Question 1

All of the following are benefits that can be attributed to the effective use of a risk management plan EXCEPT:

Accepted Answer

A)   It enables project managers to eliminate, or reduce, the impact of some threats.
B)   It enables the project manager to identify and eliminate all risks
C)   It facilitates communication with project stakeholders.
D)   It enables project managers to capitalize on some opportunities.E) C) and D)
F) None of the above

Question 2

The primary output of risk identification is the Risk Identification Matrix (RIM).

Accepted Answer

A) True 
 B)False

Question 3

Perform Quantitative Risk Analysis is the process of prioritizing risks for subsequent further analysis or action by assessing and combining their probability and impact.

Accepted Answer

A) True 
 B)False

Question 4

When a project team elects to purchase insurance,or adopts a fixed price contract with a vendor,or hires external experts - it is demonstrating which of the following risk response strategies?

Accepted Answer

A)   avoid a threat
B)   transfer a threat
C)   mitigate a threat
D)   assume a threatE) A) and B)
F) A) and C)

Question 5

All of the following criteria can be used to categorize project risks EXCEPT:

Accepted Answer

A)   whether the risk is a known known
B)   the project objective that may be impacted by the risk
C)   whether the risk is internal or external to the performing organization
D)   the phase of the project in which the risk may occurE) A) and B)
F) None of the above

Question 6

Figure 10-1 Excerpt from Internet Project Risk Register
-Consider the excerpt of the Internet Project risk register presented in Figure 10-1. Which of the following risk events should receive the highest priority for the development of risk responses?

Accepted Answer

A)   A - project requires new technology and support structure
B)   B - web infrastructure lacks sufficient transaction capacity
C)   C - IS resources are spread too thin
D)   D - The intranet site suffers a security breachE) All of the above
F) B) and D)

Question 7

Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have relative to project objectives.

Accepted Answer

A) True 
 B)False

Question 8

The risk management plan is the document that describes how project risk management will be structured and performed on a project.

Accepted Answer

A) True 
 B)False

Question 9

In some cases,project teams will elect to reduce a threat rather than eliminate it because the effort to completely eliminate a threat is unjustified.

Accepted Answer

A) True 
 B)False

Question 10

Perform Quantitative Risk Analysis is the process of numerically analyzing the effect on overall project objectives of identified risks.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following accurately describes contemporary methods of risk prioritization in project management?

Accepted Answer

A)   Risk prioritization is generally based on the probability of occurrence and severity of impact of each identified risk.
B)   Some organizations place a higher priority on risks that are likely to happen soon.
C)   Some organizations call attention to the risks that are difficult to detect.
D)   All of theseE) B) and C)
F) A) and C)

Question 12

All of the following activities illustrate a risk response strategy designed to exploit an opportunity EXCEPT:

Accepted Answer

A)   increase the probability of the opportunity occurring
B)   increase the impact of the opportunity
C)   purchase insurance
D)   set up an organization to pursue the opportunityE) A) and B)
F) C) and D)

Question 13

Plan Risk Responses focuses on developing options and actions for every identified risk.

Accepted Answer

A) True 
 B)False

Question 14

When complete,the risk register presents the results of both qualitative and quantitative risk analysis as well as risk response planning.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following accurately describes risk in project management?

Accepted Answer

A)   The impact of risk may be positive or negative.
B)   Some projects are void of risk.
C)   Risk assessment should remain objective and uninfluenced by stakeholder priorities.
D)   Project managers should always be risk averseE) B) and D)
F) None of the above

Question 16

The process of determining which risks might affect the project and documenting their characteristics is known as risk charting.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following activities illustrates a risk response strategy designed to research a threat or an opportunity?

Accepted Answer

A)   establish triggers and update them frequently
B)   establish time or cost contingencies
C)   adopt a prototype to learn more about a candidate solution
D)   identify a risk owner to each high priority riskE) A) and D)
F) B) and C)

Question 18

Which of the following describes the activities appropriately performed by the project team during Perform Qualitative Risk Analysis?

Accepted Answer

A)   Team members assess the probability of occurrence and severity of impact for identified risks.
B)   Team members develop contingency plans for even minor risks to avoid adverse impacts to project objectives.
C)   Team members identify potential risk events.
D)   Team members define how to conduct risk management activities for the project.E) B) and C)
F) C) and D)

Question 19

Which of the following quantitative risk analysis techniques relies upon the calculation of net present value to determine if a project should be pursued or abandoned?

Accepted Answer

A)   Failure Mode and Effects Analysis (FME
A)  
B)   Fault Tree Analysis
C)   Financial Engineering
D)   Sunk Cost AnalysisE) None of the above
F) A) and D)

Question 20

Identify five common project risk strategies employed to address threats that your project may face. Give an example of each.

Accepted Answer

The answer of Identify five common project risk strategies employed...

Exam 10: Project Risk Planning

Figure 10-1 Excerpt from Internet Project Risk Register -Consider the excerpt of the Internet Project risk register presented in Figure 10-1. Which of the following risk events should receive the highest priority for the development of risk responses?

Correct AnswerverifiedShow Answer

Which of the following accurately describes contemporary methods of risk prioritization in project management?

Correct AnswerverifiedShow Answer

Perform Quantitative Risk Analysis is the process of prioritizing risks for subsequent further analysis or action by assessing and combining their probability and impact.

Correct AnswerverifiedShow Answer

The primary output of risk identification is the Risk Identification Matrix (RIM).

Correct AnswerverifiedShow Answer

The risk management plan is the document that describes how project risk management will be structured and performed on a project.

Correct AnswerverifiedShow Answer

In some cases,project teams will elect to reduce a threat rather than eliminate it because the effort to completely eliminate a threat is unjustified.

Correct AnswerverifiedShow Answer

Which of the following describes the activities appropriately performed by the project team during Perform Qualitative Risk Analysis?

Correct AnswerverifiedShow Answer

All of the following criteria can be used to categorize project risks EXCEPT:

Correct AnswerverifiedShow Answer

Identify five common project risk strategies employed to address threats that your project may face. Give an example of each.

Correct AnswerverifiedShow Answer

When complete,the risk register presents the results of both qualitative and quantitative risk analysis as well as risk response planning.

Correct AnswerverifiedShow Answer

When a project team elects to purchase insurance,or adopts a fixed price contract with a vendor,or hires external experts - it is demonstrating which of the following risk response strategies?

Correct AnswerverifiedShow Answer

All of the following activities illustrate a risk response strategy designed to exploit an opportunity EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following accurately describes risk in project management?

Correct AnswerverifiedShow Answer

The process of determining which risks might affect the project and documenting their characteristics is known as risk charting.

Correct AnswerverifiedShow Answer

Plan Risk Responses focuses on developing options and actions for every identified risk.

Correct AnswerverifiedShow Answer

Which of the following quantitative risk analysis techniques relies upon the calculation of net present value to determine if a project should be pursued or abandoned?

Correct AnswerverifiedShow Answer

Which of the following activities illustrates a risk response strategy designed to research a threat or an opportunity?

Correct AnswerverifiedShow Answer

Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have relative to project objectives.

Correct AnswerverifiedShow Answer

Perform Quantitative Risk Analysis is the process of numerically analyzing the effect on overall project objectives of identified risks.

Correct AnswerverifiedShow Answer

All of the following are benefits that can be attributed to the effective use of a risk management plan EXCEPT:

Correct AnswerverifiedShow Answer

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