Project risk is defined as the cumulative effect of chances of _____ which will adversely affect project objectives.

• A.Uncertain occurrences
• B.Likely events
• C.Complex activities
• D.Complex schedules

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A risk was identified at the beginning of a project, and a response plan was established.
Unforeseen consequences resulted in a higher level of risk. The project manager has an idea that could address the new risk in an efficient way, but the response is different from the original risk mitigation plan.
What should the project manager do?

• A.Use the management reserve to mitigate the risk.
• B.Obtain management approval prior to implementing the new risk response.
• C.Submit the new response plan to the stakeholders for their review.
• D.Implement the new response to address the risk.

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If your project is under budget, your cost variance (CV) is:

• A.1
• B.Negative
• C.Positive
• D.-1

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A project team Is trying to meet the milestone target dates in order to receive a bonus promised by the project sponsor. Unforeseen challenges and poor communication among the team members resulted in mistakes and delays. Tensions are high, and the sponsor is concerned.
What should the project manager do?

• A.Discuss with the team how the project objectives can be met.
• B.Request that the sponsor increase the bonus for high performers.
• C.Schedule a team-building activity to boost the team's morale.
• D.Organize a team meeting to remind the team of the ground rules.

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A new project has high uncertainty in the cost required for completion. What approach should the project manager use to determine the expected costs?

• A.Three-point estimating
• B.Statistical techniques estimating
• C.Parametric estimating
• D.Analogous estimating

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