The risk of any event is a product of the Select one: O a. probability of the event happening and the possible magnitude of the impact. O b. probability of the event happening and the probability of the event not happening. O c. probability of the event not happening and the possible magnitude of the impact. O d. probability of the event happening and a random value for magnitude of happening. Clear my choiceQuestion 3 Which one of the Interpersonal & team skills is used in Risk Not yet Identification? answered Marked out of Select one: 1.00 O a. Brainstorming Flag question O b. SWOT analysis O c. Interviews Ad. Facilitation Clear my choiceQuestion 2 The most reliable method for capturing the risks comprehensively, Not yet is to base your analysis on _. answered Marked out of Select one: 1.00 O a. Project Breakdown Structure P Flag question O b. Work Breakdown Structure O c. Team Breakdown Structure O d. Organisation Breakdown Structure Clear my choiceQuestion 5 An increasing trend in procurement is to have "trial engagement". It Not yet means that. answered Marked out of Select one: 1.00 O a. the project will engage several candidate sellers for initial F Flag question deliverables and work products on a paid basis before making the full commitment to a larger portion of the project scope. O b. the project will threaten one candidate sellers to complete the work at a rate dictated by the purchaser otherwise the purchaser will take the vendor for a trial in court. O c. the project will engage one candidate sellers for initial deliverables and then another one for the next work products and so on, on an unpaid basis until all the work packages are completed. O d. the project will engage one candidate sellers for initial deliverables and then another one for the next work products and so on, on a paid basis until all the vendors are tried and tested. Clear my choiceQuestion 4 A project team allocates a weight of 3 to a risk event. The team is Not yet most likely working on: answered Marked out of Select one: 1.00 O a. Risk Identification P Flag question O b. Risk Management Planning O c. Qualitative Risk Analysis O d. Quantitative Risk Analysis Clear my choiceQuestion 7 You have a team of 12 members. It is very unlikely that all the team Not yet members quit the project at the same time. This needs to be answered provided for in your contingency estimates for the project. You will Marked out of add the likely cost impact in: 1,00 Flag question Select one: O a. Activity Cost Estimate O b. Management Reserve O c. Work Package Contingency Reserve O d. There is no need to worry about such unlikely scenarios. Clear my choiceQuestion 6 Which statement about Monte Carlo analysis below is not correct? Not yet answered Select one: Marked out of O a. It is a tool used for simulation 1.00 O b. The simulation uses the project cost estimates. Flag question O c. When running a Monte Carlo analysis for schedule risk, the schedule network diagram and duration estimates are used. O d. It is a tool for Qualitative Analysis Clear my choiceQuestion 9 You are managing a 800-million-dollar highway project, which also Not yet needs constructing a building for the waiting facility midway answered through the highway's length. The building is of very regular and Marked out of standard specification, as has been built at dozens of places across 1.00 Ontario. You are negotiating a contract to construct this road Flag question overbridge through another company which specialises in road overbridge construction. Which one of the following will be your preferred type of contract, considering that you want to transfer your entire risk of the road overbridge to the contractor? Select one: O a. Time and Material O b. Firm Fixed Cost O c. Fixed Price Incentive Fee O d. Cost plus percentage cost Clear my choiceQuestion 8 Manaswi has taken over as project manager of a $7 million project. Not yet She wants to know the deliverables and expected results from answered vendors and suppliers. She should consult: Marked out of 1,00 Select one: Flag question O a. The Statement of Works O b. The vendor and supplier representative O c. The Procurement Management Plan d. Contracts with vendors and suppliers Clear my choiceQuestion 10 An RBS is a representation of potential sources of risk Not yet answered Select one: Marked out of O a. structured 1.00 O b. hierarchical Flag question O c. analytical O d. systematic Clear my choiceQuestion 12 Which of the following statements is NOT correct about Perform Not yet Qualitative Risk Analysis? answered Marked out of Select one: 1.00 O a. In an agile development environment, the Perform Flag question Qualitative Risk Analysis process is conducted at the end of each iteration. O b. Perform Qualitative Risk Analysis lays the foundation for Perform Quantitative Risk Analysis if this process is required. O c. Perform Qualitative Risk Analysis establishes the relative priorities of individual project risks for Plan Risk Responses O d. Perform Qualitative Risk Analysis identifies a risk owner for each risk who will take responsibility for planning an appropriate risk response and ensuring that it is implemented. Clear my choiceQuestion 13 established organisations have a generic RBS to be used Not yet for all projects, or there may be several RBS frameworks for answered different types of projects, Marked out of 1.00 Select one: F Flag question O a. Most O b. Every O c. Only O d. No Clear my choiceQuestion 11 You are working on risk identification for your project. It is a Not yet brainstorming session. Which of the following will you not include answered in your invitation list for the meeting? Marked out of 1.00 Select one: Flag question O a. Project Risk Specialist O b. Project team members. c. Customer. O d. You will include all the other three. Clear my choiceQuestion 14 It is possible that there are some risks which are common to many Not yet Work Packages. Which one of the following statements is the least answered accurate? " We may club these common risks Marked out of 1.00 Select one: P Flag question O a. If the impact may be different, these should be kept at an appropriate level. O b. only if the impact is expected to be the same across all WPs O c. without any further consideration O d. at Control Account (CA) level, at Project Level, at Programme Level or even at Enterprise Level. Clear my choiceQuestion 15 Your hardware vendor left you a voicemail saying that a snowstorm Not yet will prevent your equipment from arriving on time. You have answered identified a risk response strategy for this risk and have arranged Marked out of for a local company to lease you the needed equipment until your 1.00 equipment arrives. This is an example of which risk response Flag question strategy? Select one: O a. Transfer O b. Mitigate O c. Acceptance O d. Avoid Clear my choice