You have started gathering documents you need to implement a planned response to a realized risk. You need a document that will provide summary information on identified risks, as well as an assessment of the current project risk exposure. What is the input document you need?

A project manager is preparing for a meeting to identify risks associated with the project. As part of the preparations, the project manager is looking for a document that captures a comprehensive list of factors that could either benefit or constrain the project Which of the following would help the project manager the most?

The risk management plan for the project stipulates that the project holds risk review meetings weekly. Which of the following are you least likely to do during these meetings?

A team member is working on a project activity where the outcome did not go as planned, but this outcome was expected as a possibility. Which of the following should the team member consult to know what to do next?

At a planning meeting with the stakeholders, an executive requested to see a top-down representation of all types of uncertainty for the project. Which of the following should the project manager use to categorize sources of project uncertainties to address the executive's request?

A project manager is leading an infrastructure development project and is just starting the process of prioritizing individual project risks for further analysis.  A stakeholder has expressed concern that the existing information about individual project risks may not be accurate and reliable. What is the best course of action?

The project keeps running into similar errors. The project manager is surprised, as she had plans in place to mitigate these errors. What is most likely the root cause of these errors?

You and your project team have recently discovered a negative risk to the project and determined that it could result in a loss of S50,000 if it occurs. You have also determined that the probability of this risk occurring is 50%. What is the expected monetary value for this risk?

A software development project is running behind schedule because the velocity of the project team has been slowed down by a higher than anticipated complexity of the technology used to develop the product. To bring the project back into alignment with its objectives, the project manager implements the planned response by fast tracking some of the testing activities. What should the project manager do next?

A project manager is in the process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness.  Which of the following is least likely to be updated as a result of this process?

As a project manager, you will need the assistance of other stakeholders in order to identify the risks associated with your project. You want to determine who are the individuals that might participate in the process of identifying risks to the project, as well as those who are available to act as risk owners. Where should you look?

During project planning, the project manager involves the product owner and scrum team in the Plan Risk Responses process. A critical product feature is under discussion, and no one is certain that the feature can even be developed given the current technology. The project manager adds this risk to the risk register and indicates it as exit criteria in the project charter. What is the best risk response strategy to deal with this threat?

Halfway into a software development project, your most experienced programmer resigns leaving only two programmers. The previously planned response to this risk is to acquire a programmer from another project manager, with whom you are not well acquainted.  What is the best way for you to handle this situation?

As a project manager, you are in the process of prioritizing individual project risks. The project team has just completed a probability and impact matrix, and you have decided to consider other characteristics of risk when prioritizing individual project risks. What should you do next?

A project is chartered to install an IT data center in a foreign country where the political climate is highly unstable. To address the threat to the data center due to the political instability, the project manager has negotiated with the U.S. State Department to establish the data center in a high-security basement of the U.S. Consulate.  This is an example of:

A project you are leading is approaching its end. One of the risk management subject matter experts assigned to the project calls you and recommends a change to the Implement Risk Responses process. What should you do first?

A project manager is leading a new product development project. During project execution, the competitive advantage of this new product is threatened when another company is first to market with a similar product. This risk had been identified during initial planning and placed on a watch list. What should the project manager do next?

The risk report shows that project risk exposure 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. At 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?

Your team has finished identifying risks for your project and is now analyzing the quality of risk data. What should be done next?

On a project where drywall work is about to be performed, the weather forecast suggests that it will be too cold for the drywall mud to dry properly. The risk response plan calls for the use of large portable propane heaters to maintain the required temperature. You want to find out how successful this response was on previous projects. What should you do?

While identifying risks, you learn that one of the selected vendors may not be as stable as you had initially thought. Therefore, you create a list of backup suppliers and plan a risk response that involves hiring one of the alternate suppliers. During the project execution, you received notice that the selected vendor has just filed for bankruptcy and will not deliver as contracted. What process will be used next to keep your project on track and all stakeholders satisfied?

As part of the planning process, the project manager conducts a meeting with some of the key stakeholders. The purpose of the meeting is to identify the risks associated with the new project. The meeting is highly productive with all members making valuable contributions. At the conclusion of the meeting, a list of risks and potential risk owners has been identified. Where should the project manager capture this information?

Early in project planning, your team identified increases in the cost of raw materials as a project risk. Due to a recent natural disaster, raw material costs are expected to quadruple. You had originally set aside a contingency reserve to account for some cost variance. However, after analyzing current prices, you are uncertain if that contingency reserve will be sufficient. What technique should you use to evaluate this uncertainty?

You are leading an infrastructure development project, which is about halfway complete. In accordance with the risk management plan, you hold regular risk review meetings. Which of the following are you least likely to do during this meeting?

Your project is behind schedule. To get the project back on track, you implemented the previously planned risk response of crashing the schedule. With the project back on schedule, you and your team perform a variance analysis to compare the planned risk response to the actual impact on the schedule and cost. What have you and your team produced as the result of this analysis?

A website refresh was supposed to be released in tandem with another project's deliverable. However, that deliverable is now three weeks behind schedule. The risk response plan was updated a few months ago to address this possibility, though some project team members now feel that the delay does not impact the website refresh as once thought.  What is the best course of action for the website refresh project team?

You are trying to decide on a way to implement a company-wide initiative. A proposed solution costs S120 million but has a 60% chance of saving $200 million and a 40% chance of saving only $90 million. What does $36 million represent?

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?

A construction site is located in an earthquake-prone area. After spending considerable time discussing and analyzing this risk, the team agreed that the best way to deal with this risk was to build an earthquake-resistant foundation using a high-grade concrete. However, several weeks into construction, the project manager learns that this special type of concrete was never ordered, even though the risk response was documented in the risk register. The project will now have to be suspended. What most likely went wrong?

You have just been named project manager for a new company initiative. The project sponsor asks you to provide a few ways that the work can be carried out based on your understanding of the key deliverable. Meanwhile, the project sponsor is working on completing the project charter. In order to prepare your proposals, you would like to be aware of project risks that may have already been identified. Which of the following would be the best document to reference?