Question 1

The deployment of a specific risk management strategy is in part a function of risk tolerance levels of the stakeholders.

Accepted Answer

A) True 
 B)False

Question 2

The goal of a sound risk management is to completely avoid all risk.

Accepted Answer

A) True 
 B)False

Question 3

_____ prioritizes risks so that an effective risk strategy can be formulated.

Accepted Answer

A)  Risk mitigation 
B)  Risk assessment 
C)  Risk avoidance 
D)  Risk analysis 
E)  Risk monitoring and control 
A)  Risk mitigation 
B)  Risk assessment 
C)  Risk avoidance 
D)  Risk analysis 
E)  Risk monitoring and control

Question 4

_____ involves developing a probability distribution for understanding and responding to identified risks.

Accepted Answer

A)  Plan Risk Management 
B)  Identify Risks 
C)  Perform Quantitative Risk Analysis 
D)  Plan Risk Responses 
E)  Monitor and Control Risks 
A)  Plan Risk Management 
B)  Identify Risks 
C)  Perform Quantitative Risk Analysis 
D)  Plan Risk Responses 
E)  Monitor and Control Risks

Question 5

_____ is the core layer in the IT Project Risk Identification Framework.

Accepted Answer

A)  Measurable Organizational Value 
B)  Project objectives 
C)  Risk sources 
D)  Internality / Externality 
E)  Known / Unknown 
A)  Measurable Organizational Value 
B)  Project objectives 
C)  Risk sources 
D)  Internality / Externality 
E)  Known / Unknown

Question 6

Receiving a much larger than usual gas utility bill because of an early spring cold spell is an example of what type of risk?

Accepted Answer

A)  known risk 
B)  known-unknown risk 
C)  unknown-unknown risk 
D)  known-known 
E)  none of these 
A)  known risk 
B)  known-unknown risk 
C)  unknown-unknown risk 
D)  known-known 
E)  none of these

Question 7

What are the strengths and weaknesses of using the Delphi Technique for identifying threats and opportunities?

Accepted Answer

The Delphi Technique has several strengt

Question 8

Learning cycles can be used as a tool for identifying threats and opportunities.

Accepted Answer

A) True 
 B)False

Question 9

Nominal Group Technique is a free form, unstructured process similar to Brainstorming.

Accepted Answer

A) True 
 B)False

Question 10

_____ is an uncertain event that, if it occurs, has a positive or negative effect on project objectives.

Accepted Answer

A)  Risk management 
B)  Risk response 
C)  Project risk 
D)  Risk plan 
E)  Risk control 
A)  Risk management 
B)  Risk response 
C)  Project risk 
D)  Risk plan 
E)  Risk control

Question 11

What factors determine the appropriate risk strategy to deploy?

Accepted Answer

The appropriate risk strategy to deploy

Question 12

The text discusses three common mistakes found in managing project risk.Choose two of them and after stating them, discuss the implications of making that mistake.

Accepted Answer

Two common mistakes in managing project

Question 13

Briefly describe the six IT Project Risk Management processes.

Accepted Answer

The six IT Project Risk Management proce

Question 14

_____ focuses on root-cause analysis and determining the cause of risks, as well as the effects of risks on the project.

Accepted Answer

A)  Learning Cycles 
B)  Brainstorming 
C)  Nominal Group Technique 
D)  Delphi Technique 
E)  Cause-and-Effect Diagrams 
A)  Learning Cycles 
B)  Brainstorming 
C)  Nominal Group Technique 
D)  Delphi Technique 
E)  Cause-and-Effect Diagrams

Question 15

What is a risk response plan? What should be included?

Accepted Answer

Once the project risks and strategies ar

Question 16

The first step in managing IT project risk is _____.

Accepted Answer

A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk monitoring and control 
E)  risk evaluation 
A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk monitoring and control 
E)  risk evaluation

Question 17

What is project risk management?

Accepted Answer

PMBOK defines project risk management as

Question 18

It never pays to ignore an element of project risk.

Accepted Answer

A) True 
 B)False

Question 19

_____determines how to deal with the occurrence of a risk.

Accepted Answer

A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk monitoring and control 
E)  risk strategies 
A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk monitoring and control 
E)  risk strategies

Question 20

What is the Delphi Technique? How can this technique be used to identify IT project risks?

Accepted Answer

A group of experts are asked to identify

The deployment of a specific risk management strategy is in part a function of risk tolerance levels of the stakeholders.

The goal of a sound risk management is to completely avoid all risk.

_____ prioritizes risks so that an effective risk strategy can be formulated.

_____ involves developing a probability distribution for understanding and responding to identified risks.

_____ is the core layer in the IT Project Risk Identification Framework.

Receiving a much larger than usual gas utility bill because of an early spring cold spell is an example of what type of risk?

What are the strengths and weaknesses of using the Delphi Technique for identifying threats and opportunities?

Learning cycles can be used as a tool for identifying threats and opportunities.

Nominal Group Technique is a free form, unstructured process similar to Brainstorming.

_____ is an uncertain event that, if it occurs, has a positive or negative effect on project objectives.

What factors determine the appropriate risk strategy to deploy?

The text discusses three common mistakes found in managing project risk.Choose two of them and after stating them, discuss the implications of making that mistake.

Briefly describe the six IT Project Risk Management processes.

_____ focuses on root-cause analysis and determining the cause of risks, as well as the effects of risks on the project.

What is a risk response plan? What should be included?

The first step in managing IT project risk is _____.

What is project risk management?

It never pays to ignore an element of project risk.

_____determines how to deal with the occurrence of a risk.

What is the Delphi Technique? How can this technique be used to identify IT project risks?

The Nature of Information Technology Projects

Project Methodologies and Processes

Measurable Organizational Value and the Business Case

Project Planning: the Project Infrastructure

Project Planning: Scope and the Work Breakdown Structure

The Work Breakdown Structure and Project Estimation

Managing Project Stakeholders and Communication

Managing Project Quality

Leading the Project Team

Managing Organizational Change, Resistance, and Conflict

Project Completion

Filters

Exam 7: Managing Project Risk

The deployment of a specific risk management strategy is in part a function of risk tolerance levels of the stakeholders.

The goal of a sound risk management is to completely avoid all risk.

_____ prioritizes risks so that an effective risk strategy can be formulated.

_____ involves developing a probability distribution for understanding and responding to identified risks.

_____ is the core layer in the IT Project Risk Identification Framework.

Receiving a much larger than usual gas utility bill because of an early spring cold spell is an example of what type of risk?

What are the strengths and weaknesses of using the Delphi Technique for identifying threats and opportunities?

Learning cycles can be used as a tool for identifying threats and opportunities.

Nominal Group Technique is a free form, unstructured process similar to Brainstorming.

_____ is an uncertain event that, if it occurs, has a positive or negative effect on project objectives.

What factors determine the appropriate risk strategy to deploy?

The text discusses three common mistakes found in managing project risk.Choose two of them and after stating them, discuss the implications of making that mistake.

Briefly describe the six IT Project Risk Management processes.

_____ focuses on root-cause analysis and determining the cause of risks, as well as the effects of risks on the project.

What is a risk response plan? What should be included?

The first step in managing IT project risk is _____.

What is project risk management?

It never pays to ignore an element of project risk.

_____determines how to deal with the occurrence of a risk.

What is the Delphi Technique? How can this technique be used to identify IT project risks?

The Nature of Information Technology Projects

Project Methodologies and Processes

Measurable Organizational Value and the Business Case

Project Planning: the Project Infrastructure

Project Planning: Scope and the Work Breakdown Structure

The Work Breakdown Structure and Project Estimation

Managing Project Stakeholders and Communication

Managing Project Quality

Leading the Project Team

Managing Organizational Change, Resistance, and Conflict

Project Completion

Filters