PMP Risk Management 4

Question 1

A project manager assigns a risk owner for each risk in the risk register. What is the PRIMARY responsibility of a risk owner?

Accepted Answer

Monitoring the risk and implementing the agreed response

Answer

A risk owner is responsible for monitoring the risk and executing the planned response strategy if the risk materializes.

Question 2

During project execution, the project manager observes that risk triggers are appearing for a high-priority risk. What should the project manager do NEXT?

Accepted Answer

Implement the planned risk response

Answer

When a risk trigger occurs, the pre-planned risk response should be executed as documented in the risk register.

Question 3

Which of the following is an example of risk sharing as a response to an opportunity?

Accepted Answer

Partnering with another company to jointly develop a new technology

Answer

Sharing an opportunity involves partnering with a third party who is better positioned to capture the benefit of the opportunity.

Question 4

A project has a 70% chance of finishing on time, which would earn a $100,000 bonus, and a 30% chance of being late, incurring a $50,000 penalty. What is the overall EMV?

Accepted Answer

$55,000

Answer

EMV = (0.70 × $100,000) + (0.30 × -$50,000) = $70,000 - $15,000 = $55,000.

Question 5

What is a secondary risk?

Accepted Answer

A risk that arises as a direct result of implementing a risk response

Answer

Secondary risks are new risks that are created as a byproduct of implementing a risk response strategy.

PMP - Project Management Professional Practice Test

PMP - Project Management Professional Practice Test

PMP Risk Management 4