PMP Certification Training - Summary - Project Risk Management

The video tutorial covers project risk management, detailing seven key processes: planning, identifying, analyzing (both qualitatively and quantitatively), responding, and monitoring risks. Each process is explained, highlighting its purpose and methodology. The lesson concludes with a brief mention of the next topic, project procurement management.

Which of the following is NOT one of the seven processes of project risk management?

• Risk Elimination

• Risk Planning

• Risk Monitoring

• Risk Identification

What is the primary goal of performing qualitative risk analysis?

• To prioritize risks for further analysis or action

• To monitor risk response implementation

• To develop risk response strategies

• To eliminate all project risks

Quantitative risk analysis involves:

• Identifying new risks

• Numerically analyzing the effect of risks on project objectives

• Monitoring risk response effectiveness

• Developing risk response plans

Which process involves implementing agreed-upon risk response plans?

• Risk Identification

• Risk Monitoring

• Risk Response Implementation

• Qualitative Risk Analysis

What is the focus of the risk monitoring process?

• Tracking identified risks and evaluating risk process effectiveness

• Numerically analyzing risk impacts

• Developing new risk response strategies

• Identifying individual project risks