QUESTION: 69

You are the project manager of the NNQ Project for your company and are working with your project team to define contingency plans for the risks within your project. Mary, one of your project team members, asks what a contingency plan is. Which of the following statements best defines what a contingency response is?

Some responses are designed for use only if certain events occur.
Some responses have a cost and a time factor to consider for each risk event.
Some responses must counteract pending risk events.
Quantified risks should always have contingency responses.

Answer(s): A

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QUESTION: 70

Who is responsible for the stakeholder expectations management in a high-profile, high-risk project?

Project risk assessment officer
Project management office
Project sponsor
Project manager

Answer(s): D

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QUESTION: 71

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 should the risk categories have been created?

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

Answer(s): B

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QUESTION: 72

You are the project manager of the HJH project for your company. In your project, you have created the probability-impact risk matrix as shown in the following figure:

If Risk D happens in this project, how much will be left in the contingency reserve?

$440,000
$233,500
$258,500
$243,500

Answer(s): B

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QUESTION: 72