Podcast
Questions and Answers
Which of the following is NOT a component of the scope baseline?
Which of the following is NOT a component of the scope baseline?
- Project schedule (correct)
- Project scope statement
- Work package
- WBS dictionary
What is the purpose of a project scope statement?
What is the purpose of a project scope statement?
- To define the project's deliverables (correct)
- To create the WBS dictionary
- To identify project constraints only
- To outline the activity durations
Which of the following activities would typically be included in an activity list?
Which of the following activities would typically be included in an activity list?
- Sequencing project activities
- Identifying project dependencies (correct)
- Defining project stakeholders
- Creating a WBS
What does the term 'critical path' refer to in project management?
What does the term 'critical path' refer to in project management?
What is included in the WBS dictionary?
What is included in the WBS dictionary?
What is the main benefit of identifying the problem or opportunity before a project is initiated?
What is the main benefit of identifying the problem or opportunity before a project is initiated?
Which of the following is NOT a component of a business case?
Which of the following is NOT a component of a business case?
Which element should be considered when identifying the business need?
Which element should be considered when identifying the business need?
What does the term 'SMART Objective' refer to in the context of business needs?
What does the term 'SMART Objective' refer to in the context of business needs?
What process involves synthesizing information to support the selection of project portfolios?
What process involves synthesizing information to support the selection of project portfolios?
Which of the following does NOT represent a reason for initiating any project?
Which of the following does NOT represent a reason for initiating any project?
When discussing the project initiation phase, which phase comes before developing the project team?
When discussing the project initiation phase, which phase comes before developing the project team?
Which choice best explains the process of analyzing options in the business case?
Which choice best explains the process of analyzing options in the business case?
What is the primary function of a Project Management Office (PMO)?
What is the primary function of a Project Management Office (PMO)?
Which of the following is NOT a benefit of having a PMO?
Which of the following is NOT a benefit of having a PMO?
What essential skill is highlighted for a project manager?
What essential skill is highlighted for a project manager?
What role does a project manager play in terms of independent projects?
What role does a project manager play in terms of independent projects?
Which characteristic is essential for promoting agility through servant leadership?
Which characteristic is essential for promoting agility through servant leadership?
What is one of the responsibilities of a project manager regarding industry trends?
What is one of the responsibilities of a project manager regarding industry trends?
What purpose does the 'sphere of influence' serve in a project manager's role?
What purpose does the 'sphere of influence' serve in a project manager's role?
Which of the following best describes a project manager’s approach to educating others about project management?
Which of the following best describes a project manager’s approach to educating others about project management?
What is the primary purpose of the Procurement SOW?
What is the primary purpose of the Procurement SOW?
Which document outlines how a project team will acquire goods and services?
Which document outlines how a project team will acquire goods and services?
What factor is considered when developing Source Selection Criteria?
What factor is considered when developing Source Selection Criteria?
What does the Procurement Management Plan mandate?
What does the Procurement Management Plan mandate?
How can a list of qualified vendors be created?
How can a list of qualified vendors be created?
Which of the following is NOT a sample source selection criterion?
Which of the following is NOT a sample source selection criterion?
What is generally NOT included in a Procurement SOW?
What is generally NOT included in a Procurement SOW?
What is the most significant factor to consider when price is the main deciding factor?
What is the most significant factor to consider when price is the main deciding factor?
What does an influence diagram represent in a project?
What does an influence diagram represent in a project?
Which of the following is NOT an output of performing quantitative risk analysis?
Which of the following is NOT an output of performing quantitative risk analysis?
Which component is NOT included in project management plan components for predictive projects?
Which component is NOT included in project management plan components for predictive projects?
What is one of the primary objectives of risk monitoring and control?
What is one of the primary objectives of risk monitoring and control?
Which risk response strategy involves adjusting the project scope, cost, or schedule?
Which risk response strategy involves adjusting the project scope, cost, or schedule?
What information is typically included in a risk register?
What information is typically included in a risk register?
Which of the following activities is NOT part of project execution?
Which of the following activities is NOT part of project execution?
What type of analysis provides a detailed probabilistic assessment of a project's risks?
What type of analysis provides a detailed probabilistic assessment of a project's risks?
What represents an excellent way to track risks in project management?
What represents an excellent way to track risks in project management?
Which of the following is a foundational component of project management for predictive projects?
Which of the following is a foundational component of project management for predictive projects?
Study Notes
Risk Monitoring
- The primary objectives of risk monitoring are: to track risks, identify new and residual risks, and ensure that the response plans are executed as planned.
- A contingency may be invoked when a risk occurs that has not been planned for.
- Changes to the project may be enforced when a risk is encountered that impacts the scope, time, cost, etc.
- Secondary risks can be identified by analyzing the potential outcomes of primary risks.
- Risk triggers are useful for tracking the likelihood of risks.
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Description
This quiz focuses on the fundamental concepts of risk monitoring within the scope of project management. It covers how to track risks, identify new and residual risks, and manage response plans effectively. Understanding the role of contingency plans and risk triggers is essential for successful project execution.
