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What should the risk manager do?
A risk manager is managing risks of a mission critical application. A subject matter expert (SME) asks the risk manager to treat every single risk identified as an extremely high priority . What should the risk manager do?A . Ask the project sponsor if every risk in the risk register...
What should the project manager do to evaluate and select the best option based on costs and probabilities?
A mega facility development project is evaluating some options to achieve the project schedule and budget. Each option's success is driven by multiple quantifiable factors. What should the project manager do to evaluate and select the best option based on costs and probabilities?A . Perform a FMECA fault tree analysisB...
What process is this part of?
A project manager is working on a complex construction project. During the risk identification process, hundreds of risks were identified. The team seems to be confused regarding on which risks to focus. The project manager advises the team to go ahead and start assessing the likelihood and impact of each...
When presenting their work to management, on what areas should the risk manager focus?
A risk manager is confident that they have identified and quantified the risks and opportunities for a project. When presenting their work to management, on what areas should the risk manager focus? (Choose two.)A . Risks that are tied to the success of the organizationB . Risks as they apply...
What does this result imply?
The project manager performed' a variance analysis on the project during the execution phase. The variances were shown as increasing What does this result imply?A . The uncertainty and risk are increasing.B . The project schedule is lagging behind.C . There is no potential for future deviation.D . The project...
What two factors does the risk manager need to consider to ensure an effective risk management plan is developed?
A risk manager of a major project facilitates a meeting to develop the risk management plan . What two factors does the risk manager need to consider to ensure an effective risk management plan is developed? (Choose two.)A . Applying modern risk management techniques.B . Aligning to project constraints and...
What is the total contingency budget that should be created?
As per the risk analysis process carried out for a project, two risks are registered. The probability risk A will occur is 40% and its monetary impact to the project is US$100,000. The probability risk B will occur is 60% and its monetary impact to the project is US$20,000 ....
What should the risk manager do to handle this situation?
During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk. What should the risk manager do to handle this situation?A . Revisit this risk in the risk register and redefine the mitigation...
How should a risk manager increase stakeholder risk appetite?
Project stakeholders can often be risk averse with little to no knowledge of the risk process . How should a risk manager increase stakeholder risk appetite?A . Exclude risk averse stakeholders from future risk discussionsB . Explain risk handling and mitigation strategiesC . Increase the impact of all risks in...
With several different historical project files to choose from, which two pieces of information should the project manager include in their risk checklist?
A project manager is identifying risks on a project and decides to use a risk checklist to gather historical data accumulated from similar projects. With several different historical project files to choose from, which two pieces of information should the project manager include in their risk checklist? (Choose two.)A ....
