Question 121 · 204 in bank
Which of the following characteristics would a risk tolerant person or group demonstrate?
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Answer: D
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Which of the following characteristics would a risk tolerant person or group demonstrate?
Answer: D
A project manager and risk manager are working on a new hotel development project for their organization and have completed the risk analysis processes for the identified risks. They determined that the organization might not be able to handle the consequences of some of the high-priority risk items, and the project's objectives and designs cannot change. The team is preparing risk responses for these high-priority risks. Which risk response strategy will effectively manage these high-priority risks?
Answer: D
The trigger for a highly categorized threat has occurred. The risk has set a response plan. Who is responsible for developing responses to risk and monitoring the implementation status of the risk response?
Answer: B
During a weekly project review meeting, a stakeholder identifies some new risks. When creating risk responses for these newly identified risks, what should the project team do to discover trends and more efficiently manage the responses?
Answer: D
A project team is conducting initial risk planning. What other risk-related task should the project manager perform?
Answer: A
An external vendor needs to be contracted to provide additional capacity and expertise to a project team to reduce the probability of delays in a project. The contracts department is raising a concern about confidentiality risks not addressed in the proposed contract and missing from the risk register. What should the risk manager do next?
Answer: C
A company is executing a high-visibility project to develop mobile phone technology. The project sponsor is concerned that an overall high risk rating may undermine support for the project within the company. The sponsor has instructed the project manager to manipulate the data used for Monte Carlo simulation to artificially reduce the risk rating. What should the project manager do?
Answer: A
Face-to-face meetings are always better, especially if the sponsor asks for something unethical. However, I am still partial to sending an email to have some paper trail in case this situation gets out of hand, and you are penalized for not doctoring numbers
Source: Adapted from community discussion — RoyalWarrior
During a virtual workshop presenting a product to potential clients, a facilitator emails the product brochure and asks attendees to check their spam folder if the email does not appear in their inbox. What kind of threat strategy is the facilitator applying?
Answer: B
After a number of risk workshops, risks have been identified. Which is the first element the risk owner should look for in risk response plan to help mitigate the risks?
Answer: B
B. Verify due dates for the actions have been identified When developing a risk response plan, the risk owner should look for several key elements to help mitigate risks effectively. One important element to consider is the due dates for the actions that have been identified in the risk response plan. It is essential to establish clear and realistic due dates for the actions that are planned as part of the risk response. This will help to ensure that the risk response plan is executed effectively and that the risks are mitigated in a timely manner. The risk owner should verify that due dates for the actions have been identified and ensure that they are achievable and aligned with the project schedule. Other elements that the risk owner should consider when developing a risk response plan could include the probability of a response triggering a secondary risk, the impact on the quality of the components, and whether the risk response is tied to an activity on the critical path. By considering these elements
Source: Adapted from community discussion — IBANGA007
The project manager schedules a third workshop to facilitate the qualitative risk analysis. One team member complains that they should not have iterative meetings, but rather, should complete this at the beginning of the project. Which of the following should the project manager do?
Answer: D
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