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?

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?

[tagged]
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?

You and your project team are just starting the risk identification activities for a project that is
scheduled to last for 18 months. Your project team has already identified a long list of risks that
need to be analyzed. How often should you and the project team do risk identification?

Wendy is the project manager of the NNJ project for her company. As part of the variance and
trend analysis tool and technique for risk governance she is using earned value management. In
this approach, Wendy wants to track and compare the cost and schedule variances. What is the
point of this tool and technique in regard to risk?

[tagged]
Which of the following techniques examines the degree to which organizational strengths offset
threats and opportunities that may serve to overcome weaknesses?

[tagged]
You work as a project manager for BlueWell Inc. There has been a delay in your project work that
is adversely affecting the project schedule. You decided, with your stakeholders’ approval, to fast
track the project work to get the project done faster. When you fast track the project which of the
following are likely to increase?

[tagged]
Don is the project manager of the PFO project for his organization. Don is working with the project
team members and two subject matter experts to assess the identified risk events in the project.
Which of the following approaches is the best to assess the risk events in the project?

You are interviewing members of a project team to test their understanding of the assigned risk
responses as risk owners. You and the project manager are working together to evaluate the risk
responses to determine their effectiveness in the project. What project management technique are
you performing with the project manager in this scenario?

[tagged]
Thomas is the project manager of the NHJ Project for his company. He has identified several
positive risk events within his project and he thinks these events can save the project time and
money. Positive risk events, such as these within the NHJ Project are also known as what?