Question 1

Decision tree analysis is a statistical technique that captures the average value of potential projects by analyzing the likelihood of possible project outcomes as well as each outcome's financial consequences.

Accepted Answer

A) True 
 B)False  False

Question 2

_________involves the establishment of probabilities regarding both the impact and the likelihood of specific risk occurrence.

Accepted Answer

Qualitative risk analysis

Question 3

_________is a technique used to examine the potential impact of specific risks to a project.

Accepted Answer

Sensitivity analysis

Question 4

Information gathering techniques commonly used during risk identification include:

Accepted Answer

A)  Delphi technique.
B)  interviewing.
C)  brainstorming.
D)  all of the above.

Question 5

_________are designed to evaluate the effectiveness of risk response strategies and risk owners.

Accepted Answer

A)  Project risk response audits
B)  Project risk assessments
C)  Periodic project risk reviews
D)  Periodic risk assessments

Question 6

Risks associated with poor project planning are an example of_________ .

Accepted Answer

The answer of Risks associated with poor project planning are...

Question 7

_________is a risk response strategy in which steps are taken to mitigate project risk.

Accepted Answer

The answer of _________is a risk response strategy in which...

Question 8

Which of the following is NOT a risk management process as identified by the PMBOK guide?

Accepted Answer

A)  Risk management planning
B)  Risk identification
C)  Risk transference
D)  Risk response planning

Question 9

Quantitative risk analysis is the analysis of the probability of occurrence and impact of risk on project objectives using numerical techniques.

Accepted Answer

A) True 
 B)False

Question 10

List the risk categories identified by the PMI and provide examples for each.

Accepted Answer

The answer of List the risk categories identified by the...

Question 11

Risk management _________are used to provide organizational standards for project risk management.

Accepted Answer

The answer of Risk management _________are used to provide organizational...

Question 12

Inconsistent goals are an example of:

Accepted Answer

A)  project management risks.
B)  organizational risks.
C)  external risks.
D)  technical, quality, or performance risks.

Question 13

_________are those risks resulting from the application of a risk response strategy.

Accepted Answer

The answer of _________are those risks resulting from the application...

Question 14

Performance goals that cannot be easily met are an example of organizational risks.

Accepted Answer

A) True 
 B)False

Question 15

_________are useful during risk identification as they allow managers to identify potential risks and trace them back to their root causes.

Accepted Answer

The answer of _________are useful during risk identification as they...

Question 16

Changing industry standards are an example of __________ .

Accepted Answer

The answer of Changing industry standards are an example of...

Question 17

_________are those risks that remain after avoidance, transfer, or mitigation strategies have been applied.

Accepted Answer

The answer of _________are those risks that remain after avoidance,...

Question 18

_________is a statistical technique that captures the average value of potential projects by analyzing the likelihood of possible project outcomes as well as each outcome's financial consequences.

Accepted Answer

The answer of _________is a statistical technique that captures the...

Question 19

It is important to plan a risk management strategy that __________ the type of risk that may be encountered along with the importance of the project to the organization.

Accepted Answer

The answer of It is important to plan a risk...

Question 20

A __________ matrix is used analyze project risk in terms of its probability of occurrence and its impact on project outcomes.

Accepted Answer

The answer of A __________ matrix is used analyze project...

Exam 9: Managing Project Risk