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8. b. (2) The inputs used in the process of Perform Qualitative Risk Analysis includes all except. A. B Updated contingency reserves. PRINCE2® is a registered trade mark of AXELOS Limited. Likewise, the project manager is also responsible to decrease the probability and impact of threats and increase the probability and impact of opportunities. What informatio n can be obtained by reviewing the OIG work plan? Project Risk Management includes all of the following processes except: A. If a better response strategy cannot be identified, accepting the risk might be sufficient to proceed with the project. PMI®, PMBOK®, PMP® and PMI-ACP® are registered marks of the Project Management Institute, Inc. Risk management involves all of the following EXCEPT: a. The choices of response strategies for OPPORTUNITIES include: EXPLOIT: Add work or change the project to make sure the opportunity occurs, ENHANCE: Increase the probability and positive impact of risk events, SHARE: Allocate ownership of opportunity to a third-party. The risk associated with the unlikelihood that one of the key members will be struck by lightning would most likely be handled by which of the following? Whenever the project manager is responding to threats or opportunities: Execution of strategies must be time-bound, Effort selected must be appropriate to the severity of the risk, A single response can be an act of multiple risk events, A strategy can be selected not only by the project manager but also by the team, the stakeholders and experts. The risk management plan is an output of the Plan Risk Management process. Transfer. B. Active acceptance may involve contingency plans to be implemented if risk occurs and allocation of time and cost reserves to the project. Purchasing an accident insurance policy would be an example of responding to a risk by _____________ it. Definition of project risk Risk is an uncertain event or condition 2. Which of the following activities might you consider adding a time buffer to? The Plan Risk Response process produces this output, which may result in a review through the Perform Integrated Change Control process. All of the following are outputs of the Risk Response Planning process EXCEPT: Residual risks. D-)Unmanageable risks. 42 . RISK REASSESSMENTS: The process of periodically reviewing the risk management plan and risk register and adjust the documentation as required is termed as risk reassessment. It is not imperative that all risk be eliminated. Fall back plans: Specific actions that are taken if contingency plans (or risk response plans) are not effective, Reserves (contingency): Reserves are necessary for both time and cost risk. Plan Risk Management, Identify Risks, Assess Risks, Mitigate Risks, Transfer Risks, and Document Outcomes. Thus, risk planning involves identifying the most important risk events in advance, prioritizing them, and developing the appropriate risk response plans. Stakeholder risk tolerance. Which of the following groups should NOT be a part of the risk identification process? c. Return on investment for equipment purchases . Get the detailed answer: A Risk Response Matrix contains all of the following except A. 1. d. Diversity of staff . Similarly, the project managers should work to ensure that opportunities occur. Certified ScrumMaster® (CSM) is a registered trade mark of SCRUM ALLIANCE®. TriggerC. Trigger C. Who is responsible? All of the following activities are appropriate upon completion of risk response planning EXCEPT: The risk register should be baselined after planning is completed, and should not be updated once the project is in flight. Risk response is the process of controlling identified risks.It is a basic step in any risk management process. d. Diversity of staff . Risk appetite B. However, every time a risk response issuggested, another risk is identified that is caused by the response. Risk response is the process of controlling identified risks.It is a basic step in any risk management process. Microsoft and MS Project are the registered trademarks of the Microsoft Corporation. Identify Risks, Plan Risk Management, Evaluate Risks, Develop Risk Responses, Mitigate Risks, and Document Results. The risk assessment form contains all of the following EXCEPT A. Which of the following is NOT one of the potential responses to a specific risk event? All of the following are hygiene factors according to Herzberg’s Theory EXCEPT: A-)Salary. Knowledge Area: Risk Management. Likelihood of the risk event occurring. A project manager should review risk throughout the project. ITIL® is a registered trade mark of AXELOS Limited. Which of the following is identified to cover major unforeseen risks and, hence, are applied to the total project? Matthew Metheny, in Federal Cloud Computing (Second Edition), 2017. A decision to accept risk must be communicated to stakeholders. IASSC® is a registered trade mark of International Association for Six Sigma Certification. To a specific risk event plans to be implemented if risk occurs and allocation of and... Is the process of Perform Qualitative risk Analysis includes all of the following is not one the! Of International Association for Six Sigma Certification a time buffer to acceptance may involve contingency plans to be implemented risk. Decrease the probability and impact of threats and increase the probability and impact of threats and increase the and! Issuggested, another risk is identified that is caused by the response prince2® is a trade! 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