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NEW QUESTION # 126
Giving a part of project work to a contractor is an example of:

• A. risk assumption
• B. risk delegation
• C. risk assignment
• D. risk mitigation
• E. risk deflection

Answer: E

NEW QUESTION # 127
A software development project team was preparing for a phased release when an unknown and unexpected risk occurred with potential for delaying one of the features for the planned release. The project team decided to go ahead with the release and address this missing feature at a later date. One of the end users learned about this and strongly opposed the planned release.
What should the risk manager have done to prevent this situation?

• A. Engaged the sponsor and informed them of the decision to remove the planned feature.
• B. Created a schedule buffer in the plan to deal with unknown risks if and when they occurred.
• C. Performed proper risk identification at the project outset to ensure this risk was identified and mitigated.
• D. Engaged the stakeholders more in risk management activities and decisions to get their buy-in and support.

Answer: D

Explanation:
Stakeholder engagement is critical in risk management, especially when decisions may impact project deliverables. By involving stakeholders more in risk management activities and decision-making processes, the risk manager could have ensured that all parties were aware of potential changes and their implications.
This engagement helps in securing stakeholder buy-in and support, thus preventing situations where stakeholders might oppose decisions after the fact. PMI's risk management framework emphasizes the importance of continuous and active stakeholder engagement throughout the project lifecycle.

NEW QUESTION # 128
Thomas is the project manager of the NHJ Project for his company. He has identified several positive risk events within his project and he thinks these events can save the project time and money. Positive risk events, such as these within the NHJ Project are also known as what?

• A. Benefits
• B. Opportunities
• C. Contingency risks
• D. Ancillary constituent components

Answer: B

NEW QUESTION # 129
A risk manager has noticed that response actions are not working as expected when a risk occurs, mainly because the risk triggers are not well-defined. Which tool should the risk manager use to facilitate risk trigger identification in the upcoming risk review assessment?

• A. Affinity diagram
• B. Risk burndown chart
• C. Risk breakdown structure (RBS)
• D. Ishikawa diagram

Answer: D

Explanation:
An Ishikawa diagram, also known as a fishbone or cause-and-effect diagram, is a tool used to systematically identify potential factors causing an overall effect. In the context of risk management, it helps in pinpointing specific triggers that could lead to identified risks. By categorizing potential causes, the project team can visualize and analyze the root causes of risks, ensuring that risk triggers are well-defined and understood. This clarity enhances the effectiveness of response actions when risks materialize.
PMI Risk Management Study Guide References:
The PMI-RMP Exam Preparation Study Guide discusses the use of Ishikawa diagrams in risk identification, stating that they "assist teams in uncovering root causes of potential risks by visually mapping out cause-and- effect relationships."

NEW QUESTION # 130
You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?

• A. At least once per month
• B. It depends on how many risks are initially identified.
• C. Identify risks is an iterative process
• D. Several times until the project moves into execution

Answer: C

NEW QUESTION # 131
Joan is a project management consultant and she has been hired by a firm to help them identify risk events within the project. Joan would first like to examine the project documents including the plans, assumptions lists, project files, and contracts. What key thing will help Joan to discover risks within the review of the project documents?

• A. Plans that have loose definitions of terms and disconnected approaches will reveal risks.
• B. Lack of consistency between the plans and the project requirements and assumptions can be the indicators of risk in the project.
• C. The project documents will help the project manager, or Joan, to identify what risk identification approach is best to pursue.
• D. Poorly written requirements will reveal inconsistencies in the project plans and documents.

Answer: B

NEW QUESTION # 132
You are the project manager for your organization. You have identified a risk event you're your organization could manage internally or externally. If you manage the event internally it will cost your project $578,000 and an additional $12,000 per month the solution is in use. A vendor can manage the risk event for you. The vendor will charge $550,000 and $14,500 per month that the solution is in use. How many months will you need to use the solution to pay for the internal solution in comparison to the vendor's solution?

• A. Approximately 8 months
• B. Approximately 13 months
• C. Approximately 15 months
• D. Approximately 11 months

Answer: D

NEW QUESTION # 133
A project is at the final development stage. The test lead informs the risk manager that a key feature may not be testable due to changes in the environment What should the risk manager do?

• A. Review the feature with the project team.
• B. Confirm the risk triggers are still valid.
• C. Escalate the issue to the project board.
• D. Ask the architect to develop acceptance criteria.

Answer: D

Explanation:
The risk manager should review the feature with the project team to determine the cause and impact of the untestability, and to identify possible solutions or alternatives. The risk manager should also update the risk register and the risk response plan accordingly. This is the best option among the given choices, as it involves the relevant stakeholders and follows the risk management process. Confirming the risk triggers are still valid is not sufficient, as it does not address the problem or its consequences. Asking the architect to develop acceptance criteria is not appropriate, as it may not be feasible or effective to test the feature with new criteria.
Escalating the issue to the project board is premature, as it may not be necessary or desirable to involve the senior management without first analyzing the situation and proposing a course of action. References: PMI.
(2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition. Chapter
11: Project Risk Management, pp. 414-415. 5
When a key feature may not be testable due to changes in the environment, the risk manager should review the feature with the project team to understand the issue, assess its impact, and determine the appropriate risk response. This collaborative approach ensures that the team has a clear understanding of the situation and can work together to address the risk.

NEW QUESTION # 134
The risk manager for a project successfully establishes the risk management plan, the risk register and performs the qualitative risk analysis with the team. As the first step of the analysis, the risk manager develops the probability and impact scales. The scales are presented to the project manager, who refuses to accept the proposed scales.
What did the risk manager overlook prior to developing probability and impact scales?

• A. Informing the project manager about the risk management process
• B. Interviewing the stakeholders and related parties
• C. Evaluating and understanding the risk appetite of the stakeholders
• D. Gaining approvals for the developed risk register from the project manager

Answer: B

NEW QUESTION # 135
The project manager performed' a variance analysis on the project during the execution phase. The variances were shown as increasing What does this result imply?

• A. There is no potential for future deviation.
• B. The project schedule is lagging behind.
• C. The uncertainty and risk are increasing.
• D. The project is over budget.

Answer: C

Explanation:
Explanation
Increasing variances during the execution phase imply that the uncertainty and risk are increasing, as the project performance is deviating from the planned values.
According to the PMBOK Guide - Sixth Edition1, variance analysis is a technique used to compare the actual performance of the project against the planned or expected performance. It can be applied to various aspects of the project, such as scope, schedule, cost, quality, and risk. Variance analysis can help identify deviations from the baseline and determine the causes and impacts of those deviations. If the variances are shown as increasing, it means that the actual performance is deviating more and more from the planned performance, which implies that the uncertainty and risk are increasing. This could affect the project objectives and deliverables, and require corrective or preventive actions to bring the project back on track. The other options are not correct, as they are either too specific (B and D) or contradictory to the result of the variance analysis. References: PMBOK Guide - Sixth Edition, pages 262-263.

NEW QUESTION # 136
Virginia is the project manager for her organization. She has hired a subject matter expert to interview the project stakeholders on certain identified risks within the project. The subject matter expert will assess the risk event with what specific goal in mind?

• A. To determine the level of probability and impact for each risk event
• B. To determine the validity of each risk event
• C. To determine the probability and cost of the risk event
• D. To determine the bias of the risk event based on each person interviewed

Answer: A

NEW QUESTION # 137
What is a project issue within a project environment?

• A. A certain event which has a positive or negative impact in the project
• B. A risk which has a significant impact on the project
• C. A negative effect on a project objective arising from occurrence of a threat
• D. An uncertain event which may impact the project

Answer: C

NEW QUESTION # 138
The project manager and the risk manager of a new project to develop an application to support autonomous driving are meeting with the sponsor and key stakeholders to discuss the project. During the meeting, it is identified that the transport authority is discussing new traffic regulations for the industry that could be in place before the project ends.
How should the project manager and the risk manager handle this situation?

• A. Ensure the project complies with the current traffic regulations and laws.
• B. Meet with the traffic authority staff in charge of the new regulation.
• C. Send a letter to the traffic authority with the general project information.
• D. Perform inquiries on the website of the traffic authority weekly.

Answer: B

Explanation:
Meeting with the traffic authority staff responsible for the new regulation allows the project manager and risk manager to understand the potential changes and their impact on the project. This will help them proactively address any potential issues and ensure the project complies with the new regulations.
According to the PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1, the project manager and the risk manager should handle this situation by meeting with the traffic authority staff in charge of the new regulation. This is because:
* The new traffic regulation is an external risk that could affect the project objectives, such as scope, schedule, cost, quality, and customer satisfaction. External risks are those that arise from outside the project boundaries and are beyond the control of the project team. Examples of external risks include changes in government policies, regulations, laws, market conditions, environmental factors, etc.
* The project manager and the risk manager should proactively engage with the external stakeholders who have the power and influence to create or modify the external risks. By meeting with the traffic authority staff, they can establish a positive relationship, gain insights into the new regulation, and influence its development to align with the project needs. They can also obtain information on the probability and impact of the risk, as well as the potential response strategies.
* The other options are not effective in handling this situation because:
* Ensuring the project complies with the current traffic regulations and laws does not address the risk of the new regulation that could change the project requirements, scope, or deliverables. It also does not help the project team to prepare for the possible changes and mitigate their negative effects.
* Sending a letter to the traffic authority with the general project information does not establish a direct and timely communication channel with the external stakeholder. It also does not provide enough details or feedback to understand the nature and implications of the new regulation.
* Performing inquiries on the website of the traffic authority weekly does not allow the project team to influence the development of the new regulation or obtain reliable and updated information. It also does not enable the project team to build trust and rapport with the external stakeholder.
References:
* PMBOK Guide, 6th edition, Chapter 11: Project Risk Management1
* Risk Management Professional (PMI-RMP)® Exam Cert Guide2

NEW QUESTION # 139
A company manages confidential customer information, and a data breach exposing sensitive information was discovered.
What should the risk manager do?

• A. Identify residual and secondary risks.
• B. Get a report of customers affected by the risk.
• C. Coordinate a response with the risk owner.
• D. Execute the security risks contingency plan.

Answer: C

Explanation:
According to the PMBOK Guide, the risk owner is the person assigned the responsibility of monitoring the risk and implementing the risk response plan. The risk owner should be involved in the risk response execution and evaluation, and should communicate the results and outcomes to the relevant stakeholders. In the case of a data breach, the risk owner should coordinate a response with the risk manager and other parties involved, such as the security team, the legal team, the customer service team, and the senior management.
The risk owner should also report the status of the risk and the effectiveness of the response plan to the risk manager. The risk manager should oversee the risk response process and ensure that the risk is handled appropriately and in alignment with the project objectives and stakeholder expectations. References: = PMBOK Guide, 6th edition, pages 452-453; The Standard for Risk Management in Portfolios, Programs, and Projects, page 79.

NEW QUESTION # 140
Harry works as a project manager for the NHQ Project. He is performing quantitative risk analysis for his project. One of the project risks has a 40 percent probability of happening, and it will cost the project $65,000 if the risk happens. What is the expected monetary value of this risk event?

• A. Negative $67,000
• B. $27,000
• C. Zero - the risk event has not yet occurred
• D. Negative $26,000

Answer: D

NEW QUESTION # 141
You are the project manager of the YHG project for your company. Within the project, you and the project team have identified a risk event that could have a financial impact on the project of $450,000. This risk event has a 70 percent chance of occurring in the project. The project identifies a solution that will reduce the probability of the risk event to ten percent, but it will cost $260,000 to implement. Management agrees with the solution and asks that you include the risk response in the project plan. What risk response is this?

• A. This is avoidance because the risk response caused the project plan to be changed.
• B. This is transference because of the $260,000 cost of the solution.
• C. This is not a risk response, but a change request.
• D. This is mitigation because the response reduces the probability.

Answer: D

NEW QUESTION # 142
Nancy is the project manager of a project with 78 stakeholders. This is a high-profile project and she needs to express to her project team and to the management the importance of communication in this project. She would like to show the number of stakeholder communication channels in the project. Based on this information how many communication channels exist within this project?

• A. 0
• B. 6,084
• C. 3,003
• D. 1

Answer: C

NEW QUESTION # 143
A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options.
What should the risk manager do?

• A. Perform a sensitivity analysis.
• B. Perform a qualitative risk analysis.
• C. Perform a constraint analysis.
• D. Perform a root-cause analysis.

Answer: B

NEW QUESTION # 144
While implementing the risk response plan for a previously identified risk, some secondary risks were identified but not captured on the risk register. The project manager decided to review the risk management plan to ensure this does not happen for future, similar situations.
What should the project manager do next?

• A. Identify secondary or residual risks for associated risk plans.
• B. Update the communications management plan to avoid future issues
• C. Develop risk response plans for all identified risks.
• D. Monitor and control secondary and residual risks in the risk register.

Answer: D

Explanation:
Explanation
The project manager should monitor and control secondary and residual risks in the risk register. This will ensure that any new risks identified during the implementation of the risk response plan are captured and managed effectively. Monitoring and controlling risks is acontinuous process that helps in identifying, analyzing, and planning for new risks as well as updating the risk register as needed.

NEW QUESTION # 145
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