You are the project manager for the NHH project. You are working with your project team to examine the project from four different defined perspectives to increase the breadth of identified risks by including internally generated risks. What risk identification approach are you using in this example?

• A.Root cause analysis
• B.Influence diagramming techniques
• C.SWOT analysis
• D.Assumptions analysis

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You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?

• A.Data gathering and representation techniques
• B.Expert judgment
• C.Quantitative risk analysis and modeling techniques
• D.Organizational process assets

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Shawn is the project manager of the HWT project. In this project Shawn's team reports that they have found a way to complete the project work cheaply than what was originally estimated earlier. The project team presents a new software that will help to automate the project work. While the software and the associated training costs
$25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes the project management plan accordingly. What type of risk response had been used by him?

• A.Avoiding
• B.Accepting
• C.Exploiting
• D.Enhancing

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You work as a project manager for BlueWell Inc. Your project is using a new material to construct a large warehouse in your city. This new material is cheaper than traditional building materials, but it takes some time to learn how to use the material properly. You have communicated to the project stakeholders that you will be able to save costs by using the new material, but you will need a few extra weeks to complete training to use the materials. This risk response of learning how to use the new materials can also be known as what term?

• A.Benchmarking
• B.Cost-benefits analysis
• C.Cost of conformance to quality
• D.Team development

Correct Answer: C

Explanation/Reference:
Explanation:
When the project team needs training to be able to complete the project work it is a cost of conformance to quality.
The cost of conformance to quality defines the cost of training, proper resources, and the costs the project must spend in order to ascertain the expected levels of quality the customer expects from the project. It is the capital used up throughout the project to avoid failures. It consists of two types of costs:
Prevention costs: It is measured to build a quality product. It includes costs in training, document

processing, equipment, and time to do it right.
Appraisal costs: It is measured to assess the quality. It includes testing, destructive testing loss, and

inspections.
Incorrect Answers:
A: Benchmarking compares any two items, such as materials, vendors, or resources.
B: Cost-benefit analysis is the study of the benefits in relation to the costs to receive the benefits of a decision, a project, or other investment.
D: Team development describes activities the project manager uses to create a more cohesive and responsive project team.

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You are working as the project manager of the ABS project. The project is for establishing a computer network in a school premises. During the project execution, the school management asks to make the campus Wi-Fi enabled. You know that this may impact the project adversely. You have discussed the change request with other stakeholders. What will be your NEXT step?

• A.Update project management plan.
• B.Issue a change request.
• C.Analyze the impact.
• D.Update risk management plan.

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