PMBOK Risk Management Processes 4

Question 1

What is the Expected Monetary Value (EMV) of a risk with a 30% probability and a $50,000 negative impact?

Accepted Answer

-$15,000

Answer

EMV = Probability × Impact = 0.30 × (-$50,000) = -$15,000, representing the weighted average outcome.

Question 2

Which risk process uses the probability and impact matrix as a key tool?

Accepted Answer

Perform Qualitative Risk Analysis

Answer

Perform Qualitative Risk Analysis uses the probability and impact matrix to categorize risks as high, medium, or low priority.

Question 3

A project manager is using a decision tree to evaluate two alternative courses of action based on risk probabilities. This technique belongs to which process?

Accepted Answer

Perform Quantitative Risk Analysis

Answer

Decision tree analysis is a quantitative technique used in Perform Quantitative Risk Analysis to compare options under uncertainty.

Question 4

Which risk response strategy involves partnering with another organization to share both the opportunity and the resources needed to pursue it?

Accepted Answer

Share

Answer

Share allocates ownership of an opportunity to a third party who is best able to capture it, such as through a joint venture.

Question 5

The Risk Report, added in PMBOK 6th edition, differs from the Risk Register in that it primarily provides:

Accepted Answer

Information on overall project risk exposure

Answer

The Risk Report presents information on overall project risk exposure, including a summary of individual risk findings.

PMBOK - Project Management Body of Knowledge Practice Test

PMBOK - Project Management Body of Knowledge Practice Test

PMBOK Risk Management Processes 4