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CAP

you need to use the solution to pay for the internal solution in comparison to the vendor’s solution?

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?

What type of risk response has Adrian used in this example?

Adrian is the project manager of the NHP Project. In her project there are several work packages that deal with electrical wiring. Rather than to manage the risk internally she has decided to hire a vendor to complete all work packages that deal with the electrical wiring. By removing the risk internally to a licensed electrician Adrian feels more comfortable with project team being safe.

What type of risk response has Adrian used in this example?

The temperature of 430 is called what?

Your project uses a piece of equipment that if the temperature of the machine goes above 450 degree Fahrenheit the machine will overheat and have to be shut down for 48 hours. Should this machine overheat even once it will delay the project’s end date. You work with your project to create a response that should the temperature of the machine reach 430, the machine will be paused for at least an hour to cool it down. The temperature of 430 is called what?

What will be Neil’s reply to Tom?

Neil works as a project manager for SoftTech Inc. He is working with Tom, the COO of his company, on several risks within the project. Tom understands that through qualitative analysis Neil has identified many risks in the project. Tom’s concern, however, is that the priority list of these risk events are sorted in “high-risk,” “moderate-risk,” and “low-risk” as conditions apply within the project. Tom wants to know that is there any other objective on which Neil can make the priority list for project risks. What will be Neil’s reply to Tom?

Which of the following statement is most accurate about the limitations of the checklist analysis approach for

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project.

Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?


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