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Risk Process Facilitation (25-28%)

Providing the risk data to schedule and cost analysts to assure that project risk is correctly displayed in the schedule and cost estimates for the project;
Utilizing the quantitative and qualitative techniques & tools to facilitate the evaluation of the project team’s of the recognized risks’ attributes for prioritizing the risks for response planning;
Utilizing different techniques to facilitate risk identification for enabling the stakeholders and project team to determine & understand the risk display of the project;
Using the scenarios to evaluate the key requirements & dependencies and validate potential risk responses for enhancing the probability of project success.

PMI Risk Management Professional Sample Questions (Q200-Q205):

NEW QUESTION # 200
A race director is planning a marathon with US$80,000 in upfront costs that will be offset by race fees. The remainder of the funds will be donated to a national charity. State law mandates that all money paid by the participants must be refunded if the race is cancelled for any reason.
Which of the following is the best example of a risk mitigation response?

A. Charge the runners an additional amount to cover the US$80,000.
B. Inform the charity that they will receive no funds should the race be cancelled.
C. Purchase an insurance policy covering up to US$85,000 in losses, at a cost of US$5,000, in the event the race is cancelled.
D. Let the runners know the race will be cancelled only in the event of an emergency.

Answer: C

NEW QUESTION # 201
Sensitivity analysis is a technique for systematically changing parameters in a model to determine the effects of such changes and is useful for computer modelers for a range of purposes. Which of the following purposes does the sensitivity analysis include? Each correct answer represents a complete solution. Choose all that apply.

A. Estimating the average outcome
B. Model development
C. Increased understanding or quantification of the system
D. Decision making or the development of recommendations for decision makers

Answer: B,C,D

NEW QUESTION # 202
Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?

A. Project risk happens throughout the project execution.
B. Project risk can happen at any moment.
C. Project risk is always in the future.
D. Project risk is uncertain, so no one can predict when the event will happen.

Answer: C

NEW QUESTION # 203
Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?

A. Project risk assessment officer
B. Project management office
C. Project manager
D. Project sponsor

Answer: C

Explanation:
Explanation/Reference:

NEW QUESTION # 204
You are the project manager of the NHQ Project for your company. You have completed qualitative and quantitative analysis of your identified project risks and you would now like to find an approach to increase project opportunities and to reduce threats within the project. What project management process would best help you?

A. Plan risk responses
B. Monitor and control project risks
C. Create a risk governance approach
D. Create the project risk register

Answer: A

NEW QUESTION # 205
......

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