Management has asked you to perform a risk audit and report back on the results. Bonny, a project team member asks you what a risk audit is. What do you tell Bonny?

1. A. A risk audit is a review of all the risks that have yet to occur and what their probability of happening are.
2. B. A risk audit is a review of the effectiveness of the risk responses in dealing with identified risks and their root causes, as well as the effectiveness of the risk management process.
3. C. A risk audit is a review of all the risk probability and impact for the risks, which are still present in the project but which have not yet occurred.
4. D. A risk audit is an audit of all the risks that have occurred in the project and what their true impact on cost and time has been.

Correct Answer: B

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

There are seven risk responses for any project. Which one of the following is a valid risk response for a negative risk event?

1. A. Enhance
2. B. Exploit
3. C. Acceptance
4. D. Share

Correct Answer: C

You are the project manager for TTP project. You are in the Identify Risks process. You
have to create the risk register. Which of the following are included in the risk register? Each correct answer represents a complete solution. Choose two.

1. A. List of mitigation techniques
2. B. List of key stakeholders
3. C. List of identified risks
4. D. List of potential responses

Correct Answer: CD

You are the project manager of the NNH project. In this project you have created a contingency response that the cost performance index should be less than 0.93. The NHH project has a budget at completion of $945,000 and is 45 percent complete - though the project should be 49 percent complete. The project has spent $455,897 to reach the 45 percent complete milestone. What is the project's cost performance index?

1. A. 1.06
2. B. 0.92
3. C. -$30,647
4. D. 0.93

Correct Answer: D