Why would the project manager need to update the WBS after the risk response planning process?
You are the project manager of the GHY Project for your company. You have completed the risk
response planning with your project team. You now need to update the WBS. Why would the
project manager need to update the WBS after the risk response planning process? Choose the
best answer.
what planning approach?
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Leigh is working with the project stakeholders to define the project scope. The stakeholders are deciding on what type of flooring their new hotel should have in the lobby. They have narrowed their choices to either carpet or tile. The two acceptable choices of carpet or tile during scope definition is an example of what planning approach?
What are the reviews of management called at each phase?
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You are the program manager for your organization and are working with your program team to create the program scope. Based on the program requirements you have identified the major deliverables of each phase in your program scope. Management has requested that you plan for cost estimating to happen at each phase of the program before continuing the work. Management may elect to cancel the program at the end of each phase based on past performance of the program. What are the reviews of management called at each phase?
What is the likely outcome of creating this type of chart?
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Your project has several risks that may cause serious financial impact should they happen. You
have studied the risk events and made some potential risk responses for the risk events but
management wants you to do more. They’d like for you to create some type of a chart that
identified the risk probability and impact with a financial amount for each risk event. What is the
likely outcome of creating this type of chart?
What plan should Robert create along with the project managers to ensure that the resources are scheduled and
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Robert is the program manager for his organization which operates in a matrix structure.
Resources in Robert’s program will be utilized on several projects in and out of his program. He wants to be certain that all of the resources will be planned accordingly and that the project managers communicate with one another about when the resources will be needed and utilized in the projects. What plan should Robert create along with the project managers to ensure that the resources are scheduled and managed effectively?
What type of risk response is this approach?
Marsha is the project manager of the NHQ Project. There’s a risk that her project team has
identified, which could cause the project to be late by more than a month. Marsha does not want
this risk event to happen so she devises extra project activities to ensure that the risk event will not
happen. The extra steps, however, will cost the project an additional $10,000. What type of risk
response is this approach?
What will likely happen to the program and projects?
Wan is the program manager for his organization. He has been hearing reports that some project team members are complaining about the number of hours they’re required to work on the program’s projects and that some scheduling of team assignments are conflicting with their regular operational duties. You investigate the problem and agree that many team members are being assigned too much work within a given time period. You decide to enforce resource leveling
heuristics to thirty hours of project work per week maximum. What will likely happen to the program and projects?
what quantitative risk analysis is?
You are the project manager for your organization. You are preparing for the quantitative risk
analysis. Mark, a project team member, wants to know why you need to do quantitative risk
analysis when you just completed qualitative risk analysis. Which one of the following statements
best defines what quantitative risk analysis is?
What is Ben and his program team creating by subdividing the program scope in this scenario?
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Ben is the program manager for his organization. He’s working with program team to determine what activities need to be completed in order to move the program into execution. He and the team are subdividing the program scope into smaller, manageable components to determine the activity list. What is Ben and his program team creating by subdividing the program scope in this scenario?
What two areas of the project can the contingency reserve address in regard to risk management?
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Joan is the project manager of the KYU project for her company. She is working with management
on defining a contingency reserve for her project. Currently the project is scheduled to last 18
months and it has a cost budget of $2.5 million. What two areas of the project can the contingency
reserve address in regard to risk management?