Der Vortrag „PMP - Risk Management“ von Whizlabs Software ist Bestandteil des Kurses „Project Management Professional - Training“. Der Vortrag ist dabei in folgende Kapitel unterteilt:
The amount of contingency reserve required for a project is calculated as part of which of the following processes?
In a s/w development project, the application has been deployed in a test environment to observe the performance of the application. This is an example of which technique?
The project management team is defining the scale of impact analysis of the risk factors. Which process is being performed here?
Risk factors arising from the risk response strategies of another risk factor is called:
The risk factors for which the project team creates a predefined strategy to respond is called:
John has joined as the Project Manager of a project. One of the project documents available to John identifies all the risks in a hierarchical fashion. What is this document called?
Which of the following statements is true about risks?
An organization has a non-linear cardinal scale for risk impact. This means:
A project lost 10 productive days due to bad weather. In order to make up for the lost time, the project management team calls for an emergency meeting and decides to apply Fast-tracking as a schedule compression technique. This is an example of:
You are deciding whether to execute a project in-house or contract it out. If you decide to do the project yourself, there is a 40% probability of making a profit of $20000, a 50% probability of making a profit of $24000 and a 10% probability of making a loss of $10000. What is the EMV (Expected monetary value) of the Self execute decision?
You have bought an annual-maintenance-contract for out-of-warranty test equipment. This is an illustration of which type of risk response strategy?
The project management team has decided to delay the start of execution phase of a building construction project siting the probable disruption of work during the rainy season. This is an illustration of which type of risk response strategy?
In the last project that a building construction company took up, there was a major design flaw identified after the build phase began. For a similar project, the project management team has decided to hire a team of experienced architects to review the design of the building before the design phase is complete. This is an illustration of which type of risk response strategy?
The project team is performing ‘Quantitative risk assessment’. All the following factors are to be considered, except:
The project team is performing ‘Quantitative risk assessment’. The team comes across a risk factor that has 50% probability of occurrence and a potential loss of 2000$ if occurred. What does the amount 1000$ would represent in this scenario.
Risk reassessment is part of which of the following risk management processes?
A prioritized list of “qualified risk” is part of which of the following?
Who can participate in the risk identification process?
During the ‘Control Risks’ process, we observe that most of the contingency budget has been consumed while responding to the very first risk that triggered. What’s the next course of action for the project manager?
The potential strategies to respond to risk factors are identified initially as part of which process?
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... Risks may be good or bad. 11.1 Plan Risk Management ... and execute the risk management activities for a project. The primary output of this process a Risk management plan, which should be based on features of a project, such as size, complexity ...
... creating a list of risks in a Risk register, and then documenting their causes and potential responses. Various information gathering techniques & diagramming techniques are used for this process. Such as: Brain Storming: Collection and categorization of comprehensive list of project risks. Delphi Technique: Project experts participate anonymously; Facilitator solicits ideas about project risks. Interviewing of Subject Matter Experts, experienced project managers. Root Cause Identification: Grouping ...
... The components, at this stage are: List of Identified risks, List of potential responses, Root causes of risk, Updated risk categories. This document is further updated with qualitative & quantitative risk analysis processes and finally response strategies. 11.3 Perform Qualitative Risk Analysis ...
... Examination of impact of uncertainty of each project element is done by keeping all other uncertain elements at their baseline values. One typical display of sensitivity analysis is the tornado diagram, which is useful for comparing relative importance of variables that have a high degree of uncertainty to those that are more stable. Expected Monetary Value Analysis: In this is technique, a statistical concept is used to calculate the average outcome of threats ...
... Transfer: Transferring the risk gives another party responsibility for its management; it does not eliminate it. This is also called Deflection. Example: The use of a fixed price contract transfers the risk to the seller from buyer. This strategy is most effective when dealing with financial risk. Mitigation: An action to reduce the probability and/or impact of an adverse risk event to an acceptable threshold. ...
... Work Around: An unplanned response to get over/mitigate the risk. Workarounds should be less frequent than contingency plans. Risk Trigger: An indication that a risk has occurred or is about to occur. Risk Response: The planned series of efforts or events that are to occur in the event of a risk trigger being recognized or identified. ...