Question 1

All of the following are among the classic risk response strategies EXCEPT:

Accepted Answer

A)  share a threat 
B)  transfer a threat 
C)  enhance an opportunity 
D)  avoid a threat 
A)  share a threat 
B)  transfer a threat 
C)  enhance an opportunity 
D)  avoid a threat A

Question 2

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. D

Question 3

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  True

Question 4

In some cases,project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable,rather than eliminate it completely.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following describes the appropriate use of 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)  Assumptions and constraints are organized in a fishbone pattern. 
C)  Although effects are more visible,it is often easier to alter the effect by changing the underlying cause. 
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)  Assumptions and constraints are organized in a fishbone pattern. 
C)  Although effects are more visible,it is often easier to alter the effect by changing the underlying cause. 
D)  Team members are encouraged to keep asking "when?" to break down risks into more detailed causes.

Question 6

A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution.

Accepted Answer

A) True 
 B)False

Question 7

Sometimes the risks posed by a project are so great that an appropriate risk response is to not perform the project at all.

Accepted Answer

A) True 
 B)False

Question 8

Perform Quantitative Risk Analysis is the process of prioritizing risks for subsequent further analysis or action by assessing and combining their probability and impact.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

It is impossible to remove all sources of risk on a project.

Accepted Answer

A) True 
 B)False

Question 11

When the impact of an event is negative,it is considered a risk; when the impact is positive,the event is considered an opportunity.

Accepted Answer

A) True 
 B)False

Question 12

Risk response strategies such as mitigation and exploitation apply to both threats and opportunities.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Which of the following accurately describes risk in project management?

Accepted Answer

A)  A risk may impact the project in a positive or negative way. 
B)  Some projects have no risks. 
C)  Risk assessment should remain objective and uninfluenced by stakeholder priorities. 
D)  Project managers should always be risk averse 
A)  A risk may impact the project in a positive or negative way. 
B)  Some projects have no risks. 
C)  Risk assessment should remain objective and uninfluenced by stakeholder priorities. 
D)  Project managers should always be risk averse

Question 15

Identify and describe three risk identification techniques.What are some of the benefits of each technique?

Accepted Answer

Key concepts to be covered in the respon

Question 16

In agile projects,early risk planning is done at a detail level.

Accepted Answer

A) True 
 B)False

Question 17

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:

Accepted Answer

A)  Large,complex and expensive projects stand to benefit from the additional rigor of quantitative risk analysis techniques. 
B)  Quantitative techniques are used when it is critical to predict the probability of completing a project on time or within budget with confidence. 
C)  Brainstorming techniques are used by the team and other stakeholders to identify as many project risks as possible. 
D)  Decision Tree Analysis and Simulation techniques such as Monte Carlo Analysis are examples of useful quantitative risk analysis techniques. 
A)  Large,complex and expensive projects stand to benefit from the additional rigor of quantitative risk analysis techniques. 
B)  Quantitative techniques are used when it is critical to predict the probability of completing a project on time or within budget with confidence. 
C)  Brainstorming techniques are used by the team and other stakeholders to identify as many project risks as possible. 
D)  Decision Tree Analysis and Simulation techniques such as Monte Carlo Analysis are examples of useful quantitative risk analysis techniques.

Question 18

On agile projects,detailed risk management activities may occur during all of the following times EXCEPT:

Accepted Answer

A)  While planning each subsequent iteration. 
B)  During early risk planning at the start of the project. 
C)  In daily stand-up meetings. 
D)  During retrospectives at the end of each iteration. 
A)  While planning each subsequent iteration. 
B)  During early risk planning at the start of the project. 
C)  In daily stand-up meetings. 
D)  During retrospectives at the end of each iteration.

Question 19

The primary output of risk identification is the Risk Identification Matrix (RIM).

Accepted Answer

A) True 
 B)False

Question 20

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

All of the following are among the classic risk response strategies EXCEPT:

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

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

In some cases,project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable,rather than eliminate it completely.

Which of the following describes the appropriate use of a cause-and-effect diagram to support project risk analysis?

A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution.

Sometimes the risks posed by a project are so great that an appropriate risk response is to not perform the project at all.

Perform Quantitative Risk Analysis is the process of prioritizing risks for subsequent further analysis or action by assessing and combining their probability and impact.

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

It is impossible to remove all sources of risk on a project.

When the impact of an event is negative,it is considered a risk; when the impact is positive,the event is considered an opportunity.

Risk response strategies such as mitigation and exploitation apply to both threats and opportunities.

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

Which of the following accurately describes risk in project management?

Identify and describe three risk identification techniques.What are some of the benefits of each technique?

In agile projects,early risk planning is done at a detail level.

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:

On agile projects,detailed risk management activities may occur during all of the following times EXCEPT:

The primary output of risk identification is the Risk Identification Matrix (RIM).

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?

Introduction to Project Management

Project Selection and Prioritization

Organizational Capability: Structure,Culture and Roles

Chartering Projects

Stakeholder Analysis and Communication Planning

Defining Scope and Constructing Work Breakdown Structures WBS

Scheduling Activities

Resourcing Projects

Budgeting Projects

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Leading and Managing Project Teams

Determining Project Progress and Results

Finishing the Project

Filters

Exam 10: Project Risk Planning

All of the following are among the classic risk response strategies EXCEPT:

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

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

In some cases,project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable,rather than eliminate it completely.

Which of the following describes the appropriate use of a cause-and-effect diagram to support project risk analysis?

A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution.

Sometimes the risks posed by a project are so great that an appropriate risk response is to not perform the project at all.

Perform Quantitative Risk Analysis is the process of prioritizing risks for subsequent further analysis or action by assessing and combining their probability and impact.

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

It is impossible to remove all sources of risk on a project.

When the impact of an event is negative,it is considered a risk; when the impact is positive,the event is considered an opportunity.

Risk response strategies such as mitigation and exploitation apply to both threats and opportunities.

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

Which of the following accurately describes risk in project management?

Identify and describe three risk identification techniques.What are some of the benefits of each technique?

In agile projects,early risk planning is done at a detail level.

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:

On agile projects,detailed risk management activities may occur during all of the following times EXCEPT:

The primary output of risk identification is the Risk Identification Matrix (RIM).

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?

Introduction to Project Management

Project Selection and Prioritization

Organizational Capability: Structure,Culture and Roles

Chartering Projects

Stakeholder Analysis and Communication Planning

Defining Scope and Constructing Work Breakdown Structures WBS

Scheduling Activities

Resourcing Projects

Budgeting Projects

Project Quality Planning and Project Kick-Off

Project Supply Chain Management

Leading and Managing Project Teams

Determining Project Progress and Results

Finishing the Project

Filters