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NEW QUESTION 48
You are the project manager of GHT project. Your hardware vendor left you a voicemail saying that the delivery of the equipment you have ordered would not arrive on time. She wanted to give you a heads-up and asked that you return the call. Which of the following statements is TRUE?
scenario, risk event has not occurred yet.C. This is a residual risk.D. is incorrect. A contingency plan is a plan devised for a specific situation when things go
wrong. Contingency plans are often devised by governments or businesses who want to be
prepared for anything that could happen.
Here there are no such plans.E. Explanation:
Triggers are warning signs of an upcoming risk event. Here delay in delivery signifies that there
may be a risk event like delay in completion of project. Hence it is referred to as a trigger.F. This is a contingency plan.G. This is a secondary risk.
is incorrect. Secondary risks are risks that come about as a result of implementing a
risk response. But here in this scenario, risk event has not occurred yet.
NEW QUESTION 49
Which of the following role carriers are responsible for setting up the risk governance process, establishing and maintaining a common risk view, making risk-aware business decisions, and setting the enterprise's risk culture?
Each correct answer represents a complete solution. Choose two.
The board of directors and senior management has the responsibility to set up the risk governance process, establish and maintain a common risk view, make risk-aware business decisions, and set the enterprise's risk culture.C. Human resources (HR)D. Senior managementE. Board of directors
is incorrect. CFO is the most senior official 0f the enterprise who is accountable for financial planning, record keeping, investor relations and financial risks. CFO is not responsible for responsible for setting up the risk governance process, establishing and maintaining a common risk view, making risk-aware business decisions, and setting the enterprise's risk culture. Answer: C is incorrect. Human resource is the most senior official of an enterprise who is accountable for planning and policies with respect to all human resources in that enterprise. HR is not responsible for risk related activities.
NEW QUESTION 50
Your project is an agricultural-based project that deals with plant irrigation systems. You have discovered a byproduct in your project that your organization could use to make a profit. If your organization seizes this opportunity it would be an example of what risk response?
This is an example of exploiting a positive risk - a by-product of a project is an excellent example of exploiting a risk. Exploit response is one of the strategies to negate risks or threats that appear in a project.
This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project.
Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.
A: Enhancing is a positive risk response that describes actions taken to increase the odds of a risk event to happen.
B: This is an example of a positive risk, but positive is not a risk response.
C: Opportunistic is not a valid risk response.
NEW QUESTION 51
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