Joyce is the project manager for her company. Joyce and her project team are working through the quantitative analysis for certain risk events within her project. According to the enterprise environmental factors the project manager is to perform sensitivity analysis on any risk with an impact greater than $5,000 in the project. What is the sensitivity analysis?

• A.It determines which risk events have the most potential impact on the project.
• B.It uses rounds of anonymous surveys to predict probability and impact.
• C.It uses round of anonymous surveys to predict which events are most likely to happen.
• D.It determines possible combinations of risk events to predict overall project success, failure, or probability of achieving project objectives.

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You are the project manager for the NHQ Project. This project requires that you install 140 copies of design software onto your department's computers. The vendor offers you a twenty percent discount on the software if your company will purchase 150 or more copies of the software. You communicate this offer with other departments in your firm to see if anyone else would need 10 copies of the software to save your project a significant amount of funds. What is this risk response called?

• A.Exploiting
• B.Sharing
• C.Avoidance
• D.Transference

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You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?

• A.Quantitative analysis
• B.Qualitative risk analysis
• C.Rolling wave planning
• D.Historical information

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Don is the project manager of the PFO project for his organization. Don is working with the project team members and two subject matter experts to assess the identified risk events in the project. Which of the following approaches is the best to assess the risk events in the project?

• A.Probability and Impact Matrix
• B.Determination of the true cost of the risk event
• C.Interviews or meetings
• D.Root cause analysis

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Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?

• A.Risk audit
• B.Corrective action
• C.Technical performance measurement
• D.Earned value management

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