71% found this document useful (7 votes) 2K views 52 pages 224818618-Chap-007 224818618-Chap-007 © © All Rights Reserved PDF, TXT or read online from Scribd Did you find this document useful?71% found this document useful (7 votes) 2K views52 pages Chap 007Original Title:224818618-Chap-007 You're Reading a Free Preview You're Reading a Free
Preview You're Reading a Free Preview 11. A list of questions that address traditional areas of uncertainty on a project is termed ariskA. Risk profileB. QuestionnaireC. ResearchD. QueryE. Checklist 12. Which of the following is typically included in risk profiles? Get answer to your question and much more 13. All of the following are included in the risk identification process except Get answer to your question and much more Chapter 07 - Managing Risk14. One of the keys to success in risk identification is Get answer to your question and much more 15. The easiest and most commonly used technique for analyzing risks is _____ analysis.A. ProbabilityB. ScenarioC. PaybackD. Risk/rewardE. Impact 16. A risk profile is a list of questions that address traditional areas of uncertainty on a projectthat answers developed from: Get answer to your question and much more 17. The risk management tool that is divided into three color-coded zones representing major,moderate, and minor risks is the risk Get answer to your question and much more Chapter 07 - Managing Risk18. The risk assessment form contains all of the following except Get answer to your question and much more 19. The two scales of a risk severity matrix measureA. Time, costB. Cost, scheduleC. Impact, costD. Time, impactE. Likelihood, impact 20. Which of the following is not one of the probability analysis tools? Get answer to your question and much more 21. This risk assessment tool is a variation of the risk severity matrix that includes the ease ofdetection for each of the identified risks. Get answer to your question and much more Chapter 07 - Managing Risk Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 52 pages? Upload your study docs or become a Course Hero member to access this document 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 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 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 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 D) Focus on objectives and not on the events that could produce consequences. 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 D) Mismanaged risk control 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 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 The easiest and most commonly used technique for analyzing risks is _____ analysis. A) Probability B) Scenario C) Payback D) Risk/reward E ) Impact 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 D) From previous, similar projects 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 C) Who will detect the occurrence of the risk event. 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 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 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 D) Both A and B are correct 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 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 E) All of the above are correct What is a list of questions that address traditional areas of risk?A risk profile is a list of questions that address traditional areas of uncertainty on a project.
What is uncertainty in risk assessment?Uncertainty in risk assessment can be present in the characterization of the exposure scenario, the parameter estimates, and model predictions. For example, grouping individuals with unique measured exposure levels into categories of exposure ranges can introduce aggregation errors and subsequent uncertainty.
What is common risk checking?Common-risk checking: In several industries lists with known risks are available. Each risk in the list can be checked for application to a particular situation.
How do you evaluate the riskiness of the project?Steps to perform a project risk assessment. Step 1: Identify risks. Analyse potential risks and opportunities. ... . Step 2: Determine probability. ... . Step 3: Determine the impact. ... . Step 4: Treat the risk. ... . Step 5: Monitor and review the risk.. |
A list of questions that address traditional areas of uncertainty on a project is termed a
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