PMT 0170 Risk Management Exam Review 100% Correct and Verified Answers

PMT 0170 Risk Management Exam Review 92% 1. Which of the following are lower-level risk identification techniques? (Select two that apply.) a. Expert interviews b. Decomposition c. Five “Whys” d. Trends 2. Which of the following is the difference between an opportunity and a risk? a. An opportunity is usually realized through resource allocation; a risk is always realized through scheduling change b. An opportunity is highly likely to occur; a risk’s likelihood must be calculated c. An opportunity cannot be managed; a risk requires management through analysis and tracking d. An opportunity can only have a positive impact on a project; a risk can only have a negative impact 3. You have contracted a university research team to create a new optic lens as a part of your program’s satellite system. Your group has never worked with this team before, and has included a new potential risk stemming from their development and testing procedures. What type of analysis could you use to identify and reduce specific risks from their processes? a. Lessons learned b. Expert interviews c. Process Risk Analysis d. Modeling and Simulation 4. A shortage of steel has caused a delay in one of the tasks until the material is available. The original plan estimated the material to be available in 6 weeks, but the shortage continues. What would be an appropriate step to tracking and managing this issue? a. Adjust the corrective action plan and issue level as warranted b. Transfer the issue to another team c. Update the consequence value in the program’s issue tracking register d. Continue monitoring until the task is completed 5. Which of the following is a critical success factor to ensure effective risk management (RM)? (Select two that apply.) a. Priority risk categories b. Risk prioritization c. Framing assumptions and ground rules d. Program Risk Process (PRP) Document