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What is the total contingency budget that should be created?
As per the risk analysis process carried out for a project, two risks are registered. The probability risk A will occur is 40% and its monetary impact to the project is US$100,000. The probability risk B will occur is 60% and its monetary impact to the project is US$20,000 ....
What should the risk manager do to handle this situation?
During project planning, a risk is identified for which the risk manager has defined a mitigation strategy. Later during project execution, this risk still leaves substantial residual risk. What should the risk manager do to handle this situation?A . Revisit this risk in the risk register and redefine the mitigation...
How should a risk manager increase stakeholder risk appetite?
Project stakeholders can often be risk averse with little to no knowledge of the risk process . How should a risk manager increase stakeholder risk appetite?A . Exclude risk averse stakeholders from future risk discussionsB . Explain risk handling and mitigation strategiesC . Increase the impact of all risks in...
With several different historical project files to choose from, which two pieces of information should the project manager include in their risk checklist?
A project manager is identifying risks on a project and decides to use a risk checklist to gather historical data accumulated from similar projects. With several different historical project files to choose from, which two pieces of information should the project manager include in their risk checklist? (Choose two.)A ....
How should the project manager work with these risk handling strategies?
A project manager wants to work on understanding the project risks. The project manager works with the integrated project team to develop the risk handling strategies for the identified risks . How should the project manager work with these risk handling strategies?A . Review and revise the strategies periodically.B ....
What should the risk management team leader do in the early stages of the project?
An organization that spans across different countries undergoes a digital transformation project. The project manager has assigned a risk management team leader who is a risk management certified candidate in their domain. What should the risk management team leader do in the early stages of the project?A . Conduct qualitative...
A company is preparing a formal response to bid for an infrastructure engineering, procurement, and construction project. When should a risk register be developed to identify risks?
A company is preparing a formal response to bid for an infrastructure engineering, procurement, and construction project. When should a risk register be developed to identify risks?A . During the project execution phase to allow the project manager to understand the risk attitudes of stakeholders.B . When a client project...
What should the risk manager do?
A risk manager faces resistance as they try to implement the project's risk strategy. Some members of the project team believe it is a waste of time and money. What should the risk manager do?A . Continue to implement the risk strategyB . Meet with team members to address their...
What should the project manager do next?
Multiple new risks have come up on a project that were not included on the risk register. The project manager met with the team to explain that risk management is critical for the success of the project, and risk identification is key. What should the project manager do next?A ....
What should the project manager do?
Upon reviewing the risk analysis results, the project manager notices several risks that occur more frequently than others . What should the project manager do?A . Reduce the probabilities of those risks on the risk registerB . Transfer ownership of those risks to the customerC . Implement the risk handling...
