pm_5

Paul plans to use a systematic forecasting method to gather the opinions of a panel of experts on a problem the team is encountering. Which method will Paul employ?

• Root cause analysis

• Interviewing

• Brainstorming

• Delphi technique

The team is reviewing the overall project risk monitoring process and the effectiveness of risk response strategies so that the team can make adjustments for the remainder of the project. What action is the team taking?

• Contingency reserve review

• Risk reassessment

• Risk audit

• Quality audit

A team is reviewing risk responses. One response states that the project manager will contract an external Subject Matter Expert (SME) if internal skill sets are insufficient. The team recognizes that this response may lead to a risk of potential issues in selecting a vendor and schedule delays. What two types of risk are identified in this scenario?

• Threats

• Secondary risk

• Residual risk

• Opportunity

A team initiates a risk response to install all electrical equipment in a facility. There is a risk of documenting negative impact if the permit process runs long. They implement a response to pay an expedited fee to receive the permits on time. The permits arrive, but the team does not authorize part of the work to be accomplished. A new risk is added to the risk register. How is this risk classified?

• Risk audit finding

• Secondary risk

• Residual risk

• Risk defect

A recently completed risk audit discloses several new risks resulting from implementing a risk response. The response attempts to mitigate a legal condition that led to potential fines. The response needs to be revised. Some fines are prevented, but other fines are incurred. The project manager documents a new risk because of this response failure. The team determines that the updated response could lead to new legal ramifications if executed. What two ways would you categorize these new risks?

• Secondary

• Watch

• Urgent

• Residual

A project manager conducts frequent brainstorming sessions to gather marketing information on new product offerings. Stakeholders complain that they need more time to prepare for these sessions and request an overview of what the team would brainstorm a few days before each meeting. Which technique would satisfy this need?

• Brain writing

• Root cause analysis

• Lessons learned

• Interviews

Which two statements are true regarding the need to perform periodic risk reassessments?

• All risks are known after risk planning

• Risk owners may discover new risks or current risk updates

• The project manager finalizes risk scores at the beginning of the project

• The risk monitoring process may require updates

What is the primary purpose of a periodic risk audit?

• Determine risk ownership and assign tasks

• Evaluate the effectiveness of the monitor risk process

• Update the risk register as new risks are discovered

• Discover secondary risks and update the risk register

Project managers normally conduct risk audits during which project lifecycle phase or process group?

• Monitoring and controlling

• Affirm

• Planning

• Executing

A lifecycle is a series of phases a project passes through to meet project requirements. On which methodology is the current Project Management Institute (PMI) predictive lifecycle based?

• PDCA

• PDCL

• DMADV

• DMAIC