QUESTION: 153

You are completing the qualitative risk analysis process with your project team and are relying on the risk management plan to help you determine the budget, schedule for risk management, and risk categories. You discover that the risk categories have not been created. When the risk categories should have been created?

Define scope process
Risk identification process
Plan risk management process
Create work breakdown structure process

Answer(s): C

Explanation:

The plan risk management process is when risk categories were to be defined. If they were not defined, as in this scenario, it is acceptable to define the categories as part of the qualitative risk analysis process.
Plan risk management is the process of defining the way to conduct the risk management activities. Planning is essential for providing sufficient resources and time for risk management activities, and to establish an agreed- upon basis of evaluating risks. This process should start as soon as project is conceived and should be completed early during project planning.

Incorrect Answers:
A: Risk categories are not defined through the define scope process.

B: Risk categories are not defined through the risk identification process.

D: Risk categories are not defined through the create work breakdown structure process.

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QUESTION: 154

You work as a project manager for BlueWell Inc. You have declined a proposed change request because of the risk associated with the proposed change request. Where should the declined change request be documented and stored?

Change request log
Project archives
Lessons learned
Project document updates

Answer(s): A

Explanation:

The change request log records the status of all change requests, approved or declined.
The change request log is used as an account for change requests and as a means of tracking their disposition on a current basis. The change request log develops a measure of consistency into the change management process. It encourages common inputs into the process and is a common estimation approach for all change requests. As the log is an important component of project requirements, it should be readily available to the project team members responsible for project delivery. It should be maintained in a file with read-only access to those who are not responsible for approving or disapproving project change requests.

Incorrect Answers:
B: The project archive includes all project documentation and is created through the close project or phase process. It is not the best choice for this option.

C: Lessons learned are not the correct place to document the status of a declined, or approved, change request.

D: The project document updates is not the best choice for this question. It can be placed into the project documents, but the declined changes are part of the change request log.

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QUESTION: 155

Capability maturity models are the models that are used by the enterprise to rate itself in terms of the least mature level to the most mature level. Which of the following capability maturity levels shows that the enterprise does not recognize the need to consider the risk management or the business impact from IT risk?

Level 2
Level 0
Level 3
Level 1

Answer(s): B

Explanation:

0 nonexistent: An enterprise's risk management capability maturity level is 0 when:
The enterprise does not recognize the need to consider the risk management or the business impact from IT risk.
Decisions involving risk lack credible information.
Awareness of external requirements for risk management and integration with enterprise risk management (ERM) do not exists.

Incorrect Answers:
A, C, D: These all are higher levels of capability maturity model and in this enterprise is mature enough to recognize the importance of risk management.

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QUESTION: 156

Using which of the following one can produce comprehensive result while performing qualitative risk analysis?

Scenarios with threats and impacts
Cost-benefit analysis
Value of information assets.
Vulnerability assessment

Answer(s): A

Explanation:

Using list of possible scenarios with threats and impacts will better frame the range of risk and hence can frame more informative result of qualitative analysis.

Incorrect Answers:
B: Cost and benefit analysis is used for taking financial decisions that can be formal or informal, such as appraisal of any project or proposal. The approach weighs the total cost against the benefits expected, and then identifies the most profitable option. It only decides what type of control should be applied for effective risk management.

C, D: These are not sufficient for producing detailed result.

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QUESTION: 153

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QUESTION: 154

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QUESTION: 155

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QUESTION: 156

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