Tim - Question on Risk

Discussion in 'PMP' started by _51292, Mar 26, 2020.

  1. _51292

    _51292 Well-Known Member

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    Q: in your project, the risk calculation show that there is a risk of overrunning the project scope and schedule targets to levels that are beyond the threshold limits determined in the project, To bring the level of risk to a level acceptable to your organization, you should :

    A: Consider using contingency reserve
    B: Decrease the project scope and increase project schedule
    C: talk with your sponsor about cancelling the project
    D: Do additional risk response planning

    Correct Answer: A

    why not C, as I understand we are in process of qualitiative risk analysis, and contegincy reserve can be used with Accepted Risk or unplanned risk happened (Correct me if I'm wrong)
     
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  2. tim jerome

    tim jerome Well-Known Member
    Trainer

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    Review what the question is REALLY asking.

    Yes, based on your personal preference, the project would be better off cancelled, but - and read this carefully - would bring this project within an acceptable level?

    The answer to this question is A.
     
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  3. _51292

    _51292 Well-Known Member

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    Thanks, If remove this sentence from the question "To bring the level of risk to a level acceptable to your organization, you should :" and replace it with "What should PM do ?" what could be the answer?
     
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  4. Marina Kwok

    Marina Kwok Member

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    One more Risk question from the Master Quiz 11-4
    You have just completed an analysis of project risks and have prioritized them using a probability and impact matrix. The approach you used to prioritize the risks is:

    a) Qualitative analysis b) Quantitative analysis c) Sensitivity analysis d) Earned value analysis

    Ans: A

    Why would a probability and impact matrix be considered a qualitative but NOT quantitative analysis?
     
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