70.
A project manager is assessing risks in a large infrastructure project with multiple
interdependent uncertainties. To accurately model the combined effects of these risks on
the project timeline, which quantitative risk analysis method should be employed?
a. Expected Monetary Value Analysis
b. Utilize a probabilistic model incorporating each risk's individual probability and impact to
simulate possible outcomes
c. Monte Carlo Simulation
d. Sensitivity Analysis
71. You are a project manager working on a software implementation project for a client.
During a brainstorming session with the project team, one team member suggested an issue
that could potentially impact the project. Which risk identification technique is being used
here?
a. Root cause analysis
b. Interviewing
c. Delphi technique
d. Brainstorming
72. You are managing a construction project when unexpected geological conditions are
discovered. This could delay the project and increase costs. What risk response strategy is
best in this situation?
a. Request for information (RFI)
b. Contract renegotiation
c. Scope reduction
d. Contingency plan
73. During a live data-center migration, weekly risk metrics highlight three consecutive
voltage spikes that narrowly missed shutting down critical servers. The risk register shows
the probability of total power loss now exceeds the defined threshold, but contingency
funds for a failover site were already approved in planning. What should the project
manager do to monitor and control this escalating risk most effectively?
a. Re-baseline the schedule and note that power fluctuations are now considered part of normal
operations
b. Collect additional trend data over the next quarter, then convene a stakeholder workshop to
debate whether contingency funds should be released
c. Activate the pre-approved failover plan and record the action in the risk register
d. Request the facilities team to conduct another root-cause analysis before deciding on any
contingency activation
74. You're overseeing a project to construct a dam, and a risk analysis has indicated that an
earthquake could potentially damage the structure. To address this, you strategize to
reinforce the dam with earthquake-resistant materials. Which risk response strategy is this
illustrating?
a. Exploiting the risk by using it as an opportunity to test new materials
b. Transferring the risk by purchasing comprehensive insurance coverage
c. Mitigation
d. Accepting the risk and preparing a disaster recovery plan
75. In a software development project, your team identifies a risk where a critical third-
party component may have compatibility issues with your system. The vendor is
unresponsive to your inquiries. What risk response strategy would be most appropriate?
a. Transfer the risk by purchasing a comprehensive insurance policy that covers potential
losses due to compatibility issues, and continue with the project as planned.
b. Accept the risk and proceed with the project, as the probability of compatibility issues is
relatively low based on the vendor's reputation.
c. Develop a contingency plan to mitigate the impact of potential compatibility issues and
explore alternative components.
d. Implement risk avoidance by removing the dependency on the third-party component and
developing an in-house solution, even though it may require additional resources and time.