Page 1
Question 1. 1. (TCOs A and B) An EMV analysis employs which
factors to evaluate risks? (Points : 5)
Risk and impact
Probability and urgency
Impact and probability
Decision trees and reliability of data
Question 2. 2. (TCO G) You need to ensure your project is
completed by July 1 of next year. You do not have time to do all the design
work yourself, so you decide to contract out that work. Which type of contract
would likely be best in this situation? (Points : 5)
Cost plus
Fixed price with economic price adjustment
Fixed price with incentives
Cost plus with incentives
Question 3. 3. (TCO D) Which risk response strategy is most
appropriate for risks on the watch list? (Points : 5)
Transference
Exploitation
Passive acceptance
Active acceptance
Question 4. 4. (TCOs A and B) You have been appointed as a
project manager for a high-dollar project for a government agency, and you have
been asked by your boss to identify the stakeholder groups and the individuals
who make up those groups in order to start the stakeholder analysis. Identify
at least six groups of stakeholders and the individuals who comprise those
groups, and explain when the stakeholder identification process should take
place during the planning of the project. (Points : 20)
Question 5. 5.
(TCO B) As described, risks are inevitable.
You are the IT Project Manager for a health care organization. Your project
scope is to install a new patient health care system into your organization.
You have just completed your planning session in which you identified positive
and negative risk responses for those unavoidable risks you will encounter.
Part 1: Describe the five positive risk responses you can choose from and
briefly explain each one. Provide an example of one positive risk you may encounter
and explain what positive risk response you would use to address the identified
risk. (20 points) Part 2: Describe five negative risk responses and briefly
explain the meaning of each one. Provide an example of a negative risk which
will definitely impact the delivery date of the project by at least one month.
Briefly explain the risk, potential impact, and the negative risk response you
would take. Explain why you choose this negative risk response. (20
points) (Points : 40)
Question 6. 6. (TCO C) You are the project manager for a
large health information technology project. You are confronted with an
important decision on your project: How much scenario testing is appropriate
for this project? Employ decision tree analysis to provide senior management
with the best course of action for this decision.
For
this decision, you have three possible choices: no scenario testing of the
design, moderate scenario testing of the design, or full scenario testing of
the design. No scenario testing will incur no additional costs due to testing
and has a 40% percent chance of a successful implementation. If it is
unsuccessful, rework costs are likely to be $30 million. Moderate scenario
testing will cost $5 million and has a 50% percent chance of success. If it is
unsuccessful, rework costs are likely to be $30 million. Full scenario testing
will cost $10 million and has a 60% chance of success. If it is unsuccessful,
rework costs are likely to be $30 million. Which solution is appropriate for
this project? (Points : 40)
Question 7. 7. (TCO D) You are the project manager for an
important healthcare project. You are performing qualitative risk analysis.
Below are the values of probability and impact for the top six risks that were
given to you by project team. Assuming a neutral stakeholder tolerance, which
risks must be addressed proactively if possible? (Points : 25)
Question 8. 8. (TCO E) Senior management at your company is
insisting on you performing a risk audit on your project. Describe the function
and process of performing a risk audit during a project. (Points : 20)
Question 9. 9. (TCO F) You are a project manager for a large
IT project. This project involves the purchase and installation for a number of
high-dollar components. Senior management has asked you to utilize a
sensitivity analysis and a tornado diagram to quantify risks on your project.
Describe how to perform a sensitivity analysis and use a tornado diagram to
quantify risks on your project. (Points : 25)
Question 10. 10. (TCO G) Describe and discuss when one should
use an FPEPA contract. Compare and contrast this to a typical FP contract.
(Points : 20)
Question 11. 11. (TCO H) You, as the project manager, need to
create a time in the schedule to create risk response plans for your project.
What is the importance of including stakeholders and risk owners in the creation
and approval of these risk response plans? (Points : 20)
Question 12. 12. (TCO I) You are the project manager on a
large, complex construction project for your corporation. You have decided to
employ fault-tree analysis in your project. What is fault-tree analysis, and
how can it be applied to your project? (Points : 25)
