Donna is the project manager of the QSD Project and she believes Risk Event D in the following
figure is likely to happen.

If this event does happen, how much will Donna have left in the risk contingency reserve if none of
the other risk events have happened?

A.
$35,000
Organizational process assets

B.
$41,700
Cost management plan

C.
$6,700
Resource calendars

D.
$14,000
Answer option D is incorrect. $14,000 is the risk event value of Risk Event
Answer option B is incorrect. $41,700 is the amount of the contingency reserve.
QUESTION 162

John is the project manager for his organization. Management has asked John to fast track his
project in order to reach a particular date for the project completion. When John fast tracks the
project what project management component must be updated to reflect this decision? Choose the
best answer.
Risk register

D.
$14,000
Answer option D is incorrect. $14,000 is the risk event value of Risk Event
Answer option B is incorrect. $41,700 is the amount of the contingency reserve.
QUESTION 162

John is the project manager for his organization. Management has asked John to fast track his
project in order to reach a particular date for the project completion. When John fast tracks the
project what project management component must be updated to reflect this decision? Choose the
best answer.
Risk register

D.
$14,000
Answer option D is incorrect. $14,000 is the risk event value of Risk Event
Answer option B is incorrect. $41,700 is the amount of the contingency reserve.
QUESTION 162

John is the project manager for his organization. Management has asked John to fast track his
project in order to reach a particular date for the project completion. When John fast tracks the
project what project management component must be updated to reflect this decision? Choose the
best answer.
Risk register

A.
$35,000
Organizational process assets

B.
$41,700
Cost management plan

C.
$6,700
Resource calendars

D.
$14,000
Answer option D is incorrect. $14,000 is the risk event value of Risk Event
Answer option B is incorrect. $41,700 is the amount of the contingency reserve.
QUESTION 162

John is the project manager for his organization. Management has asked John to fast track his
project in order to reach a particular date for the project completion. When John fast tracks the
project what project management component must be updated to reflect this decision? Choose the
best answer.
Risk register

Explanation:
To answer this question, you’ll first need to calculate the contingency reserve. Contingency
reserves are estimated costs to be used at the discretion of the project manager to deal with
anticipated, but not certain, events. These events are “known unknowns” and are part of the
project scope and cost baselines. The contingency reserve is calculated by multiplying the
probability and the impact for the risk event value for each risk event. The sum of the risk events
equals the contingency reserve for the project. The sum of the risk events equals the contingency
reserve for the project. In this question, the value is $41,700. If Risk D happens, it’ll cost the
project $35,000. The difference of $35,000 and $41,700 is $6,700.
Answer option A is incorrect. This is the impact of Risk Event

Fast tracking allows phases of the project to overlap and increases risk for the project. When new
risks are introduced into the project they should be recorded in the risk register. Risk register is a
document that contains the results of the qualitative risk analysis, quantitative risk analysis, and
risk response planning. Description, category, cause, probability of occurring, impact on
objectives, proposed responses, owner, and the current status of all identified risks are put in the
risk register.
Answer option B is incorrect. The costs do not change because of the new fast tracking
requirement.
Answer option C is incorrect. Resource calendars show the availability of project resources.
Answer option A is incorrect. Organizational process assets are updated as a result of updating
the risk register when you consider that the risk register will become part of the organizational
process assets. However, this is not the best answer for this question.