POST TEST (RISK MANAGEMENT AND PROBLEM SOLVING)

What is the first step in the risk management process?

• A. Risk monitoring

• B. Risk identification

• C. Risk mitigation

• D. Risk prioritization

Which of the following is NOT a common risk mitigation strategy?

• A. Avoidance

• B. Reduction

• C. Enhancement

• D. Transfer

What is the primary purpose of risk assessment?

• D. To ignore potential threats

• B. To understand and prioritize risks

• A. To eliminate all risks

• C. To increase project costs

Which of the following is a key component of a risk management plan?

• B. Project timeline

• A. Risk acceptance criteria

• C. Team member roles

• D. Budget allocation

Which tool is typically used to assess the probability and impact of risks?

• A. Fishbone diagram

• B. Risk assessment matrix

• C. SWOT analysis

• D. Cost-benefit analysis

What is the purpose of root cause analysis in problem-solving?

• A. To identify quick solutions

• B. To explore alternative strategies

• C. To determine the underlying cause of a problem

• D. To prioritize multiple problems

What is the role of monitoring in the risk management process?

• A. To identify new risks only

• B. To evaluate the effectiveness of implemented risk responses

• C. To eliminate all potential risks

• D. To implement solutions immediately

What is a common challenge in problem-solving that can hinder effective solutions?

• A. Overabundance of data

• B. Collaboration among team members

• C. Lack of clear problem definition

• D. Availability of tools and resources

What is the significance of risk communication in the risk management process?

• D. To increase project complexity

• B. To create more risks

• C. To avoid discussing risks

• A. To inform stakeholders about risks

In problem-solving, what is the significance of brainstorming?

• A. It identifies the root cause of the problem.

• B. It evaluates the feasibility of a solution.

• C. It generates multiple potential solutions to a problem.

• D. It prioritizes the most urgent problem.