Questions ID 4173 you work for a large manufacturing plant you are working on a new project to release an overseas

You work for a large manufacturing plant. You are working on a new project to release an overseas product line. This is the company's first experience in the overseas market, and it wants to make a big splash with the introduction of this product. The stakeholders are a bit nervous about the project and historically proceed cautiously and take a considerable amount of time to examine information before making a final decision. The project entails producing your product in a concentrated formula and packaging it in smaller containers than the U.S. product uses. A new machine is needed to mix the ingredients into a concentrated formula. After speaking with one of your stakeholders, you discover that this will be the first machine your organization has purchased from your new supplier. Which of the following statements is true given the information in this question?

Select one

The question describes risk threshold levels of the stakeholders, which should be considered when performing the Plan Risk Management process.

This question describes risk urgency, which should be considered when performing the Plan Risk Management process.

This question describes risk triggers that are derived using interviewing techniques and recorded in the risk register during the Perform Qualitative Risk Analysis process.

This question describes a risk that requires a response strategy from the positive risk category.

Risk attitude is an enterprise environmental factor that you should evaluate when performing the Plan Risk Management process. Risk attitude consists of which of the following elements?

Your hardware vendor left you a voicemail saying that a snowstorm in the Midwest will prevent your equipment from arriving on time. You identified a risk response strategy for this risk and have arranged for a local company to lease you the needed equipment until yours arrives. This is an example of which risk response strategy?

Select three

Monte Carlo analysis is the preferred method to use to determine the cost risk.

Monte Carlo analysis is a simulation technique that computes project costs one time.

A traditional work breakdown structure can be used as an input variable for the cost analysis.

Monte Carlo usually expresses its results as probability distributions of possible costs.

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 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.

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.

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