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The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com - The answer is at the very bottom:
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Joe is working as a project manager in a highway construction project. He wants to use a fixed price contract instead of cost-plus contract. The risk response strategy he is using in this case is an example of?
A) Risk Avoidance
B) Risk Transference
C) Risk Mitigation
D) Risk Acceptance
Hint:
The project manager in this example is currently performing the Conduct Procurements process but the answer is in the Plan Risk Responses process.
All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try the PMP Exam Simulator free for 3 days. We also offer 110 free questions at http://www.free-pm-exam-questions.com. We are a PMI Registered Education Provider.
ANSWER AND EXPLANATION:
The correct answer is B
Explanation: Risk Transference requires shifting some or all of the negative impact of a threat, along with the ownership of the response. A fixed price contract may transfer risk to the seller, whereas a cost-plus contract may transfer cost risk to the buyer.
Reference: PMBOK Guide 4th Edition, page 304
Posted on: June 13, 2012 06:53 AM |
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