[tagged]
The Project Risk Management knowledge area focuses on which of the following processes?
Each correct answer represents a complete solution. Choose all that apply.

[tagged]
Mary is the project manager of PKT project. In Mary’s project there are certain enterprise
environmental factors that require Mary to use modeling and simulation techniques to predict the
likelihood of achieving cost and schedule objectives in the project. Mary is using a technique for
which the cost estimates are chosen at random for each iteration of the analysis, such as
pessimistic, most likely, and worst-case scenarios. What type of analysis is Mary using in this
project?

In what portion of a project are risk and opportunities greatest and require intense planning and
anticipation of risk events?

Courtney is the project manager for her organization. She is working with the project team to
complete the qualitative risk analysis for her project. During the analysis Courtney encourages the
project team to begin the grouping of identified risks by common causes. What is the primary
advantage to group risks by common causes during qualitative risk analysis?

Lamont is the project manager of a project that has recently finished the final project deliverables.
The project customer has signed off on the project deliverable and Lamont has a few
administrative closure activities to complete. In the project, there were several large risks that
could have wrecked the project but Lamont and his project team found some creative methods to
resolve the risks without affecting the project costs or project end date. What should Lamont do
with the risk responses he identified during the project’s monitoring and controlling process?

You are the project manager of the HJK project for your organization. You and the project team
have created risk responses for many of the risk events in the project. A teaming agreement is an
example of what risk response?

[tagged]
Harold is the project manager of a large project in his organization. He has been actively
communicating and working with the project stakeholders. One of the outputs of the manage
stakeholder expectations process can actually create new risk events for Harold’s project. Which
output of the manage stakeholder expectations process can create risks?

Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified
a supplier who can create stained glass windows for 1,000 window units in the construction
project. The supplier is an artist who works by himself, but creates windows for several companies
throughout the United States. Management reviews the proposal to use this supplier and while
they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units
in time for the project’s deadline. Management asked Harry to find a supplier who can fulfill the
completion of the windows by the needed date in the schedule. What risk response has
management asked Harry to implement?

Joan is a project management consultant and she has been hired by a firm to help them identify
risk events within the project. Joan would first like to examine the project documents including the
plans, assumptions lists, project files, and contracts. What key thing will help Joan to discover
risks within the review of the project documents?

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?