Which of the following BEST measures the efficiency of an incident response process?

• A.Average time between changes and updating of escalation matrix
• B.Number of incidents lacking responses
• C.Average gap between actual and agreed response times
• D.Number of incidents escalated to management

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A part of a project deals with the hardware work. As a project manager, you have decided to hire a company to deal with all hardware work on the project. Which type of risk response is this?

• A.Transference
• B.Mitigation
• C.Avoidance
• D.Exploit
• E.Explanation:
  When you are hiring a third party to own risk, it is known as transference risk response. Risk transfer means that impact of risk is reduced by transferring or otherwise sharing a portion of the risk with an external organization or another internal entity. Transfer of risk can occur in many forms but is most effective when dealing with financial risks. Insurance is one form of risk transfer.
• F.is incorrect. The act of spending money to reduce a risk probability and impact is known as mitigation.
• G.is incorrect. Exploit is a strategy that may be selected for risks with positive impacts
  where the organization wishes to ensure that the opportunity is realized.

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Shelly is the project manager of the BUF project for her company. In this project Shelly needs to establish some rules to reduce the influence of risk bias during the qualitative risk analysis process. What method can Shelly take to best reduce the influence of risk bias?

• A.Establish risk boundaries
• B.Group stakeholders according to positive and negative stakeholders and then complete the risk analysis
• C.Determine the risk root cause rather than the person identifying the risk events
• D.Establish definitions of the level of probability and impact of risk event
• E.Explanation:
  By establishing definitions for the level of probability and impact a project manager can reduce the
  influence of bias.
• F.is incorrect. This is not a valid statement for reducing bias in the qualitative risk
  analysis.
• G.is incorrect. Positive and negative stakeholders are identified based on their position
  towards the project goals and objectives, not necessarily risks.

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During qualitative risk analysis you want to define the risk urgency assessment. All of the following are indicators of risk priority except for which one?

• A.Warning signs
• B.Symptoms
• C.Risk rating
• D.Cost of the project

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Marie has identified a risk event in her project that needs a mitigation response. Her response actually creates a new risk event that must now be analyzed and planned for. What term is given to this newly created risk event?

• A.Residual risk
• B.Secondary risk
• C.Infinitive risk
• D.Populated risk

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