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Download PMI Risk Management Professional Exam Dumps
NEW QUESTION 52
You work as a project manager for BlueWell Inc. You are currently working with the project stakeholders to identify risks in your project. You understand that the qualitative risk assessment and analysis can reflect the attitude of the project team and other stakeholders to risk. Effective assessment of risk requires management of the risk attitudes of the participants. What should you, the project manager, do with assessment of identified risks in consideration of the attitude and bias of the participants towards the project risk?
- A. Evaluate the bias through SWOT for true analysis of the risk events
- B. Evaluate and document the bias towards the risk events
- C. Evaluate the bias towards the risk events and correct the assessment accordingly
- D. Document the bias for the risk events and communicate the bias with management
Answer: C
NEW QUESTION 53
You are the project manager of the BJA Project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000.
Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time and cost additions to your project plan. What type of risk response is used?
- A. Avoidance
- B. Exploit
- C. Mitigation
- D. Acceptance
Answer: C
NEW QUESTION 54
Mary is the project manager of the HGH Project for her company. She and her project team have agreed that if the vendor is late by more than ten days they will cancel the order and hire the NBG Company to fulfill the order. The NBG Company can guarantee orders within three days, but the costs of their products are significantly more expensive than the current vendor. What type of a response strategy is this?
- A. Internal risk management strategy
- B. Expert judgment
- C. Contingent response strategy
- D. External risk response
Answer: C
NEW QUESTION 55
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