Project Risk Management Quiz

What is project risk management?

• The process of identifying, analyzing and responding to risks.

• A reactive approach to managing project issues.

• A method to ignore potential risks.

• A way to ensure project success without planning.

What are risks in project management?

• Anything that could impact the project’s timeline.

• Guaranteed issues that will occur.

• Only financial risks.

• Risks that are always manageable.

What is the first step in the Six-Step Process?

• Make a list of potential risks.

• Determine the probability of risks.

• Prevent or mitigate the risks.

• Establish the trigger point.

How should the list of potential risks be created?

• Through a formal brainstorming session.

• By individual analysis.

• By ignoring team input.

• By using past project data only.

What should be considered when rating the negative impact of a risk?

• Budget, schedule, resource utilization, and scope.

• Only the budget.

• The opinions of the project manager.

• Past project outcomes.

What is the goal of Step 4 in the risk management process?

• To prevent or mitigate the risk.

• To ignore the risks.

• To analyze past risks.

• To create a new project plan.

What are preventive measures in project risk management?

What should you consider if the risk becomes reality?

What is the trigger point in project risk management?

What are contingency reserves?