Which of the following risk responses can be used for either an opportunity or a threat?
Which of the following risk responses can be used for either an opportunity or a threat?
What is risk appetite?
What is risk appetite?
Which of the following reports does not contain any information on risk?
Which of the following reports does not contain any information on risk?
Effective risk management helps to ensure the [?
Identify the missing word(s) in the following sentence… Effective risk management helps to ensure
the [?] are met
what a risk owner is?
Which of the following statements best describes what a risk owner is?
What is used to pass responsibility to a Team Manager for the production of one or more products?
What is used to pass responsibility to a Team Manager for the production of one or more
products?
Who is responsible for reviewing the risk management practices to ensure they are in line with the projectR
Who is responsible for reviewing the risk management practices to ensure they are in line with the
project’s risk management strategy?
Which of the following is used to inform the Project Board of a forecast deviation of stage-level tolerance?
Which of the following is used to inform the Project Board of a forecast deviation of stage-level
tolerance?
Which 2 statements should be recorded under the Risk management procedure heading?
Scenario
A photographer from Portraits Ltd, a professional photographic company, has taken on the role of
Team Manager after taking some time to understand the requirements of the project. A contract
for their services has been set up and is being monitored by the Purchasing Manager and a Work
Package has been agreed. This contract specifies that the photographer must arrange a meeting
with the Engineering Manager to establish a schedule for the photo sessions to minimize the
impact on the Engineering staff. This meeting should have occurred by now.
The Engineering Manager was made aware of this requirement but when asked he reported that
he has received no communication from the photographer. The Project Manager has tried to call
the photographer and has had no response. The Project Manager believes there is a risk that
Portraits Ltd are overbooking work and prioritizing other clients’ work. If Portraits ltd do not deliver
on schedule the project will be delayed and the expected benefits will be reduced.
The contract is to be reviewed and Portraits Ltd reminded of their agreement.
The project is now in stage 2. The Project Manager has heard about the possibility of a competitor
also producing a calendar to be delivered earlier than the target date for this project. There is a
threat that the early release of a competitor’s calendar may weaken the impact of the MNO
Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar
project.
Which 2 statements should be recorded under the Risk management procedure heading?
The contract is to be reviewed and Portraits Ltd reminded of their agreement.
HOTSPOT
Additional Information
A photographer from Portraits Ltd, a professional photographic company, has taken on the role of
Team Manager after taking some time to understand the requirements of the project. A contract
for their services has been set up and is being monitored by the Purchasing Manager and a Work
Package has been agreed. This contract specifies that the photographer must arrange a meeting
with the Engineering Manager to establish a schedule for the photo sessions to minimize the
impact on the Engineering staff. This meeting should have occurred by now.
The Engineering Manager was made aware of this requirement but when asked he reported that
he has received no communication from the photographer. The Project Manager has tried to call
the photographer and has had no response. The Project Manager believes there is a risk that
Portraits Ltd are overbooking work and prioritizing other clients’ work. If Portraits ltd do not deliver
on schedule the project will be delayed and the expected benefits will be reduced.
The contract is to be reviewed and Portraits Ltd reminded of their agreement.