Question 1

During a risk identification process in a construction project, the lack of space to install air conditioners is raised as a risk with high impact. Which is an example of an early risk trigger?

Options :

A : A potential need to share the space with other machinery

B : A different type of equipment received before installation

C : A time delay during air conditioning installation activities

D : A quality nonconformance issue raised during the inspection

Answer: A

Question 2

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options. What should the risk manager do?

Options :

A : Perform a sensitivity analysis.

B : Perform a qualitative risk analysis.

C : Perform a constraint analysis.

D : Perform a root-cause analysis.

Answer: B

Question 3

An organization is embarking on a multi-million-dollar project with numerous identified risks. What should the project risk team do to navigate the risks on this project?

Options :

A : Go for a low-risk threshold of ±5% around a cost objective.

B : Confirm stakeholders risk thresholds based on risk appetites.

C : Conduct risk identification to populate the risk register.

D : Go for a high-risk threshold of ±10% around a cost objective.

Answer: C

Question 4

A project's design has been completed and approved on time. The construction subcontractor should be mobilizing to start construction but does not have the necessary materials in place, causing a delaying in the project. The risk register only contains risks for the design phase of the project. What should the project manager have done differently?

Options :

A : Executed the Monte Carlo sensitivity analysis prior to mobilization

B : Added generic construction risks to the risk register before construction began

C : Reviewed the assumptions/exclusions register in the project charter

D : Performed risk identification exercises for the full lifecycle of the project

Answer: D

Question 5

A project has a significant impact on an organization. Multiple stakeholders expressed concerns regarding the overall project risk during construction of the risk management plan, and they agreed that the risk appetite is low. What should the project risk manager monitor closely?

Options :

A : Risk thresholds

B : Risk response strategies

C : Risk management reports

D : Risk breakdown structure (RBS)

Answer: A