You are interviewing members of a project team to test their understanding of the assigned risk responses as risk owners. You and the project manager are working together to evaluate the risk responses to determine their effectiveness in the project. What project management technique are you performing with the project manager in this scenario?

1. A. Risk audits
2. B. Stakeholder analysis as the project team is a stakeholder
3. C. Risk identification with the project team
4. D. Risk analysis

Correct Answer: A

Which of the following components ensures that risks are examined for all new proposed change requests in the change control system?

1. A. Risk monitoring and control
2. B. Scope change control
3. C. Integrated change control
4. D. Configuration management

Correct Answer: C

Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?

1. A. Monitor and Control risk
2. B. Configuration Management
3. C. Integrated Change control
4. D. Scope Change control

Correct Answer: A

You work as a project manager for SoftTech Inc. You have implemented the risk action plan and it was not effective. What type of plan should you as a project manager will create for implementation if a selected risk strategy fails to be fully effective?

1. A. Mitigation management plan
2. B. Mitigation plan
3. C. Fallback plan
4. D. Risk response plan

Correct Answer: C

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?

1. A. The checklist analysis approach is fast but it is impossible to build and exhaustive checklist.
2. B. The checklist analysis approach saves time, but can cost more.
3. C. The checklist analysis approach only uses qualitative analysis.
4. D. The checklist is also known as top down risk assessment.

Correct Answer: A