Long Quiz Lap 8 and 9 - 3B

What is the primary goal of risk management in a project?

• To eliminate all risks

• To identify and migrate risks

• To avoid all negative events

• To ensure project success without risks

Why is risk management important in project management?

• It increases the probability of negative events

• It affects only the scope of the project

• It enhances project scheduling

• It affects all aspects of the project

What is included in the risk management process?

• Risk Response Planning

• Only Risk Identification

• Resource Allocation

• Cost Estimation

How can risks be effectively communicated in a project?

• By ignoring them

• By discussing them with stakeholders

• By only documenting them

• By reporting them after project completion

Which analysis is used to assess the impact and likelihood of identified risks?

• SWOT Analysis

• Qualitative Risk Analysis

• Resource Allocation Analysis

• Cost-Benefit Analysis

What does a Probability and Impact Matrix help with?

• Identifying stakeholders

• Risk urgency assessment

• Estimating project costs

• Scheduling tasks

What technique is used in Quantitative Risk Analysis?

• SWOT Analysis

• Decision Tree Analysis

• Checklist Analysis

• Stakeholder Mapping

Which of the following is a method for planning risk response to negative risks?

• Exploit

• Enhance

• Mitigate

• Share

What is a contingency plan in risk management?

• A plan to ignore risks

• A plan for regular audits

• A plan if the risk occurs

• A financial backup plan

What is the purpose of a risk audit?

• To eliminate risks

• To examine the effectiveness of planned risk responses

• To increase project costs

• To delay project timelines