QUESTION: 58

You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review of each identified risk event?

Quantitative risk analysis
Qualitative risk analysis
Seven risk responses
A risk probability-impact matrix

Answer(s): B

Explanation:

Qualitative risk analysis is a high-level, fast review of the risk event. Qualitative risk analysis qualifies the risk events for additional analysis.

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QUESTION: 59

What component of the change management system is responsible for evaluating, testing, and documenting changes created to the project scope?

Project Management Information System
Integrated Change Control
Configuration Management System
Scope Verification

Answer(s): C

Explanation:

The change management system is comprised of several components that guide the change request through the process. When a change request is made that will affect the project scope. The Configuration Management System evaluates the change request and documents the features and functions of the change on the project scope.

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QUESTION: 61

You work as a project manager for BlueWell Inc. You with your team are using a method or a (technical) process that conceives the risks even if all theoretically possible safety measures would be applied. One of your team member wants to know that what is a residual risk. What will you reply to your team member?

It is a risk that remains because no risk response is taken.
It is a risk that can not be addressed by a risk response.
It is a risk that will remain no matter what type of risk response is offered.
It is a risk that remains after planned risk responses are taken.

Answer(s): D

Explanation:

Residual risks are generally smaller risks that remain in the project after larger risks have been addressed. The residual risk is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied. The formula to calculate residual risk is (inherent risk) x (control risk) where inherent risk is (threats vulnerability). Answer B is incorrect. This is not a valid statement about residual risks. Answer C is incorrect. This is not a valid statement about residual risks. Answer A is incorrect. This is not a valid statement about residual risks.

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QUESTION: 62

You are the project manager of the NNN project for your company. You and the project team are working together to plan the risk responses for the project. You feel that the team has successfully completed the risk response planning and now you must initiate what risk process it is. Which of the following risk processes is repeated after the plan risk responses to determine if the overall project risk has been satisfactorily decreased?

Quantitative risk analysis
Risk identification
Risk response implementation
Qualitative risk analysis

Answer(s): A

Explanation:

The quantitative risk analysis process is repeated after the plan risk responses to determine if the overall project risk has been satisfactorily decreased. Answer D is incorrect. Qualitative risk analysis is not repeated after the plan risk response process. Answer B is incorrect. Risk identification is an ongoing process that happens throughout the project. Answer C is incorrect. Risk response implementation is not a project management process.

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QUESTION: 58

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QUESTION: 59

Explanation:

QUESTION: 61

Explanation:

QUESTION: 62

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