PROJECT RISK MANAGEMENT

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The Key processes of Project Risk Management are: Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, Implement Risk Responses, and Monitor Risks.

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Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, Implement Risk Responses, and Monitor Risks.

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Strategies typically used to deal with threats or risks that may have negative impacts on project objectives if they occur include all of the following EXCEPT: Avoiding, Transferring, Mitigating

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Interpreting

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Risk transference nearly always involves: Payment of a risk premium to the party taking on the risk.

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Payment of a risk premium to the party taking on the risk.

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In the Plan Risk Responses process, an accept strategy for a negative risk or threat indicates that the project team has decided:

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Not to change the project management plan to deal with a risk, or it is unable to identify any other suitable response strategy.

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The primary output of the Identify Risks process is the:

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Risk register.

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All of the following are inputs to the Identify Risks process EXCEPT: Risk management plan, Scope baseline, Quality management plan.

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Risk mitigation plan.

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Outputs from the Plan Risk Responses process include all of the following EXCEPT: Change requests, Project documents updates, Project management plan updates.

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Corrective actions.

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Tools and techniques of the Perform Quantitative Risk Analysis process include:

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Expert judgment, data gathering, simulations, and decision tree analysis.

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As an output of the Perform Quantitative Risk Analysis process, the risk register is updated. These updates generally include:

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Prioritized list of quantified risks.

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The outputs from the Monitor Risks process include all of the following EXCEPT: Project documents updates, Change requests, Project management plan updates.

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Work breakdown structure (WBS).