Chapter 11 Quiz1.is an uncertainty that can have a negative or positive effect on meetingproject objectives.a.Risk utilityb.Risk tolerancec.Risk managementd.Risk2.A person who is risk- receives greater satisfaction when more payoff is at Show
stake and is willing to pay a penalty to take risks.3.Which risk management process involves prioritizing risks based on their Get answer to your question and much more probability andimpact of occurrence?4.Your project involves using a new release of a common software application, Get answer to your question and much more but if thatrelease is not available, your team has plans to use the current release. Get answer to your question and much more Test Prep This preview shows page 3 - 5 out of 5 pages. Question 2_____ involves doing whatever you can to make sure the positive risk happens.a. Risk acceptanceb. Risk enhancementSelected:c. Risk exploitationThis answer is correct.d. Risk sharingYou are correct! Risk exploitation involves doing whatever you can to make sure the positive riskhappens. Question 4________ is an uncertainty that can have a negative or positive effect on meeting project objectives. Get answer to your question and much more 0/1Question 5True or false? A risk management plan is a plan that documents the procedures for managing riskthroughout a project.No answer provided Get answer to your question and much more Refer to “Planning Risk Management” in the textbook for more information.Question 7_________ are indicators or symptoms of actual risk events, such as a cost overrun on early activitiesbeing a symptom of poor cost estimates. Get answer to your question and much more 1/1Question 8True or false? Performing qualitative risk analysis involves prioritizing risks based on their probabilityand impact of occurrence.Selected:TrueThis answer is correct. FalseYou are correct! Performing qualitative risk analysis involves prioritizing risks based on theirprobability and impact of occurrence. After identifying risks, project teams can use various tools andtechniques to rank risks and update information in the risk register. The main outputs are projectdocuments updates.1/1Question 9_______ is a risk analysis technique that uses a complex mathematical approach to analyze theprobability and impact of risks numerically. Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 5 pages? Upload your study docs or become a Course Hero member to access this document
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10 Cards in this Set
Is an uncertainty that can have a negative or positive effect?Hence, risk is an uncertainty that can have a negative or positive effect on meeting project objectives.
Which process involves prioritizing risks based on their probability of occurrence and impact?Performing qualitative risk analysis involves: prioritizing risks based on their probability and impact of occurrence.
Which technique is used to show the effects of changing one or more variables on an outcome?A regression is a statistical technique that relates a dependent variable to one or more independent (explanatory) variables. A regression model is able to show whether changes observed in the dependent variable are associated with changes in one or more of the explanatory variables.
Which process involves determining what risks are likely to affect a project?Risk identification involves determining which risks might affect the project and documenting their characteristics. Risk identification is an ongoing process and should be performed throughout the project.
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Is an uncertainty that can have a negative or positive effect on meeting project objectives
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