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A company in the mining industry accommodates a lot of innovation and changing work conditions. Because of this, the company experiences difficulty in predicting long term business plans.
How should a professional risk manager manage the risks in such situations?

• A.Adopt a predictive approach to manage the risks.
• B.Utilize proper documentation to help manage the risks.
• C.Conduct weekly risk management meetings with all stakeholders.
• D.Adopt agile approaches to manage the risks.

A financial services company has implemented a risk response plan to mitigate potential cybersecurity threats.
The project team has conducted a series of tests to ensure the new security measures are effective. However, some executives have expressed concerns about the impact of these measures on daily operations.
What should the risk manager do?

• A.Implement additional security measures to address the concerns expressed by the executives.
• B.Acknowledge the concerns and focus on monitoring the effectiveness of the new security measures.
• C.Organize a stakeholder workshop to discuss the effectiveness of the new security measures.
• D.Facilitate a risk identification session on security measures with the company executives.

A risk management team has completed a quantitative analysis, and the individual score in terms of schedule and cost has been identified. The team is consolidating inputs for contingency planning and notices that the available time and funds are not sufficient for all the risks.
What should the risk manager advise the project team?

• A.Ask the project sponsor for more time and funds if needed.
• B.Create a change request if there are additional needs based on the risk responses.
• C.Focus on the high-impact risk for contingency planning purposes.
• D.Accept some risks might not be materialized so no extra time and funds will be needed.

One project in a program needs to be completed in 6 months because there is a large bonus for early completion. Consequently, the program manager transfers all resources to this project and arranges for employees to receive overtime pay.
Which risk response strategy is the program manager using in this scenario?

• A.Escalate
• B.Exploit
• C.Enhance
• D.Transfer

During the early planning stages of an AI-based software development project, the project team begins outlining the risk management activities. The risk manager notices that key stakeholders, such as data scientists, product owners, and external data vendors, lack a shared understanding of risk management principles.
What should the risk manager do to educate stakeholders?

• A.Provide project management training to all stakeholders.
• B.Conduct risk workshops tailored to all stakeholders.
• C.Invite all stakeholders to daily coordination meetings.
• D.Distribute risk-policy documents to all stakeholders.