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You work as the project manager for Bluewell Inc. There has been a delay in your project work that is adversely affecting the project schedule. You decide, with your stakeholders' approval, to fast track the project work to get the project done faster. When you fast track the project, what is likely to increase?

ARisks

BCosts

CQuality control concerns

DHuman resource needs

Correct Answer: 1

____ analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

AExpert judgment

BExpected monetary value

CSensitivity

DModeling and simulation

Correct Answer: 2

Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?

AThe quantitative risk analysis process will review risk events for their probability and impact on the project objectives.

BThe quantitative risk analysis seeks to determine the true cost of each identified risk event and the probability of each risk event to determine the risk exposure.

CThe quantitative risk analysis process will analyze the effect of risk events that may substantially impact the project's competing demands.

DThe quantitative risk analysis reviews the results of risk identification and prepares the project for risk response management.

Correct Answer: 3

Ben works as a project manager for the MJH Project. In this project, Ben is preparing to identify stakeholders so he can communicate project requirements, status, and risks. Ben has elected to use a salience model as part of his stakeholder identification process. Which of the following activities best describes a salience model?

AInfluence/impact grid, grouping the stakeholders based on their active involvement ('influence') in the project and their ability to affect changes to the project's planning or execution ('impact').

BGrouping the stakeholders based on their level of authority ('power') and their active involvement ('influence') in the project.

CGrouping the stakeholders based on their level of authority ('power') and their level or concern ('interest') regarding the project outcomes.

DDescribing classes of stakeholders based on their power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate).

Correct Answer: 4

You are the project manager for the NHH project. You are working with your project team to examine the project from four different defined perspectives to increase the breadth of identified risks by including internally generated risks. What risk identification approach are you using in this example?

ARoot cause analysis

BSWOT analysis

CInfluence diagramming techniques

DAssumptions analysis

Correct Answer: 5

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