Explanation/Reference:
Explanation:
The first step after receiving any change request in a project must be first analyzed for its impact. Changes may be requested by any stakeholder involved with the project. Although, they may be initiated verbally, they should always be recorded in written form and entered into the change management and/or configuration management.
Incorrect Answers:
A, B, D: All these are the required steps depending on the change request. Any change request must be followed by the impact analysis of the change.

Section: Volume C
Explanation:
The activity cost estimates review is valuable in identifying risks as it provides a quantitative assessment of the expected cost to complete the scheduled activities and is expressed as a range, with a width of the range indicating the degrees of risk.
Incorrect Answers:
A: The activity duration estimates review is valuable in identifying risks associated to the time allowances for the activities or projects as a whole, with a width of the range indicating the degrees of risk.
B: This is the output of plan risk management process. A Risk management plan is a document arranged by a project manager to estimate the effectiveness, predict risks, and build response plans to mitigate them. It also consists of the risk assessment matrix.
C: The cost management plan sets how the costs on a project are managed during the project's lifecycle. It defines the format and principles by which the project costs are measured, reported, and controlled. The cost management plan identifies the person responsible for managing costs, those who have the authority to approve changes to the project or its budget, and how cost performance is quantitatively calculated and reported upon.

Section: Volume A
Explanation:
According to the PMBOK, a project risk is always in the future. If the risk event has already happened, then it is an issue, not a risk.
Incorrect Answers:
A: You can identify risks before they occur and not after their occurrence.
B: Risks can only happen in the future.
D: Triggers are warning signs and conditions of risk events, but this answer isn't the best choice for this question.

Section: Volume D