![]() When estimating time for activities, a Project Manager should: Related read: Project Management Professional Exam Tips and Tricksġ3. Therefore, the project status report is not always an input to risk management. However, when completing risk management for the first time, you wouldn’t have the project status report yet. Project Status report can be an input to risk management. All of the following are ALWAYS inputs to the risk management process EXCEPT: Your contractor says that he cannot fulfill the terms of the contract due to a specific clause you both had signed the contract. ![]() ![]() An earthquake damaged your construction project. If a risk event has a 90 percent chance of occurring, and the consequences will be the US $ 10,000, what does the US $9,000 represent?ĮMV =. You must inform your boss about this relationship. There is a conflict of interest in this situation. You will try not to give the contract to him to prove your integrity.You will resign immediately from the bidding process.You will disclose this relationship to your management.You will pass some confidential info to him.During a bidder conference, you see that one bidder is your close friend. The project manager meets with the project team to review lessons learned from previous projects. Reference: The PMBOK® Guide, 5th Edition, Ĩ. A Program is a group of unrelated projects.A Program is a group of related projects.Which of the following statement is true about a Program? The RACI chart is an example of the Responsibility Assignment Matrix (RAM), which shows the relationship between activities and the team members. Responsible, Accountable, Consulted, Inform.Responsible, Accountant, Consulted, Inform.Recommended, Accountable, Consulted, Inform.Responsible, Accountable, Confirm, Inform.Reference: The PMBOK® Guide, 5th Edition,, Figure 11.1 Perform Qualitative Risk Analysis and Monitor and Control Risks.Identify Risks and Monitor and Control Risks.Perform Quantitative Risk Analysis and Identify Risks.The risk will be identified during which risk management process(es)? Escalation approval to use contingency fundingĥ.Additional resources using the contingency fund.What should the change request authorize? The project manager then issues a change request. However, the project manager realizes only 75% percent of the work has been completed. An accepted deadline for project approaches. ![]() If a risk has a 20 percent chance of happening in a given month, and the project is expected to last five months, what is the probability that the risk event will occur during the fourth month of the project?Ĥ. The estimate with the smallest range is less risky.
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