Question 1

Reactive project managers:

Accepted Answer

A)  do not consider risks. 
B)  prefer to be optimistic. 
C)  will develop elaborate risk management programs for their projects. 
D)  are more confident in their ability to handle unexpected events without prior planning. 
E)  avoid taking risks whenever possible. 
A)  do not consider risks. 
B)  prefer to be optimistic. 
C)  will develop elaborate risk management programs for their projects. 
D)  are more confident in their ability to handle unexpected events without prior planning. 
E)  avoid taking risks whenever possible. D

Question 2

Which of the following is true about risk avoidance?

Accepted Answer

A)  It usually involves developing an alternative strategy that has a higher probability of success. 
B)  It typically involves lower costs associated with accomplishing a project task. 
C)  A common risk avoidance technique is to adopt new techniques rather than use existing technologies. 
D)  A project team chooses a new vendor over an existing one with a proven track record. 
E)  It involves maintaining the project plan to eliminate a risk. 
A)  It usually involves developing an alternative strategy that has a higher probability of success. 
B)  It typically involves lower costs associated with accomplishing a project task. 
C)  A common risk avoidance technique is to adopt new techniques rather than use existing technologies. 
D)  A project team chooses a new vendor over an existing one with a proven track record. 
E)  It involves maintaining the project plan to eliminate a risk. A

Question 3

External complexity includes legal, cultural, political, and ecological factors.

Accepted Answer

A) True 
 B)False  False

Question 4

_____ risks are events that have been identified and analyzed for which advanced planning is possible.

Accepted Answer

The answer of _____ risks are events that have been...

Question 5

On projects with a low complexity profile, the project management team typically develops a list of items perceived to be slightly higher risk and track them during project reviews.

Accepted Answer

A) True 
 B)False

Question 6

_____ simulation is a statistical model used on projects, which simulates a possible range of outcomes by trying many different combinations of risks based on their likelihood.

Accepted Answer

A)  Discrete-event 
B)  Monte Carlo 
C)  Deterministic modeling 
D)  Mixed-mode 
E)  Parallel 
A)  Discrete-event 
B)  Monte Carlo 
C)  Deterministic modeling 
D)  Mixed-mode 
E)  Parallel

Question 7

According to David Parker and Alison Mobey's study of project managers, there was a high understanding of the tools and benefits of a structured analysis of project risks.

Accepted Answer

A) True 
 B)False

Question 8

According to Tzvi Raz, Aaron Shenhar, and Dov Dvir's risk management studies, risk management is widely used.

Accepted Answer

A) True 
 B)False

Question 9

Proactive project managers usually rely on their ability to handle unexpected events without prior planning.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is part of the closeout phase?

Accepted Answer

A)  Conceptual estimate of risk 
B)  Monte Carlo simulation 
C)  Conclusion of risk sharing and risk transfer agreements 
D)  Creating a RBS 
E)  Resource leveling 
A)  Conceptual estimate of risk 
B)  Monte Carlo simulation 
C)  Conclusion of risk sharing and risk transfer agreements 
D)  Creating a RBS 
E)  Resource leveling

Question 11

Risk must be considered in the _____ phase and weighed against the potential benefit of the project's success in order to decide if the project should be chosen.

Accepted Answer

A)  completion 
B)  closeout 
C)  execution 
D)  planning 
E)  initiation 
A)  completion 
B)  closeout 
C)  execution 
D)  planning 
E)  initiation

Question 12

There is _____ correlation between project risk and project complexity.

Accepted Answer

A)  an unknown 
B)  a positive 
C)  no 
D)  a negative 
E)  a general 
A)  an unknown 
B)  a positive 
C)  no 
D)  a negative 
E)  a general

Question 13

During the closeout phase, agreements for risk _____ and risk _____ need to be concluded and the risk breakdown structure examined to be sure all the risk events have been avoided or mitigated.

Accepted Answer

The answer of During the closeout phase, agreements for risk...

Question 14

The risk of not finding the skills needed to execute the project is an example of an environmental risk.

Accepted Answer

A) True 
 B)False

Question 15

A risk response plan can be used to identify increasing levels of detailed risk analysis.

Accepted Answer

A) True 
 B)False

Question 16

An) _____ organizes the risks that have been identified into categories using a table with increasing levels of detail to the right.

Accepted Answer

A)  master schedule 
B)  risk breakdown structure 
C)  control chart 
D)  risk management plan 
E)  risk response plan 
A)  master schedule 
B)  risk breakdown structure 
C)  control chart 
D)  risk management plan 
E)  risk response plan

Question 17

Inadequacy of resources is an example of environmental complexity.

Accepted Answer

A) True 
 B)False

Question 18

Describe the impact of high scores in technology complexity. What are the risks of technology complexity?

Accepted Answer

High scores in technology complexity are

Question 19

Two variables that respond in the same way to changes in their environment are said to have an) _____.

Accepted Answer

positive c

Question 20

Which of the following is true about David Hillson’s risk management approach?

Accepted Answer

A)  David Hillson uses the same framework as the resource breakdown structure for developing a risk breakdown structure. 
B)  A risk breakdown structure organizes risks associated with each activity in the work breakdown structure using a table with increasing levels of detail to the right. 
C)  Hillson's approach helps the project team identify unknown risks. 
D)  Hillson's approach can be restrictive and less creative in identifying known risks. 
E)  Hillson's approach can be restrictive in identifying risks not easily found inside the work breakdown structure. 
A)  David Hillson uses the same framework as the resource breakdown structure for developing a risk breakdown structure. 
B)  A risk breakdown structure organizes risks associated with each activity in the work breakdown structure using a table with increasing levels of detail to the right. 
C)  Hillson's approach helps the project team identify unknown risks. 
D)  Hillson's approach can be restrictive and less creative in identifying known risks. 
E)  Hillson's approach can be restrictive in identifying risks not easily found inside the work breakdown structure.

Reactive project managers:

Which of the following is true about risk avoidance?

External complexity includes legal, cultural, political, and ecological factors.

_____ risks are events that have been identified and analyzed for which advanced planning is possible.

On projects with a low complexity profile, the project management team typically develops a list of items perceived to be slightly higher risk and track them during project reviews.

_____ simulation is a statistical model used on projects, which simulates a possible range of outcomes by trying many different combinations of risks based on their likelihood.

According to David Parker and Alison Mobey's study of project managers, there was a high understanding of the tools and benefits of a structured analysis of project risks.

According to Tzvi Raz, Aaron Shenhar, and Dov Dvir's risk management studies, risk management is widely used.

Proactive project managers usually rely on their ability to handle unexpected events without prior planning.

Which of the following is part of the closeout phase?

Risk must be considered in the _____ phase and weighed against the potential benefit of the project's success in order to decide if the project should be chosen.

There is _____ correlation between project risk and project complexity.

During the closeout phase, agreements for risk _ and risk _ need to be concluded and the risk breakdown structure examined to be sure all the risk events have been avoided or mitigated.

The risk of not finding the skills needed to execute the project is an example of an environmental risk.

A risk response plan can be used to identify increasing levels of detailed risk analysis.

An) _____ organizes the risks that have been identified into categories using a table with increasing levels of detail to the right.

Inadequacy of resources is an example of environmental complexity.

Describe the impact of high scores in technology complexity. What are the risks of technology complexity?

Two variables that respond in the same way to changes in their environment are said to have an) _____.

Which of the following is true about David Hillson’s risk management approach?

Introduction to Project Management

Project Profiling

Project Phases and Organization

Understanding and Meeting Client Expectations

Working With People on Projects

Communication Technologies

Starting a Project

Project Time Management

Estimating and Managing Costs

Managing Project Quality

Project Procurement and Closure

Filters

Exam 11: Managing Project Risk

Reactive project managers:

Which of the following is true about risk avoidance?

External complexity includes legal, cultural, political, and ecological factors.

_____ risks are events that have been identified and analyzed for which advanced planning is possible.

On projects with a low complexity profile, the project management team typically develops a list of items perceived to be slightly higher risk and track them during project reviews.

_____ simulation is a statistical model used on projects, which simulates a possible range of outcomes by trying many different combinations of risks based on their likelihood.

According to David Parker and Alison Mobey's study of project managers, there was a high understanding of the tools and benefits of a structured analysis of project risks.

According to Tzvi Raz, Aaron Shenhar, and Dov Dvir's risk management studies, risk management is widely used.

Proactive project managers usually rely on their ability to handle unexpected events without prior planning.

Which of the following is part of the closeout phase?

Risk must be considered in the _____ phase and weighed against the potential benefit of the project's success in order to decide if the project should be chosen.

There is _____ correlation between project risk and project complexity.

During the closeout phase, agreements for risk _____ and risk _____ need to be concluded and the risk breakdown structure examined to be sure all the risk events have been avoided or mitigated.

The risk of not finding the skills needed to execute the project is an example of an environmental risk.

A risk response plan can be used to identify increasing levels of detailed risk analysis.

An) _____ organizes the risks that have been identified into categories using a table with increasing levels of detail to the right.

Inadequacy of resources is an example of environmental complexity.

Describe the impact of high scores in technology complexity. What are the risks of technology complexity?

Two variables that respond in the same way to changes in their environment are said to have an) _____.

Which of the following is true about David Hillson’s risk management approach?

Introduction to Project Management

Project Profiling

Project Phases and Organization

Understanding and Meeting Client Expectations

Working With People on Projects

Communication Technologies

Starting a Project

Project Time Management

Estimating and Managing Costs

Managing Project Quality

Project Procurement and Closure

Filters

During the closeout phase, agreements for risk _ and risk _ need to be concluded and the risk breakdown structure examined to be sure all the risk events have been avoided or mitigated.