Risk Management

In which life-cycle phase would project uncertainty be the greatest?

• Initiation

• Planning

• Execution

• Closure

Identifying a risk as high, moderate, or low would be an example of which risk assessment?

• Go-for-broke

• Adverse

• Qualitative

• Quantitative

Monte Carlo simulation is an example of which risk assessment?

• Go-for-broke

• Adverse

• Qualitative

• Quantitative

Risk symptoms or early warning signs are called

• Vectors

• Triggers

• Pre-events

• Contingency events

A risk response strategy that generally reduces the probability or impact of the event without altering the project’s objectives is called

• Avoidance

• Acceptance

• Mitigation

• Transfer

Purchasing insurance is BEST considered an example of risk

• Mitigation

• Transfer

• Acceptance

• Avoidance