Question 1

An organization faces immense competition in the market and decides 10 accelerate a key project. What is the first action for the project risk manager to take?

Options :

A : Ensure sufficient resources are available

B : Revise the risk management plan

C : Update the risk register

D : Meet with the project's stakeholders

Answer: B

Question 2

A project to deploy a new technology in field offices across the country has just been initiated. Some stakeholders are not supportive of this project because their teams will potentially be impacted by staff reductions once the technology is implemented. How should the risk manager address this concern?

Options :

A : Invite these stakeholders to regular meetings to engage them in the definition of project assumptions.

B : Identify new stakeholders who might replace those involved thus far and are more closely aligned to the project goals.

C : Review the risk thresholds to potentially accommodate the concerns raised by these stakeholders.

D : Perform a stakeholder analysis to determine their interests and how they should be taken into account.

Answer: D

Question 3

A new project to develop a custom software solution for a high-profile client is being initiated. The project sponsor emphasizes the importance of delivering the solution on time and within budget, as this project could lead to significant future opportunities. The risk manager recognizes that the team lacks a standardized approach to managing risks and that some team members are unfamiliar with risk management practices. What should the risk manager do?

Options :

A : Ask the sponsor to define the risk strategy to align with client needs.

B : Develop a framework and engage the team in creating a risk plan.

C : Train the team on basic techniques and defer the risk strategy for later.

D : Concentrate on high-priority risks to meet the sponsor's expectations.

Answer: B

Question 4

A project manager realizes the team undertaking the project work has fallen behind the planned schedule. The risk manager identifies a new risk resulting from this delay and will need to understand how this will affect the project deadline. Which kind of numerical analysis should be performed to understand the worst-case scenarios?

Options :

A : Earned value analysis

B : Qualitative risk analysis

C : Sensitivity analysis

D : Root cause analysis

Answer: C

Question 5

The project manager and the risk manager of a new project to develop an application to support autonomous driving are meeting with the sponsor and key stakeholders to discuss the project. During the meeting, it is identified that the transport authority is discussing new traffic regulations for the industry that could be in place before the project ends. How should the project manager and the risk manager handle this situation?

Options :

A : Ensure the project complies with the current traffic regulations and laws.

B : Send a letter to the traffic authority with the general project information.

C : Perform inquiries on the website of the traffic authority weekly.

D : Meet with the traffic authority staff in charge of the new regulation.

Answer: D

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