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Question 141

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A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the client's vendor, which apparently has been causing all of the issues.

What should the risk manager do first?

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Question 142

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During a brainstorming session, a stakeholder identifies a risk that, if realized, could greatly impact their team. The stakeholder insists that this particular risk should be mitigated to the greatest extent possible, however, the majority of other stakeholders feel that different risks have higher probabilities of occurring.

Which action should the risk manager take to address this risk?

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Question 143

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A project team identifies that there is a probability of missing a key milestone in a project. The team wants to move forward with the risk response planning.

What should the risk manager complete first?

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Question 144

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While executing an oil extraction project in an environmentally sensitive area, weather is the main cause of delay in the project work. The risk manager was aware that the delays caused by the weather could not be avoided or mitigated.

What should the risk manager do to manage this risk?

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Question 145

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The project manager reviews project risks with the risk manager to update, monitor, and close risks in the risk register. The project manager determines one of the risks has a residual risk.

How should the risk manager document the impact of the residual risk?

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Question 146

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A project team in a multinational organization is working on a risk management plan for a multimillion-dollar project. This project involves three global regions with a wide range of critical stakeholders with varying degrees of risk appetite.

What should the risk manager advise the project team to do?

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Question 147

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While performing risk identification exercises, the risk manager often encounters biases from the project team. How can the risk manager accurately identify what will trigger a risk?

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Question 148

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In a large mobile network deployment project, there is delay risk due to insufficient staffing. The risk manager is considering executing a response plan, which involves allowing staff members to work overtime. However, this action may lead to excessive additional cost.

What should the risk manager do?

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Question 149

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A project team has just completed a project plan, which includes extra days for most of the critical activities to cover any possible issues. Stakeholders want to remove these additional days, because the end date is longer than expected.

What should the risk manager do first?

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Question 150

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A project manager for a large product development project assigned a risk manager to perform the risk management. The project sponsor questions why this project requires a risk manager as it is similar to a previous project with a developed risk strategy.

How should the risk manager explain the need for a risk strategy specific to this project?

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