You are completing the qualitative risk analysis process with your project team and are relying on
the risk management plan to help you determine the budget, schedule for risk management, and
risk categories. You discover that the risk categories have not been created. When should the risk
categories have been created?

You are the project manager of the HJH project for your company. In your project, you have
created the probability-impact risk matrix as shown in the following figure:

If Risk D happens in this project, how much will be left in the contingency reserve?

[tagged]
The only output of the perform qualitative risk analysis are risk register updates. When the project
manager updates the risk register he will need to include several pieces of information including all
of the following except for which one?

Nancy is the project manager of the NHH project. She and the project team have identified a
significant risk in the project during the qualitative risk analysis process. Bob is familiar with the
technology that the risk is affecting and proposes to Nancy a solution to the risk event. Nancy tells

Bob that she has noted his response, but the risk really needs to pass through the quantitative risk
analysis process before creating responses. Bob disagrees and ensures Nancy that his response
is most appropriate for the identified risk. Who is correct in this scenario?

Which of the following diagrams displays sensitivity analysis data?

[tagged]
Rachel is the project manager of the KJH Project for her company. She needs a method to create
a quick and simple approach to risk identification to communicate the project risk with the
stakeholders. Which one of the following approaches to risk identification should Rachel choose to
provide a quick and simple listing of the project risks?

Shawn is the project manager of the WHT Project for his company. In this project Shawn’s team
reports that they have found a way to complete the project work for less cost than what was
originally planned. The project team presents a new software that will help to automate the project
work. While the software and the associated training costs $25,000 it will save the project nearly
$65,000 in total costs. Shawn agrees to the software and changes to the project management plan
accordingly. What type of risk response has been used in this instance?

Wendy is the project manager of the FBL project for your company. She has identified several
risks within her project and has created a risk contingency reserve of $45,000 total. Her project is
nearly complete and many of the risks have not happened in the project. What should Wendy do
with the funds in the contingency reserve?

[tagged]
Frank is a project team member in your project. Frank has been adding changes to the software
interface for the software that your project is creating. Because Frank has been adding these
features new risks have entered into the project. You elect that these additions should be removed
from the project even if it takes extra time and money to remove the features. What are these
riskladen features called?

You are the project manager for your organization. You have identified a risk event you’re your
organization could manage internally or externally. If you manage the event internally it will cost
your project $578,000 and an additional $12,000 per month the solution is in use. A vendor can
manage the risk event for you. The vendor will charge $550,000 and $14,500 per month that the
solution is in use. How many months will you need to use the solution to pay for the internal
solution in comparison to the vendor’s solution?