Question 1

Project teams can often identify risks by conducting any of several types of reviews.Which of the following illustrates a valuable type of risk review?

Accepted Answer

A)   review the project schedule to determine if certain people are overloaded 
B)   review previous projects to verify that each current assumption is correct 
C)   review the communication plan to determine where poor communications could cause a problem 
D)   review sunk costs to determine project continuance C

Question 2

Perform Quantitative Risk Analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.

Accepted Answer

A) True 
 B)False  False

Question 3

Plan Risk Responses is the process of developing options and actions to enhance opportunities and reduce threats to project objectives.

Accepted Answer

A) True 
 B)False  False

Question 4

The risk register is a living document and new risks can be added as they are discovered.

Accepted Answer

A) True 
 B)False

Question 5

Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events.All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:​

Accepted Answer

A)   develop a flow chart that shows how people, materials or data flow from one person or location to another 
B)   conduct a root cause analysis 
C)   understand trigger conditions, or circumstances under which a risk strategy or risk action will be invoked 
D)   perform a Monte Carlo analysis

Question 6

Identify five common project risk strategies employed to address threats that your project may face.Give an example of each.

Accepted Answer

The answer of Identify five common project risk strategies employed...

Question 7

All of the following criteria can be used to categorize project risks EXCEPT:​

Accepted Answer

A)   whether the risk is a known known 
B)   the project objective that may be impacted by the risk (cost, schedule, scope and / or quality)  
C)   whether the risk is internal or external to the performing organization 
D)   when it occurs in the project life cycle

Question 8

Risk response strategies such as mitigation and exploitation apply to both threats and opportunities.

Accepted Answer

A) True 
 B)False

Question 9

All of the following are among the classic risk response strategies EXCEPT:

Accepted Answer

A)   share a threat 
B)   transfer a threat 
C)   enhance an opportunity 
D)   avoid a threat

Question 10

On agile projects,detailed risk management activities may occur during all of the following times EXCEPT:

Accepted Answer

A)   While planning each subsequent iteration. 
B)   During early risk planning at the start of the project. 
C)   In daily stand-up meetings. 
D)   During retrospectives at the end of each iteration.

Question 11

Identify and describe three risk identification techniques.What are some of the benefits of each technique?

Accepted Answer

The answer of Identify and describe three risk identification techniques.What...

Question 12

The risk register is a component of the project management plan that describes how risk management activities will be structured and performed on a project.

Accepted Answer

A) True 
 B)False

Question 13

The primary output of Identify Risks is the Risk Identification Matrix (RIM).

Accepted Answer

A) True 
 B)False

Question 14

In some cases,project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable,rather than eliminate it completely.

Accepted Answer

A) True 
 B)False

Question 15

When the impact of an event is negative,it is considered a risk; when the impact is positive,the event is considered an opportunity.

Accepted Answer

A) True 
 B)False

Question 16

Risk response strategies such as accept risk and research risk apply to both threats and opportunities.

Accepted Answer

A) True 
 B)False

Question 17

All of the following activities are appropriate upon completion of risk response planning EXCEPT:

Accepted Answer

A)   The risk register should be updated to reflect the risk response strategies. 
B)   The risk register should be baselined after planning is completed, and should not be updated once the project is in flight. 
C)   The project plan should be updated to reflect any changes to the project schedule, budget or resource assignments. 
D)   A single person should be assigned as the owner of each risk.

Question 18

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:​

Accepted Answer

A)   Large, complex and expensive projects stand to benefit from the additional rigor of quantitative risk analysis techniques. 
B)   Quantitative techniques are used when it is critical to predict the probability of completing a project on time or within budget with confidence. 
C)   Brainstorming techniques are used by the team and other stakeholders to identify as many project risks as possible. 
D)   Decision Tree Analysis and Simulation techniques such as Monte Carlo Analysis are examples of useful quantitative risk analysis techniques.

Question 19

A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project,with results displayed in the form of a tornado diagram?​

Accepted Answer

A)   Failure Mode and Effects Analysis (FME
A)   
B)   Expected Monetary Value (EMV)  
C)   Sensitivity Analysis 
D)   Simulation Techniques such as Monte Carlo Analysis

Exam 11: Project Risk Planning

Project teams can often identify risks by conducting any of several types of reviews.Which of the following illustrates a valuable type of risk review?

Perform Quantitative Risk Analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.

Plan Risk Responses is the process of developing options and actions to enhance opportunities and reduce threats to project objectives.

The risk register is a living document and new risks can be added as they are discovered.

Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events.All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:​

Identify five common project risk strategies employed to address threats that your project may face.Give an example of each.

All of the following criteria can be used to categorize project risks EXCEPT:​

Risk response strategies such as mitigation and exploitation apply to both threats and opportunities.

All of the following are among the classic risk response strategies EXCEPT:

On agile projects,detailed risk management activities may occur during all of the following times EXCEPT:

Identify and describe three risk identification techniques.What are some of the benefits of each technique?

The risk register is a component of the project management plan that describes how risk management activities will be structured and performed on a project.

The primary output of Identify Risks is the Risk Identification Matrix (RIM).

In some cases,project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable,rather than eliminate it completely.

When the impact of an event is negative,it is considered a risk; when the impact is positive,the event is considered an opportunity.

Risk response strategies such as accept risk and research risk apply to both threats and opportunities.

All of the following activities are appropriate upon completion of risk response planning EXCEPT:

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:​

A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution.

Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project,with results displayed in the form of a tornado diagram?​

Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events.All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:

All of the following criteria can be used to categorize project risks EXCEPT:

All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT:

Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project,with results displayed in the form of a tornado diagram?