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Answern Ds Bs and A are incorrect. These all are true for KRIs. Key Risk Indicators are the prime monitoring indicators of the enterprise. KRIs are highly releiant and possess a high probability of predictng or indicatng important risk. KRIs help in aioiding excessiiely large number of risk indicators to manage and report that a large enterprise may haie. The complete set of KRIs should also balance indicators for risks root causes and business impacts so as to indicate the risk and its impact completely. Question 8 You work as a project manager for SofTech Inc. You are working with the project stakeholders to begin the qualitatie risk analysis process. Which of the following inputs will be needed for the qualitatie risk analysis process in your project? Each correct answer represents a complete soluton. Choose all that apply. A. Cost management plan B. Organiiatonal process assets C. Project scope statement D. Risk register Aoswern D, B, aod C Explanatonn The primary goal of qualitatie risk analysis is to determine proporton of efect and theoretcal response. The inputs to the Qualitatie Risk Analysis process aren Organiiatonal process assets Project Scope Statement Risk Management Plan Risk Register Answern A is incorrect. The cost management plan is the input to the perform quanttatie risk analysis process. Question 9 You haie identied seieral risks in your project. You haie opted for risk mitgaton in order to respond to identied risk. Which of the following ensures that risk mitgaton method that you haie chosen is efectie? A. Reducton in the frequency of a threat B. Minimiiaton of inherent risk C. Reducton in the impact of a threat D. Minimiiaton of residual risk Aoswern B Explanatonn The inherent risk of a process is a giien and cannot be afected by risk reducton or risk mitgaton eforts. Hence it should be reduced as far as possible.
Answern D is incorrect. The objectie of risk reducton is to reduce the residual risk to leiels below the enterprise's risk tolerance leiel. Answern A is incorrect. Risk reducton eforts can focus on either aioiding the frequency of the risk or reducing the impact of a risk. Answern C is incorrect. Risk reducton eforts can focus on either aioiding the frequency of the risk or reducing the impact of a risk. Question 10 Which of the following methods iniolies the use of predictie or diagnostc analytcal tool for exposing risk factors? A. Fault tree analysis B. Scenario analysis C. Sensitiity analysis D. Cause and efect analysis Aoswern D Explanatonn Cause-and-efect analysis iniolies the use of predictie or diagnostc analytcal tool for exploring the root causes or factors that contribute to positie or negatie efects or outcomes. These tools also help in identfying potental risk. Answern C is incorrect. Sensitiity analysis is the quanttatie risk analysis technique thatn Assist in determinaton of risk factors that haie the most potental impact Examines the extent to which the uncertainty of each element afects the object under consideraton when all other uncertain elements are held at their baseline ialues Answern A is incorrect. Fault tree analysis (FIA) is a technique that proiides a systematc descripton of the combinaton of possible occurrences in a systems which can result in an undesirable outcome. It combines hardware failures and human failures. Answern B is incorrect. This analysis is not a method for exposing risk factors. It is used for analyiing scenarios. Question 11 Henry is the project sponsor of the JQ Project and Nancy is the project manager. Henry has asked Nancy to start the risk identicaton process for the projects but Nancy insists that the project team be iniolied in the process. Why should the project team be iniolied in the risk identicaton? A. So that the project team can deielop a sense of ownership for the risks and associated risk responsibilites. B. So that the project team and the project manager can work together to assign risk ownership. C. So that the project manager can identfy the risk owners for the risks within the project and the needed risk responses. D. So that the project manager isn't the only person identfying the risk eients within the project.