What type of risk response is being audited in this scenario?
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You are the project manager of the NHQ project for your company. You are working with your
project team to complete a risk audit. A recent issue that your project team responded to, and
management approved, was to increase the project schedule because there was risk surrounding
the installation time of a new material. Your logic was that with the expanded schedule there would
be time to complete the installation without affecting downstream project activities. What type of
risk response is being audited in this scenario?
What type of estimating technique have you used in this instance?
You are the program manager for the HNY Corporation and you complete programs for other companies in your role. You have just been assigned a new program that is very similar to a recently completed program you did for your company. Management has asked you to create a cost estimate for the program so you base your current cost estimate on the recently finished program.
What type of estimating technique have you used in this instance?
Which of the following is the most accurate definition of a project risk?
Gary is the project manager for his organization. He is working with the project stakeholders on
the project requirements and how risks may affect their project. One of the stakeholders is
confused about what constitutes risks in the project. Which of the following is the most accurate
definition of a project risk?
What approach can you use to achieve the goal of improving the project’s performance through risk analys
You work as a project manager for BlueWell Inc. Management has asked you to work with the key
project stakeholder to analyze the risk events you have identified in the project. They would like
you to analyze the project risks with a goal of improving the project’s performance as a whole.
What approach can you use to achieve the goal of improving the project’s performance through
risk analysis with your project stakeholders?
What program management plan defines when resources are needed, how the resources will be obtained, and how th
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You are the program manager for a large program in your matrix organization. You need to define when the resources in your program will be brought into the program and then released from the program so that the project managers, operational managers, and your program team can plan accordingly. What program management plan defines when resources are needed, how the resources will be obtained, and how the resources may be released from the program?
what term?
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A high-profile, high-priority project within your organization is being created. Management wants
you to pay special attention to the project risks and do all that you can to ensure that all of the
risks are identified early in the project. Management has to ensure that this project succeeds.
Management’s risk aversion in this project is associated with what term?
What term is assigned to the enforcement of these program management rules and procedures?
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In your organization there are rules and procedures that the program manager must follow and abide by before the program can begin and must continue to follow once the program is in execution. What term is assigned to the enforcement of these program management rules and procedures?
What type of risk response is used?
You are the project manager of the BJA Project for your company. Management is worried about
one of the identified risks in your project. The risk event has a probability of 90 percent and a cost
impact of $85,000. Management and you discuss possible solutions to address the risk. You share
with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the
impact to $25,000. This solution will add three weeks to the project schedule. Management thinks
this is a good idea and they would like you to add the time and cost additions to your project plan.
What type of risk response is used?
What is the cost variance based on this information?
Your program has a budget at completion of $1,550,000 and is expected to last one year.
Currently your program is 45 percent complete and has spent $725,000. According to the program schedule you are actually to be fifty percent complete at this, but due to some vendor delays your program is running just a bit late. Management is concerned that your program will not be able to recoup the costs of the expenses. They’ve asked you to determine the cost variance for the program. What is the cost variance based on this information?
Which one of the following statements is the most accurate about when project risk happens?
Ben is the project manager of the YHT Project for his company. Alice, one of his team members, is
confused about when project risks will happen in the project. Which one of the following
statements is the most accurate about when project risk happens?