Your company is evaluating two projects for consideration. Project A has a 40% probability of $69,000 US and a 60% probability of -$10,000 US. Project B has a 60% probability of $56,000 US and a 40% probability of -$15,000 US. Which of the projects would
you select based on the greatest expected monetary value?


A. Project A
B. Project B
C. Project A and B are of even value
D. The expected monetary value is not high enough on either to make a selection

The network project has been very challenging. The cost performance index is presently 0.95 and the schedule performance index is 0.91. Risk could have been managed better from the start of this project. Halfway through the execution of the project
management plan, the Project Manager assigned one person to do nothing but monitor for risks and work with the people who implemented the risk response plans. What would be a main goal to achieve from Risk Monitoring and Controlling?


A. Qualitative analysis
B. Corrective action
C. Overall Risk ranking for the project
D. Quantitative analysis

The advertising agency has been awarded a $54M US, 8-year contract to manage the advertising campaigns of a fast food chicken restaurant. The company realizes that this work is going to require a specific skill set for 40 people. Their current workforce only
has 7 people with this skill set. This skill set is somewhat rare and specialized in the area they are located. They have chosen to buy a company much smaller than they are, but this company's core focus is this type of skill set. The company employs 50 people
with this skill set. This is an example of what type of risk response strategy?


A. Exploit
B. Share
C. Mitigate
D. Accept

The Project Manager and team are planning the project. They are presently identifying things that could go differently than planned. They are also trying to identify warning signs that would show that these events could be on the verge of occurring. What is the
team doing?


A. Risk analysis
B. Risk Identification
C. Conformance to quality
D. Problem solving

The team has implemented a risk response plan when a vendor was unable to fulfill a contract commitment. The response was to choose another vendor. Because of the short notice, the other vendor cannot fulfill the need of the team. Which best describes what
happened with the different vendor?


A. Workaround
B. Secondary risk
C. Risk response plan
D. Avoidance

In defining a risk trigger, which of the following is most accurate?


A. A trigger is an indicator that a risk event will occur
B. A trigger is the same as a risk
C. A trigger is an indicator that a risk event has occurred
D. A trigger is an indicator that a risk event could occur

The software development company has recently been awarded a large contract to create a new animation software program. This will require the company to move into a new office complete with production facilities twice their current size. The schedule is tight
for this new project. The new facility is behind schedule with the cubicles and network wiring on pace to finish three weeks late. If this can't be done on time and will slip three weeks, the company has decided there is nothing it can do, and it will simply deal with
the consequences. This is an example of what type of risk response?


A. Accept
B. Avoid
C. Mitigate
D. Transfer

On the electric company project the government implemented a regulatory change associated with the electricity sub-station upgrade project that required the company to spend an additional $400,000 US on the project. This type of cost and activity best relates to
which of the following?


A. Known unknowns
B. Unknown unknowns
C. Management reserve
D. Risk management

The team has an approved charter and has started planning, determining potential risks that could occur on the project. Which of the following best describe project risk?


A. It can be a negative event only
B. It can be a positive event only
C. It can be either a negative or positive event
D. It can be something that has already happened

Crosswind Custom Homes is building a customer's dream house. However, rain has delayed the finish by two weeks. The Project Manager is evaluating options to make up the lost time. After discussing the various options with senior management, the Project
Manager has decided to fast track the project. By doing so, the Project Manager could be adding what to the project?


A. Risk
B. Scope change
C. Responsibility
D. Time change