PROJ 420 - Project Risk Management - Quiz

Question # 00004104 Posted By: umeed Updated on: 11/25/2013 04:04 PM Due on: 11/05/2013
Subject Business Topic Risk Management and Insurance Tutorials:
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Project risk has been described as:

A planned or scheduled event that has a positive outcome.

A planned or scheduled event that has a negative outcome.

A uncertain event that has a positive or negative effect on at least one project objective.

All of the above.

None of the above

2. Question:

The four stages of Risk Planning are:

Identification, Ranking, Avoidance and Control.

Monitoring, Integration, Acceptance and Identification.

Avoidance, Quantification, Planning and Control.

Identification, Quantification, Response, and Monitoring and Control.

Identification, Response, Acceptance, and Monitoring and Control.

3. Question:

The four possible responses to the Response step in Risk planning are

Avoid, Control, Mitigate, Transfer

Avoid, Transfer, Mitigate, Accept

Avoid, Transfer, Control and Accept.

Accept, Control, Mitigate, Transfer

4. Question:

What document should outline the steps required in a project deliverable?

Work Breakdown Structure (WBS)

Project Scope

Project Templates

Defined Roles

Risk Policies

Explanation: . Project Scope IDs the project but does not outline the steps. Project Templates should only be templates for plans, matrices, and other risk documentation. Defined Roles are to define the roles of the persons involved in the project. Risk Policies should only be documents as to how the company intends to manage risk

5. Question:

If a task were not identified in the WBS:

It will have no effect on the project

It may later create a risk exposure event

Will cause problems for competing companies

Will have no effect on the production line

Will have no effect on schedules or budgets

6. Question:

The most important inputs, outputs and tools for Risk Management Planning are:

Policies and Procedures, Defined Roles, Planning Templates, and WBS.

Scope document, Resources, WBS, and Deliverables

Roles, Responsibilities, Scope, Deliverables and WBS.

7. Question:

Of the following processes concerned with conducting risk management, which one uses numerical analysis?

Quantitative Risk Analysis

Risk Management Planning

Risk Monitoring and Control

Risk Identification

Risk Response Planning

8. Question:

Which of the following is useful in reviewing a project for risks?

Work Breakdown Structure

Scope Statement



All of the Above

9. Question:

What Qualitative Risk Analysis tool would contain a list of low priority risks?

Probability Matrix

Project Scope Statement

Risk Categories

Risk ter

None of the above

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Tutorials for this Question
  1. Tutorial # 00003884 Posted By: umeed Posted on: 11/25/2013 04:06 PM
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