PMP Question 114

You have been managing a research project that is intended to create Genetically Modified fruits using Genetic Engineering techniques. Since many legal issues are involved in this process, you created contingency allowances by using different quantitative analysis methods to account for cost uncertainty. You have just wrapped-up a brainstorming session with your team in the execution phase to monitor new risks evolved in the project over past few weeks and to establish new risk response plans. What should you do if you want to allocate more contingency reserves to account for new risks?

A. Perform the reserve analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
B. Perform Monte Carlo analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
C. Perform the variance and trend analysis to compare planned results to the actual results
D. Perform the quantitative risk analysis to determine the outstanding risks

A. Perform the reserve analysis to compare the amount of contingency reserves remaining to the amount of risk remaining