WorksheetsRMP - 3. RISK IDENTIFICATION
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
Which of the following are examples of data gathering tools?
a)
Work breakdown structure and historical data.
b)
Questionnaires and historical data.
c)
Risk management plan and interviews.
d)
Work breakdown structure and interviews.
2.
A project sponsor believes that the only risks to the project are financial risks and no need for additional risk management. As a project manager, which of the following tools and techniques could you use to identify other potential topics such as technical, communication, project management and internal and external risks?
a)
Review RACI chart.
b)
Decision tree analysis and Ishikawa diagram.
c)
Prompt lists and risks breakdown structure.
d)
Monte Carlo analysis and Delphi technique.
3.
A risk manager of a complex project has identified a risk and believes a deeper understanding of the source and likelihood is necessary. How should the risk manager proceed?
a)
Develop and employ an Ishikawa diagram.
b)
Perform a review of project documents.
c)
Create prompt lists for expert interviews.
d)
Analyze the assumptions and constraints.
4.
A project manager needs a method to create a quick and simple approach to risk identification to communicate the project risk with the stakeholders. Which one of the following approaches to risk identification should the project manager choose to provide a quick and simple listing of the project risks?
a)
Brainstorming.
b)
Assumptions analysis,
c)
Delphi Technique.
d)
Checklist analysis.
5.
A project manager assigns a risk owner during which of the following processes?
a)
Identify risks.
b)
Plan risk management.
c)
Control risks.
d)
Plan risk responses.
6.
You and your project team are just starting the risk identification activities for a project that is scheduled to last to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?
a)
Several times until the project moves into execution.
b)
Identifying risks is an iterative process.
c)
At least once per month.
d)
It depends on how many risks are initially identified.
7.
An organization faces immense competition in the market and decides to accelerate a key project. What is the first action for the project risk manager to take?
a)
Revise the risk management plan.
b)
Update the risk register.
c)
Ensure sufficient resources are available.
d)
Meet with the project's stakeholders.
8.
The building of an industrial plant has been stopped for four months due to region-specific prohibitions. What should the project manager have done to avoid this issue?
a)
Made a prioritized list of the project constraints.
b)
Crashed the project schedule.
c)
Documented all assumptions.
d)
Identified this as a risk in the risk register.
9.
A project manager is working on a project for which some requirements have not been clearly defined. The customer insists that this should not be considered a problem and that the project should continue without delay. What should the project manager do?
a)
Speak with the customer to avoid the risk.
b)
Accept the risk and start project work.
c)
Meet with the team to discuss the concerns.
d)
Log the risk in the risk register.
10.
A project manager has requested a risk manager facilitate risk identification on a project. While facilitating this effort, the project manager wants to ensure that stakeholders interact and provide their expertise so that an exhaustive list of risks is created. Which risk identification technique should the risk manager use?
a)
Interviews.
b)
Nominal group technique.
c)
Prompt lists.
d)
Delphi technique.
11.
A project manager is assigned to a new project and is told they need to develop the project's risk register. When should the project manager identify the project risks?
a)
Ensure project team members proactively identify risks throughout the project to plan for possible response strategies.
b)
Identify risks only at the project's midpoint for the stakeholders to review them.
c)
Identify risks at the beginning of the project because the risk posture will not change.
d)
Delegate risk identification to each team member and had them record the risks on separate risk registers for their areas.
12.
What best describes the job of a risk owner?
a)
Responsible and accountable for managing risks.
b)
Creating detailed description of a risk.
c)
Responsible and accountable for the risk management plan.
d)
Actively involved in the identification of new risks.
13.
A project manager identified a risk of communication issues with the client which may impact the project schedule. A member of the sales team advises that this client prefers face-to-face conversations. What should the project manager do to avoid this risk?
a)
Record this risk and the client's preference in the risk register.
b)
Meet the client and plan for critical milestone meetings.
c)
Ask the salesperson to lead the communication with the client.
d)
Call the client and advise that online communication is easier and faster.
14.
You would like a method that would allow participants to anonymously identify risk events. What risk identification method could you use?
a)
Delphi technique.
b)
Root cause analysis.
c)
SWOT analysis.
d)
Isolated pilot groups.
15.
An organization performs an annual strategies and initiatives workshop during which a strengths, weaknesses, opportunities and threats (SWOT) analysis is being conducted. As part of this process the functional managers identify the opportunities and threats. What should the risk manager do next?
a)
Utilize different tools to identify the risks.
b)
Update the risk register with the identified risks.
c)
Add only the threats to the risk register.
d)
Plan risk responses to the threats.
16.
What are the key success factors for Identify Risks process?
a)
Recognize the value of risk management and prior risk identification and Qualitative Risk Analysis.
b)
Iterative identification.
c)
Interrelationships between risks in Quantitative Risk Analysis and integration with Project Management.
d)
Recognize the value of Risk Management and Perform Iterative Qualitative Risk Analysis.
17.
Which tool can the project risk manager utilize to help identify and assess project risks?
a)
Risk audit.
b)
Risk surveys.
c)
Sensitivity analysis.
d)
Interviews.
18.
You are a project manager currently finding all of the risks on a project. As a part of this activity, you would like to know the risk attitude and industry studies of similar projects. Which of the following should you refer to for this purpose?
a)
Risk management plan.
b)
Enterprise environment factors.
c)
Stakeholder register.
d)
Project documents.
19.
A risk manager works with the project team, senior management team, subject matter experts and other stakeholders to identify the project risks. Which of the following tools/methods from the risk management plan can be used to identify a risk, which is based on project objectives by category?
a)
Decision tree analysis.
b)
Work breakdown structure.
c)
Affinity diagram.
d)
Risk Breakdown structure.
20.
Rick has just been assigned as the project manager of a project to construct a football stadium. During a planning meeting, the team decides to conduct a site survey to determine the ground conditions before engineering the design. Which of the following risk management processes is the team implementing?
a)
Perform qualitative risk analysis process.
b)
Plan risk response process.
c)
Identify risks process.
d)
Plan risk management process.
21.
A risk manager has been assigned to a project constructing a petrochemical laboratory. Unfamiliar with petrochemical laboratories, the risk manager is unsure of where to start objectively identifying risks. What should the risk manager do?
a)
Define chemical laboratory safety risk thresholds.
b)
Draft threat and opportunity risks that come to mind.
c)
Review published operational experience reports.
d)
Import a risk register from other industry chemical laboratories.
22.
When does the Identify Risks process take place in a project?
a)
At the Executing stage.
b)
At the initiating stage.
c)
Throughout the project lifecycle.
d)
At the Planning stage.
23.
The risk manager is facilitating risk planning activities with the team. The team is documenting all the checkpoints along the way that might indicate delays on critical deliverables. What is this an example of?
a)
Risk responses.
b)
Risk triggers.
c)
Risk categories.
d)
Risk registers.
24.
The project manager works in risk management and is creating a risk register. The risk register records details of all the risks identified at the beginning and during the life of the project. What tool or technique should the project manager use to generate a list of all possible project risks?
a)
Brainstorming.
b)
Tornado diagram.
c)
Monte Carlo.
d)
Probability and impact matrix.
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