Chapter 7.3

Change management systems are designed to accomplish all of the following EXCEPT

All of these are examples of what change management systems are designed to accomplish.

Which of the following is NOT included in a Failure Mode and Effects Analysis?

All of these are included

Adopting proven technology instead of experimental technology in order to eliminate technical failure would be an example of which risk response?

Avoiding

One of the following five choices is NOT involved in risk control. Which choice is it?

Establishing contingency funds

This response is used to remove any uncertainty associated with an identified opportunity.

Exploit

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

Ignoring

One of the choices below refers to major unforeseen risks and endeavors to supply funds for the same. Which choice is it?

Management reserves

An unanticipated event that occurs which is beneficial to a project is known as a(n)

Opportunity

The risk associated with the unlikelihood that one of the key members will be struck by lightning would most likely be handled by which of the following?

Retaining

A key distinction between a risk response and a contingency plan is

a risk response is part of the actual implementation plan and action is taken before the risk can materialize, while a contingency plan goes into effect only after the risk has transpired.

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

contingency

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

technical risks.

A fixed price contract is an example of

transferring risk.

A Risk Response Matrix contains all of the following EXCEPT

when the risk will occur.

Which of the following activities might you consider adding a time buffer to?

You might consider adding a time buffer to any of these activities.