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Project Management Risk Questions
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- Risk identification diagramming techniques include the following except:
A. Delphi
B. cause and effect
C. system or process
D. influence
- The tornado diagram is most often associated with:
A. sensitivity analysis
B. expected monetary value
C. decision tree analysis
D. simulations
- The triangular distribution gathers information from all of the following scenarios except:
A. most likely
B. mean
C. optimistic
D. pessimistic
- Which of the following is used as a model for a schedule risk analysis?
A. work breakdown schedule
B. PDM schedule
C. duration estimates
D. schedule management plan
- Your project has 30% probability of having to pay $20,000 in damages and a 40% probability of receiving $30,000 in damages. What is the expected monetary value of this situation?
A. -6
B. 6
C. -12
D. 12
- All of the following are strategies to deal with risks with potentially positive impacts On project objectives except:
A. mitigation
B. exploit
C. share
D. enhance
- Examples of mitigation include all of the following except:
A. establishing a contingency reserve
B. adopting a less comp1ex processes
C. conducting more tests
D. choosing a more stable supplier
- Project risks are:
A. always negative
B. always positive
C. may be positive or negative
D. may begin positive but always turn negative
- The risks placed on a watch list for continued monitoring usually include:
A. risks requiring a near-term response
B. risks assessed as important, based on qualitative risk analysis
C. risks assessed as not important, based on qualitative risk analysis
D. risks requiring additional analysis and response
- Your organization is in the process of identifying risks for your project. You explain that there are really two types of risks called:
A. pure and insurable
B. pure and business
C. legal liability and personnel-related
D. direct property damage and indirect consequential loss
- The risk register should include all the following except:
A. SWOT analysis
B. list of identified risks
C. list of potential responses
D. root causes of a risk
- Reserve analysis looks at:
A. plan versus actual on cost performance
B. plan versus actual on schedule performance
C. the amount of contingency reserve remaining versus the amount of risk remaining
D. the amount of money remaining versus the amount of work remaining
- Deviations from the project plan may indicate:
A. the project team has apathy for the project more quality inspectors
B. poor team work
C. potential impacts of threats and opportunities
D. the need for more quality inspectors
- Workaround plans are:
A. unplanned before the risk event occurs
B. developed to aid in risk avoidance
C. associated with risk mitigation
D. the same as contingency plans
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