PMBOK FREE PMBOK Managing Project Risks Questions and Answers 2

Question 1

A project manager identifies a risk that could delay the critical path by three weeks. The probability is low but the impact is very high. What is the BEST risk response strategy?

Accepted Answer

Develop a contingency plan with triggers

Answer

Accept the risk passively

Answer

Transfer the entire project to another team

Answer

Ignore the risk due to low probability

Question 2

During the Perform Quantitative Risk Analysis process, which technique uses probability distributions to model schedule and cost outcomes?

Accepted Answer

Monte Carlo simulation

Answer

Decision tree analysis

Answer

Influence diagrams

Answer

SWOT analysis

Question 3

What is the PRIMARY purpose of a risk register in project management?

Accepted Answer

To serve as a repository for all identified risks and their response plans

Answer

To document only negative risks identified during planning

Answer

To replace the need for a risk management plan

Answer

To assign blame when risks materialize

Question 4

A project team discovers a new risk during execution that was not identified in planning. What should the project manager do FIRST?

Accepted Answer

Add it to the risk register and assess its impact

Answer

Immediately escalate to the sponsor

Answer

Halt all project work until the risk is resolved

Answer

Implement a workaround without documentation

Question 5

Which risk response strategy involves shifting the negative impact of a risk to a third party?

Accepted Answer

Transfer

Answer

Mitigate

Answer

Avoid

Answer

Exploit

Question 6

What is a secondary risk in project risk management?

Accepted Answer

A risk that arises as a direct result of implementing a risk response

Answer

A risk that occurs after the project closes

Answer

The second-highest ranked risk on the risk register

Answer

A risk identified by a team member other than the project manager