Subtitles of the Movie

In this movie, we'll review the workbook exercises of the risk monitoring and controlling process found within your Work Files. Unlike the exam practice questions, workbook exercises are meant to review the information covered during the knowledge area's process review movies, focusing on a single process at a time. For the risk monitoring and control process, there are a total of nine questions, which we'll review in this movie. Question one: what is the purpose of this process? The purpose is to track identified risk, monitor residual risk, identify new risk, execute the risk response plans and continuously evaluate their effectiveness. On your screen you see the answers for questions two, three and four covering the inputs, the tools and techniques and outputs of the process. As an added exercise, connect each tool and technique with the input that it would utilize. Because we're monitoring and controlling risks in this process, we'll see requested changes and recommended corrective action and preventive actions emerge. Notice that there are also updates to the risk register, which will be covered as a separate question within this set of exercises. Question five says write in the definition for the following three terms. And the definition for the first, risk reassessment is regularly reassessing risk. For the second, variance and trend analysis, it's utilized to spot trends in project performance as a way of better identifying deviations from the project baselines and lastly, risk audits, which are audits on risk that look at the effectiveness of risk responses by examining and documenting them. Question six, seven and eight are multiple choices with the same three options. Question six: which of the following compares a plan schedule of technical achievements to actual technical achievements reached? And we have an option of A, reserve analysis; B, technical performance measurement or C, status meetings. The answer is B, technical performance measurement. Question seven: which of the following three options allows for frequent discussion on risk, therefore addressing risk and risk activities? The answer is C, status meetings. And question eight: which of the following looks at the remaining contingency reserve and compares it with the amount of remaining risk? The answer is A, reserve analysis. And in question nine we address risk register updates. The risk monitoring and controlling process results in two additional updates to the risk register. What are they? And they are outcomes of risk activities and the outcome of risk. That covers all the workbook exercises included for the risk monitoring and controlling process, which brings this movie to a close.