Wendy is the project manager of the FBL project for your company. She has identified several risks within her project and has created a risk contingency reserve of $45,000 total. Her project is nearly complete and many of the risks have not happened in the project. What should Wendy do with the funds in the contingency reserve?

1. A. The funds remain in the contingency reserve until all of the risks have passed.
2. B. The funds for the risks that have passed and have not happened are transferred to the project budget.
3. C. The funds for the risks that have passed and have not happened are released.
4. D. The funds remain in the contingency reserve until the project is closed.

Correct Answer: C

You work as a project manager for BlueWell Inc. You are preparing for the risk identification process. You will need to involve several of the project's key stakeholders to help you identify and communicate the identified risk events. You will also need several documents to help you and the stakeholders identify the risk events. Which one of the following is NOT a document that will help you identify and communicate risks within the
project?

1. A. Risk register
2. B. Activity cost estimates
3. C. Stakeholder register
4. D. Activity duration estimates

Correct Answer: A

You work as a project manager for TechSoft Inc. You are working with the project stakeholders on the qualitative risk analysis process in your project. You have used all the tools to the qualitative risk analysis process in your project. Which of the following techniques is NOT used as a tool in qualitative risk analysis process?

1. A. Risk Urgency Assessment
2. B. Risk Categorization
3. C. Risk Reassessment
4. D. Risk Data Quality Assessment

Correct Answer: C

You are the project manager of the NGH project for your organization. You want to create a causeand- effect diagram to help discover the root causes of the risks within the project. Harold, the CIO, recommends that you create an Ishikawa diagram instead. What is an Ishikawa diagram?

1. A. It is a graphical representation of situations showing causal influences.
2. B. It is the same thing as a root cause diagram.
3. C. It shows how various elements of a system interrelate.
4. D. It diagrams the risks according to the work breakdown structure including resources.

Correct Answer: B

You are the project manager of the NHH Project for your company and 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. Now, you would like to assign risk owners to the events. Which risk events should have risk response owners?

1. A. Only the risks with a high risk rating
2. B. Each agreed-to and funded risk response should have a risk response owner
3. C. Each risk that has a risk response should have a risk response owner
4. D. Only the risk events that are considered a negative risk event with a high risk rating

Correct Answer: B