98 New PMP Risk Questions & Answers with explanation
11.
A project manager is currently in the process of prioritizing individual project risks by assessing their detectability, proximity, and impact value. The project manager would like to create a graphical representation of these three dimensions. What is the best course of action?
Select one
12.
A previously unknown risk surfaces on a project and creates an issue that is estimated to cost $50,000. The project manager submits a change request to adjust the schedule baseline and uses the already approved contingency reserves to address the cost. What did the project manager do wrong?
Select one
13.
You are establishing the relative priorities of individual project risks that have been identified earlier in the project. Which of the following tasks are you least likely to perform?
Select one
14.
A project manager is facilitating a first brainstorming session to identify individual risks as well as sources of overall project risk. The meeting attendees are struggling with the task, and the meeting is becoming unproductive. What action might the project manager take to get the meeting back on track?
Select one
15.
During a recession, a project manager posts a positive risk that in the current economic environment, cheaper resources may become available. On the way into work, the project manager hears about a competitor going out of business and contacts the competitor to acquire some equipment, materials, and supplies at a fraction of their normal value. What is the project manager doing?
Select one
16.
A project manager notifies the project sponsor that the mitigation strategy for a major risk did not work. The sponsor states that the same risk response was implemented a few months ago on a similar project with the same result. How might this situation have been avoided?
Select one
17.
A project manager has just learned that the customer is not showing up to requirements meetings saying they have other more important tasks. Since this behavior has already been identified as a risk earlier in the project, the project manager escalates the issue to the stakeholder who is the risk owner responsible for communicating with the customer in such situations. The stakeholder is shocked to find out she is the assigned risk owner. What most likely went wrong?
Select one
18.
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
19.
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
20.
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