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10 Cards in this Set
- Front
- Back
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__________ is an uncertainty that can have a negative or positive effect on meeting project objectives.
a. Risk utility b. Risk tolerance c. Risk management d. Risk |
d: Risk
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A person who is risk-_____________ receives greater satisfaction when more payoff is at stake and is willing to pay a penalty to take risks.
a. averse b. seeking c. neutral d. aware |
b: seeking
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Which risk management process involves prioritizing risks based on their probability and impact of occurrence?
a. planning risk management b. identifying risks c. performing qualitative risk analysis d. performing quantitative risk analysis |
c: performing qualitative risk analysis
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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 b. fallback c. reserve d. mitigation |
a: contingency
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Which risk identification tool involves deriving a consensus among a panel of experts by using anonymous input regarding future events?
a. risk breakdown structure b. brainstorming c. interviewing d. Delphi technique |
d: Delphi technique
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A risk _____________ is a document that contains results of various risk management pro- cesses, and is often displayed in a table or spreadsheet format.
a. management plan b. register c. breakdown structure d. probability/impact matrix |
b: Register
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_____________ are indicators or symptoms of actual risk events, such as a cost overrun on early activities being a symptom of poor cost estimates.
a. Probabilities b. Impacts c. Watch list items d. Triggers |
d: Triggers
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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?
a. -$30,000 b. $70,000 c. $67,000 d. -$67,000 |
c: $67,000
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_____________ is a quantitative risk analysis tool that uses a model of a system to analyze its expected behavior or performance.
a. Simulation b. Sensitivity analysis c. Monte Carlo analysis d. EMV |
a: Simulation
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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 b. acceptance c. transference d. mitigation |
a: avoidance
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