1. Right Answer: C
Explanation: Failure modes and effects analysis is used in discovering high-impact risk types.FMEA: Is one of the tools used within the Six Sigma methodology to design and implement a robust process to:- Identify failure modes- Establish a risk priority so that corrective actions can be put in place to address and reduce the risk- Helps in identifying and documenting where in the process the source of the failure impacts the (internal or external) customer- Is used to determine failure modes and assess risk posed by the process and thus, to the enterprise as a wholeIncorrect Answers:A, D: These two are the methods of analyzing risk, but not specifically for high-impact risk types. Hence is not the best answer.B: Delphi is a technique to identify potential risk. In this technique, the responses are gathered via a question: and their inputs are organized according to their contents. The collected responses are sent back to these experts for further input, addition, and comments. The final list of risks in the project is prepared after that. The participants in this technique are anonymous and therefore it helps prevent a person from unduly influencing the others in the group. The Delphi technique helps in reaching the consensus quickly.

2. Right Answer: B
Explanation: A compliance-oriented BIA will identify all the compliance requirements to which the enterprise has to align and their impacts on business objectives and activities.It is a discovery process meant to uncover the inner workings of any process. Hence it will also evaluate the potential impact of legal, regulatory, and contractual requirements on business objectives.Incorrect Answers:A: Communication with business process stakeholders is done so as to identify the business objectives, but it does not help in identifying impacts.C: Compliance-oriented gap analysis will only identify the gaps in compliance to current requirements and will not identify impacts to business objectives.D: Mapping of compliance requirements to policies and procedures will identify only the way the compliance is achieved but not the business impact.

3. Right Answer: D
Explanation: The stakeholder register is not an input to the qualitative risk analysis process. The four inputs are the risk register, risk management plan, project scope statement, and organizational process assets.Incorrect Answers:A: The Risk management plan is an input to the risk qualitative analysis process.B: The project scope statement is needed to help with qualitative risk analysis.C: The risk register can help Wendy to perform qualitative risk analysis.

4. Right Answer: D
Explanation: Change requests are not one of the four inputs to the Risk Monitoring and Controlling Process. The four inputs are the risk register, the project management plan, work performance information, and performance reports.Incorrect Answers:A, B, C: These are the valid inputs to the Risk Monitoring and Controlling Process.

5. Right Answer: B
Explanation: As the risk is transferred to the third party (electrician), hence this type of risk response is transference.Incorrect Answers:A: Risk avoidance means to evade risk altogether, eliminate the cause of the risk event, or change the project plan to protect the project objectives from the risk event. Risk avoidance is applied when the level of risk, even after the applying controls, would be greater than the risk tolerance level of the enterprise.C: Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully integrated together.D: Risk acceptance means that no action is taken relative to a particular risk; loss is accepted if it occurs.