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A risk manager has been assigned to an upcoming project. A senior risk manager within the organization recently completed a similar project and has provided a lessons learned document to aid planning efforts for the upcoming project. Upon reviewing the document, the risk manager discovers that the completed project was delivered several months behind schedule and several thousands of dollars over budget. The root cause was determined to be an unforeseen risk trigger that caused several items to be reworked, creating cascading schedule delays and depleting management reserves.
What should the risk manager do to mitigate the chance of the same issues reoccurring?

• A.Increase the management reserves and inform stakeholders of what is available to cover any unexpected expenses
• B.Document the known risk triggers as the identified cost and schedule risks in the risk register.
• C.Distribute the lessons learned document to stakeholders knowing that the likelihood of reoccurrence is low.
• D.Ensure that all project stakeholders have a copy of and understand the project's risk management plan.

A project team has just initiated a large project to move an organization's headquarters to another location.
The risk manager has scheduled a risk identification session but notices that the project charter, work breakdown structure (WBS). and scope statement are not available.
What should the risk manager consider?

• A.Risk evaluation will be challenging without these elements as a frame of reference.
• B.The risk identification process can be carried out as long as the project statement is available.
• C.Aligning with the project manager to hold an open brainstorm session with all stakeholders will suffice.
• D.The ideal solution is to find alternate documents that provide good visibility on the environment.

During a virtual workshop presenting a product to potential clients, a facilitator emails the product brochure and asks attendees to check their spam folder if the email does not appear in their inbox. What kind of threat strategy is the facilitator applying?

• A.Share
• B.Accept passively
• C.Mitigate
• D.Accept actively

Project stakeholders can often be risk averse with little to no knowledge of the risk process. How should a risk manager increase stakeholder risk appetite?

• A.Exclude risk averse stakeholders from future risk discussions
• B.Increase the impact of all risks in the risk breakdown structure (RBS)
• C.Explain risk handling and mitigation strategies
• D.Develop a generous probabilistic cash flow model

In a highly dynamic project environment, the project manager is known to have project risks as a permanent agenda item in their periodic project progress meetings. How will this help improve the project's risk management activities? (Choose 3)

• A.By helping the lessons learned from previous risks to be efficiently utilized
• B.By helping to determine the overall project risks
• C.By helping to monitor variances and trends frequently throughout the project
• D.By helping update the risk register and close out expired risks
• E.By helping to update the project scope statement document