You work as a project manager for BlueWell Inc. You are involved with the project team on the different risk issues in your project. You are using the applications of IRGC model to facilitate the understanding and managing the rising of the overall risks that have impacts on the economy and society. One of your team member wants to know that what is the need to use the IRGC. What will be your reply?

1. A. IRGC addresses questions such as the understanding of the secondary impacts of a risk.
2. B. IRGC models aim at building robust, integrative inter-disciplinary governance models for emerging and existing risks.
3. C. IRGC addresses the development of resilience and the capacity of organizations and people to face unavoidable risks.
4. D. IRGC is both a concept and a tool.

Correct Answer: B

Linda is the project manager of the NAB Project. One of the risks her project team has identified is too dangerous for the project team to manage internally so she has hired a vendor to complete this portion of the project and to manage the identified risk. What risk response has Linda used in this instance?

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

Correct Answer: A

The Project Risk Management knowledge area focuses on which of the following processes? Each correct answer represents a complete solution. Choose all that apply.

1. A. Quantitative Risk Analysis
2. B. Risk Monitoring and Control
3. C. Potential Risk Monitoring
4. D. Risk Management Planning

Correct Answer: ABD

Beth is a project team member on the JHG Project. Beth has added extra features to the project and this has introduced new risks to the project work. The project manager of the JHG project elects to remove the features Beth has added. The process of removing the extra features to remove the risks is called what?

1. A. Preventive action
2. B. Corrective action
3. C. Scope creep
4. D. Defect repair

Correct Answer: A

You are project manager for ABD project. You, with your team, are working on the following activities:
Probabilistic analysis of a project.
Probability of achieving cost and time objectives. Trends in Qualitative Risk Analysis results.
On which of the following processes are you working on?

1. A. Plan Risk Management
2. B. Perform Quantitative Risk Analysis
3. C. Perform Qualitative Risk Analysis
4. D. Identify Risks

Correct Answer: B