Which of the following is an input to the Perform Qualitative Risk Analysis process?
Answer(s): A
11.2.3.1 Risk RegisterThe primary output from Identify Risks is the initial entry into the risk register. The risk register is a document in which the results of risk analysis and risk response planning are recorded. It contains the outcomes of the other risk management processes as they are conducted, resulting in an increase in the level and type of information contained in the risk register over time. The preparation of the risk register begins in the Identify Risks process with the following information, and then becomes available to other project management and risk management processes:List of identified risks. The identified risks are described in as much detail as is reasonable. A structure for describing risks using risk statements may be applied, for example, EVENT may occur causing IMPACT, or If CAUSE exists, EVENT may occur leading to EFFECT. In addition to the list of identified risks, the root causes of those risks may become more evident. These are the fundamental conditions or events that may give rise to one or more identified risks. They should be recorded and used to support future risk identification for this and other projects.List of potential responses. Potential responses to a risk may sometimes be identified during the Identify Risks process. These responses, if identified in this process, should be used as inputs to the Plan Risk Responses process.Process: 11.3 Perform Qualitative Risk AnalysisDefinition: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.Key Benefit: The key benefit of this process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks.Inputs1. Risk management plan2. Scope baseline3. Risk register4. Enterprise environmental factors5. Organizational process assetsTools & Techniques1. Risk probability and impact assessment2. Probability and impact matrix3. Risk data quality assessment4. Risk categorization5. Risk urgency assessment6. Expert judgmentOutputs1. Project documents updates
Which of the following Process Groups covers all Project Management Knowledge Areas?
Answer(s): C
The process of identifying the stakeholders' information needs is completed during:
Process: 10.1 Plan Communications ManagementDefinition: The process of developing an appropriate approach and plan for project communications based on stakeholder’s information needs and requirements, and available organizational assets.Key Benefit: The key benefit of this process is that it identifies and documents the approach to communicate most effectively and efficiently with stakeholders.Inputs1. Project management plan 2. Stakeholder register3. Enterprise environmental factors4. Organizational process assetsTools & Techniques1. Communication requirements analysis2. Communication technology3. Communication models4. Communication methods5. MeetingsOutputs1. Communications management plan2. Project documents updates
What is the most accurate rough order of magnitude (ROM)?
A rough order of magnitude (ROM) estimate is the least accurate estimate. A Guide to the Project Management Body of Knowledge (The PMBOK® Guide), 5th Edition gives the guidelines that ROMs are -50% to +50% accurate, the PMBOK Guide 5th Edition gives the guidelines that ROMs are -25% to +75% accurate, or potentially even larger. It should be noted that stated percentages are not the main takeaway are not likely specifically tested on; it is more the concept and idea that ROMs are a rough estimate, are used early in the project when info is limited, and are hence the least accurate.
Project contracts generally fall into which of the following three broad categories?
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