Question 1

A ________ presents a hierarchical organization of risks based on categories such as operational,strategic,finance,external,and project management.

Accepted Answer

A)  Risk Management Plan 
B)  Risk Register 
C)  Risk Breakdown Structure (RBS) 
D)  Decision Tree 
A)  Risk Management Plan 
B)  Risk Register 
C)  Risk Breakdown Structure (RBS) 
D)  Decision Tree

Question 2

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 all 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. 
A)  Team members assess the probability of occurrence and severity of impact for identified risks. 
B)  Team members develop contingency plans for all 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.

Question 3

All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:​

Accepted Answer

A)  Risk response planning should address both opportunities and threats. 
B)  Responses should be created for every identified project risk, regardless of the risk score. 
C)  The expectations of the sponsor and key stakeholders should influence the risk responses that are developed. 
D)  Often multiple strategies are identified for a single risk. 
A)  Risk response planning should address both opportunities and threats. 
B)  Responses should be created for every identified project risk, regardless of the risk score. 
C)  The expectations of the sponsor and key stakeholders should influence the risk responses that are developed. 
D)  Often multiple strategies are identified for a single risk.

Question 4

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

Question 5

The process of defining how to conduct risk management activities for a project is known as Project Risk Absorption Methodology (PRAM).

Accepted Answer

A) True 
 B)False

Question 6

Which of the following activities illustrates a risk response strategy designed to mitigate a threat?

Accepted Answer

A)  adopt a fixed price type contract 
B)  train a team member to cover for a potentially unavailable key resource 
C)  change the project plan or scope 
D)  develop change control procedures 
A)  adopt a fixed price type contract 
B)  train a team member to cover for a potentially unavailable key resource 
C)  change the project plan or scope 
D)  develop change control procedures

Question 7

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 8

Once risks have been identified and analyzed,the project team decides how they will handle each risk.

Accepted Answer

A) True 
 B)False

Question 9

In Agile projects early risk planning,assessment and response planning is done at a high level,and more detailed and timely risk management occurs during the planning of each subsequent iteration,in daily stand-up meetings,and in retrospectives at the end of each iteration.

Accepted Answer

A) True 
 B)False

Question 10

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 breach 
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 breach

Question 11

Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis?​

Accepted Answer

A)  The project team begins by identifying strengths, weaknesses, opportunities and threats. 
B)  The team organizes assumptions and constraints in a fishbone pattern. 
C)  The team lists the risk as the "effect" in a box at the head of a fish, then names the big bones. 
D)  Team members are encouraged to keep asking "when?" to break down risks into more detailed causes. 
A)  The project team begins by identifying strengths, weaknesses, opportunities and threats. 
B)  The team organizes assumptions and constraints in a fishbone pattern. 
C)  The team lists the risk as the "effect" in a box at the head of a fish, then names the big bones. 
D)  Team members are encouraged to keep asking "when?" to break down risks into more detailed causes.

Question 12

The purpose of risk management is to eliminate all project risk.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  identify trigger condition 
B)  assign more or better resources 
C)  purchase insurance 
D)  give the project more visibility 
A)  identify trigger condition 
B)  assign more or better resources 
C)  purchase insurance 
D)  give the project more visibility

Question 14

The cost per risk for risks discovered early in the project is often more than the cost per risk for risks discovered late because there is more opportunity for the risk to impact several dimensions of the project.

Accepted Answer

A) True 
 B)False

Question 15

How might you approach the prioritization of the risk events identified by your project team and subject matter experts? How would you use the results of this prioritization effort to guide the development of risk responses?

Accepted Answer

Key concepts to be covered in the respon

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

When a project team elects to purchase insurance,or adopts a fixed price contract with a vendor,or hires an expert,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 threat 
A)  avoid a threat 
B)  transfer a threat 
C)  mitigate a threat 
D)  assume a threat

Question 18

Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have for cost,schedule,scope,and quality.

Accepted Answer

A) True 
 B)False

Question 19

All of the following methods have proven to be useful techniques to help project teams identify the risks that might impact the project EXCEPT:

Accepted Answer

A)  reviewing project documents 
B)  documenting lessons learned 
C)  interviewing stakeholders 
D)  brainstorming among team members and subject matter experts 
A)  reviewing project documents 
B)  documenting lessons learned 
C)  interviewing stakeholders 
D)  brainstorming among team members and subject matter experts

Question 20

All of these describe contemporary methods of risk prioritization in project management EXCEPT:

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)  Results of quantitative risk analysis are used for clarification purposes and are typically not documented in the risk register. 
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)  Results of quantitative risk analysis are used for clarification purposes and are typically not documented in the risk register.

A ________ presents a hierarchical organization of risks based on categories such as operational,strategic,finance,external,and project management.

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

All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:

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

The process of defining how to conduct risk management activities for a project is known as Project Risk Absorption Methodology (PRAM).

Which of the following activities illustrates a risk response strategy designed to mitigate a threat?

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

Once risks have been identified and analyzed,the project team decides how they will handle each risk.

In Agile projects early risk planning,assessment and response planning is done at a high level,and more detailed and timely risk management occurs during the planning of each subsequent iteration,in daily stand-up meetings,and in retrospectives at the end of each iteration.

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?

Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis?

The purpose of risk management is to eliminate all project risk.

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

The cost per risk for risks discovered early in the project is often more than the cost per risk for risks discovered late because there is more opportunity for the risk to impact several dimensions of the project.

How might you approach the prioritization of the risk events identified by your project team and subject matter experts? How would you use the results of this prioritization effort to guide the development of risk responses?

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

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

Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have for cost,schedule,scope,and quality.

All of the following methods have proven to be useful techniques to help project teams identify the risks that might impact the project EXCEPT:

All of these describe contemporary methods of risk prioritization in project management EXCEPT:

Introduction to Project Management

Project Selection and Prioritization

Chartering Projects

Organizational Capability: Structure, Culture and Roles

Leading and Managing Project Teams

Stakeholder Analysis and Communication Planning

Scope Planning

Scheduling Projects

Resourcing Projects

Budgeting Projects

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Determining Project Progress and Results

Finishing the Project and Realizing the Benefits

Filters

Exam 11: Project Risk Planning

A ________ presents a hierarchical organization of risks based on categories such as operational,strategic,finance,external,and project management.

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

All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:​

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

The process of defining how to conduct risk management activities for a project is known as Project Risk Absorption Methodology (PRAM).

Which of the following activities illustrates a risk response strategy designed to mitigate a threat?

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

Once risks have been identified and analyzed,the project team decides how they will handle each risk.

In Agile projects early risk planning,assessment and response planning is done at a high level,and more detailed and timely risk management occurs during the planning of each subsequent iteration,in daily stand-up meetings,and in retrospectives at the end of each iteration.

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?​

Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis?​

The purpose of risk management is to eliminate all project risk.

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

The cost per risk for risks discovered early in the project is often more than the cost per risk for risks discovered late because there is more opportunity for the risk to impact several dimensions of the project.

How might you approach the prioritization of the risk events identified by your project team and subject matter experts? How would you use the results of this prioritization effort to guide the development of risk responses?

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

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

Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have for cost,schedule,scope,and quality.

All of the following methods have proven to be useful techniques to help project teams identify the risks that might impact the project EXCEPT:

All of these describe contemporary methods of risk prioritization in project management EXCEPT:

Introduction to Project Management

Project Selection and Prioritization

Chartering Projects

Organizational Capability: Structure, Culture and Roles

Leading and Managing Project Teams

Stakeholder Analysis and Communication Planning

Scope Planning

Scheduling Projects

Resourcing Projects

Budgeting Projects

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Determining Project Progress and Results

Finishing the Project and Realizing the Benefits

Filters

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

All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT:

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?

Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis?