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What type of risk is this?
A project manager is working on a construction project. Based on past experience, the project manager identifies a risk that a supplier of a critical material may not deliver on time. The project manager has already accounted for this risk in the risk management plan. If this risk materializes, the...
Which response should the risk manager take?
The project director and project manager have met with the board and determined that the project has depleted the entire contingency reserve and has started eroding the profit margin. The project manager would like the risk manager to take full advantage of opportunities. Which response should the risk manager take?A...
Where should the project manager find this information?
A project manager is trying to realize benefits from new material on an adaptive project. This is the first time the project team is using the material so the team does not have information to identify and analyze risks. A team member informs the project manager that a local university...
What should the risk manager do?
Members of a project team are not taking their risk management responsibilities seriously. They do not consider risk management as primary to the project’s success and do not believe that the benefits are significant. What should the risk manager do?A . Schedule a meeting to review and develop realistic risk...
What should the risk manager do to increase the number of opportunities identified?
The risk manager notices that in their workshops, most of the risks identified are threats . What should the risk manager do to increase the number of opportunities identified?A . Use the Delphi technique involving experts who have identified opportunities in the pastB . Interview more stakeholders who have a...
How should the risk manager interpret such a low CPI value?
A two-year project with a budget of US$2 million has completed about 60% of the work at the end of the first year. The actual cost incurred to complete the remaining 40% of work is about USS 1. 5 million. As a part of performing a specialized risk analysis, the...
A new risk manager is assigned to an ongoing project, what should the new risk manager do first to assess the project environment?
A new risk manager is assigned to an ongoing project, what should the new risk manager do first to assess the project environment?A . Review potential next steps with the project team.B . Review the scope of work to determine the prescribed project methodology.C . Review the policies and practices...
Which risk identification technique should the risk manager use?
A project manager has requested a risk manager facilitate risk identification on a project. While facilitating this effort, the project manager wants to ensure that stakeholders interact and provide their expertise so that an exhaustive list of risks is created . Which risk identification technique should the risk manager use?A...
How should the project manager address this concern?
Several key stakeholders approach the project manager with concerns. The stakeholders have received feedback from local businesses that have reported a reduction in customers because of construction activities at the worksite, and they plan to submit a claim to the municipality to fine the project manager's company. How should the...
What should the risk manager do with this risk?
A risk manager is managing risks in a project. During the initial stages of project execution, a new risk is identified. There is a very small chance that this risk will occur and even if it occurs, the impact would be low. What should the risk manager do with this...
