During the execution of a multi-million dollar project, the project manager learns of the theft of important installation materials at one of the most time-critical sites. The project manager contacts the risk manager to discuss further steps, based on the risk register and the defined risk strategy for the risk of theft. However, the risk manager clarifies that the risk of theft was not identified in the risk management process.
What should the project manager do next?

• A.Deal with the issue and instruct the risk manager to include the risk of theft in the issue log.
• B.Update the project schedule and inform the stakeholders about the project schedule delay.
• C.Instruct the risk manager to transfer the risk of theft to an insurance company and capture the experience in the lessons learned.
• D.Make the risk manager responsible for the damage caused by the missing risk strategy for theft and update the project schedule.

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During which of the following processes, probability and impact matrix is prepared?

• A.Perform Qualitative Risk Analysis
• B.Monitoring and Control Risks
• C.Plan Risk Responses
• D.Perform Quantitative Risk Analysis

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The Identify Risk process determines the risks that affect the project and document their characteristics. Why should the project team members be involved in the Identify Risk process?

• A.They are the individuals that are most affected by the risk events.
• B.They are the individuals that will have the best responses for identified risks events within the project.
• C.They are the individuals that will most likely cause and respond to the risk events.
• D.They are the individuals that will need a sense of ownership and responsibility for the risk events.

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Melody is the project manager for her organization. She has created a risk response to conduct more tests on the software her project is creating. The identified risk that prompted this response was that the software is mission-critical and must be flawless before it can be put into product. What type of a risk response has Melody used in this scenario?

• A.Enhance
• B.Transference
• C.Avoidance
• D.Mitigation

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You are the project manager for your organization and you are working with Thomas, a project team member.
You and Thomas have been working on a specific risk response for a probable risk event in the project.
Thomas is empowered with a risk response and will control all aspects of the identified risk response in which a particular risk event will happen within the project. What title, in regard to risk, is bestowed on Thomas?

• A.Risk coordinator
• B.Risk team leader
• C.Risk owner
• D.Risk expeditor

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