1. The project team performed a high-level risk assessment and identified the risks shown in the table. This type of information can be found in which of the following?
| risk | Probability | influences |
| Part reliability | 0.3 | 3 |
| Multiple questions | 0.8 | 4.5 |
| Skill level of technical staff | 0.6 | 4 |
| Parts availability | 0.4 | 4 |
| natural disaster | 0.4 | 1.5 |
| Equipment environment | 0.9 | 1.5 |
| Ineffective error monitoring | 0.3 | 2.5 |
| lack of resources | 0.15 | 4.5 |
A. Risk assessment log
B. Risk Event Log
C. Risk register
D. Risk Chart
Correct answer: C
Analysis: In risk management, in addition to planning the risk management process, almost all the output of the risk process must be recorded in the risk register. The title table shows the probability and impact of the risk, which may be qualitative or quantitative, but both qualitative and quantitative results should be recorded in the risk register. Note: A and B options are unfamiliar words, and D is unclear and I don't know what it refers to.
2. The total cost of the project is USD 200,000. The project management office requested a study to verify whether the project will fall behind schedule. There is a 35% chance that the project will be fined $20,000 due to delays in completion. There is a 65% chance that the company will make a profit of $500,000 in the project. What is the expected monetary value?
A. USD 118,000
B. USD 293,000
C. USD 318,000
D. USD 325,000
Correct answer: A
Analysis: The expected currency value (EMV) calculation for this question. For this question, EMV=200,000+(-20000*35%)+500,000*65% = 118,000 U.S. dollars, choose A.
3. The project manager faces the following new risks and opportunities:
Risk A has a 90% probability and will cost $50,000
Risk B has a 30% probability and will cost $300,000
Opportunity A has a 50% probability and will save $100,000
Opportunity B has a 15% probability and will save $125,000
Using the expected monetary value analysis, which risk and opportunity should the project manager consider first?
A. Risk A
B. Risk B
C. Opportunity B
D. Opportunity A
Correct answer: B
Analysis: The expected monetary value (EMV) calculation principle is that the impact of opportunity (positive value) is multiplied by the probability of opportunity, and the impact of threat (negative value) is multiplied by the probability of threat. Each EMV value of this question: Risk A=-45000; Risk B=-90000; Opportunity A=50000, Opportunity B=875000. In terms of opportunity, opportunity B should be considered first; in terms of threat, risk B should be considered first. To choose between opportunity B and risk B, risk B should be considered first; because its loss is greater than the benefit of opportunity B. Note that this question shows four risks, of which two opportunities and two threats, not two risks. We must first focus on the highest priority risk.
4. A newly appointed project manager confirms that the project meets the time and budget requirements. However, the deliverables of a supplier may be delayed. What should the new project manager do next?
A. Perform a quantitative risk analysis and determine how the risk must be addressed
B. Meeting with the supplier and requesting an immediate solution
C. Determine and evaluate the impact on project cost and schedule
D. Implement emergency plans to resolve the impact on the project schedule
Correct answer: C
Analysis: The topic scenario should be understood as what needs to be done after risk identification. After risk identification, the next step should be qualitative and quantitative analysis, so C is selected.
5. A storm damaged the data center and delayed the project. Since this is an accident, what should the project manager do next?
A. Use the management reserve fund to implement a contingency measure
B. Delay the project and wait for the management's decision
C. Update progress and notify the project sponsor
D. Meeting with the project team to discuss emergency response
Correct answer: A
Analysis: An accident (unknown unknown risk) is discovered and occurred, contingency measures should be implemented, and management reserves should be used. A is completely appropriate. The other three options have obvious errors, so they are not selected. B lacks proactiveness; C does not go through the change process and cannot update the progress; D emergency response generally refers to emergency response measures, only for known unknown risks, which do not match the subject.
6. The design team is aware of a risk that has been identified in the risk register. As a result, project expenditures will increase by 15%. What should the project manager do next?
A. Implement the risk response measures identified in the risk management plan
B. Assemble the design team to discuss other options
C. Notify key stakeholders that a project risk affects the project budget
D. Reduce other tasks' expenditure by 15%, balance and keep within budget
Correct answer: B
Analysis: The description of the question is rather vague. It should be understood as: a known unknown risk has occurred, and it will take 15% more money to deal with it. What's next? A risk response plan should be implemented. However, option A is wrong, and the risk response measures are recorded in the risk register, not in the risk management plan. C and D are also wrong. The reserve reserved for known unknown risks is called emergency reserve, which is part of BAC and will not cause BAC to change. If the budget in C and D is understood as "BAC + management reserve", it will not change the budget. With the elimination method, only B can be selected.
7. At the weekly project audit meeting, the project manager discussed different types of project risks. Which of the following risk quantification techniques should be used?
A. Simulation
B. Probability influence matrix
C. Data quality assessment
D. Risk urgency assessment
Correct answer: A
Analysis: This question requires the selection of tools for quantitative risk analysis. B, C, and D are all tools for qualitative risk analysis. Only A is a tool for quantitative risk analysis. See PMBOK 11.3.2 and 11.4.2.
8. When creating probability and impact matrices to support project risk analysis, what do the project teams consider most important?
A. Project scope and project deliverables
B. Schedule and budget contingency and reserve
C. Possible impact on project goals
D. Interactions that will occur in the project
Correct answer: C
Analysis: This question is from PMBOK 11.3: "The process of prioritizing risks by evaluating the probability and impact of individual project risks and other characteristics when implementing qualitative risk analysis, so as to provide a basis for subsequent analysis or actions", so C is more accurate . Note that the "probability and impact matrix" is the main tool for implementing qualitative risk analysis. Therefore, the topic should be understood as: What is the purpose or focus of the qualitative risk analysis?
9. The project team expects that the key equipment shipped from abroad will arrive on the expected planned date. However, bad weather occurred during transportation. Severe weather has previously been identified as a risk. A team member worried that the equipment would not arrive on time. What should the project manager do next?
A. Arrange a team meeting to update the risk register and treatment
B. Submit a change request to the change control board for corrective actions
C. Contact the transportation company to get a confirmed delivery date
D. Implement the emergency plan in the risk management plan
Correct answer: A
Analysis: The scenario described in this question is: a previously identified risk has occurred. In accordance with risk management routines, measures should be taken. Use the exclusion method to find the answer among the four options. D can be eliminated, and the fault lies in the "risk management plan"; C is left as it is, and no measures are taken, which is not the best option; there is a problem with the statement B, at least the risk response plan should be submitted to CCB for approval , Instead of obtaining corrective measures from CCB; A can be understood as: update the risk register and update risk response measures, or understand: update the risk register and deal with the risk, update the risk status in the risk register after the risk occurs, and Updating countermeasures based on specific circumstances is a normal procedure.
10. If the organization wants to ensure that it seizes a high-priority opportunity, and raises the probability of this opportunity to 100%, to ensure that it will definitely appear, so as to obtain related benefits, this kind of risk response method is called:
A. Report
B. Pioneering
C. Improve
D. Accept
Correct answer: B
Analysis: PMBOK 11.5.2.5 makes a clear distinction between improvement and development. Development emphasizes 100% seizing opportunities and dispatching the most capable resources; increasing emphasis on increasing the probability of seizing opportunities, there is a clear difference in the degree of the two.