Chapter 11 Risk Management

The Perform Quantitative Risk Analysis process has three tools and techniques, including Data Gathering and Representation Techniques and Expert Judgment Which of the following tools and techniques is missing?

• Pre-Assignment
• Run Chart
• Virtual Teams
• Quantitative Risk Analysis and Modeling Techniques

Which of the following documents is created as needed in all Project Risk Management processes except the Plan Risk Management process?

• Risk Breakdown Structure
• Risk Audit Document
• Risk Reassessment Document
• Risk Register

Which of the following is an output of the Perform Qualitative Risk Analysis process?

• Project Scope Statement
• Project Management Plan Updates
• Stakeholder Register
• Project Documents Updates

Which of the following is an output of the Identity Risks process?

• Activity Duration Estimates
• Scope Baseline
• Risk Register
• Project Schedule Network Diagrams

In the early phases of your project, you made and documented many assumptions regarding the availability of materials and experts, as well as the weather conditions. While planning risk responses, which of the following should your team refer to in order to find out about these assumptions?

• Work Breakdown Structure
• Project Scope Statement
• Resource Breakdown Structure
• Project Schedule

The Perform Qualitative Risk Analysis process has five inputs, including Risk Register, Risk Management Plan, Organizational Process Assets, and Enterprise Environmental Factors. Which of the following inputs is missing from the list?

• Teaming Agreements
• Scope Baseline
• Requirements Traceability Matrix
• Resource Calendars

Symptoms on a project that indicate a risk event is about to occur are called?

• Trigger conditions
• Secondary risks
• Residual risks
• Uncertainly

When you initially started your construction project, you and your team identified a lot of risks. Then, during execution, the actual volume of these risks ended up being far less than you expected. You now want to update this information so that future projects can benefit from what you learned without having to spend a lot of time and money on risk identification. Where would you update this information?

• In the Project Scope Document
• In the Risk Register
• In the Procurement Documents
• In the Probability and Impact Document

The Identify Risks Process has seven tools and techniques, including Documentation Reviews, Information Gathering techniques, Checklist Analysis, Diagramming Techniques, SWOT Analysis, and Expert Judgment. Which of the following tools or techniques is missing from the list?

• Group Decision Making Techniques
• Prototypes
• Project Management Information System
• Assumptions Analysis

Your project has following estimates that 15% probability for $10,000 profit, 50% probability for $40,000 profit, and 25% probability for $50,000 profit. What is the expected profit?

• $34,000
• $38,000
• $42,000
• $43,500