Chapter 11 Project Risk Management

_____ is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.

brainstorming

The last step in project risk management is deciding how to address the knowledge area for a particular project by performing risk management planning.

false

The term _____ is used to describe risks that the project team has identified and analyzed.

known risks

Which process involves prioritizing risks based on their probability of occurrence and impact?

performing qualitative risk analysis

Which action applies to positive risks when the project team cannot or chooses not to take any actions toward a risk?

risk acceptance

Which action involves allocating ownership of the risk to another party?

risk sharing

_____ are indicators or symptoms of actual risk events.

triggers

Contingency plans are predefined actions that the project team will take if an identified risk event occurs.

true

The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

true

The Monte Carlo analysis can predict the probability of finishing by a certain date or the probability that the cost will be equal to or less than a certain value.

true