PMI-SP Risk Analysis & Contingency Planning 4

Question 1

A project scheduler performs quantitative risk analysis and determines the project has a 40% chance of meeting the baseline completion date. The sponsor requires 90% confidence. What action is MOST appropriate?

Accepted Answer

Add schedule contingency reserves until the model shows 90% confidence

Answer

To achieve the sponsor's required confidence level, schedule contingency must be added until the Monte Carlo model reflects a 90th percentile completion date matching the target.

Question 2

Which of the following is an example of a risk AVOIDANCE strategy in schedule management?

Accepted Answer

Eliminating a high-risk activity by using a proven alternative technology

Answer

Avoidance eliminates the risk entirely by changing the plan—such as replacing an untested technology with a proven one to eliminate schedule uncertainty.

Question 3

A risk breakdown structure (RBS) is MOST useful in schedule risk management for:

Accepted Answer

Organizing and categorizing risks to identify patterns and ensure coverage

Answer

The RBS hierarchically categorizes risks (technical, external, organizational, etc.) to help teams systematically identify risks and analyze root causes.

Question 4

When conducting a risk review meeting, the scheduler notes that a previously identified risk has not materialized but a new risk has emerged. The CORRECT action is to:

Accepted Answer

Close the resolved risk and add the new risk to the risk register with full analysis

Answer

Risk registers are living documents; risks that do not materialize should be closed, and newly identified risks must be added, analyzed, and assigned responses.

Question 5

A project has near-critical paths with only 2 days of total float. What schedule risk management action is MOST important for these paths?

Accepted Answer

Monitor them closely because any delay could make them critical

Answer

Near-critical paths with minimal float are highly vulnerable to becoming critical if risks materialize, requiring vigilant monitoring throughout execution.

(PMI-SP) PMI Scheduling Professional Practice Test

(PMI-SP) PMI Scheduling Professional Practice Test

PMI-SP Risk Analysis & Contingency Planning 4