Crucial Exams

Project Management Professional Practice Question

Your project team has completed qualitative and quantitative risk analysis and prioritized several high-impact threats and promising opportunities. The sponsor asks how you will ensure each critical risk is handled proactively. Which document will outline the specific response strategies, assigned owners, required funds, and contingency or fallback actions for those risks?

  • A risk response plan that defines specific actions for addressing individual project risks and the overall project risk, including strategies, budgeting, and contingency plans.

  • A quantitative analysis document that calculates expected monetary value and other numerical risk metrics.

  • Documentation of stakeholders' risk appetite along with the assignment of risk ownership for identified risks.

  • A comprehensive schedule for conducting regular risk audits and reassessments throughout the project.

Project Management Professional
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