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

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Which of the following risk responses delineates that the project plan will not be changed to deal with the risk?

• A.Exploitation
• B.Acceptance
• C.Mitigation
• D.Transference

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Where can a project manager find risk-rating rules?

• A.Enterprise environmental factors
• B.Risk probability and impact matrix
• C.Risk management plan
• D.Organizational process assets

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Sammy is the project manager for her organization. She would like to rate each risk based on its probability and affect on time, cost, and scope. Harry, a project team member, has never done this before and thinks Sammy is wrong to attempt this approach. Harry says that an accumulative risk score should be created, not three separate risk scores. Who is correct in this scenario?

• A.Sammy is correct, because she is the project manager.
• B.Harry is correct, the risk probability and impact matrix is the only approach to risk assessment.
• C.Harry is correct, because the risk probability and impact considers all objectives of the project.
• D.Sammy is correct, because organizations can create risk scores for each objective of the project.

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You are the project manager of a large construction project. This project will last for 18 months and will cost $750,000 to complete. You are working with your project team, experts, and stakeholders to identify risks within the project before the project work begins. Management wants to know why you have scheduled so many risk identification meetings throughout the project rather than just initially during the project planning. What is the best reason for the duplicate risk identification sessions?

• A.The iterative meetings allow the project manager to communicate pending risks events during project execution.
• B.The iterative meetings allow the project manager to discuss the risk events which have passed the project and which did not happen.
• C.The iterative meetings allow the project manager and the risk identification participants to identify newly discovered risk events throughout the project.
• D.The iterative meetings allow all stakeholders to participate in the risk identification processes throughout the project phases.

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