PMBOK FREE PMBOK Managing Project Risks Questions and Answers 3

Question 1

A project manager is using an Expected Monetary Value (EMV) analysis for a decision. Risk A has a 30% probability and a -$100,000 impact. What is the EMV of Risk A?

Accepted Answer

-$30,000

Answer

-$100,000

Answer

-$70,000

Answer

-$130,000

Question 2

Which document defines how risk management activities will be structured and performed throughout the project?

Accepted Answer

Risk management plan

Answer

Risk register

Answer

Project charter

Answer

Stakeholder register

Question 3

During risk identification, the team uses a technique that examines the project from the perspective of strengths, weaknesses, opportunities, and threats. What is this technique called?

Accepted Answer

SWOT analysis

Answer

Delphi technique

Answer

Root cause analysis

Answer

Checklist analysis

Question 4

A project manager decides to reduce the probability of a risk event by adding extra testing phases. Which risk response strategy is being applied?

Accepted Answer

Mitigation

Answer

Avoidance

Answer

Transference

Answer

Acceptance

Question 5

What is the difference between a risk owner and a risk action owner?

Accepted Answer

The risk owner monitors the risk while the risk action owner executes the response

Answer

There is no difference; they are the same role

Answer

The risk action owner identifies risks while the risk owner closes them

Answer

The risk owner only handles positive risks

Question 6

During the Monitor Risks process, the project manager reviews risks that did not occur and are no longer relevant. What should be done with these risks?

Accepted Answer

Close them in the risk register and release any contingency reserves

Answer

Leave them in the risk register unchanged

Answer

Move them to the lessons learned register only

Answer

Reassign them to a different project