PM II Final Exam - Seniors

Which of the following is a true statement about projects:

• They rely on traditional management structures.

• They create goods, not services.

• They are short-term undertakings.

• Their processes are more important than their results.

Treating stakeholders unethically is most likely to present ________ risks. 

• hazard

• strategic

• minimal

• operational

Businesses are most likely to prepare contingency and fallback plans for risks that they choose to 

• avoid

• transfer

• mitigate

• accept

The two dimensions of risk are 

• impact and avoidance

• probability and avoidance

• probability and impact

• mitigation and acceptance

Ceri was late to send out an email to customers. When her supervisors asked her about it, she said that it was late because the computer system was having problems. Ceri is putting her company at risk due to 

• unsafety

• conflicts of interest

• dishonesty

• lack of security

If a company does not take the time to manage risks, it is 

• seeking a larger return on investment

• treating customers fairly

• not being ethical

• enhancing possibilities for gain

Which of the following is an example of risk management?

• checking that a new product works the way it is supposed to

• treating others with respect

• following all of the rules and procedures

• developing an alternative plan in case of technology failure

The term risk is used in business to refer to the

• mistakes that employees make.

• possibility of loss or gain.

• chances that consumers take.

• uncontrollable possibility of danger.

Training and continuing education, rewarding ethical behavior, leading by example, and maintaining an open door policy are all ways to

• reduce employee creativity.

• ensure adherence to an ethics code.

• heighten conflict among employees.

• increase competition and mistrust.

When planning to throw a party for her parents, Aisha first planned to buy an ice cream cake and serve it at the beginning of the party so it wouldn’t melt. However, when she realized that the ice cream cake was too expensive, she switched to cupcakes, which would be served at the end of the party. This is an example of how

• identifying resources can change the way you carry out a project.

• projects can easily fail even if you identify needed resources.

• identifying people resources is necessary for project success.

• planning a project is useless because of unexpected obstacles.