QUESTION: 93

Conditions that are not under the control of the project team that influence, direct, or constrain a project are called:

Enterprise environmental factors
Work performance reports
Organizational process assets
Context diagrams

Answer(s): A

Explanation:

2.1.5 Enterprise Environmental Factors
Enterprise environmental factors refer to conditions, not under the control of the project team, that influence, constrain, or direct the project. Enterprise environmental factors are considered inputs to most planning processes, may enhance or constrain project management options, and may have a positive or negative influence on the outcome.
Enterprise environmental factors vary widely in type or nature. Enterprise environmental factors include, but are not limited to:
Organizational culture, structure, and governance; Geographic distribution of facilities and resources;
Government or industry standards (e.g., regulatory agency regulations, codes of conduct, product standards, quality standards, and workmanship standards);
Infrastructure (e.g., existing facilities and capital equipment);
Existing human resources (e.g., skills, disciplines, and knowledge, such as design, development, legal, contracting, and purchasing);
Personnel administration (e.g., staffing and retention guidelines, employee performance reviews and training records, reward and overtime policy, and time tracking);
Company work authorization systems; Marketplace conditions;
Stakeholder risk tolerances; Political climate;
Organization’s established communications channels;
Commercial databases (e.g., standardized cost estimating data, industry risk study information, and risk databases); and
Project management information system (e.g., an automated tool, such as a scheduling software tool, a configuration management system, and
Project management information system (e.g., an automated tool, such as a scheduling software tool, a configuration management system, an information collection and distribution system, or web interfaces to other online automated systems).

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QUESTION: 94

The organization's perceived balance between risk taking and risk avoidance is reflected in the risk:

Responses
Appetite
Tolerance
Attitude

Answer(s): A

Explanation:

11 PROJECT RISK MANAGEMENT
[..]
Organizations perceive risk as the effect of uncertainty on projects and organizational objectives. Organizations and stakeholders are willing to accept varying degrees of risk depending on their risk attitude. The risk attitudes of both the organization and the stakeholders may be inﬂuenced by a number of factors, which are broadly classified into three themes:

Risk appetite, which is the degree of uncertainty an entity is willing to take on in anticipation of a reward.
Risk tolerance, which is the degree, amount, or volume of risk that an organization or individual will withstand.
Risk threshold, which refers to measures along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk. Above that risk threshold, the organization will not tolerate the risk.
For example, an organization’s risk attitude may include its appetite for uncertainty, its threshold for risk levels that are unacceptable, or its risk tolerance at which point the organization may select a different risk response. Positive and negative risks are commonly referred to as opportunities and threats. The project may be accepted if the risks are within tolerances and are in balance with the rewards that may be gained by taking the risks. Positive risks that offer opportunities within the limits of risk tolerances may be pursued in order to generate enhanced value. For example, adopting an aggressive resource optimization technique is a risk taken in anticipation of a reward for using fewer resources.

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QUESTION: 95

An output of the Manage Stakeholder Engagement process is:

change requests
enterprise environmental factors
the stakeholder management plan
the change log

Answer(s): A

Explanation:

13.3 Manage Stakeholder Engagement
Definition: The process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle.
Key Benefit: The key benefit of this process is that it allows the project manager to increase support and minimize resistance from stakeholders, significantly increasing the chances to achieve project success.

Inputs
1. Stakeholder management plan
2. Communications management plan
3. Change log
4. Organizational process assets

Tools & Techniques
1. Communication methods
2. Interpersonal skills
3. Management skills

Outputs
1. Issue log
2. Change requests
3. Project management plan updates
4. Project documents updates
5. Organizational process assets updates

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QUESTION: 96

Which process numerically analyzes the effect of identified risks on overall project objectives?

Plan Risk Management
Plan Risk Responses
Perform Quantitative Risk Analysis
Perform Qualitative Risk Analysis

Answer(s): C

Explanation:

Process: 11.4 Perform Quantitative Risk Analysis
Definition: The process of numerically analyzing the effect of identified risks on overall project objectives.
Key Benefit: The key benefit of this process is that it produces quantitative risk information to support decision making in order to reduce project uncertainty.

Inputs
1. Risk management plan
2. Cost management plan
3. Schedule management plan
4. Risk register
5. Enterprise environmental factors
6. Organizational process assets

Tools & Techniques
1. Data gathering and representation techniques
2. Quantitative risk analysis and modeling techniques
3. Expert judgment

Outputs
1. Project documents updates

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