Question 1

Explain decision trees and expected monetary value.

Accepted Answer

A decision tree is a diagramming analysi

Question 2

One main output of the _____ process is a risk register.

Accepted Answer

The answer of  One main output of the _____ process...

Question 3

_____ is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.

Accepted Answer

The answer of  _____ is a technique by which a...

Question 4

The term _____ is used to describe risks that the project team has identified and analyzed.

Accepted Answer

The answer of  The term _____ is used to describe...

Question 5

The _____ lists the relative probability of a risk occurring and the relative impact of the risk occurring.

Accepted Answer

A)  Top Ten Risk Item Tracking chart 
B)  requirements traceability matrix 
C)  probability/impact matrix 
D)  expectations management matrix 
A)  Top Ten Risk Item Tracking chart 
B)  requirements traceability matrix 
C)  probability/impact matrix 
D)  expectations management matrix

Question 6

The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

Accepted Answer

A) True 
 B)False

Question 7

_____ involves accepting the consequences should a risk occur.

Accepted Answer

The answer of  _____ involves accepting the consequences should a...

Question 8

A(n) _____ is a hierarchy of potential risk categories for a project.

Accepted Answer

risk break

Question 9

_____ are numbers that represent the overall risk of specific events, based on their probability of occurring and the consequences to the project if they do occur.

Accepted Answer

The answer of  _____ are numbers that represent the overall...

Question 10

Which document contains results of various risk management processes; it is often displayed in a table or spreadsheet format?

Accepted Answer

A)  risk register 
B)  influence diagram 
C)  process flow chart 
D)  work breakdown structure 
A)  risk register 
B)  influence diagram 
C)  process flow chart 
D)  work breakdown structure

Question 11

Which process involves determining what risks are likely to affect a project and documenting the characteristics of each?

Accepted Answer

A)  identifying risks 
B)  planning risk management 
C)  performing qualitative risk analysis 
D)  performing quantitative risk analysis 
A)  identifying risks 
B)  planning risk management 
C)  performing qualitative risk analysis 
D)  performing quantitative risk analysis

Question 12

Which type of person achieves a balance between risk and payoff?

Accepted Answer

A)  risk-seeking 
B)  risk-averse 
C)  risk-fearing 
D)  risk-neutral 
A)  risk-seeking 
B)  risk-averse 
C)  risk-fearing 
D)  risk-neutral

Question 13

Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

Accepted Answer

A) True 
 B)False

Question 14

The main output of qualitative risk analysis is updating the _____. 
.

Accepted Answer

The answer of  The main output of qualitative risk analysis...

Question 15

Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.

Accepted Answer

A) True 
 B)False

Question 16

_____ is the amount of satisfaction or pleasure received from a potential payoff.

Accepted Answer

The answer of  _____ is the amount of satisfaction or...

Question 17

Which technique is used to show the effects of changing one or more variables on an outcome?

Accepted Answer

A)  sensitivity analysis 
B)  decision tree 
C)  Monte Carlo analysis 
D)  systems analysis 
A)  sensitivity analysis 
B)  decision tree 
C)  Monte Carlo analysis 
D)  systems analysis

Question 18

_____ are funds included in the cost baseline that can be used to mitigate cost or schedule overruns if known risks occur.

Accepted Answer

Contingenc

Question 19

Top Ten Risk Item Tracking is a quantitative risk analysis tool.

Accepted Answer

A) True 
 B)False

Question 20

Which process involves prioritizing risks based on their probability of occurrence and impact?

Accepted Answer

A)  performing qualitative risk analysis 
B)  planning risk management 
C)  monitoring and controlling risks 
D)  project closing 
A)  performing qualitative risk analysis 
B)  planning risk management 
C)  monitoring and controlling risks 
D)  project closing

Explain decision trees and expected monetary value.

One main output of the _____ process is a risk register.

_____ is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.

The term _____ is used to describe risks that the project team has identified and analyzed.

The _____ lists the relative probability of a risk occurring and the relative impact of the risk occurring.

The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

_____ involves accepting the consequences should a risk occur.

A(n) _____ is a hierarchy of potential risk categories for a project.

_____ are numbers that represent the overall risk of specific events, based on their probability of occurring and the consequences to the project if they do occur.

Which document contains results of various risk management processes; it is often displayed in a table or spreadsheet format?

Which process involves determining what risks are likely to affect a project and documenting the characteristics of each?

Which type of person achieves a balance between risk and payoff?

Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

The main output of qualitative risk analysis is updating the _____. .

Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.

_____ is the amount of satisfaction or pleasure received from a potential payoff.

Which technique is used to show the effects of changing one or more variables on an outcome?

_____ are funds included in the cost baseline that can be used to mitigate cost or schedule overruns if known risks occur.

Top Ten Risk Item Tracking is a quantitative risk analysis tool.

Which process involves prioritizing risks based on their probability of occurrence and impact?

Introduction to Project Management

The Project Management Information Technology Context

The Project Management Process Groups

Project Integration Management

Project Scope Management

Project Schedule Management

Project Cost Management

Project Quality Management

Project Resource Management

Project Communications Management

Project Procurement Management

Project Stakeholder Management

Filters

Exam 11: Project Risk Management

Explain decision trees and expected monetary value.

One main output of the _____ process is a risk register.

_____ is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.

The term _____ is used to describe risks that the project team has identified and analyzed.

The _____ lists the relative probability of a risk occurring and the relative impact of the risk occurring.

The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

_____ involves accepting the consequences should a risk occur.

A(n) _____ is a hierarchy of potential risk categories for a project.

_____ are numbers that represent the overall risk of specific events, based on their probability of occurring and the consequences to the project if they do occur.

Which document contains results of various risk management processes; it is often displayed in a table or spreadsheet format?

Which process involves determining what risks are likely to affect a project and documenting the characteristics of each?

Which type of person achieves a balance between risk and payoff?

Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

The main output of qualitative risk analysis is updating the _____. .

Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.

_____ is the amount of satisfaction or pleasure received from a potential payoff.

Which technique is used to show the effects of changing one or more variables on an outcome?

_____ are funds included in the cost baseline that can be used to mitigate cost or schedule overruns if known risks occur.

Top Ten Risk Item Tracking is a quantitative risk analysis tool.

Which process involves prioritizing risks based on their probability of occurrence and impact?

Introduction to Project Management

The Project Management Information Technology Context

The Project Management Process Groups

Project Integration Management

Project Scope Management

Project Schedule Management

Project Cost Management

Project Quality Management

Project Resource Management

Project Communications Management

Project Procurement Management

Project Stakeholder Management

Filters