Full Practice Test Flashcards

During Monitor Risks, what technique compares actual risk outcomes against expectations to check the effectiveness of risk processes?

Answer: Risk audit

A risk audit examines and documents the effectiveness of risk responses and the overall risk management process.

Reserve analysis during Monitor Risks primarily checks whether:

Answer: Remaining contingency reserves are adequate for remaining risk

Reserve analysis compares remaining contingency reserves against the remaining amount of risk to verify adequacy.

A previously unidentified risk that emerges during execution should first be:

Answer: Recorded in the risk register and analyzed

Newly emerging risks should be captured in the risk register and run through analysis like any other identified risk.

When a risk is determined to be outside the project team's authority to address, the appropriate response is to:

Answer: Escalate it

Escalation moves a risk to the program, portfolio, or organizational level when it falls outside the project's authority.

Which output records the current state of overall project risk and summarizes information on individual risks?

Answer: Risk report

The risk report presents information on overall project risk and summary information about individual project risks.

A risk owner chooses to take no proactive action but sets aside a contingency reserve in case the risk occurs. This is an example of:

Answer: Active acceptance

Active acceptance involves establishing a contingency reserve to handle the risk if it materializes.

Workarounds in risk management are best described as:

Answer: Unplanned responses to risks that were not previously identified or accepted

Workarounds are unplanned responses developed to deal with unanticipated or passively accepted risks that occur.