Risk Management Quiz

What is the first step in Risk Management?

• Risk Mitigation

• Risk Identification

• Risk Analysis

• Risk Communication

Which of the following best describes Risk Analysis?

• Implementing solutions to manage risks

• Communicating risks to stakeholders

• Evaluating the impact and likelihood of identified risks

• Tracking issues that arise from risks

What is a primary goal of Risk Mitigation Strategies?

• To eliminate all project risks

• To increase the impact of risks

• To reduce the impact or likelihood of risks

• To identify new risks

Which tool is commonly used for Issue Tracking?

• SWOT Analysis

• Risk Matrix

• Issue Log

• Stakeholder Map

What is the main purpose of Issue Resolution in the context of project management?

• To communicate all issues to the public

• To find and implement a fix to a problem

• To identify potential future issues

• To analyze the impact of issues

Which of the following is NOT a typical step in Risk Communication?

• Sharing risk analysis reports with stakeholders

• Keeping risk information confidential from project teams

• Discussing risk mitigation plans with relevant parties

• Updating stakeholders on new risks

What does a Risk Matrix help with?

• Identifying issues

• Communicating issues

• Analyzing risks

• Resolving risks

Which of the following is an example of a Risk Mitigation Strategy?

• Risk Transfer

• Risk Identification

• Issue Logging

• Stakeholder Analysis

In the context of risks and issues, what is the main difference between them?

• Risks are uncertain, issues are events that have occurred

• Issues are uncertain, risks are events that have occurred

• Risks and issues are the same

• There is no recognized difference in project management

Effective Risk Communication should include:

• Only discussing resolved issues

• Withholding risk details to avoid panic

• Regular updates and transparent reporting

• Limiting communication to high-level stakeholders