Project Risk Management

_______ is an uncertainty that can have a negative or positive effect on meeting

• Risk utility

• Risk tolerance

• Risk management

• Risk

Risk- _______ receives greater satisfaction when more payoff is at stake and is willing to pay a penalty to take risks.

• Averse

• Seeking

• Neutral

• Aware

Which risk management process involves prioritizing risks based on their probability and impact of occurrence?

• Planning risk management

• Identifying risks

• Performing qualitative risk analysis

• Performing quantitative risk analysis

Your project involves using a new release of a common software application, but if that release is not available, your team has _______ plans to use the current release.

• Contingency

• Fallback

• Reserve

• Mitigation

Which risk identification tool involves deriving a consensus among a panel of experts by using anonymous input regarding future events?

• Risk breakdown structure

• Brainstorming

• Interviewing

• Delphi technique

The person run the brainstorming session called _______

• The facilitator

• The Project Manager

• The Project Monitor

• None of them

A _______ is a document that contains results of various risk management processes, and is often displayed in a table or spreadsheet format.

• Management Plan

• Register

• Breakdown structure

• Risk probability/impact matrix

_______ are indicators or symptoms of actual risk events, such as a cost overrun on early activities being a symptom of poor cost estimates.

• Probabilities

• Impacts

• Watch list items

• Triggers

Suppose there is a 30 percent chance that you will lose $10,000 and a 70 percent chance that you will earn $100,000 on a particular project. What is the project’s estimated monetary value?

• −$30,000

• $70,000

• $67,000

• −$67,000

_______ is a quantitative risk analysis tool that uses a model of a system to analyze its expected behavior or performance.

• Simulation

• Sensitivity analysis

• Monte Carlo analysis

• EMV