You are the project manager of HWD project. It requires installation of some electrical machines. You and the project team decided to hire an electrician as electrical work can be too dangerous to perform. What type of risk response are you following?
Answer(s): B
As the risk is transferred to the third party (electrician), hence this type of risk response is transference. Incorrect Answers: A: Risk avoidance means to evade risk altogether, eliminate the cause of the risk event, or change the project plan to protect the project objectives from the risk event. Risk avoidance is applied when the level of risk, even after the applying controls, would be greater than the risk tolerance level of the enterprise.C: Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully integrated together.D: Risk acceptance means that no action is taken relative to a particular risk; loss is accepted if it occurs.
You are the project manager of GHT project. You have implemented an automated tool to analyze and report on access control logs based on severity. This tool generates excessively large amounts of results. You perform a risk assessment and decide to configure the monitoring tool to report only when the alerts are marked "critical". What you should do in order to fulfill that?
As the sensitivity of the monitoring tool has to be changed, therefore it requires optimization of Key Risk Indicator. The monitoring tool which is giving alerts is itself acting as a risk indicator. Hence to change the sensitivity of the monitoring tool to give alert only for critical situations requires optimization of the KRI.Incorrect Answers:A, C, D: These options are not relevant to the change of sensitivity of the monitoring tools.
One of the risk events you've identified is classified as force majeure. What risk response is likely to be used?
Answer(s): A
Force majeure describes acts of God (Natural disaster), such as tornados and fires, and are usually accepted because there's little than can be done to mitigate these risks.Incorrect Answers:B: Transference transfers the risk ownership to a third party, usually for a fee. C: Enhance is used for a positive risk event, not for force majeure.D: Mitigation isn't the best choice, as this lowers the probability and/or impact of the risk event.
You are the project manager of GHT project. You have applied certain control to prevent the unauthorized changes in your project. Which of the following control you would have applied for this purpose?
Answer(s): C
Configuration management control is a family of controls that addresses both configuration management and change management. Change control practices prevent unauthorized changes. They include goals such as configuring systems for least functionality as a primary method of hardening systems.Incorrect Answers:A: The Personal security control is family of controls that includes aspects of personnel security. It includes personnel screening, termination, and transfer.B: Access control is the family of controls that helps an organization implement effective access control. They ensure that users have the rights and permissions they need to perform their jobs, and no more. It includes principles such as least privilege and separation of duties.D: Physical and environment protection control are the family that provides an extensive number of controls related to physical security.
You are the project manager for BlueWell Inc. You have noticed that the risk level in your project increases above the risk tolerance level of your enterprise. You have applied several risk responses. Now you have to update the risk register in accordance to risk response process. All of the following are included in the risk register except for which item?
The risk register does not examine the network diagram and the critical path. There may be risks associated with the activities on the network diagram, but it does not address the network diagram directly.The risk register is updated at the end of the plan risk response process with the information that was discovered during the process. The response plans are recorded in the risk register. In the risk register, risk is stated in order of priority, i.e., those with the highest potential for threat or opportunity first. Some risks might not require response plans at all, but then too they should be put on a watch list and monitored throughout the project. Following elements should appear in the risk register: List of identified risks, including their descriptions, root causes, and how the risks impact the project objectivesRisk owners and their responsibilityOutputs from the Perform Qualitative Analysis process Agreed-upon response strategiesRisk triggersCost and schedule activities needed to implement risk responses Contingency plansFallback plans, which are risk response plans that are executed when the initial risk response plan proves to be ineffectiveContingency reservesResidual risk, which is a leftover risk that remains after the risk response strategy has been implemented Secondary risks, which are risks that come about as a result of implementing a risk response
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