Project Risk Management Risk Monitoring and Control 2

Question 1

Which tool is primarily used to track the status of identified risks and monitor residual risks throughout the project?

Accepted Answer

Risk register

Answer

The risk register is the primary document for tracking identified risks, responses, owners, and current status throughout the project lifecycle.

Question 2

A project manager discovers a risk that was not identified during initial planning. What should be done first?

Accepted Answer

Add it to the risk register and analyze it

Answer

Newly identified risks should be added to the risk register and then analyzed for probability and impact before determining a response.

Question 3

What is a 'risk trigger' in the context of risk monitoring and control?

Accepted Answer

An indicator that a risk is about to occur

Answer

A risk trigger (also called a warning sign or symptom) is an event or condition that indicates a risk is about to occur or has occurred.

Question 4

Which of the following best describes 'workarounds' in risk monitoring?

Accepted Answer

Unplanned responses to risks that were not anticipated or mitigated

Answer

Workarounds are unplanned responses developed on the spot when a risk occurs that was either not identified or had no planned response.

Question 5

During a risk audit, the project team evaluates the effectiveness of risk responses. Who typically facilitates this audit?

Accepted Answer

An independent auditor or the project manager

Answer

Risk audits can be facilitated by the project manager or an independent auditor to objectively evaluate how well risk responses have worked.

Project Risk Management Practice Test