Question 1

The IT Project Risk Management Processes include all of the following except:

Accepted Answer

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

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

The best time to plan for risk is during the project execution phase when risk can be assessed most accurately.

Accepted Answer

A) True 
 B)False

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

Triggers or flags in the form of metrics should be identified to draw attention to a particular risk when it occurs.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

What is meant by crisis management? And why do many organizations find themselves in this mode?

Accepted Answer

Because of their failure to plan for the

Question 8

_____ 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 9

_____ 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 10

Unknown-unknown risks are residual risks that we cannot even imagine happening.

Accepted Answer

A) True 
 B)False

Question 11

Risks may be positive or negative.For a positive risk,a project manager would want to _____.

Accepted Answer

A) accept the risk 
B) share ownership 
C) avoid the risk 
D) reduce the impact of the risk 
E) transfer the risk 
A) accept the risk 
B) share ownership 
C) avoid the risk 
D) reduce the impact of the risk 
E) transfer the risk

Question 12

Failure to follow a formal risk management plan will often cause organizations to be reactive and find themselves in a state of perpetual crisis,a condition known as crisis management.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Sensitivity analysis is used to determine the joint effects of multiple risky tasks,while Monte Carlo Simulation is used to measure which individual tasks pose the greatest project risk.

Accepted Answer

A) True 
 B)False

Question 15

What is a Monte Carlo simulation? Describe a situation other than the one used in this chapter)that could make good use of a Monte Carlo simulation.

Accepted Answer

Monte Carlo simulation is a technique th

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

_____ involves development of a risk management plan.

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 18

Gaining consensus from a group of experts would be 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 19

_____ involves developing a probabilistic model 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 20

The area under the normal distribution curve that lies within 2 standard deviations of the mean plus or minus)includes about 68% of all the values.

Accepted Answer

A) True 
 B)False

The IT Project Risk Management Processes include all of the following except:

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

The best time to plan for risk is during the project execution phase when risk can be assessed most accurately.

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

Triggers or flags in the form of metrics should be identified to draw attention to a particular risk when it occurs.

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

What is meant by crisis management? And why do many organizations find themselves in this mode?

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

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

Unknown-unknown risks are residual risks that we cannot even imagine happening.

Risks may be positive or negative.For a positive risk,a project manager would want to _____.

Failure to follow a formal risk management plan will often cause organizations to be reactive and find themselves in a state of perpetual crisis,a condition known as crisis management.

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

Sensitivity analysis is used to determine the joint effects of multiple risky tasks,while Monte Carlo Simulation is used to measure which individual tasks pose the greatest project risk.

What is a Monte Carlo simulation? Describe a situation other than the one used in this chapter)that could make good use of a Monte Carlo simulation.

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.

_____ involves development of a risk management plan.

Gaining consensus from a group of experts would be most closely associated with:

_____ involves developing a probabilistic model for understanding and responding to identified risks.

The area under the normal distribution curve that lies within 2 standard deviations of the mean plus or minus)includes about 68% of all the values.

The Nature of Information Technology Projects

Initializing and Conceptualizing the IT Project

The Project Infrastructure

The Human Side of Project Management

Defining and Managing Project and Product Scope

The Work Breakdown Structure and Project Estimation

The Project Schedule and Budget

Project Communication,tracking,and Reporting

It Project Quality Management

Managing Organizational Change, resistance, and Conflict

Project Procurement Management and Outsourcing

Leadership and Ethics

Project Implementation, closure, and Evaluation

Filters

Exam 8: Managing Project Risk

The IT Project Risk Management Processes include all of the following except:

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

The best time to plan for risk is during the project execution phase when risk can be assessed most accurately.

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

Triggers or flags in the form of metrics should be identified to draw attention to a particular risk when it occurs.

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

What is meant by crisis management? And why do many organizations find themselves in this mode?

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

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

Unknown-unknown risks are residual risks that we cannot even imagine happening.

Risks may be positive or negative.For a positive risk,a project manager would want to _____.

Failure to follow a formal risk management plan will often cause organizations to be reactive and find themselves in a state of perpetual crisis,a condition known as crisis management.

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

Sensitivity analysis is used to determine the joint effects of multiple risky tasks,while Monte Carlo Simulation is used to measure which individual tasks pose the greatest project risk.

What is a Monte Carlo simulation? Describe a situation other than the one used in this chapter)that could make good use of a Monte Carlo simulation.

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.

_____ involves development of a risk management plan.

Gaining consensus from a group of experts would be most closely associated with:

_____ involves developing a probabilistic model for understanding and responding to identified risks.

The area under the normal distribution curve that lies within 2 standard deviations of the mean plus or minus)includes about 68% of all the values.

The Nature of Information Technology Projects

Initializing and Conceptualizing the IT Project

The Project Infrastructure

The Human Side of Project Management

Defining and Managing Project and Product Scope

The Work Breakdown Structure and Project Estimation

The Project Schedule and Budget

Project Communication,tracking,and Reporting

It Project Quality Management

Managing Organizational Change, resistance, and Conflict

Project Procurement Management and Outsourcing

Leadership and Ethics

Project Implementation, closure, and Evaluation

Filters