Question 1

The easiest and most commonly used technique for analyzing risks is ________.

Accepted Answer

scenario analysis
Explanation:

Question 2

Which of the following is used to review activity and project risk?

Accepted Answer

A) NPV 
B) S-curves 
C) PERT 
D) Decision trees 
E) All of these can be used 
A) NPV 
B) S-curves 
C) PERT 
D) Decision trees 
E) All of these can be used

Question 3

In a Risk Severity Matrix a green zone risk is considered inconsequential and ignored unless their status changes.

Accepted Answer

A) True 
 B)False

Question 4

A ____________ is useful for summarizing how the project team plans to manage risks that have been identified.

Accepted Answer

Risk Response Matrix
Explanation: Risk r

Question 5

The first step in the risk management process is Risk Assessment.

Accepted Answer

A) True 
 B)False

Question 6

A Risk Response Matrix contains all of the following except

Accepted Answer

A) Contingency plan 
B) Trigger 
C) Who is responsible? 
D) Response 
E) All of these are included in the matrix 
A) Contingency plan 
B) Trigger 
C) Who is responsible? 
D) Response 
E) All of these are included in the matrix

Question 7

Which of the following is not one of the potential responses to a specific risk event?

Accepted Answer

A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing 
A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing

Question 8

The two scales of a risk severity matrix measure

Accepted Answer

A) Time, cost 
B) Cost, schedule 
C) Impact, cost 
D) Time, impact 
E) Likelihood, impact 
A) Time, cost 
B) Cost, schedule 
C) Impact, cost 
D) Time, impact 
E) Likelihood, impact

Question 9

If a risk event is very unlikely to occur the project owner would probably ________ the risk.

Accepted Answer

retain
Explanation: Some risks are so la

Question 10

When the entertainment industry formed a consortium to define a common operating format for DVD it was ________ the risk.

Accepted Answer

sharing
Explanation: This strategy invol

Question 11

Budget reserves are setup to cover identified risks associated with specific segments of a project while management reserves are set up to cover unidentified risks associated with the total project.

Accepted Answer

A) True 
 B)False

Question 12

Fixed price contracts are an example of transferring risk from an owner to a contractor.

Accepted Answer

A) True 
 B)False

Question 13

Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.

Accepted Answer

A) Management 
B) Budget 
C) Contingency 
D) Padded 
E) Just in case 
A) Management 
B) Budget 
C) Contingency 
D) Padded 
E) Just in case

Question 14

Project managers need to establish an environment in which participants feel comfortable raising concerns and admitting mistakes.

Accepted Answer

A) True 
 B)False

Question 15

One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences.

Accepted Answer

A) True 
 B)False

Question 16

Identify and briefly describe the five ways to respond to identified risks.

Accepted Answer

1.Mitigate the risk; duplicate systems,

Question 17

Change management systems involve reporting, controlling, and recording changes to the project baseline.

Accepted Answer

A) True 
 B)False

Question 18

A ________ identifies what to do if a potential risk event actually occurs.

Accepted Answer

risk respo

Question 19

The risk associated with one of the key members being stuck by lightning would most likely be handled by which of the following?

Accepted Answer

A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing 
A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing

Question 20

The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following?

Accepted Answer

A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing 
A) Mitigating 
B) Retaining 
C) Ignoring 
D) Transferring 
E) Sharing

The easiest and most commonly used technique for analyzing risks is ________.

Which of the following is used to review activity and project risk?

In a Risk Severity Matrix a green zone risk is considered inconsequential and ignored unless their status changes.

A ____________ is useful for summarizing how the project team plans to manage risks that have been identified.

The first step in the risk management process is Risk Assessment.

A Risk Response Matrix contains all of the following except

Which of the following is not one of the potential responses to a specific risk event?

The two scales of a risk severity matrix measure

If a risk event is very unlikely to occur the project owner would probably ________ the risk.

When the entertainment industry formed a consortium to define a common operating format for DVD it was ________ the risk.

Budget reserves are setup to cover identified risks associated with specific segments of a project while management reserves are set up to cover unidentified risks associated with the total project.

Fixed price contracts are an example of transferring risk from an owner to a contractor.

Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.

Project managers need to establish an environment in which participants feel comfortable raising concerns and admitting mistakes.

One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences.

Identify and briefly describe the five ways to respond to identified risks.

Change management systems involve reporting, controlling, and recording changes to the project baseline.

A ________ identifies what to do if a potential risk event actually occurs.

The risk associated with one of the key members being stuck by lightning would most likely be handled by which of the following?

The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following?

Modern Project Management

Organization Strategy and Project Selection

Organization: Structure and Culture

Defining the Project

Estimating Project Times and Costs

Developing a Project Plan

Scheduling Resources and Costs

Reducing Project Duration

Leadership: Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

International Projects

Oversight

An Introduction to Agile Project Management

Project Management Career Paths

Filters

Exam 7: Managing Risk

The easiest and most commonly used technique for analyzing risks is ________.

Which of the following is used to review activity and project risk?

In a Risk Severity Matrix a green zone risk is considered inconsequential and ignored unless their status changes.

A ____________ is useful for summarizing how the project team plans to manage risks that have been identified.

The first step in the risk management process is Risk Assessment.

A Risk Response Matrix contains all of the following except

Which of the following is not one of the potential responses to a specific risk event?

The two scales of a risk severity matrix measure

If a risk event is very unlikely to occur the project owner would probably ________ the risk.

When the entertainment industry formed a consortium to define a common operating format for DVD it was ________ the risk.

Budget reserves are setup to cover identified risks associated with specific segments of a project while management reserves are set up to cover unidentified risks associated with the total project.

Fixed price contracts are an example of transferring risk from an owner to a contractor.

Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.

Project managers need to establish an environment in which participants feel comfortable raising concerns and admitting mistakes.

One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences.

Identify and briefly describe the five ways to respond to identified risks.

Change management systems involve reporting, controlling, and recording changes to the project baseline.

A ________ identifies what to do if a potential risk event actually occurs.

The risk associated with one of the key members being stuck by lightning would most likely be handled by which of the following?

The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following?

Modern Project Management

Organization Strategy and Project Selection

Organization: Structure and Culture

Defining the Project

Estimating Project Times and Costs

Developing a Project Plan

Scheduling Resources and Costs

Reducing Project Duration

Leadership: Being an Effective Project Manager

Managing Project Teams

Outsourcing: Managing Interorganizational Relations

Progress and Performance Measurement and Evaluation

Project Closure

International Projects

Oversight

An Introduction to Agile Project Management

Project Management Career Paths

Filters