Section 11 - Project Risk Management
a
A person who is risk-______ receives greater satisfaction when more payoff is at stake and is willing to pay a penalty to take risks. a. Seeking b. Averse c. Neutral d. Aware
d
A risk ____ is a document that contains results of various risk management processes and is often displayed in a table or spreadsheet format. a. management plan b. breakdown structure c. probability impact matrix d. register
c
Suppose there is a 30% chance that you will lost $10,000 and a 70% chance that you will earn $100,000 on a particular project. What is the project's estimated monetary value? a. -$30000 b. $70000 c. $67,000 d. -$67000
b
Which risk identification tool involves driving a consensus among a panel of experts by using anonymous input regarding future events? a. Brainstorming b. Delphi technique c. Risk breakdown structure d. Interviewing
c
Which risk management process involved prioritizing risks based on their probability and impact of occurrence? a. Identify risks b. Planning risk management c. Performing qualitative risk analysis d. Performing Quantitative risk analysis
b
Your project has decided not to use an upcoming release of software because it might cause your schedule to slip. Which negative risk response strategy are you using? a. Acceptance b. Avoidance c. Transference d. Mitigation
c
Your project involves using a new release of a common software application, but if that release is not available, your team has ______ plans to use a current release. a. Fallback b. Reserve c. Contingency d. Mitigation
a
____ are indicators or symptoms of actual risk events, such as cost overrun on early activities being a symptom of poor cost estimates. a. Triggers b. Probabilities c. Impacts d. Watch list items
a
_____ is a quantitative risk analysis tool that uses a model of a system to analyze its expected behavior or performance. a. Simulation b. Sensitivity analysis c. Monte Carlo analysis d. EVM
c
_____ is the uncertainty that can have a negative or positive effect on meeting project objectives. a. Risk Tolerance b. Risk Management c. Risk d. Risk Utility