Question 1

According to David Parker and Alison Mobey's study of project managers:

Accepted Answer

A)  there was a low understanding of the tools and benefits of a structured analysis of project risks. 
B)  work is oriented toward continuous improvement of existing processes over longer periods of time. 
C)  most managers focused on the work processes of the operation in order to manage risk. 
D)  most managers are risk averse and prefer to be optimistic and not consider risks or to avoid taking risks whenever possible. 
E)  managers are long-term focused and process oriented. 
A)  there was a low understanding of the tools and benefits of a structured analysis of project risks. 
B)  work is oriented toward continuous improvement of existing processes over longer periods of time. 
C)  most managers focused on the work processes of the operation in order to manage risk. 
D)  most managers are risk averse and prefer to be optimistic and not consider risks or to avoid taking risks whenever possible. 
E)  managers are long-term focused and process oriented.

Question 2

During the closeout phase, _____.

Accepted Answer

A)  risks must be weighed against the potential benefit of the project's success 
B)  agreements for risk sharing and risk transfer need to be concluded 
C)  risks are identified with each major group of activities 
D)  a risk breakdown structure can be used to identify increasing levels of detailed risk analysis 
E)  the risk plan needs to be updated with new information 
A)  risks must be weighed against the potential benefit of the project's success 
B)  agreements for risk sharing and risk transfer need to be concluded 
C)  risks are identified with each major group of activities 
D)  a risk breakdown structure can be used to identify increasing levels of detailed risk analysis 
E)  the risk plan needs to be updated with new information

Question 3

The sudden unavailability of key individuals on the project is an example of _____ risks.

Accepted Answer

A)  people 
B)  cost 
C)  schedule 
D)  client 
E)  contractual 
A)  people 
B)  cost 
C)  schedule 
D)  client 
E)  contractual

Question 4

What is the advantage of risk sharing a project with another company?

Accepted Answer

Partnering with another company to share

Question 5

What is the difference between project risk and organizational risk?

Accepted Answer

Project risk is an uncertain event or co

Question 6

Project risk is an uncertain event that has an effect on at least one project objective.

Accepted Answer

A) True 
 B)False

Question 7

Risk management is all about eliminating risk.

Accepted Answer

A) True 
 B)False

Question 8

The project team often develops an alternative method for accomplishing a project goal when a risk event has been identified that may frustrate the accomplishment of that goal.

Accepted Answer

A) True 
 B)False

Question 9

High scores for internal complexity imply high risks to the budget, schedule, and quality due to _____.

Accepted Answer

A)  expensive resolution to public opposition 
B)  organizational complexity and changes of scope 
C)  unknown factors and limited resources 
D)  unknown flaws in the technology and lack of familiarity with it 
E)  expensive resolution to lawsuits 
A)  expensive resolution to public opposition 
B)  organizational complexity and changes of scope 
C)  unknown factors and limited resources 
D)  unknown flaws in the technology and lack of familiarity with it 
E)  expensive resolution to lawsuits

Question 10

_____ is about developing an understanding of which potential risks have the greatest possibility of occurring and can have the greatest negative impact on the project.

Accepted Answer

A)  Risk mitigation 
B)  Risk sharing 
C)  Risk generalization 
D)  Risk evaluation 
E)  Risk management 
A)  Risk mitigation 
B)  Risk sharing 
C)  Risk generalization 
D)  Risk evaluation 
E)  Risk management

Question 11

Projects with high scores for internal complexity have low risks because of the detailed planning needed to deal with changes of scope or project statements.

Accepted Answer

A) True 
 B)False

Question 12

Contingency is typically managed as multiple line items in the project budget.

Accepted Answer

A) True 
 B)False

Question 13

On projects with a large equipment budget, the highest portion of risk may be toward the end of the project.

Accepted Answer

A) True 
 B)False

Question 14

Identifying risk is a purely routine, disciplined process.

Accepted Answer

A) True 
 B)False

Question 15

Projects that have a high score in the external complexity category in the _____ Index are larger and longer than usual for the project management group and the project manager and the available resources are lacking.

Accepted Answer

Darnall-Pr

Question 16

_____ is a risk reduction method that shifts the risk from the project to another party.

Accepted Answer

A)  Risk mitigation 
B)  Risk sharing 
C)  Risk breakdown structure 
D)  Risk avoidance 
E)  Risk transfer 
A)  Risk mitigation 
B)  Risk sharing 
C)  Risk breakdown structure 
D)  Risk avoidance 
E)  Risk transfer

Question 17

High scores for external complexity imply high risks to the schedule, budget, and quality due to _____.

Accepted Answer

A)  organizational complexity and changes of scope 
B)  unknown flaws in the technology and lack of familiarity with it 
C)  expensive resolution to lawsuits 
D)  unknown factors and limited resources 
E)  lack of clarity in project and scope statements 
A)  organizational complexity and changes of scope 
B)  unknown flaws in the technology and lack of familiarity with it 
C)  expensive resolution to lawsuits 
D)  unknown factors and limited resources 
E)  lack of clarity in project and scope statements

Question 18

During the closeout phase, agreements for risk transfer should be concluded.

Accepted Answer

A) True 
 B)False

Question 19

Once the project is approved and moves into the planning stage, _____.

Accepted Answer

A)  agreements for risk sharing need to be concluded 
B)  the total risk on the project typically reduces as activities are performed without loss 
C)  risks must be weighed against the potential benefit of the project's success in order to decide if the project should be chosen 
D)  risks are identified with each major group of activities 
E)  a risk response plan can be used to identify increasing levels of detailed risk analysis 
A)  agreements for risk sharing need to be concluded 
B)  the total risk on the project typically reduces as activities are performed without loss 
C)  risks must be weighed against the potential benefit of the project's success in order to decide if the project should be chosen 
D)  risks are identified with each major group of activities 
E)  a risk response plan can be used to identify increasing levels of detailed risk analysis

Question 20

What are the elements of risk management in the planning phase of the project?

Accepted Answer

Once the project is approved and it move

According to David Parker and Alison Mobey's study of project managers:

During the closeout phase, _____.

The sudden unavailability of key individuals on the project is an example of _____ risks.

What is the advantage of risk sharing a project with another company?

What is the difference between project risk and organizational risk?

Project risk is an uncertain event that has an effect on at least one project objective.

Risk management is all about eliminating risk.

The project team often develops an alternative method for accomplishing a project goal when a risk event has been identified that may frustrate the accomplishment of that goal.

High scores for internal complexity imply high risks to the budget, schedule, and quality due to _____.

_____ is about developing an understanding of which potential risks have the greatest possibility of occurring and can have the greatest negative impact on the project.

Projects with high scores for internal complexity have low risks because of the detailed planning needed to deal with changes of scope or project statements.

Contingency is typically managed as multiple line items in the project budget.

On projects with a large equipment budget, the highest portion of risk may be toward the end of the project.

Identifying risk is a purely routine, disciplined process.

Projects that have a high score in the external complexity category in the _____ Index are larger and longer than usual for the project management group and the project manager and the available resources are lacking.

_____ is a risk reduction method that shifts the risk from the project to another party.

High scores for external complexity imply high risks to the schedule, budget, and quality due to _____.

During the closeout phase, agreements for risk transfer should be concluded.

Once the project is approved and moves into the planning stage, _____.

What are the elements of risk management in the planning phase of the project?

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

According to David Parker and Alison Mobey's study of project managers:

During the closeout phase, _____.

The sudden unavailability of key individuals on the project is an example of _____ risks.

What is the advantage of risk sharing a project with another company?

What is the difference between project risk and organizational risk?

Project risk is an uncertain event that has an effect on at least one project objective.

Risk management is all about eliminating risk.

The project team often develops an alternative method for accomplishing a project goal when a risk event has been identified that may frustrate the accomplishment of that goal.

High scores for internal complexity imply high risks to the budget, schedule, and quality due to _____.

_____ is about developing an understanding of which potential risks have the greatest possibility of occurring and can have the greatest negative impact on the project.

Projects with high scores for internal complexity have low risks because of the detailed planning needed to deal with changes of scope or project statements.

Contingency is typically managed as multiple line items in the project budget.

On projects with a large equipment budget, the highest portion of risk may be toward the end of the project.

Identifying risk is a purely routine, disciplined process.

Projects that have a high score in the external complexity category in the _____ Index are larger and longer than usual for the project management group and the project manager and the available resources are lacking.

_____ is a risk reduction method that shifts the risk from the project to another party.

High scores for external complexity imply high risks to the schedule, budget, and quality due to _____.

During the closeout phase, agreements for risk transfer should be concluded.

Once the project is approved and moves into the planning stage, _____.

What are the elements of risk management in the planning phase of the project?

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