Exam 7: Managing Risk

The ________ matrix is divided into red, yellow, and green zones representing major, moderate, and minor risks.

Testing a new project on a smaller isolated area prior to installing it for the entire organization is an example of ________ a risk.

The Risk Severity Matrix rates risk events based upon schedule and cost.

A ________ is a list of questions that address traditional areas of uncertainty on a project.

An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed.

The "Snapshot from Practice" case where Ellipsus Systems developed parallel prototype systems (WAP and JAVA) is an example of _________ a risk.

The probability that a risk event will occur is higher during the initial stages of a project.

________ reserves are controlled by the project manager and used to cover major unforeseen risks to the entire project.

A risk profile is a list of questions that have been developed and refined from previous, similar projects.

Change management systems are designed to accomplish all of the following except:

The likelihood of a risk event occurring ________ as a project goes through its life cycle.

Which of the following would not be considered a threat?

Which of the following is not one of the steps in the risk management process?

Which of the following is typically included in risk profiles?

The FMEA method calculates a risk value by assigning ease of detection ratings to the key risk elements.

Contingency funding is made up of budget reserves and management reserves.

What is a risk profile and what benefits does it provide to risk management?

During risk identification the smaller risks should be identified first because they will naturally lead to identifying the larger risks.

The cost impact of a risk event occurring as a project proceeds through its life cycle tends to

The 1999 NASA Mars Climate Orbiter is an example of