PMP Ch 11 Risk Management Q&A

* Plan Risk Management

* Identify Risks

* Perform Qualitative Risk Analysis

* Perform Quantitative Risk Analysis

* Plan Risk Responses

* Control Risks

• process of Risk Management

• key output of the Plan Risk Management process

• key output of the Identify Risks process

• key outputs of the Perform Qualitative Risk Analysis process that are added to the risk register

Risk management plan

• key output of the Plan Risk Management process
• key output of the Identify Risks process
• key outputs of the Perform Qualitative Risk Analysis process that are added to the risk register
• key outputs of the Perform Quantitative Risk Analysis process that are added to the risk register

Risk Register

• key output of the Identify Risks process
• key outputs of the Perform Qualitative Risk Analysis process that are added to the risk register
• key outputs of the Perform Quantitative Risk Analysis process that are added to the risk register
• key outputs of the Plan Risk Responses process that are added to the risk register

* Risk ranking for the project

* Prioritized risks and their probability and impact ratings

* Risks grouped by category

* List of risks requiring additional analysis and response

* List of risks requiring analysis in the near term

* Watch list (noncritical risks)

• key outputs of the Perform Qualitative Risk Analysis process that are added to the risk register

• key outputs of the Perform Quantitative Risk Analysis process that are added to the risk register

• key outputs of the Plan Risk Responses process that are added to the risk register

• key outputs of the Control Risks process

* Prioritized list of quantified risks

* Initial amount of contingency time and cost reserves needed

* Possible realistic and achievable completion dates and project costs

* Quantified probability of meeting project objectives

* Trends in quantitative risk analysis

• key outputs of the Perform Quantitative Risk Analysis process that are added to the risk register

• key outputs of the Plan Risk Responses process that are added to the risk register

• key outputs of the Control Risks process

• key outputs of the Control Risks process that are added to the risk register

* Residual risks

* Contingency plans

* Fallback plans

* Risk owners

* Secondary risks

* Risk triggers

* Contracts

* Reserves for time and cost

• key outputs of the Plan Risk Responses process that are added to the risk register

• key outputs of the Control Risks process

• key outputs of the Control Risks process that are added to the risk register

• risk

* Work performance information

* Risk register updates

* Change requests

* Updates to the project management plan and project documents

* Updates to organizational process assets

• key outputs of the Control Risks process

• key outputs of the Control Risks process that are added to the risk register

• risk

• Key Factors that need to be determined for each risk

* Outcomes of risk reassessments and risk audits

* Results of implemented risk responses

* Updates to previous parts of risk management

* Closing of risks that are no longer applicable

* Details of what happened when risks occurred

* Lessons learned

• key outputs of the Control Risks process that are added to the risk register

• risk

• Key Factors that need to be determined for each risk

• Definition of Risk Appetite.

A future occurrence that may or may not happen that can have a positive (opportunity) or negative (threat) impact on the project

• risk
• Key Factors that need to be determined for each risk
• Definition of Risk Appetite.
• Definition of Risk Tolerance.

*Probability

*Impact

*Timing

*Frequency

• Key Factors that need to be determined for each risk

• Definition of Risk Appetite.

• Definition of Risk Tolerance.

• Definition of Risk Threshold.