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NO.51 When approving the risk contingency budget for a project, the CEO notices each team has a different approach to report risks and their impacts. The CEO decides to create a new centralized risk management function to help resolve the problem.
How does centralizing the risk management function help resolve the problem?

Enhance the process of identification of different Individual project risks.

Allows monitoring the impact against the overall project risk exposure.

Establishes risk sources and ownership for trigger monitoring.

Creates a single repository for all project risk documents.

NO.52 During the design phase the project team is exploring various architecture options. After reviewing the results of design pilot, two conflicting infrastructure pieces were identified.
What action should the project manager take?

Reassess the design for the two pieces.

Escalate the situation and request approval to move forward.

Confirm the results through a second pilot.

Update the assumptions log and assess the risk associated with it.

NO.53 The risk manager is facilitating risk planning activities with the team. The team is documenting all the check points along the way that might indicate delays on critical deliverables.
What is this an example of?

Risk responses

Risk triggers

Risk registers

Risk categories

NO.54 The Project Risk Management knowledge area focuses on which of the following processes? Each correct answer represents a complete solution. Choose all that apply.

Quantitative Risk Analysis

Risk Monitoring and Control

Potential Risk Monitoring

Risk Management Planning

NO.55 The project manager asks the risk manager to determine the initial risk assessment for a six month initiative that is about to kick-off. Which two artifacts will help the risk manager conduct the related analysis? (Choose two.)

Work breakdown structure (W&S)

Project organizational chart

Configuration management plan

브레인스토밍

Monte Carlo analysis

NO.56 A risk manager for a financial organization is assigned to support a project team in developing a custom software solution to manage loans. Which document should the risk manager request first from the project sponsor to identify major risks?

위험 관리 계획

Clients’ credit scores

Organization’s mission and vision

Historical data from the credit portfolio

설명
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, the risk manager should request the risk management plan first from the project sponsor to identify major risks. This is because:
The risk management plan is a document that describes how risk management activities will be planned, structured, and performed throughout the project life cycle. The risk management plan provides guidance and direction for the risk manager and the project team on how to identify, analyze, prioritize, respond, and monitor risks, as well as how to allocate resources, define roles and responsibilities, establish risk categories, and document risk-related information.
The risk management plan is a key input for the risk identification process, which is the process of determining which risks may affect the project and documenting their characteristics. The risk identification process involves using various tools and techniques, such as brainstorming, interviews, checklists, assumptions and constraints analysis, SWOT analysis, expert judgment, and data gathering, to generate a comprehensive list of potential risks that may impact the project objectives, such as scope, schedule, cost, quality, or stakeholder satisfaction.
The risk management plan helps the risk manager to identify major risks by providing the following information:
The risk management strategy, which defines the approach and methodology for managing risks, including the level of detail, rigor, and frequency of the risk management activities, and the alignment with the project management plan and the organization’s policies and procedures.
The risk thresholds, which specify the acceptable level of risk exposure for the project and its objectives, based on the risk appetite, tolerance, and attitude of the project sponsor and other key stakeholders.
The risk categories, which are a group of potential causes of risk that can be used to structure and organize the identified risks into a hierarchical structure, such as a risk breakdown structure (RBS). The risk categories can be derived from various sources, such as the project scope statement, the work breakdown structure (WBS), the organizational process assets, or the industry standards and practices.
The roles and responsibilities, which define the authority and accountability of the project team members and other stakeholders involved in the risk management process, such as the risk manager, the risk owner, the risk committee, the risk auditor, and the risk reviewer.
The resources, which specify the budget, time, and human resources allocated for the risk management process, as well as the tools, techniques, and software applications that will be used to support the risk management activities.
The communication and reporting, which describe the type, format, content, frequency, and distribution of the risk-related information and reports that will be shared among the project team and other stakeholders, such as the risk register, the risk report, the risk dashboard, and the risk audit report.
The other options are not the best documents to request first from the project sponsor to identify major risks because:
The clients’ credit scores are a specific type of data that can be used to assess the credit risk of the loans, but they do not provide a comprehensive view of all the potential risks that may affect the project, such as technical, operational, legal, regulatory, or market risks.
The organization’s mission and vision are high-level statements that describe the purpose, values, and goals of the organization, but they do not provide specific guidance or direction on how to manage risks for the project, such as the risk management strategy, methodology, or tools.
The historical data from the credit portfolio are a source of information that can be used to analyze the past performance and trends of the loans, but they do not reflect the current or future uncertainties and opportunities that may impact the project, such as changes in customer behavior, technology, competition, or regulation.
참조:
PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
Risk Management Professional (PMI-RMP) Exam Cert Guide2

NO.57 Examine the figure given below. What will be the expected monetary value of Risk C?

-$113,750

$175,000 if the risk event actually happens

-$175,000

-$27,000

NO.58 Ted is the project manager of the HRR project for his company. Management has asked that Ted periodically reviews the contingency reserve as risk events happen, pass, or are still pending.
What is the purpose of reviewing the contingency reserve?

It helps to evaluate if the remaining reserve is adequate for the risk exposure.

It helps to determine how much more funds will need to be invested in the project.

It helps to evaluate secondary and residual risks related to the risk responses and their costs.

It helps to determine the probability and impact of project risks.

NO.59 In a large enablement project with strict time lines, risks need to be closely monitored. The risk manager publishes reports comparing planned enablement sessions with actual enablement sessions, which help identify potential risks to be addressed.
Which technique is the risk manager using?

Variance analysis

Residual impact analysis

Sensitivity analysis

Reserve analysis

NO.60 Which of the following is an effective channel for risk mitigation assistance, project risk visibility and risk escalation support?

Project steering committee

Project management office (PMO)

Change control board (CCB)

Board of directors

NO.61 You are the project manager of the AMD project for your organization. In this project, you are currently performing quantitative risk analysis. The tool and technique you are using is simulation where the project model is computed many times with the input values chosen at random for each iteration. The goal is to create a probability distribution from the iterations for the project schedule.
What technique will you use with this simulation?

Pareto modeling

Expected Monetary Value

Analogous modeling

Monte Carlo Technique

NO.62 A project manager is creating a risk management plan. The project sponsor does not see the need for additional risk management, believing that the only risks to the project are financial risks.
What procedure could the project manager use to identify other potential topics such as technical, quality, performance, project, management, internal and external risks?

Review enterprise environmental factors.

Perform Monte Carlo analysis and Delphi technique.

Perform decision tree analysis and create an Ishikawa diagram.

Use existing prompt lists and risk breakdown structure.

NO.63 You work as the project manager for Bluewell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decide, with your stakeholders’ approval, to fast track the project work to get the project done faster. When you fast track the project, what is likely to increase?

위험

비용

Quality control concerns

Human resource needs

NO.64 You work as a project manager for TechSoft Inc. You, the project team, and the key project stakeholders have completed a round of quantitative risk analysis. You now need to update the risk register with your findings so that you can communicate the risk results to the project stakeholders – including management. You will need to update all of the following information except for which one?

Probabilistic analysis of the project

Probability of achieving cost and time objectives

Risk distributions within the project schedule

Trends in quantitative risk analysis

NO.65 When conducting a risk identification exercise, what two actions should the risk manager take? (Choose two.)

Request a contingency reserve from management

Arrange a team meeting, review the project’s scope, and discuss dependency mapping

Ensure participants review relevant documents before attending the meeting

Ensure that all the relevant stakeholders participate

Update the risk register during the team meeting.

설명
According to the PMBOK Guide, one of the tools and techniques for the identify risks process is data gathering. Data gathering is the process of collecting information from various sources to identify potential risks that may affect the project objectives. Some of the data gathering techniques are brainstorming, interviews, checklists, assumption and constraint analysis, and document analysis1. To conduct a risk identification exercise using data gathering techniques, the risk manager should take the following actions:
Arrange a team meeting, review the project’s scope, and discuss dependency mapping. This action can help the risk manager to facilitate a brainstorming session with the project team and other subject matter experts, where they can generate a list of potential risks based on the project scope and the dependencies among the project activities. Dependency mapping is a technique that helps to identify the relationships and interdependencies among the project components, such as tasks, resources, deliverables, and stakeholders2. By reviewing the project scope and discussing the dependency mapping, the risk manager can ensure that the risk identification exercise covers all the relevant aspects of the project and does not miss any important risk sources.
Ensure that all the relevant stakeholders participate. This action can help the risk manager to obtain different perspectives and insights from the stakeholders who have different roles, interests, and expectations in the project. Stakeholders are individuals or groups who can affect or be affected by the project outcomes. They may have valuable information, experience, or expertise that can help to identify potential risks that may not be obvious to the project team. By ensuring that all the relevant stakeholders participate in the risk identification exercise, the risk manager can increase the comprehensiveness and accuracy of the risk identification process and foster stakeholder engagement and buy-in1. References:
PMBOK Guide, 6th edition, pages 397-399, 414-4151; Mastering the PMI Risk Management Professional (PMI-RMP) Exam, page 70

NO.66 Your project spans the entire organization. You would like to assess the risk of the project but are worried that some of the managers involved in the project could affect the outcome of any risk identification meeting. Your worry is based on the fact that some employees would not want to publicly identify risk events that could make their supervisors look bad. You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?

Delphi technique

Isolated pilot groups

SWOT 분석

근본 원인 분석

NO.67 The risk manager is prioritizing risks based on the potential impact to cost and schedule and identifies the following 4 risks:
Risk 1 has a US$500,000 potential cost increase, and a 60 day potential schedule slippage, with a 25% probability of occurring Risk 2 has a US$200,000 potential cost increase, and a 20 day potential schedule slippage, with a 60% probability of occurring Risk 3 has a US$1,200,000 potential cost increase, and a 90 day potential schedule slippage, with a 10% probability of occurring Risk 4 has @ US$600,000 potential cost increase, and a 70 day potential schedule slippage, with a 20% probability of occurring Using expected monetary value calculation, which risk has the greatest potential impact to cost and schedule?

Risk 1

Risk 2

Risk 3

Risk 4

NO.68 A well established project begins to experience cost overruns and falls behind schedule. The project risk register identifies many risks and risk response plans in place, yet many risks are transitioning into issues. As the risks occur and become issues, many of the response plans are in progress, but not complete. The data from this graph represents the status of the project risks.

Based on this information, what improvement to the risk management process is required?

Increase the project risk identification and analysis.

Improve the risk analysis to better define root causes.

Transition to an issue management program and close the remaining open risks.

Review remaining risk response plans and invest in schedule quality improvements.

NO.69 Wendy is about to perform qualitative risk analysis on the identified risks within her project. Which one of the following will NOT help Wendy to perform this project management activity?

Project scope statement

위험 관리 계획

위험 등록

Stakeholder register

NO.70 You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?

Mitigation management plan

Mitigation plan

Fallback plan

Risk response plan

NO.71 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?

Mitigate

수락

전송

익스플로잇

NO.72 A project lihat was in the execution phase for the last six months was put on hold and was eventually cancelled after numerous scope related challenges. It was decided to re-plan the scope and divide the project into multiple projects to have better insight into end objectives. As part of the project start up. the project manager is developing the risk planning for the project.
What three artifacts should the project manager consult or review during this process? (Choose three.)

Project contracts

Lessons learned registers from analogous projects

위험 등록

위험 관리 계획

Code of regulations

설명
The project manager should consult or review project contracts, lessons learned registers from analogous projects, and the risk management plan to develop an effective risk planning for the project.
According to the PMBOK Guide, the risk management plan is one of the key inputs for the plan risk management process, which is the first process in the project risk management knowledge area. The risk management plan describes how risk management activities will be structured and performed throughout the project. It includes information such as the methodology, roles and responsibilities, budget, timing, risk categories, definitions of risk probability and impact, probability and impact matrix, revised stakeholders’ risk tolerances, reporting formats, and tracking (page 409). Therefore, option D is the correct answer.
The project contracts are also an important input for the plan risk management process, as they may contain terms and conditions that can create or affect various project risks. For example, contracts may include clauses related to penalties, incentives, warranties, intellectual property rights, termination, force majeure, arbitration, indemnification, etc. The project manager should review the project contracts to identify any potential sources of risk and plan appropriate responses (page 410). Therefore, option A is the correct answer.
The lessons learned registers from analogous projects are another valuable input for the plan risk management process, as they provide historical information and knowledge that can help the project manager identify and analyze risks, as well as plan risk responses. The lessons learned registers may contain information such as the risks that occurred, the root causes of the risks, the risk triggers, the effectiveness of the risk responses, the residual and secondary risks, the risk owners, the risk ratings, the risk trends, etc. The project manager should consult the lessons learned registers from similar or comparable projects to learn from past experiences and avoid repeating mistakes (page 411). Therefore, option B is the correct answer.
The risk register is not an input for the plan risk management process, but an output. The risk register is a document that contains the list of identified risks, their causes, potential responses, and other relevant information. The risk register is created during the identify risks process, which is the second process in the project risk management knowledge area. The risk register is then updated and refined throughout the project as more information becomes available and new risks emerge (page 414). Therefore, option C is incorrect.
The code of regulations is not an input for the plan risk management process, but a type of enterprise environmental factor. Enterprise environmental factors are the conditions, not under the control of the project team, that influence, constrain, or direct the project. The code of regulations refers to the rules and standards that govern the project’s industry, domain, or sector. The code of regulations may affect the project’s scope, schedule, cost, quality, resources, communications, procurement, and risk management. The project manager should consider the code of regulations when planning risk management activities, but it is not an artifact that needs to be reviewed or consulted (page 38). Therefore, option E is incorrect.
References: PMBOK Guide, pages 38, 409-411, 4141

NO.73 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?

US$20.000 loss

US$20,000 profit

US$40,000 loss

US$100,000 profit

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