MIS 573 Lesson 11
Which process involves determining what risks are likely to affect a project and documenting the characteristics of each? identifying risks planning risk management performing qualitative risk analysis performing quantitative risk analysis
a
Which process 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? monitoring risk performing quantitative risk analysis planning risk responses performing qualitative risk analysis
a
Which risks are direct results of implementing risk responses? secondary primary architectural residual
a
The main outputs of which process include a risk register, risk report, and project documents updates? monitoring risk identifying risks planning risk management planning risk response
b
Which action involves changing the size of the opportunity by identifying and maximizing key drivers of the positive risk? risk sharing risk enhancement risk acceptance risk exploitation
b
Which action involves reducing the impact of a risk event by reducing the probability of its occurrence? risk acceptance risk mitigation risk transference risk avoidance
b
Which process involves prioritizing risks based on their probability of occurrence and impact? planning risk management performing qualitative risk analysis monitoring and controlling risks project closing
b
Which process involves prioritizing risks based on their probability of occurrence and impact? monitoring and controlling risks planning risk management performing qualitative risk analysis project closing
c
Which process involves taking steps to enhance opportunities and reduce threats to meeting project objectives? controlling risk performing quantitative risk analysis planning risk responses performing qualitative risk analysis
c
_____ is a qualitative risk analysis tool that maintains an awareness of risks throughout the life of a project in addition to identifying risks. An expectations management matrix A probability/impact matrix or chart Top Ten Risk Item Tracking A SharePoint portal
c
Identifying risks is a subprocess of the _____ process of project risk management. closing monitoring and controlling executing planning
d
Unenforceable conditions or contract clauses and adversarial relations are risk conditions associated with the project _____ management knowledge area. human resources integration quality procurement
d
Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.
f
The last step in project risk management is deciding how to address the knowledge area for a particular project by performing risk management planning.
f
The lower the earned monetary value calculation for a project, the chances of project success is higher.
f
The psychology literature shows that individuals, working alone, produce fewer ideas than the same individuals produce through brainstorming in small, face-to-face groups.
f
A probability/impact matrix or chart lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other.
t
Identified risks may not materialize, or their probabilities of occurrence or loss may diminish.
t
Large, complex projects involving leading-edge technologies often require extensive quantitative risk analysis.
t
The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
t
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.
t
The main output of qualitative risk analysis is updating the risk register.
t
