You work as a project manager for BlueWell Inc. You are performing the quantitative risk analysis for your project. One of the project risks has a 50 percent probability of happening, and it will cost the project
$55,000 if the risk happens. What will be the expected monetary value of this risk event?
You are the project manager for Genpact Inc. You have established quarterly risk management meetings. Which of the following is not a component of a risk management meeting?
PESTLE, TECOP, and SPECTRUM are three examples of prompt lists that can be used during risk management activities. Prompt lists are used to do which of the following?
You are the project manager of the BJA Project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of
$85,000. Management and you discuss possible solutions to address the risk. You share with them that for
$75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time and cost additions to your project plan. What type of risk response is used?
John is the project manager of the NHQ Project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to make certain that he communicates about risk in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for John to communicate to the external stakeholders?
