Rex is the project manager of the BDF Project. This project will last for two years and has a budget of $2,345,000. Management has instructed Rex that the project must not go over budget as funds are very tight in the organization. During the project planning Rex and the project team discover a positive risk event to save $75,000. Rex wants to make certain that this risk event happens so which risk response method is most appropriate?

1. A. Share
2. B. Mitigation
3. C. Exploit
4. D. Enhance

Correct Answer: C

You work as the project manager for Bluewell Inc. You are working on NGQQ Projectyou're
your company. You have completed the risk analysis processes for the risk events. You and the project team have created risk responses for most of the identified project risks. Which of the following risk response planning techniques will you use to shift the impact of a threat to a third party, together with the responses?

1. A. Risk acceptance
2. B. Risk avoidance
3. C. Risk transference
4. D. Risk mitigation

Correct Answer: C

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?

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

Correct Answer: C

You are working with Anna on your project to determine and map the probability distributions of risk within the project. You have indicated that you will use the uniform
distribution method for a portion of the project. Which part of your project is most likely to have a uniform risk distribution?

1. A. Late completion stages of a project
2. B. Project phases that deal with "cutover" technologies
3. C. Early concept stage of design
4. D. Project initiating

Correct Answer: C

You work as a project manager for BlueWell Inc. You are about to complete the quantitative risk analysis process for your project. You can use three available tools and techniques to complete this process. Which one of the following is NOT a tool or technique that is appropriate for the quantitative risk analysis process?

1. A. Expert judgment
2. B. Data gathering and representation techniques
3. C. Organizational process assets
4. D. Quantitative risk analysis and modeling techniques

Correct Answer: C