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PMP Risk Management Scenarios and Responses

The document presents a series of questions related to risk management in project management. It covers different types of risk responses, qualitative risk analysis techniques, and decision-making processes in the face of unexpected risks. Additionally, it discusses the evaluation of innovative components in projects and identifies examples of positive risks or opportunities.

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6 views2 pages

PMP Risk Management Scenarios and Responses

The document presents a series of questions related to risk management in project management. It covers different types of risk responses, qualitative risk analysis techniques, and decision-making processes in the face of unexpected risks. Additionally, it discusses the evaluation of innovative components in projects and identifies examples of positive risks or opportunities.

Uploaded by

tccljahirdipok
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

116.

During a risk assessment for a construction project, it is identified that poor soil
quality at the project site could pose major challenges. Instead of building at the same site,
you opt to relocate the project to another location with better soil quality. What kind of risk
response has taken place?
a. Transfer
b. Avoidance
c. Acceptance
d. Mitigation

117. While managing a project to build a new sports arena, you identify a risk of schedule
overrun due to potential design variations requested by stakeholders. What qualitative risk
analysis technique would allow you to properly assess and prioritize this risk while
considering both its probability and impact?
a. Risk data quality assessment
b. Sensitivity analysis
c. Probability and impact matrix
d. Influence diagrams to trace the cause-and-effect relationships

118. During the risk monitoring and control process, the project manager notices an
unexpected risk event with a high potential impact on the project timeline. What is the best
course of action to address this situation?
a. Ignore the risk event and focus on other project tasks.
b. Implement a workaround to reduce the immediate effects of the risk event.
c. Escalate the risk event to senior management without delay.
d. Analyze the root cause of the risk event and develop a mitigation plan to address it
proactively.

119. An aerospace company with a moderate risk appetite is developing a new satellite
system. A supplier proposes an innovative but untested component that could significantly
enhance performance but carries the risk of failure in critical conditions. As the project
manager, what should you do?
a. Adopt the new component based on the supplier's recommendation to gain performance
benefits quickly.
b. Evaluate the risks associated with the new component thoroughly, and proceed if it fits within
the firm's risk appetite.
c. Wait for other companies to test the component first and adopt it later if proven successful,
even if it delays the project.
d. Reject the innovative component due to its untested nature, choosing established technology
for reliability.

120. Which of the following is an example of a positive risk or opportunity?


a. Delayed delivery of project materials
b. Discovery of a new market segment
c. Unforeseen legal issues
d. Loss of a key team member

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