26 Jun Project Management Ch 7 – Managing Risk – 6th Edition
Project Management Ch 7 – Managing Risk
Managing Risk
Project Management Ch 7
6th Edition
Your Results:
The answer for each question is indicated by a .
1
An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives is termed a
A)
Random chance
B)
Disaster
C)
Risk
D)
Hazard
E)
Bad luck
2
The cost impact of a risk event occurring as a project proceeds through its life cycle tends to
A)
Slowly rise
B)
Drop sharply and then level out
C)
Rise sharply and then level out
D)
Remain about the same
E)
Slowly drop
3
Which of the following is NOT one of the steps in the risk management process?
A)
Which of the following is NOT one of the steps in the risk management process?
B)
Risk assessment
C)
Risk identification
D)
Risk tracking
E)
Risk response control
4
Organizations use __________ in conjunction with work breakdown structures to help management teams identify and eventually analyze risk.
A)
Risk breakdown structures
B)
Contingency breakdown structures
C)
Scenario analysis
D)
Organizational breakdown structure
E)
Risk assessment
5
Which of the following groups should NOT be a part of the risk identification process?
A)
Project team
B)
Customers
C)
Subcontractors
D)
Vendors
E)
All of these groups can be included in the risk identification process
6
A list of questions that address traditional areas of uncertainty on a project is termed a
A)
Risk profile
B)
Questionnaire
C)
Research matrix
D)
Query
E)
Checklist
7 UNANSWERED
_______________ focuses on how to respond to events that have a positive impact on a project.
A)
Risk management
B)
Risk management
C)
Value management
D)
Contingency management
E)
Prospect management
8
The risk management tool that is divided into three color-coded zones representing major, moderate, and minor risks is the risk
A)
Assessment form
B)
Responsibility matrix
C)
Scenario assessment
D)
Impact assessment
E)
Severity matrix
9
Risks are evaluated in terms of
A)
Likelihood and cost
B)
Cost and schedule
C)
Impact and cost
D)
Time and impact
E)
Likelihood and impact
10
Adopting proven technology instead of experimental technology in order to eliminate technical failure would be an example of which risk response?
A)
Mitigating
B)
Retaining
C)
Ignoring
D)
Transferring
E)
Avoiding
11
A Fixed price contract is an example of ___________.
A)
Avoiding risk
B)
Transferring risk
C)
Accepting risk
D)
Ignoring risk
E)
Mitigating risk
12
The risk associated with the unlikelihood that one of the key members will be stuck by lightning would most likely be handled by which of the following?
A)
Mitigating
B)
Retaining
C)
Ignoring
D)
Transferring
E)
Avoiding
13
Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.
A)
Management
B)
Budget
C)
Contingency
D)
Padded
E)
Just in case
14
Which of the following is NOT involved in risk control?
A)
Executing the risk response strategy
B)
Initiating contingency plans
C)
Establishing a change control system
D)
Establishing contingency funds
E)
Watching for new risks
15
Change management systems are designed to accomplish all of the following EXCEPT
A)
Track all changes that are to be implemented
B)
Review, evaluate, and approve/disapprove proposed changes formally
C)
Identify expected effects of proposed changes on schedule and budget
D)
Reflect scope changes in baseline and performance measures
E)
All of these are examples of what change management systems are designed to accomplish
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.