During which risk management process is the

53. 1025 During which risk management process is the determination to transfer a risk is made?
a) Identify risks
b) Perform quantitative risk analysis

c) Plan risk responses
d) Monitor and control risks
54. 1041 You are a project manager for a major telecommunications network upgrade with NPV
of US$10, 000, 00. You are heavily dependent on a third party vendor for your project and
your contact office informs you that there is a 30% chance that the vendor will go out of
business at the end of the quarter. If that occurs , your project will incur a US$3,000,00 cost
overrun due to rework . there is also a 30% chance that a new legislation will pass that will
decrease government oversight of your team’s work. If this legislation passes, you estimate
that your project will save US$1,600,000 in time delays. Lastly, your technical lead indicates
that there is a 20% chance that a new software package will be available by the month end,
that could save US$ 1,800,000 in testing time. If available, the software will cost US$
500,000 to procure, install and train. What is the total expected monetary value of these 3
risk events?
55. 1018 During the Plan Risk Management process, your team has come up with 434 risks and
16 major causes of those risks. The project is a last of the series of all the projects which the
team has worked on together. The sponsor is very supportive and a lot of time was invested
in making sure the project was complete and signed off by all the project stakeholders.
During project planning, the team cannot come up with an effective way to mitigate or
insure against a risk. It is not work that can be outsourced, nor can it be deleted, what is the
BEST solution?
56. 1014 . A ranking of lists and a list of risks for additional analysis are outputs of which process
of risk management?