PMBOK PMBOK Risk Management Processes Questions and Answers 3

Question 1

What distinguishes a residual risk from a secondary risk?

Accepted Answer

Residual risks remain after responses are implemented; secondary risks arise as a direct result of implementing a response

Answer

Residual risks are always high priority; secondary risks are always low priority

Answer

Residual risks occur only during execution; secondary risks occur during planning

Answer

There is no meaningful distinction between the two

Question 2

In the Monitor Risks process, what is the purpose of conducting risk audits?

Accepted Answer

To examine and document the effectiveness of risk responses and the risk management process

Answer

To identify new stakeholders for the project

Answer

To update the project schedule baseline

Answer

To approve additional project funding

Question 3

What does the expected monetary value (EMV) technique calculate?

Accepted Answer

The average outcome of scenarios that may or may not happen, using probability and impact values

Answer

The total project budget required for risk reserves

Answer

The exact financial loss from each identified risk

Answer

The cost of implementing all risk responses

Question 4

Which input is essential to the Identify Risks process but is NOT a project document?

Accepted Answer

Enterprise environmental factors

Answer

Risk register

Answer

Assumption log

Answer

Stakeholder register

Question 5

What is the primary purpose of risk categorization using a Risk Breakdown Structure (RBS)?

Accepted Answer

To organize risks by their source or area of impact for systematic analysis

Answer

To assign risk owners to each identified risk

Answer

To calculate the overall project risk exposure

Answer

To determine the sequence of risk response implementation

Question 6

When should the Identify Risks process be performed on a project?

Accepted Answer

Throughout the project lifecycle as an iterative process

Answer

Only during the planning phase

Answer

Only when a risk event has already occurred

Answer

Only at the request of the project sponsor