NO.72 Your project is an agricultural-based project that deals with plant irrigation systems. You have discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?

NO.73 A risk manager is assigned to a new system deployment project with a strict contractually agreed-on schedule.
One of the key risks identified is the availability of experts because many are shared on other strategic projects in the organization.
What should the risk manager do to address this situation?

NO.74 A company has a project whose objective is to extract gold reserves from Field 1. However, another field closest to the company. Field 2, which has a higher probability of having twice as much gold reserves than Field 1. The risk manager requests the board of Directors to include Field 2 under the scope of the current project by management of change because the project’s profitability will increase by 80%.
What type of request is the risk manager describing?

NO.75 During project execution, the project team realizes that the power outlet for imported equipment is not compatible with the current customers electrical infrastructure. This event was not originally identified as a risk. To maintain the project schedule, the project manager decides to purchase a new power adapter.
What type of response best describes this course of action?

NO.76 Eric is the project manager of the MTC project for his company. In this project a vendor has offered Eric a sizeable discount on all hardware if his order total for the project is more than $125,000. Right now, Eric is likely to spend $118,000 with vendor. If Eric spends $7,000 his cost savings for the project will be $12,500, but he cannot purchase hardware if he cannot implement the hardware immediately due to organizational policies.
Eric consults with Amy and Allen, other project managers in the organization, and asks if she needs any hardware for their projects. Both Amy and Allen need hardware and they agree to purchase the hardware through Eric’s relationship with the vendor. What positive risk response has happened in this instance?

NO.77 Consider a project with a budget at completion of $1,345,000 and it is supposed to be completed by today, but it is only 80 percent complete. This project has spent $1,250,000 to reach this point of completion.
What is the schedule variance for this project?

NO.78 You are the project manager of a large construction project. You are evaluating the strengths, weaknesses, opportunities, and threats involved in a project. In which of the following processes are you on?

NO.79 The project sponsor asks the project manager about the accuracy of the project dat a. The project manager realizes that some risks have not been updated recently.
What should the project manager do regarding those risks?

NO.80 You are the project manager of the NKJ Project for your company. The project’s success or failure will have a significant impact on your organization’s profitability for the coming year. Management has asked you to identify the risk events and communicate the event’s probability and impact as early as possible in the project.
Management wants to avoid risk events and needs to analyze the cost-benefits of each risk event in this project. What term is assigned to the low-level of stakeholder tolerance in this project?

NO.81 What identification technique is used to help reduce the ambiguity of a risk statement?

NO.82 The project manager of a project in trouble actively participates in a project risk assessment. After the assessment is complete, the project manager receives the final results.
What is the best recommended action to be taken from this point onward?

NO.83 An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities, and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats.
What should the risk manager do next?

NO.84 An organization that spans across different countries undergoes a digital transformation project. The project manager has assigned a risk management team leader who is a risk management certified candidate in their domain.
What should the risk management team leader do in the early stages of the project?

NO.85 Henry is the project manager of the QBG Project for his company. This project has a budget of
$4,576,900 and is expected to last 18 months to complete. The CIO, a stakeholder in the project, has introduced a scope change request for additional deliverables as part of the project work.
What component of the change control system would review the proposed changes’ impact on the features and functions of the project’s product?

NO.86 You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories.
You discover that the risk categories have not been created. When should the risk categories have been created?

NO.87 An organization with a large computer network identified a potential cyber security threat. Although certain measures were implemented to avoid the risk, the cyber security threat occurs. The measures were partially successful and a new unforeseen risk emerges.
What should the risk owner do?

NO.88 You are the project manager of the NHH Project for your company and you have completed the risk analysis processes for the risk events. You and the project team have created risk responses for most of the identified project risks. Now, you would like to assign risk owners to the events. Which risk events should have risk response owners?

NO.89 You are the project manager for TTP project. You are in the Identify Risks process. You have to create the risk register. Which of the following are included in the risk register? Each correct answer represents a complete solution. Choose two.

NO.90 You are the project manager for a new website for the local zoo. You need to perform Qualitative Risk Analysis. When you’ve completed this process, you’ll produce all of the following as part of the risk register update output except which one?

NO.91 You are the project manager of the NHH project for your company. You and the project team have completed the quantitative risk analysis for your project. During this process you create a contingency reserve based on the risk probability-impact matrix as seen in the figure below.

Based on the information in the figure above, what amount would you need to include in your risk contingency fund?

NO.92 A risk manager schedules a project overview meeting with the project sponsor to provide an update on risk management progress. Each functional lead is identifying the most critical information to be presented at an executive level. The information must balance communicating essential information with actions and recommendations.
What risk information should be communicated to the project sponsor?

NO.93 You are the project manager of a large project that will last four years. In this project, you would like to model the risk based on its distribution, impact, and other factors. There are three modeling techniques that a project manager can use to include both event-oriented and project-oriented analysis. Which modeling technique does NOT provide event-oriented and project-oriented analysis for identified risks?