Reference no: EM132093177

1. Mary is a project manager for a large well known manufacturing company. She is working on a new project to release a new international product line. This is her company's first project to produce products for international markets and everyone is expecting great success with this ne product line. Many of the project stakeholders are apprehensive about the project and they usually proceed cautiously and take a considerable amount of time to examine information before making a final project decisions. The project entails producing localized version of a current product that the company produces for its domestic markets. This is the first time that the company has attempted to create a product that is not only localized in the local language but is also designed for cultural co-existence. History with other companies indicates that subtle miscalculations in this area can offend consumers and result in a loss of market share for all of the company's products. A new vendor is engaged to perform the language translations and test the cultural co-existence of the product. After speaking with one of your stakeholders, Mary discovers that this will be the first project for your organization to work with this new vendor. Which of the following statements is true given the information in this question?

A) This scenario describes the interviewing tool and technique used During the Risk Identification process.

B) This scenario describes risk triggers that are derived using interviewing techniques and recorded in the risk register during The Qualitative Risk Analysis process.

C) The scenario describes risk tolerance levels of the stakeholders, which should be considered as an input to the Plan Risk Management process.

D) This scenario describes a risk that requires a response strategy from the positive risk category.

2. Monitor and control project risks can involve choosing alternative strategies, executing a contingency or fall back plan, taking corrective action, and modifying the project management plan. The risk response owner reports periodically to the project manager on the effectiveness of the plan, any unanticipated effects, and any correction needed to handle the risk appropriately. Which of the following best describes the steps for implementing a contingency plan or a workaround when performing the Risk Monitoring and Control process?

A) The risk owner should implement the contingency or work around by performing the risk response defined in the risk response plan.

B) Notify the project sponsor that a risk event has occurred and obtain authorization to implement the contingency or workaround.

C) Prepare a change request based on the risk response plan and submit it to the Perform Integrated Change Control process.

D) Implement the contingency using according to the risk response plan and then prepare a change request and submit it to the Perform Integrated Change Control process.