Chat with us, powered by LiveChat PROJ 420 – Project Risk Management – Quiz | Gen Paper

1. 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 areAvoid, Control, Mitigate, TransferAvoid, Transfer, Mitigate, AcceptAvoid, Transfer, Control and Accept.Accept, Control, Mitigate, Transfer4. Question: What document should outline the steps required in a project deliverable?Work Breakdown Structure (WBS)Project ScopeProject TemplatesDefined RolesRisk 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 projectIt may later create a risk exposure eventWill cause problems for competing companiesWill have no effect on the production lineWill have no effect on schedules or budgets6. 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 DeliverablesRoles, Responsibilities, Scope, Deliverables and WBS.7. Question: Of the following processes concerned with conducting risk management, which one uses numerical analysis?Quantitative Risk AnalysisRisk Management PlanningRisk Monitoring and ControlRisk IdentificationRisk Response Planning8. Question: Which of the following is useful in reviewing a project for risks?Work Breakdown StructureScope StatementBudgetScheduleAll of the Above 9. Question: What Qualitative Risk Analysis tool would contain a list of low priority risks?Probability MatrixProject Scope StatementRisk CategoriesRisk RegisterNone of the above

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