SPM Chap 11
13.____ involves prioritizing risks based on their probability and impact of occurrence. a.Performing qualitative risk analysis c.Planning risk responses b.Planning risk management d.Performing quantitative risk analysis
a
18.____ are developed for risks that have a high impact on meeting project objectives, and are put into effect if attempts to reduce the risk are not effective. a.Fallback plans c.Contingency plans b.Contingency reserves d.Contingency allowances
a
11.____ involves deciding how to approach and plan the risk management activities for the project. a.Identifying risks c.Performing qualitative risk analysis b.Planning risk management d.Performing quantitative risk analysis
b
15.____ involves taking steps to enhance opportunities and reduce threats to meeting project objectives. a.Performing quantitative risk analysis c.Monitoring and controlling risk b.Planning risk responses d.Performing qualitative risk analysis
b
27.A(n) ____ represents decision problems by displaying essential elements, including decisions, uncertainties, causality, and objectives, and how they influence each other. a.risk breakdown structure c.process flow chart b.influence diagram d.system flow chart
b
34.____ involves shifting the consequence of a risk and responsibility for its management to a third party. a.Risk avoidance c.Risk transference b.Risk acceptance d.Risk mitigation
b
4.KLCI Research Group's 2001 survey revealed that ____ percent identified anticipating and avoiding problems as the primary benefit of risk management. a.60 c.89 b.80 d.99
b
7.Utility rises at a decreasing rate for a ____ person. a.risk-seeking c.risk-neutral b.risk-averse d.risk-indifferent
b
1.William Ibbs and Young H. Kwak's study revealed that the ____ industry had the lowest level of project management maturity in the area of risk management. a.engineering/construction c.information systems b.telecommunications d.high-tech manufacturing
c
16.____ involves monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project. a.Performing quantitative risk analysis c.Monitoring and controlling risk b.Planning risk responses d.Performing qualitative risk analysis
c
17.____ are predefined actions that the project team will take if an identified risk event occurs. a.Fallback plans c.Contingency plans b.Contingency reserves d.Contingency allowances
c
2.William Ibbs and Young H. Kwak's study revealed that the ____ industry had the lowest level of project management maturity in the area of quality management. a.engineering/construction c.information systems b.telecommunications d.high-tech manufacturing
c
25.Unenforceable conditions or contract clauses, and adversarial relations are risk conditions associated with the ____ project management knowledge area. a.Integration c.Procurement b.Quality d.Human Resources
c
28.A project manager can chart the probability and impact of risks on a ____. a.risk ranking chart c.probability/impact matrix b.risk probability table d.risk assessment matrix
c
3.KLCI Research Group's 2001 survey revealed that ____ percent of the participants said they had procedures in place to identify and assess risk. a.75 c.97 b.87 d.99
c
31.____ analysis simulates a model's outcome many times to provide a statistical distribution of the calculated results. a.Decision tree c.Monte Carlo b.EMV d.Watch list
c
32.What is the first step in a Monte Carlo analysis? a.Determine the probability distribution of each variable. b.For each variable, such as the time estimate for a task, select a random value based on the probability distribution for the occurrence of the variable. c.Assess the range for the variables being considered. d.Run a deterministic analysis or one pass through the model using the combination of values selected for each one of the variables.
c
10.There are ____ major processes involved in risk management. a.three c.five b.four d.six
d
14.____ involves numerically estimating the effects of risks on project objectives. a.Performing qualitative risk analysis c.Planning risk management b.Planning risk responses d.Performing quantitative risk analysis
d
19.According to the Standish Group's success potential scoring sheet, ____ has the highest relative importance. a.executive management support c.proper planning b.clear statement of requirements d.user involvement
d
20."If the information technology project is to produce a new product or service, will it be useful to the organization or marketable to others?" applies to which risk category? a.Financial risk c.Structure/process risk b.Technology risk d.Market risk
d
22."Is there a project champion?" applies to which risk category? a.Financial risk c.Structure/process risk b.Technology risk d.People risk
d
35.____ involves reducing the impact of a risk event by reducing the probability of its occurrence. a.Risk avoidance c.Risk transference b.Risk acceptance d.Risk mitigation
d
12.____ involves determining which risks are likely to affect a project and documenting the characteristics of each. a.Identifying risks c.Performing qualitative risk analysis b.Planning risk management d.Performing quantitative risk analysis
a
21."Will the project meet NPV, ROI, and payback estimates?" applies to which risk category? a.Financial risk c.Structure/process risk b.Technology risk d.Market risk
a
23.In a risk breakdown structure, competitors, suppliers, and cash flow are categories that fall under ____ risk. a.business c.organizational b.technical d.project management
a
30.A(n) ____ is a diagramming analysis technique used to help select the best course of action in situations in which future outcomes are uncertain. a.decision tree c.Monte Carlo analysis b.EMV d.watch list
a
33.____ involves eliminating a specific threat, usually by eliminating its causes. a.Risk avoidance c.Risk transference b.Risk acceptance d.Risk mitigation
a
36.____ involves doing whatever you can to make sure the positive risk happens. a.Risk exploitation c.Risk enhancement b.Risk sharing d.Risk acceptance
a
5.KLCI Research Group's 2001 survey revealed that ____ percent of the organizations surveyed had a Project Management Office. a.64 c.85 b.75 d.94
a
8.Those who are ____ have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake. a.risk-seeking c.risk-neutral b.risk-averse d.risk-indifferent
a
24.Poor conflict management, poor project organization and definition of responsibilities, and absence of leadership are risk conditions associated with the ____ project management knowledge area. a.Integration c.Time b.Quality d.Human Resources
d
26.____ is a fact-finding technique for collecting information in face-to-face, phone, e-mail, or instant-messaging discussions. a.Brainstorming c.The Delphi technique b.SWOT analysis d.Interviewing
d
29.____ are/is a qualitative risk analysis tool, and in addition to identifying risks, it maintains an awareness of risks throughout the life of a project. a.Risk factor analysis c.Risk registering b.Probability/impact matrices or charts d.Top Ten Risk Item Tracking
d
6.KLCI Research Group's 2001 survey revealed that the most frequently cited benefit from software risk management practices is to ____. a.prevent surprises c.meet customer commitments b.improve ability to negotiate d.anticipate/avoid problems
d
9.A ____ person achieves a balance between risk and payoff. a.risk-seeking c.risk-fearing b.risk-averse d.risk-neutral
d
