1. An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed.
A) Random chance
B) A disaster
C) Risk
D) Hazard
E) Bad luck
2.The cost impact of a risk event occurring as a project proceeds through its life cycle tends to
A) Slowly rise
B) Drop sharply and then level out
C) Rise sharply and then level out
D) Remain about the same
E) Slowly drop
3. Which of the following is not one of the steps in the risk management process?
A) Risk response development
B) Risk assessment
C) Risk identification
D) Risk tracking
E) Risk response control
4.One common mistake made early in the risk identification process is
A) Not all possibilities are considered
B) Participants are over-optimistic
C) Participants are over-pessimistic
D) Focus on objectives and not on the events that could produce consequences.
E) Too much attention is given to past events
5.The 1999 NASA Mars Climate Orbiter is an example of
A) Disaster avoidance through proactive risk management
B) Murphy's Law
C) Proper use of critical thinking
D) Mismanaged risk control
E) Using historical records to assess risk
6.A list of questions that address traditional areas of uncertainty on a project is termed a risk
A) Profile
B) Questionnaire
C) Research
D) Query
E) Checklist
7.All of the following are included in the risk identification process except
A) Customers
B) Subcontractors
C) Competitors
D) Vendors
E) None of these are included
8.The easiest and most commonly used technique for analyzing risks is _____ analysis.
A) Probability
B) Scenario
C) Payback
D) Risk/reward
E) Impact
9.A risk profile is a list of questions that address traditional areas of uncertainty on a project that answers developed from:
A) When the event might occur in the project
B) Chances of the event occurring
C) Interaction with other parts of the project or with other projects
D) From previous, similar projects
E) Magnitude or severity of the event's impact
10.The risk assessment form contains all of the following except
A) Likelihood of the risk event occurring
B) Potential impact of the risk event
C) Who will detect the occurrence of the risk event.
D) Difficulty of detecting the occurrence of the risk event
E) When the risk event may occur
11.Which of the following is not one of the probability analysis tools?
A) Ratio/range analysis
B) Decision tree
C) PERT simulation
D) PERT
E) All of these are probability analysis tools
12.The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following?
A) Mitigating
B) Retaining
C) Ignoring
D) Transferring
E) Sharing
13.Technical risks are:
A) Often the kind that can cause the project to be shut down.
B) Problematic
C) Imposed duration dates
D) Both A and B are correct
E) A, B, and C are all correct
14.Detailing all identified risks, including descriptions, category, and probability of occurring, impact, responses, contingency plans, owners and current status is called:
A) Management reserves
B) Change control
C) Contingency reserves
D) Risk register
E) Risk profiles
15.Change management systems are designed to accomplish all of the following except:
A) Track all changes that are to be implemented
B) Review, evaluates, and approve/disapprove proposed changes formally
C) Identify expected effects of proposed changes on schedule and budget
D) Reflect scope changes in baseline and performance measures
E) All of the above are correct