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ITIL ISEB-PM1 Exam
ISEB-PM1 Foundation Certificate in Project Management (Page 3 )

Updated On: 7-Feb-2026
Page 3 of 126
PDF with 625 Questions

While preparing your risk responses, you realize that you have not planned for unknown risk events. You need to make adjustments to the project to compensate for unknown risk events. These adjustments are based on your past project experience when unknown risk events occurred and knocked the project off track.
What should you do?

  1. Include a management reserve in the budget to try to compensate for the unknown risks, and notify management to expect unknown risks to occur.
  2. Document the unknown risk items and calculate the expected monetary value based on probability and impact that may result from the occurrence.
  3. Determine the unknown risk events and the associated cost, then add the cost to the project budget as reserves.
  4. With the stakeholders, determine a percentage of the known risk budget to allocate to a management reserve budget.

Answer(s): A



You are about to begin negotiations with people from another country.
Which of the following should provide guidance on what business practices are allowed and not allowed?

  1. The company code of conduct
  2. The project charter
  3. The scope management plan
  4. The negotiation plan

Answer(s): A



An employee approaches you and asks to tell you something in confidence. He advises you that he has been performing illegal activities within the company for the last year. He is feeling guilty about it and is telling you in order to receive advice as to what he should do.
What should you do?

  1. Ask for full details.
  2. Confirm that the activity is really illegal.
  3. Inform your manager of the illegal activity.
  4. Tell the employee to inform his boss.

Answer(s): C



What is one of the KEY objectives during contract negotiations?

  1. Obtain a fair and reasonable price.
  2. Negotiate a price under the seller's estimate.
  3. Ensure that all project risks are thoroughly delineated.
  4. Ensure that an effective communications management plan is established.

Answer(s): A



You are a new project manager who has never managed a project before. You have been asked to plan a new project. It would be BEST in this situation to rely on _______ during planning to improve your chance of success.

  1. Your intuition and training
  2. Stakeholder analysis
  3. Historical information
  4. Configuration management

Answer(s): C






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