David is the project manager of the NKL Project for his organization. He has been asked to create a proposal for a construction project for a client. David realizes that there are several requirements within the SOW and RFP provided by the client that would eliminate his company from bidding on the construction project. David proposed to management that his organization create a partnership with a competitor so that together they could bid on the construction project and qualify for the customer's requirements. What risk response is David proposing to management?

1. A. Exploiting
2. B. Teaming agreement
3. C. Transference
4. D. Sharing

Correct Answer: D

You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved. What diagramming technique are you using as a part of the risk identification process?

1. A. Cause and effect diagrams
2. B. System or process flow charts
3. C. Predecessor and successor diagramming
4. D. Influence diagrams

Correct Answer: A

Tom is the project manager of the GGG project for his company. He is working with the project team on the Perform Qualitative Risk Analysis process. Tom is having the project team to review the project scope statement as an input to the qualitative risk analysis process. Why?

1. A. The project scope statement must be understood to see the project requirements and the inherent risks of the project.
2. B. The project scope statement will reveal the type of project as either a recurrent or first- of-its-kind project.
3. C. The project scope identifies the risks associated with project constraints.
4. D. The project scope statement must be reviewed to understand the quality requirements and the risks associated with the demand for quality.

Correct Answer: B

Harry is the project manager of the MMQ Construction Project. In this project, Harry has identified a supplier who can create stained glass windows for 1,000 window units in the construction project. The supplier is an artist who works by himself, but creates windows for several companies throughout the United States. Management reviews the proposal to use this supplier and while they agree that the supplier is talented, they do not think the artist can fulfill the 1,000 window units in time for the project's deadline. Management asked Harry to find a supplier who can fulfill the completion of the windows by the needed date in the schedule. What risk response has management asked Harry to implement?

1. A. Mitigation
2. B. Acceptance
3. C. Avoidance
4. D. Transference

Correct Answer: A

_____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

1. A. Expert judgment
2. B. Expected monetary value
3. C. Sensitivity
4. D. Modeling and simulation

Correct Answer: B