
Project Risk Management - Final Exam
Authored by Dionne Cooper-Jones
Professional Development
Professional Development
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50 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following best defines project risk?
An issue that has already occurred
An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives
A guaranteed event that impacts cost or schedule
A change request submitted to the project sponsor
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are managing a marketing campaign. There is a risk that a competitor may launch a similar campaign first. You decide to launch your campaign earlier to guarantee you hit the market before them. What strategy is this?
Exploit
Avoid
Mitigate
Transfer
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A risk that increases project value if it occurs is called:
Negative risk
Threat
Opportunity
Assumption
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which risk response strategy is most appropriate for threats that must be eliminated entirely?
Accept
Avoid
Transfer
Mitigate
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are managing a construction project during hurricane season. The team decides to purchase insurance. What strategy is this?
Mitigation
Transfer
Accept
Avoid
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which process comes first in risk management according to PMBOK?
Perform Quantitative Risk Analysis
Plan Risk Management
Identify Risks
Plan Risk Responses
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are building a bridge, but heavy storms could delay construction. The team changes the schedule to avoid working in rainy months. What strategy is this?
Avoid
Mitigate
Transfer
Accept
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