What risk response is the most appropriate for this instance?
Rob is the project manager of the IDLK Project for his company. This project has a budget of
$5,600,000 and is expected to last 18 months. Rob has learned that a new law may affect how the
project is allowed to proceed – even though the organization has already invested over $750,000
in the project. What risk response is the most appropriate for this instance?
what type of risk event?
You are the project manager for your organization. You have determined that an activity is too
dangerous to complete internally so you hire licensed contractor to complete the work. The
contractor, however, may not complete the assigned work on time which could cause delays in
subsequent work beginning. This is an example of what type of risk event?
What type of risk response are your program stakeholders recommending in this situation?
You are the program manager for your organization and you are dealing with your program stakeholders. You are explaining to them, along with your program team, how certain activities in the program may cause delays in the schedule if the associated risk events come into play. The cost of impact of the risk events are minimal, but the schedule impacts could be bigger. The stakeholders are concerned about delaying the schedule beyond a given due date for the program. They would like you to determine if it is possible to add more labor, use a higher grade of material, or hire some consultants to ensure the risks do not occur in the program. They are not much concerned about the cost of the solution as long as the solution or identified risks do not delay the program completion. What type of risk response are your program stakeholders recommending in this situation?
Which one of the following is NOT an input to the perform quantitative risk analysis process?
[tagged]
There are five inputs to the quantitative risk analysis process. Which one of the following is NOT
an input to the perform quantitative risk analysis process?
If Don were to perform a risk audit, who would carry the risk in this scenario?
Don has hired Jerry, a contractor, to complete a portion of his project work. The contract used was
a cost-plus contract. If Don were to perform a risk audit, who would carry the risk in this scenario?
what verbal aspect of communication is lost?
Communication is large percentage of program execution as the program manager must communicate with the appropriate stakeholders. In larger programs face-to-face communication is not always possible. When emails are used what verbal aspect of communication is lost?
What will you need as inputs for the qualitative risk analysis of the project in this scenario?
You are the project manager of the BlueStar project in your company. Your company is structured
as a functional organization and you report to the functional manager that you are ready to move
onto the qualitative risk analysis process. What will you need as inputs for the qualitative risk
analysis of the project in this scenario?
What approach can you use to consider the availability of resources when the project managers begin sequencing
You are the program manager for your organization. Your current program, which has just started, has eight projects and many of the projects share resources such as equipment and people.
Management has asked that you identify when the project resources will be utilized on each project within your program. They are worried some resources may be idle or overscheduled.
What approach can you use to consider the availability of resources when the project managers begin sequencing their project activities?
How many risk responses are available for a positive risk event in the project?
You work as a project manager for TechSoft Inc. You are preparing to plan risk responses for your
project with your project team. How many risk responses are available for a positive risk event in
the project?
what will the expected monetary value of the risk event be?
If a risk has a probability of 60 percent and an impact of -$57,000 what will the expected monetary value of the risk event be?