Documented identification of a flaw in a project component together with a recommendation is termed a:

• A.corrective action.
• B.preventive action.
• C.non-conformance report.
• D.defect repair.

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In an effort to modernize the technology for a project, the project manager has been discussing risk prioritization with the project team. The project manager determines that additional parameters are needed to iteratively assess and prioritize the project risks.
Match the project manager's goals on the left with the relevant risk parameter on the right.

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Explanation

According to the PMBOK Guide, risk prioritization is the process of ranking the identified risks based on their potential effect on project objectives. Risk prioritization helps the project manager and the project team to focus their attention and resources on the most significant risks. Risk prioritization can be done using various parameters, such as probability, impact, urgency, proximity, detectability, and controllability. These parameters can be used to assess and compare the risks in an iterative manner, as the project progresses and new information becomes available. The project manager can also define additional parameters that are relevant to the project context and goals. In this scenario, the project manager has determined four additional parameters that can help to prioritize the project risks more effectively:
Assess how quickly the risk response needs to be implemented in order to be effective: This parameter evaluates the urgency of the risk, or how soon the risk must be addressed before it becomes unmanageable or irreversible. The project manager can use this parameter to identify the risks that need immediate attention or monitoring, and to plan the risk responses accordingly.
Assess the amount of time before the risk can impact one or more project objectives: This parameter measures the proximity of the risk, or how close the risk is to affecting the project outcomes. The project manager can use this parameter to determine the risks that have the most impact on the project objectives, and to prioritize them accordingly.
Assess if the risk is related to other individual project risks: This parameter analyzes the interrelationships among the project risks, or how the occurrence or outcome of one risk can influence or trigger another risk. The project manager can use this parameter to understand the complexity and interdependency of the project risks, and to develop risk responses that address the root causes and effects of the risks.
Assess how long after a risk has occurred before its impact is discovered: This parameter evaluates the detectability of the risk, or how easy or difficult it is to notice or measure the risk occurrence and consequences. The project manager can use this parameter to measure the uncertainty of the risk occurrence and detection, and to implement risk responses that enhance the risk awareness and visibility.
References: = PMBOK Guide, 7th edition, pages 230-231, 236-237.

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A project manager is finalizing the project charter and has invited the project sponsor and key stakeholders to confirm the project estimates. The project manager suggests adding a budget reserve to meet unforeseen risks, but the project sponsor disagrees.
What should the project manager do?

• A.Seek key stakeholders' approval and finalize the budget with the reserve.
• B.Explain to the project sponsor and key stakeholders the need to add the reserve and get their buy-in.
• C.Agree with the project sponsor and finalize the budget without the reserve.
• D.Demonstrate that risky projects are subject to change so adding reserves to the budget is a necessity.

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A multicultural team is working on a project. After a few months of observation, the project manager realizes that two teammembers are not responding tothe construction manager properly. The project manager spoke to the team members individually and found that both had cultural differences with the construction manager.
What should the project manager do to improve the situation?

• A.Ask the construction manager to meet with the two team members to resolve the situation.
• B.Ask the team members to tolerate the cultural differences as they have a different cultural background.
• C.Discuss the team members' concern with the construction manager and seek solutions.
• D.Provide the construction manager with instructions on how to resolve the situation.

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A project manager is working for an organization in country A and has been tasked with opening the first brick-and-mortar store in country B. The sponsor has identified the city for the store and wants to minimize any potential issues with the local government.
Which action should the project manager take to address the sponsor's request?

• A.Work with the organization's legal department to identify local regulations to ensure project compliance
• B.Work with the organization's project management office (PMO) to build a project team of residents located in the city
• C.Work with the organization's real estate department and reach out to the local government to identify the best location for the store
• D.Work with the local government to build the profiles of employees that will be working in the store

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