PROJ 595 Week 8 Final Exam

PROJ 595 Week 8 Final Exam

Author: Christine Farr


1. (TCOs A and B) An EVM 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 have completed all design drawings and have a complete scope for your project. You need to hire a contractor to build the product to your designs. Which type of contract would be best in this situation? (Points : 5)


Question 3. 3. (TCO D) In which risk response strategy is the responsibility for the risk moved to a third party? (Points : 5)

 Transference and sharing
 Exploitation and avoidance
 Acceptance and enhancement
 Mitigation and active acceptance

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)
5. (TCO B) Due to globalization within your industry, you have been appointed as the project manager for an R & D project. Your task is to create a new technologically advanced solar cell. You want to employ the PMBOK® Guide risk management process. Senior management would like you to briefly describe the process and all its steps. Please create a short briefing for senior management below. (Points : 40)
12. (TCO I) You are the project manager on a critical project for your corporation. You have decided to employ fault-tree analysis on your project. What is fault-tree analysis, and how can it be applied to your project? (Points : 25)
11. (TCO H) Senior management is concerned about risk owners on your project. What is the role of a risk owner in the risk management process? (Points : 20)

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