Answers from Chapter Fifteen


1.

The correct answer is D. Project risks affect the ability of the project team to meet its commitments of time, costs, scope, or quality.

2.

The correct answer is true. Risk events such as a delay in receiving a customer's approval to proceed on a design may have multiple causes. For example, a delay in the delivery of documents to a customer for their approval and incomplete information on the documents could cause the approval to be delayed. As a result of the delay, the project schedule, deliverable quality, and project cost all may be negatively impacted.

3.

The correct answer is C. Other risk management processes are driven by and are dependent on the Risk Management Plan.

4.

The best answer is C. An RBS is optional but may assist the team in its identification of risks and opportunities by looking at the sources of risks or the areas where risks may occur.

5.

The correct answer is D. Relative scales of impact are rank ordered to differentiate risks that require special attention from lesser risks. Numerical scales such as 0.1, 0.5, and 0.9 can be used to assign values to the impact of the risks.

6.

The correct answer is A. If there is a delay of one week over a 20-week time period, that is the equivalent of a 5% increase. According to the matrix, that will be a Low impact to the Time objective of the project.

7.

The correct answer is B. Risk Identification must precede Risk Analysis. A person who is experienced in risk management may be able to skip the Quantitative and Qualitative Risk Analysis and determine the risk response solely upon identification of the risks and previous experience.

8.

The answer is B.

9.

The correct answer is B. The Probability and Impact Matrix is a component of the Risk Management Plan, used as an input to the Risk Identification process.

10.

The correct answer is C. The Risk Register is a comprehensive document that lists the risks, root causes, potential responses (optional), and an updated list of risk categories from the RBS. It uses the Risk Management Plan as an input, and the Quantitative and Qualitative Risk Analysis processes use the Risk Register as an input.

11.

The correct answer is A. The purpose of this process is to sort and prioritize risk events using the likelihood that the risk event will occur as well as the consequences of the risk event.

12.

The correct answer is B. The Risk Register not only prioritizes the risk events but also focuses attention on lower-priority risks that, if ignored during the project, could become very high-priority. Monitoring lower-priority risks could prevent them from growing. It is said, "That which is measured, improves."

13.

The correct answer is C. The Risk Register cannot be developed before risk events are identified, and the information from the Qualitative Risk Analysis is needed to prioritize the risks for further action.

14.

The correct answer is A. The Project Scope Statement and Organizational Process Assets are inputs to all of the risk management processes.

15.

The best answer is C. Decision Tree Analysis, Probability Distributions, Modeling and Simulation, Expected Monetary Value, and Sensitivity Analysis are numerically based statistical tools.

16.

The correct answer is D. Probabilities of achieving project objectives and estimates of cost and schedule outcomes are both added during the Quantitative Risk Analysis process. The other outputs were developed during Risk Identification and Qualitative Risk Analysis.

17.

The best answer is A. Contingency and Accept are for both positive and negative risk events and should be considered in addition to the negative risk responses.

18.

The correct answer is false. Adding items to the project plan may not change the project costs or scheduled completion date if the mitigation activity is a modification of something that is already planned, such as contacting the vendor in Table 15-5 to check on the status of the order by phone on a weekly or daily basis and asking for verification of progress.



Passing the PMP Exam. How to Take It and Pass It
Passing the PMP Exam: How to Take It and Pass It: How to Take It and Pass It
ISBN: 0131860070
EAN: 2147483647
Year: 2003
Pages: 167
Authors: Rudd McGary

flylib.com © 2008-2017.
If you may any questions please contact us: flylib@qtcs.net