Who is ultimately responsible for monitoring a risk that is about to exceed its risk threshold?

• A.Any project stakeholder
• B.Project management office
• C.Senior manager
• D.Risk action owner

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You are preparing to complete the quantitative risk analysis process with your project team and several subject matter experts. You gather the necessary inputs including the project's cost management plan. Why is it necessary to include the project's cost management plan in the preparation for the quantitative risk analysis process?

• A.The project's cost management plan provides control that may help determine the structure for quantitative analysis of the budget.
• B.The project's cost management plan provides direction on how costs may be changed due to identified risks.
• C.The project's cost management plan is not an input to the quantitative risk analysis process.
• D.The project's cost management plan can help you to determine what the total cost of the project is allowed to be.

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Which form of communication minimizes misunderstandings and reinforces teamwork?

• A.Project archives
• B.Discussion threads
• C.Face-to-face discussions
• D.Status reports

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What approach can a project manager use to improve the project's performance during qualitative risk analysis?

• A.Focus on high-priority risks.
• B.Analyze as many risks as possible regardless of who initiated the risk event.
• C.Create a risk breakdown structure and delegate the risk analysis to the appropriate project team members.
• D.Focus on near-term risks first.

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Frank is the project manager of the NHH Project. He is working with the project team to create a plan to document the procedures to manage risks throughout the project. This document will define how risks will be identified and quantified. It will also define how contingency plans will be implemented by the project team.
What document is Frank and the NHH Project team creating in this scenario?

• A.Resource management plan
• B.Risk management plan
• C.Project plan
• D.Project management plan

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