Exam 7: Managing Risk

Risk management is a reactive approach that is designed to ensure that surprises are reduced and that negative consequences associated with undesirable events are minimized.

When considering risk value,the lower the value,the higher the level of risk.

What is Change Control Management and what function does it perform?

The risk assessment form contains all of the following EXCEPT

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

Give a real life example of mitigating a risk,avoiding a risk,transferring a risk and retaining a risk.

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

A Risk Response Matrix contains all of the following EXCEPT

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

Which of the following groups should NOT be a part of the risk identification process?

Risks that can result in a system or process that will not work are known as

When considering risk response development,changing the plan to eliminate the risk or condition is known as ____________ the risk.

The first step in the risk management process is ________.

The event or point in time when a contingency plan will be implemented is called a _________.

What is the purpose of using tools such as a risk assessment form and a risk severity matrix?

When considering risk response development,passing risk to another party instead of changing it is known as ____________ the risk.

After your team has successfully identified potential risks that could affect the project,what is the next step?

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

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.