Exam 10: Project Risk Planning

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

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.

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.

The risk management plan is a component of the project management plan that describes how risk management activities will be structured and performed on a project.

Identify five common project risk strategies employed to address threats that your project may face.Give an example of each.

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

The primary questions project teams use in qualitative risk analysis are "how likely is this risk to happen?",and "if it does happen,how big will the impact be?"

Plan Risk Responses is the process of developing options to enhance opportunities and reduce threats for every risk that has been identified.

The process of deciding how to approach,plan and execute risk management activities for a project is known as Project Risk Absorption Methodology (PRAM).

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

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

The risk register is a living document and new risks can be added as they are discovered.

Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events.All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:

A risk is anything that may impact the project team's ability to achieve the general project success measures and the specific project stakeholder priorities.

Risk is often considered in terms of impact to project success.Which of the following is NOT a valid measure of project success?

All of the following criteria can be used to categorize project risks EXCEPT:

Risk response strategies such as acceptance and conducting further research apply to both threats and opportunities.

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 quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project,with results displayed in the form of a tornado diagram?