Which of following is NOT used for measurement of Critical Success Factors of the project?

• A.Productivity
• B.Quality
• C.Quantity
• D.Customer service

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Which of the following is the MOST effective inhibitor of relevant and efficient communication?

• A.A false sense of confidence at the top on the degree of actual exposure related to IT and lack of a well-understood direction for risk management from the top down
• B.The perception that the enterprise is trying to cover up known risk from stakeholders
• C.Existence of a blame culture
• D.Misalignment between real risk appetite and translation into policies
• E.Explanation:
  Blame culture should be avoided. It is the most effective inhibitor of relevant and efficient communication. In a blame culture, business units tend to point the finger at IT when projects are not delivered on time or do not meet expectations. In doing so, they fail to realize how the business unit's involvement up front affects project success. In extreme cases, the business unit may assign blame for a failure to meet the expectations that the unit never clearly communicated. Executive leadership must identify and quickly control a blame culture if collaboration is to be fostered throughout the enterprise.

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While developing obscure risk scenarios, what are the requirements of the enterprise?
Each correct answer represents a part of the solution. Choose two.

• A.Have capability to cure the risk events
• B.Have capability to recognize an observed event as something wrong
• C.Have sufficient number of analyst
• D.Be in a position that it can observe anything going wrong

Correct Answer: B,D

Explanation/Reference:
Explanation:
The enterprise must consider risk that has not yet occurred and should develop scenarios around unlikely, obscure or non-historical events.
Such scenarios can be developed by considering two things:
Visibility

Recognition

For the fulfillment of this task enterprise must:

Be in a position that it can observe anything going wrong

Have the capability to recognize an observed event as something wrong

Incorrect Answers:
A, C: These are not the direct requirements for developing obscure risk scenarios, like curing risk events comes under process of risk management. Hence capability of curing risk event does not lay any impact on the process of development of risk scenarios.

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David is the project manager of the HRC Project. He has identified a risk in the project, which could cause the delay in the project. David does not want this risk event to happen so he takes few actions to ensure that the risk event will not happen. These extra steps, however, cost the project an additional $10,000. What type of risk response has David adopted?

• A.Avoidance
• B.Mitigation
• C.Acceptance
• D.Transfer
• E.Explanation:
  As David is taking some operational controls to reduce the likelihood and impact of the risk, hence
  he is adopting risk mitigation. Risk mitigation means that actions are taken to reduce the likelihood
  and/or impact of risk.
• F.is incorrect. Risk acceptance means that no action is taken relative to a particular risk;
  loss is accepted in case it occurs. As David has taken some actions in case to defend, therefore
  he is not accepting risk.
• G.is incorrect. Risk avoidance means that activities or conditions that give rise to risk are
  discontinued. But here, no such actions are taken, therefore risk in not avoided.

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Which of the following should be management's PRIMARY consideration when approving risk response action plans?

• A.Prioritization for implementing the action plans
• B.Ability of the action plans to address multiple risk scenarios
• C.Ease of implementing the risk treatment solution
• D.Changes in residual risk after implementing the plans

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