You and your project team are identifying the risks that may exist within your project. Some of the risks are small risks that won't affect your project much if they happen. What should you do with these identified risk events?

• A.These risks can be accepted.
• B.These risks can be added to a low priority risk watch list.
• C.These risks can be dismissed.
• D.All risks must have a valid, documented risk response.

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Due to lack of specific knowledge within a technical domain, the project manager decides an expert from outside the organization should be invited into the project to identify and analyze risks. The project manager understands that the risk management process has many benefits, but it will also have clear costs.
Which of the following should the project manager do?

• A.Determine that the benefits outweigh the costs where risk is involved.
• B.Hire experts as needed.
• C.Identify internal resources with proper knowledge, and keep costs down.
• D.Hire a specialized risk analysis consulting company.

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Pete works as a project manager for BlueWell Inc. The Management has told him that he must implement an agreed-upon contingency response if the cost performance index in his project is less than 0.90. Consider that Pete's project has a budget at completion of $275,000. His project is 65 percent complete and he has spent $175,000 to date. However, Pete is scheduled to be 78 percent complete. What is the cost performance index for this project to determine if the contingency response should happen?

• A.0.96
• B.1.02
• C.0.90
• D.0.89

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Which of the following processes involves choosing the alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan?

• A.Scope Change control
• B.Integrated Change control
• C.Monitor and Control risk
• D.Configuration Management

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A project's risk manager successfully implements the risk management plan and the risk register. Furthermore, the risk analysis and the risk response planning are finalized. All results have been documented, and the project management plan and other project documents have been updated accordingly.
What should the risk manager do next?

• A.Perform a lessons learned document update with the defined risks.
• B.Perform risk date quality assessments.
• C.Perform continuous risk re-evaluation throughout the project life cycle to ensure risk management effectiveness.
• D.Perform regular reserve analysis to ensure that the assigned risk reserve budgets are sufficient.

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