PMP Risk Management 2

Question 1

A project manager notices that a key supplier is experiencing financial difficulties. Which risk response strategy is MOST appropriate?

Accepted Answer

Transfer the risk by requiring a performance bond

Answer

Transferring risk through a performance bond shifts the financial consequence to the supplier or a third party if the supplier fails to deliver.

Question 2

During risk quantification, a project manager calculates that a risk has a 30% probability of occurring and would cost $50,000 if it does. What is the Expected Monetary Value (EMV)?

Accepted Answer

$15,000

Answer

EMV = Probability × Impact = 0.30 × $50,000 = $15,000.

Question 3

Which document serves as the primary input for the Identify Risks process?

Accepted Answer

Assumption log

Answer

The assumption log is a key input to Identify Risks because undocumented or false assumptions are a major source of project risk.

Question 4

A risk that has occurred and become an actual problem is called a:

Accepted Answer

Issue

Answer

When a risk event occurs and materializes, it becomes an issue that must be managed through the issue log.

Question 5

A project team implements a workaround. This means they are:

Accepted Answer

Responding to a risk that has no pre-planned response

Answer

A workaround is an unplanned response developed to address a risk or issue that did not have a pre-planned contingency response.

PMP - Project Management Professional Practice Test

PMP - Project Management Professional Practice Test

PMP Risk Management 2