Exam (elaborations)
2022 PMP Exam Prep 11 Of 15 Questions And Answers With Actual Test
- Course
- Institution
2022 PMP Exam Prep 11 Of 15 Questions And Answers With Actual Test
[Show more]
Seller
Follow
Nipsey
Reviews received
Content preview
2022 PMP Exam Prep 11 Of 15 Questions AndAnswers With Actual Test
Acceptance Correct Answers: A risk response appropriate for both positive and negative risks, but
often used for smaller risks within a project.
Ambiguity risks Correct Answers: Risks that have an uncertain, unclear nature, such as new laws or
regulations, the marketplace conditions, and other risks that are nearly impossible to predict.
Avoidance Correct Answers: A risk response to avoid the risk.
Brainstorming Correct Answers: The most common approach to risk identification; usually completed
by a project team with subject matter experts to identify the risks within the project.
Business risks Correct Answers: These risks may have negative or positive outcomes. Examples
include using a less experienced worker to complete a task, allowing phases or activities to overlap,
or forgoing the expense of formal training for on-the-job education.
Cardinal scales Correct Answers: A ranking approach to identify the probability and impact by using a
numerical value, from .01 (very low) to 1.0 (certain).
Checklists Correct Answers: A quick and cost-effective risk identification approach.
Data precision Correct Answers: The consideration of the risk ranking scores that takes into account
any bias, the accuracy of the data submitted, and the reliability of the nature of the data submitted.
Decision tree Correct Answers: "A method to determine which of two or more decisions is the best
one. The model examines the costs and benefits of each decision's outcome and weighs the
probability of success for each of the decisions."
Delphi Technique Correct Answers: An anonymous method of querying experts about foreseeable
risks within a project, phase, or component of a project. The results of the survey are analyzed by a
third party, organized, and then circulated to the experts. There can be several rounds of anonymous
discussion with the Delphi Technique, without fear of backlash or offending other participants in the
process. The goal is to gain consensus on project risks within the project.
Enhancing Correct Answers: "A risk response that attempts to enhance the conditions to ensure that
a positive risk event will likely happen."
Escalating Correct Answers: A risk response that is appropriate for both positive and negative risk
events that may outside of the project manager's authority to act upon.
Expected monetary value (EMV) Correct Answers: The monetary value of a risk exposure based on
the risk's probability and impact in the risk matrix. This approach is typically used in quantitative risk
analysis because it quantifies the risk exposure.
Exploit Correct Answers: A risk response that takes advantage of the positive risks within a project.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nipsey. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77764 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now