1. Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?

A) Risk audit
B) Earned value management
C) Corrective action
D) Technical performance measurement



2. You are the business analyst for the YGT Organization. You have just completed a capabilities gap assessment and have determined that your organization does not have the necessary resources and technology to seize a business opportunity. What is the most likely course of action for the organization?

A) Hire contractors to complete the project work.
B) Move onto the next opportunity.
C) Launch a new project.
D) Hire additional resources.



3. Stephen is the project manager of the GBB project. He has worked with two subject matter experts and his project team to complete the risk assessment technique. There are approximately 47 risks that have a low probability and a low impact on the project.Which of the following answers best describes what Stephen should do with these risk events?

A) The low probability and low impact risks should be added to the risk register.
B) Because they are low probability and low impact, the risks can be dismissed.
C) Because they are low probability and low impact, Stephen should accept the risks.
D) The low probability and low impact risks should be added to a watch list for future monitoring.



4. Which of the following is a continuous process of comparing performance with desired objectives to identify opportunities for improvement, and is conducted by individuals, groups, or organizations relating to their own work?

A) Management Assessment
B) Continuous improvement
C) Self Assessment
D) Control



5. In which of the following methods of risk mitigation does the senior management approve the implementation of the controls that are recommended by the risk management team, and that will lower the risk to an acceptable level?

A) Risk Avoidance
B) Risk Alleviation
C) Risk Limitation
D) Risk Transference