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NEW QUESTION 34
Which of the following processes addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget?
The plan risk response project management process aims to reduce the threats to the project objectives and to increase opportunities. It follows the perform qualitative risk analysis process and perform quantitative risk analysis process. Plan risk response process includes the risk response owner to take the job for each agreed-to and funded risk response. This process addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget. The inputs to the plan risk response process are as follows: Risk register Risk management planC. is incorrect. Identify Risks is the process of determining which risks may affect the project. It also documents risks' characteristics. The Identify Risks process is part of the Project Risk Management knowledge area. As new risks may evolve or become known as the project progresses through its life cycle, Identify Risks is an iterative process. The process should involve the project team so that they can develop and maintain a sense of ownership and responsibility for the risks and associated risk response actions. Risk Register is the only output of this process. Answer: A is incorrect. Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk
process effectiveness throughout the project. It can involve choosing alternative strategies,
executing a contingency or fallback plan, taking corrective action, and modifying the project
management plan.D. Plan risk responseE. Qualitative Risk AnalysisF. Monitor and Control Risk
Answer: D
Explanation:
is incorrect. Qualitative analysis is the definition of risk factors in terms of
high/medium/low or a numeric scale (1 to 10). Hence it determines the nature of risk on a relative
scale.
Some of the qualitative methods of risk analysis are:
Scenario analysis- This is a forward-looking process that can reflect risk for a given point in time.
Risk Control Self -assessment (RCSA) - RCSA is used by enterprises (like banks) for the
identification and evaluation of operational risk exposure. It is a logical first step and assumes that
business owners and managers are closest to the issues and have the most expertise as to the
source of the risk. RCSA is a constructive process in compelling business owners to contemplate,
and then explain, the issues at hand with the added benefit of increasing their accountability.
NEW QUESTION 35
You are the project manager of GHT project. You want to perform post-project review of your project. What is the BEST time to perform post-project review by you and your project development team to access the effectiveness of the project?
The project development team and appropriate end users perform a post-project review jointly after the project has been completed and the system has been in production for a sufficient time period to assess its effectiveness.B. Project is about to completeC. Immediately after the completion of the projectD. During the projectE. Project is completed and the system has been in production for a sufficient time period
Answer: E
Explanation:
is incorrect. It is not done immediately after the completion of the project as its effectiveness cannot be measured until the system has been in production for certain time period. Answer:B is incorrect. The post-project review of project for accessing effectiveness cannot be done during the project as effectiveness can only evaluated after setting the project in process of production. Answer:D is incorrect. Post-project review for evaluating the effectiveness of the project can only be done after the completion of the project and the project is in production phase.
NEW QUESTION 36
Which of the following would BEST help an enterprise define and communicate its risk appetite?
Answer: D
NEW QUESTION 37
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