[tagged]
You are the project manager of the GHY project for your organization. You are about to start the
qualitative risk analysis process for the project and you need to determine the roles and
responsibilities for conducting risk management. Where can you find this information?

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?

Melody is the project manager for her organization. She has created a risk response to conduct
more tests on the software her project is creating. The identified risk that prompted this response
was that the software is mission-critical and must be flawless before it can be put into product.
What type of a risk response has Melody used in this scenario?

[tagged]
Which of the following processes involves choosing the alternative strategies, executing a
contingency or fallback plan, taking corrective action, and modifying the project management
plan?

Rex is the project manager of the BDF Project. This project will last for two years and has a
budget of $2,345,000. Management has instructed Rex that the project must not go over budget
as funds are very tight in the organization. During the project planning Rex and the project team
discover a positive risk event to save $75,000. Rex wants to make certain that this risk event
happens so which risk response method is most appropriate?

You are the project manager of the NJJ project. Your enterprise environmental factors require that
you establish certain risk management rules regarding low risks within your project. What is the
best policy for risks with low probability and low impact in the project management?

Gary has identified a project risk that could injure project team members. He does not want to
accept any risk where someone could become injured on this project so he hires a professional
vendor to complete this portion of the project work. This workaround to the risk event is known as
what type of risk response?

Fred is the project manager of a large project in his organization. Fred needs to begin planning the
risk management plan with the project team and key stakeholders. Which plan risk management
process tool and technique should Fred use to plan risk management?

[tagged]
Joan is the project manager of the BTT project for her company. She has worked with her project
to create risk responses for both positive and negative risk events within the project. As a result of
this process Joan needs to update the project document updates. She has updated the
assumptions log as a result of the findings and risk responses, but what other documentation will
need to be updated as an output of risk response planning?

You work as a project manager for BlueWell Inc. You with your team are using a method or a
(technical) process that conceives the risks even if all theoretically possible safety measures
would be applied. One of your team member wants to know that what is a residual risk. What will
you reply to your team member?