Question 1

Once a risk is made known, _____ will execute the planned risk strategy.

Accepted Answer

A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk response 
E)  risk strategies 
A)  risk identification 
B)  risk assessment 
C)  risk planning 
D)  risk response 
E)  risk strategies

Question 2

A _____ is a structured tool that identifies risks that have occurred in the past.

Accepted Answer

A)  learning cycle 
B)  brainstorming session 
C)  Nominal Group Technique 
D)  Delphi Technique 
E)  checklist 
A)  learning cycle 
B)  brainstorming session 
C)  Nominal Group Technique 
D)  Delphi Technique 
E)  checklist

Question 3

Compare the three types of project risk: known, known-unknown, and unknown-unknown.Give an example of each.

Accepted Answer

Known project risks are those that are i

Question 4

A structured technique for identifying risks which requires participants to rank and prioritize ideas in round-robin fashion is most closely associated with:

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 5

What is a contingency plan?

Accepted Answer

Contingency plans-Sometimes called an al

Question 6

In a normal distribution we would expect to find _______ of all values with in + or - 1 standard deviation.

Accepted Answer

A)  13% 
B)  34% 
C)  68% 
D)  95% 
E)  99% 
A)  13% 
B)  34% 
C)  68% 
D)  95% 
E)  99%

Question 7

What should be required of project stakeholders with regard to managing project risk successfully?

Accepted Answer

To manage project risk successfully, pro

Question 8

The text discusses seven main risk response strategies.Briefly describe them and the implications of choosing one over another.

Accepted Answer

The seven main risk response strategies

Question 9

Effective project risk management requires that each risk have an owner.

Accepted Answer

A) True 
 B)False

Question 10

_____ use only integer or whole numbers, where fractional values are not allowed or would not make sense.

Accepted Answer

A)  Discrete Distribution 
B)  Normal Distribution 
C)  Pert Distribution 
D)  Triangular Distribution 
E)  Binomial Distribution 
A)  Discrete Distribution 
B)  Normal Distribution 
C)  Pert Distribution 
D)  Triangular Distribution 
E)  Binomial Distribution

Question 11

What is the purpose of a risk impact table?

Accepted Answer

The purpose of a risk impact table is to

Question 12

What is project risk?

Accepted Answer

PMBOK defines project risk as:

Question 13

Why can identifying IT project risks be difficult?

Accepted Answer

Risk identification can be difficult bec

Question 14

Describe how learning cycles can be used to identify IT project risks.

Accepted Answer

The project team and stakeholders can us

Question 15

What is SWOT analysis? How can this technique be used to identify IT project risks?

Accepted Answer

SWOT stands for Strengths, Weaknesses, O

Question 16

Since IT projects are developed in an environment that changes so rapidly and so extensively, there is little value in using past projects to guide our risk assessment of new ones.

Accepted Answer

A) True 
 B)False

Question 17

The concept of expected value rests on the notion of a probability-weighted summation of component parts.

Accepted Answer

A) True 
 B)False

Once a risk is made known, _____ will execute the planned risk strategy.

A _____ is a structured tool that identifies risks that have occurred in the past.

Compare the three types of project risk: known, known-unknown, and unknown-unknown.Give an example of each.

A structured technique for identifying risks which requires participants to rank and prioritize ideas in round-robin fashion is most closely associated with:

What is a contingency plan?

In a normal distribution we would expect to find _______ of all values with in + or - 1 standard deviation.

What should be required of project stakeholders with regard to managing project risk successfully?

The text discusses seven main risk response strategies.Briefly describe them and the implications of choosing one over another.

Effective project risk management requires that each risk have an owner.

_____ use only integer or whole numbers, where fractional values are not allowed or would not make sense.

What is the purpose of a risk impact table?

What is project risk?

Why can identifying IT project risks be difficult?

Describe how learning cycles can be used to identify IT project risks.

What is SWOT analysis? How can this technique be used to identify IT project risks?

Since IT projects are developed in an environment that changes so rapidly and so extensively, there is little value in using past projects to guide our risk assessment of new ones.

The concept of expected value rests on the notion of a probability-weighted summation of component parts.

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

Once a risk is made known, _____ will execute the planned risk strategy.

A _____ is a structured tool that identifies risks that have occurred in the past.

Compare the three types of project risk: known, known-unknown, and unknown-unknown.Give an example of each.

A structured technique for identifying risks which requires participants to rank and prioritize ideas in round-robin fashion is most closely associated with:

What is a contingency plan?

In a normal distribution we would expect to find _______ of all values with in + or - 1 standard deviation.

What should be required of project stakeholders with regard to managing project risk successfully?

The text discusses seven main risk response strategies.Briefly describe them and the implications of choosing one over another.

Effective project risk management requires that each risk have an owner.

_____ use only integer or whole numbers, where fractional values are not allowed or would not make sense.

What is the purpose of a risk impact table?

What is project risk?

Why can identifying IT project risks be difficult?

Describe how learning cycles can be used to identify IT project risks.

What is SWOT analysis? How can this technique be used to identify IT project risks?

Since IT projects are developed in an environment that changes so rapidly and so extensively, there is little value in using past projects to guide our risk assessment of new ones.

The concept of expected value rests on the notion of a probability-weighted summation of component parts.

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