Question 1

Steps involved for the nominal group technique for risk management include each of the following except

Accepted Answer

A) using JAD sessions to capture user requirements. 
B) gathering the core team for a risk workshop. 
C) using a flip chart or whiteboard to collect information from the team. 
D) begin by asking each person to identify potential areas of risk. 
A) using JAD sessions to capture user requirements. 
B) gathering the core team for a risk workshop. 
C) using a flip chart or whiteboard to collect information from the team. 
D) begin by asking each person to identify potential areas of risk.

Question 2

The process that allows project managers to balance operational and economic costs of protective measures to achieve project success best defines

Accepted Answer

A) risk identification. 
B) risk assessment. 
C) risk avoidance. 
D) risk management. 
A) risk identification. 
B) risk assessment. 
C) risk avoidance. 
D) risk management.

Question 3

Risks are managed by

Accepted Answer

A) transferring risk. 
B) avoiding risk. 
C) accepting risk. 
D) all of the above. 
A) transferring risk. 
B) avoiding risk. 
C) accepting risk. 
D) all of the above.

Question 4

A log of identified risks along with its owners,risk scores,RPNs,risk responses,triggers,residual and secondary risks,and contingency plans for cost and schedule best defines

Accepted Answer

A) risk register. 
B) risk charter. 
C) risk matrix. 
D) contingency plan. 
A) risk register. 
B) risk charter. 
C) risk matrix. 
D) contingency plan.

Question 5

The overall risk or exposure of the project at a particular timeframe best defines

Accepted Answer

A) investment cost. 
B) rate of exposure. 
C) total cost of ownership. 
D) risk landscape. 
A) investment cost. 
B) rate of exposure. 
C) total cost of ownership. 
D) risk landscape.

Question 6

On an RBS for a software development project,product risks are related to

Accepted Answer

A) corporate and stakeholders. 
B) requirements and design. 
C) cultural and economic. 
D) project team and control. 
A) corporate and stakeholders. 
B) requirements and design. 
C) cultural and economic. 
D) project team and control.

Question 7

A systematic approach to identify what can go wrong in a project and be prepared with plans,strategies,and approaches to mitigate and manage risks best defines

Accepted Answer

A) SWOT analysis. 
B) contingency planning. 
C) risk assessment. 
D) risk avoidance. 
A) SWOT analysis. 
B) contingency planning. 
C) risk assessment. 
D) risk avoidance.

Question 8

With careful planning,project risk can be reduced to zero.

Accepted Answer

A) True 
 B)False

Question 9

Indications or warning signs that a risk has occurred or is about to occur best defines

Accepted Answer

A) risk alerts. 
B) monitor alerts. 
C) project triggers. 
D) risk triggers. 
A) risk alerts. 
B) monitor alerts. 
C) project triggers. 
D) risk triggers.

Question 10

Equipment risks are external risks.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following expands the concept of a simple risk score based on occurrence,outcome,and detection of risks by adding the detection attribute to a risk event?

Accepted Answer

A) SWOT 
B) PFMEA 
C) JAD 
D) RRPD 
A) SWOT 
B) PFMEA 
C) JAD 
D) RRPD

Question 12

Project risks can be classified as internal or external.

Accepted Answer

A) True 
 B)False

Question 13

Project managers or organizations may be viewed as

Accepted Answer

A) risk-averse decision makers. 
B) risk-seeking decision makers. 
C) risk-neutral decision makers. 
D) all of the above. 
A) risk-averse decision makers. 
B) risk-seeking decision makers. 
C) risk-neutral decision makers. 
D) all of the above.

Question 14

A hierarchical structure of potential risk sources that can be used effectively to structure,identify,and understand risks best defines

Accepted Answer

A) opportunity breakdown structure. 
B) project work breakdown structure. 
C) risk breakdown structure. 
D) risk iteration structure. 
A) opportunity breakdown structure. 
B) project work breakdown structure. 
C) risk breakdown structure. 
D) risk iteration structure.

Question 15

Exploiting,sharing,enhancing,and accepting are four ways to deal with positive risks.

Accepted Answer

A) True 
 B)False

Question 16

The risk priority number is computed as Occurrence ∗ Outcome ∗ Detection.

Accepted Answer

A) True 
 B)False

Question 17

A project has more risks later in its lifespan,as persisting risks become more lethal and detrimental in later phases.

Accepted Answer

A) True 
 B)False

Question 18

Risk mode measures the likelihood that an event described in the risk consequence portion of the risk statement will actually occur.

Accepted Answer

A) True 
 B)False

Question 19

Defining each risk by a set of standard parameters including likelihood or probability,severity or impact,detection process,and mitigation plans best defines

Accepted Answer

A) quantitative risk management. 
B) qualitative risk management. 
C) risk probability. 
D) risk regression. 
A) quantitative risk management. 
B) qualitative risk management. 
C) risk probability. 
D) risk regression.

Question 20

Overly optimistic forecasts including project plans result from external risks.

Accepted Answer

A) True 
 B)False

Steps involved for the nominal group technique for risk management include each of the following except

The process that allows project managers to balance operational and economic costs of protective measures to achieve project success best defines

Risks are managed by

A log of identified risks along with its owners,risk scores,RPNs,risk responses,triggers,residual and secondary risks,and contingency plans for cost and schedule best defines

The overall risk or exposure of the project at a particular timeframe best defines

On an RBS for a software development project,product risks are related to

A systematic approach to identify what can go wrong in a project and be prepared with plans,strategies,and approaches to mitigate and manage risks best defines

With careful planning,project risk can be reduced to zero.

Indications or warning signs that a risk has occurred or is about to occur best defines

Equipment risks are external risks.

Which of the following expands the concept of a simple risk score based on occurrence,outcome,and detection of risks by adding the detection attribute to a risk event?

Project risks can be classified as internal or external.

Project managers or organizations may be viewed as

A hierarchical structure of potential risk sources that can be used effectively to structure,identify,and understand risks best defines

Exploiting,sharing,enhancing,and accepting are four ways to deal with positive risks.

The risk priority number is computed as Occurrence ∗ Outcome ∗ Detection.

A project has more risks later in its lifespan,as persisting risks become more lethal and detrimental in later phases.

Risk mode measures the likelihood that an event described in the risk consequence portion of the risk statement will actually occur.

Defining each risk by a set of standard parameters including likelihood or probability,severity or impact,detection process,and mitigation plans best defines

Overly optimistic forecasts including project plans result from external risks.

Projects and Project Management

Process and Methods

Project Management Tools

Project Initiation

Project Planning

Quality, Performance and Value

Project Scheduling

Resources, Costing, and Control

Project Closure

Project Organizational Structures

Project Success

Filters

Exam 6: Risk Management

Steps involved for the nominal group technique for risk management include each of the following except

The process that allows project managers to balance operational and economic costs of protective measures to achieve project success best defines

Risks are managed by

A log of identified risks along with its owners,risk scores,RPNs,risk responses,triggers,residual and secondary risks,and contingency plans for cost and schedule best defines

The overall risk or exposure of the project at a particular timeframe best defines

On an RBS for a software development project,product risks are related to

A systematic approach to identify what can go wrong in a project and be prepared with plans,strategies,and approaches to mitigate and manage risks best defines

With careful planning,project risk can be reduced to zero.

Indications or warning signs that a risk has occurred or is about to occur best defines

Equipment risks are external risks.

Which of the following expands the concept of a simple risk score based on occurrence,outcome,and detection of risks by adding the detection attribute to a risk event?

Project risks can be classified as internal or external.

Project managers or organizations may be viewed as

A hierarchical structure of potential risk sources that can be used effectively to structure,identify,and understand risks best defines

Exploiting,sharing,enhancing,and accepting are four ways to deal with positive risks.

The risk priority number is computed as Occurrence ∗ Outcome ∗ Detection.

A project has more risks later in its lifespan,as persisting risks become more lethal and detrimental in later phases.

Risk mode measures the likelihood that an event described in the risk consequence portion of the risk statement will actually occur.

Defining each risk by a set of standard parameters including likelihood or probability,severity or impact,detection process,and mitigation plans best defines

Overly optimistic forecasts including project plans result from external risks.

Projects and Project Management

Process and Methods

Project Management Tools

Project Initiation

Project Planning

Quality, Performance and Value

Project Scheduling

Resources, Costing, and Control

Project Closure

Project Organizational Structures

Project Success

Filters