Solved by verified expert :Page 1
Question 1. 1. (TCO 1) Project risk has its origins in
(Points : 5)
opportunities.
threats.
uncertainties.
contingencies.
Question 2. 2. (TCO 2) The identification process produces
(Points : 5)
a risk action
plan.
an agreed list
of risks.
an RBS.
a WBS.
Question 3. 3. (TCO 3) The outputs of the identification
step include (Points : 5)
risk
consolidation.
recording of
risk responses.
identification
of all knowable risks.
All of the
above
Question 4. 4. (TCO 4) Factors to consider in planning a
response strategy include (Points : 5)
resource availability.
manageability.
impact
severity.
All of the
above
Question 5. 5. (TCO 5) Secondary risk is caused by (Points :
5)
missing
identification of a risk.
unknown risks.
taking action
on defined risks.
None of the
above
Question 6. 6. (TCO 6) The reporting step is designed to
fulfill the function of (Points : 5)
completion.
close out.
communication.
analysis.
Question 7. 7. (TCO 7) The primary input to a major review is
(Points : 5)
an RBS.
a WBS.
a risk report.
a risk
register.
Question 8. 8. (TCO 8) The final risk register will show the
final status of the risks as (Points : 5)
expired.
closed.
deleted.
All of the
above
Question 9. 9. (TCO 1) Structured project risk management is
(Points : 5)
one size fits
all.
difficult to
use.
scalable.
effective but
time consuming.
Question 10. 10. (TCO 2) The WBS can be used to (Points : 5)
define the project effort.
set a baseline.
set the project
goals.
All of the
above
Question 11. 11. (TCO 3) A standard risk checklist includes
(Points : 5)
risks that you
have identified.
steps to take
to deal with the risks.
risks
identified in previous projects.
None of the
above
Question 12. 12. (TCO 4) The first document produced at the
end of the Assessment step is (Points : 5)
an RBS.
a risk management
plan.
a risk
register.
a WBS.
Question 13. 13. (TCO 5) The purpose of the implementation
plan is (Points : 5)
to perform
agreed actions and report on progress.
to identify
secondary risks.
to identify new
risks.
All of the above
Question 14. 14. (TCO 6) Transferring a risk (Points : 5)
eliminates the
risk.
transfers
ownership to a third party.
transfers
response ownership and impact to a third party.
is used for
uncertain risks.
Question 15. 15. (TCO 7) Risk management needs to be an
ongoing process throughout the project because the (Points : 5)
scope changes.
risk changes.
resource
changes.
budget changes.
Question 16. 16. (TCO 8) The purpose of evaluating the risk
responses is to (Points : 5)
critique the
action owner.
keep the
responses that work.
assess the
probability levels.
None of the
above
Question 17. 17. (TCO 1) Risk and uncertainty are different
because (Points : 5)
they occur at
different times.
uncertainty
does not involve possible loss of money.
risk is known.
All of the
above
Question 18. 18. (TCO 3) The WBS (Points : 5)
identifies the
work.
identifies the
effort.
identifies the
goals.
identifies the
stakeholders.
Question 19. 19. (TCO 5) Exploiting an opportunity is
(Points : 5)
making sure
that it is taken.
sharing the
risk with a third party.
increasing the
probability and impact of the risk.
None of the
above
Question 20. 20. (TCO 2) Issues differ from risks because
(Points : 5)
they are not as
serious as risks.
they have no
impact on the project.
they are more
vague than risks.
risks are more
dangerous.
Page 2
Question 1. 1. (TCO 2) Risk identification focuses on two
risk categories. They are _____. (Points : 15)
Question 2. 2. (TCO 4) What are the three heuristics that
are used in the case of uncertainty? (Points : 15)
Question 3. 3. (TCO 7) Once an active risk is encountered
and the risk register action is taken, what can develop from that action?
(Points : 15)
Question 4. 4. (TCO 8) The focus of the post project review
is to take advantage of what? (Points : 15)
Page 3
Question 1. 1. (TCO 1) There are four critical success
factors for effective risk management. List them and provide a detailed
description of each. (Points : 30)
Question 2. 2. (TCO 2) This is a two-part question. The WBS
is considered a critical tool for the project and for risk management. (1)
Discuss why it is critical, and what it is not designed to do; and (2) discuss
why it is important to identify all of the tasks in building the WBS. (Points :
30)
Question 3. 3. (TCO 5) Risk assessment is done in two steps.
Identify the two steps and briefly discuss each. (Points : 30)
