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 project's design has been completed and approved on time. The construction subcontractor should be mobilizing to start construction but does not have the necessary materials in place, causing a delaying in the project. The risk register only contains risks for the design phase of the project. What should the project manager have done differently?

Options :

A : Executed the Monte Carlo sensitivity analysis prior to mobilization

B : Added generic construction risks to the risk register before construction began

C : Reviewed the assumptions/exclusions register in the project charter

D : Performed risk identification exercises for the full lifecycle of the project

Answer: D

Question 4

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

Question 5

A project has a S0S4 chance of a US$100 000 profit and a 40% chance of a US$100,000 loss. What is the expected monetary value for this project?

Options :

A : US$20.000 loss

B : US$20,000 profit

C : US$40,000 loss

D : US$100,000 profit

Answer: B

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