A senior project manager advises a first-time project manager that identifying risks is just one step. On a continuous basis, new risks need to be identified, and existing risks need to be analyzed, tracked and their status reported. All this is done as part of what process?
A. Direct and Manage Project Work
B. Monitor and Control Project Work
C. Perform Integrated Change Control
D. Plan Risk Management
You have just learned that your project’s sole equipment supplier has gone out of business. This is an unanticipated risk, and will cause a delay in the project until a new vendor can be selected and contracts put in place. What do you do?
A. Continue working on non critical path tasks.
B. Put out on RFP for new vendors.
C. Notify the project stakeholders.
D. Consult with legal counsel.
As part of risk planning, some responses are designed for use only if certain events occur. A project manager of a multi-year project decided to trigger one such set of responses during the Monitor Risks process. Which of the following is likely to have triggered the responses?
A. Late receipt of status reports
B. A key employee going on vacation for three days.
C. Errors found in a deliverable document
D. Missing an intermediate milestone
Your project is nearing completion, but a previously unidentified risk has been discovered and it could significantly affect one of the project deliverables. What do you do?
A. Transfer the risk.
B. Develop a risk mitigation plan.
C. Include the issue in the project risk log.
D. Notify the project stakeholders immediately.
The project management team expects that during the course of the project, there could be delays in component delivery due to strikes, changes to the permitting processes or extensions of specific engineering durations. What analysis will help come up with contingency and response plans to mitigate these?
A. Contingency analysis
B. Variance analysis
C. What-If scenario analysis.
D. Schedule compression
You are the project manager for a project and have just entered the third year of a scheduled four year project. You need to evaluate new risks that have emerged since the project began. What should you perform to provide this information?
A. Variance and trend analysis
B. Process Improvement Plan
C. Risk audit
D. Risk re-assessment
__________ is performed on risks that have been prioritized by the Perform Qualitative Risk Analysis process as potentially and substantially impacting the project.
A. Perform Risk Cost Analysis
B. Perform Risk Exposure Analysis
C. Perform Quantitative Risk Analysis
D. Perform Risk Outcome Analysis