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.
Question 1. 1. (TCO 2) Risk identification
focuses on two risk categories. They are _____. (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)
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)
Page 1Question 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 aboveQuestion 4. 4. (TCO 4) Factors to consider
in planning a response strategy include (Points : 5)
resource availability.
manageability.
impact severity.
All of the aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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 aboveQuestion 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.Question 1. 1. (TCO 2) Risk identification
focuses on two risk categories. They are _____. (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)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)
