You are the project manager of the HQQ Project for your company. You are working with your
project stakeholders to discuss the risks in the project that can adversely affect the project
objectives. You are discussing the possibilities of causes for an identified risk event in your project.
Your stakeholder is confused on the difference between causes and risk events. Which of the
following is NOT an example of a cause for a project risk?

Consider a project with a budget at completion of $1,345,000 and it is supposed to be completed
by today, but it is only 80 percent complete. This project has spent $1,250,000 to reach this point
of completion. What is the schedule variance for this project?

[tagged]
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?

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?

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?

[tagged]
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?

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?

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?

There are seven risk responses, a project manager can use to address risk events. Which one of
the following is a risk response that is appropriate for positive or negative risk events depending
on the scenario in the project?

[tagged]
You are the project manager of the NHQ Project for your company. You are discussing some of
the project issues that need to be resolved in the project. You and the project stakeholders come

to an agreement about the risk issues and how they will be resolved. Where should you document
this information for issue resolution?