Assessing the probability and consequences of identified risks to the project objectives, assigning a risk score to each risk, and creating a list of prioritized risks describes which of the following processes?

• A.Qualitative Risk Analysis
• B.Plan Risk Management
• C.Identify Risks
• D.Quantitative Risk Analysis
• E.Explanation:
  The purpose of qualitative risk analysis is to determine what impact the identified risk events will have on the project and the probability they'll occur. It also puts risks in priority order according to their effects on the project objectives and assigns a risk score for the project.
• F.is incorrect. This process does not involve assessing the probability and consequences of identified risks. Quantitative analysis is the use of numerical and statistical techniques rather than the analysis of verbal material for analyzing risks. Some of the quantitative methods of risk analysis are: Internal loss method External data analysis Business process modeling (BPM) and simulation Statistical process control (SPC) Answer:C is incorrect. It involves listing of all the possible risks so as to cure them before it can occur. In risk identification both threats and opportunities are considered, as both carry some level
  of risk with them.

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You are the project manager for Bluewell Inc. You are studying the documentation of project plan. The documentation states that there are twenty-five stakeholders with the project. What will be the number of communication channel s for the project?

• A.20
• B.100
• C.50
• D.300

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Your project team has completed the quantitative risk analysis for your project work. Based on their findings, they need to update the risk register with several pieces of information. Which one of the following components is likely to be updated in the risk register based on their analysis?

• A.Listing of risk responses
• B.Risk ranking matrix
• C.Listing of prioritized risks
• D.Qualitative analysis outcomes

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When defining thresholds for control key performance indicators (KPIs), it is MOST helpful to align:

• A.control performance with risk tolerance of business owners
• B.information risk assessments with enterprise risk assessments
• C.the control key performance indicators (KPIs) with audit findings
• D.key risk indicators (KRIs) with risk appetite of the business

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You are the project manager of GHT project. A risk event has occurred in your project and you have identified it. Which of the following tasks you would do in reaction to risk event occurrence? Each correct answer represents a part of the solution. Choose three.

• A.Monitor risk
• B.Maintain and initiate incident response plans
• C.Update risk register
• D.Communicate lessons learned from risk events

Correct Answer: A,B,D

Explanation/Reference:
Explanation:
When the risk events occur then following tasks have to done to react to it:
Maintain incident response plans

Monitor risk

Initiate incident response

Communicate lessons learned from risk events

Incorrect Answers:
C: Risk register is updated after applying appropriate risk response and at the time of risk event occurrence.

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