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When undertaking Risk Management Review for an upcoming new project, which action should the Project Manager do after conducting qualitative risk analysis? Plan risk responses Monitor risks Conduct risk identification Identify risk trigger points Why would a firm conduct Make or Buy analysis as part of project procurement planning? Firm possesses technological/information secrets or proprietary technology Project Manager must ensure that Scope Creep does not impact resource availability Firm wants to ensure they have all items available on the market Firm has internal resources available and needs to compare costs 1 Which of the following are benefits of the Change Control Process? Causes of change are identified Project Sponsor is not penalized Implementation and effect of changes are transparent to all Individuals submitting too many changes can be penalized 11 III IV. How would a firm with a high level of Risk Tolerance manage its projects? Communicate primarily via a bottom-up collective team based approach Have a comprehensive risk mitigation/contingency plan in place Have all key decisions be subject to Senior Management approval Communicate primarily using a Push approach