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
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
- Shuffle
Toggle On
Toggle Off
- Alphabetize
Toggle On
Toggle Off
- Front First
Toggle On
Toggle Off
- Both Sides
Toggle On
Toggle Off
- Read
Toggle On
Toggle Off
Card Range To Study
through
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
- Share
- Export
- Clone
10 Cards in this Set
- Front
- Back
__________ is an uncertainty that can have a negative or positive effect on meeting project objectives. | d: Risk | |
A person who is risk-_____________ receives greater satisfaction when more payoff is at stake and is willing to pay a penalty to take risks. | b: seeking | |
Which risk management process involves prioritizing risks based on their probability and impact of occurrence? | c: performing qualitative risk analysis | |
Your project involves using a new release of a common software application, but if that release is not available, your team has _____________ plans to use the current release. | a: contingency | |
Which risk identification tool involves deriving a consensus among a panel of experts by using anonymous input regarding future events? | d: Delphi technique | |
A risk _____________ is a document that contains results of various risk management pro- cesses, and is often displayed in a table or spreadsheet format. | b: Register | |
_____________ are indicators or symptoms of actual risk events, such as a cost overrun on early activities being a symptom of poor cost estimates. | d: Triggers | |
Suppose there is a 30 percent chance that you will lose $10,000 and a 70 percent chance that you will earn $100,000 on a particular project. What is the project’s estimated monetary value? | c: $67,000 | |
_____________ is a quantitative risk analysis tool that uses a model of a system to analyze its expected behavior or performance. | a: Simulation | |
Your project team has decided not to use an upcoming release of software because it might cause your schedule to slip. Which negative risk response strategy are you using? | a: avoidance |