logo image

Chapter 7-MGMT 368

Which of the following is not one of the steps in the risk management process?
A. Risk response control
B. Risk tracking
C. Risk identification
D. Risk response development
E. Risk assessment
c. Indentify the risks
One common mistake made in identifying project risks is that
A. Too much attention is given to past events
B. Efforts are focused on consequences rather than causal events
C. Participants are over-pessimistic
D. Not all possibilities are considered
E. Participants are over-optimistic
B. Efforts are focused on consequences rather than causal events
In the beginning the focus of risk management should be on risks that
A. Have the greatest schedule impact
B. Have the greatest cost impact
C. Are known
D. Impact the whole project
E. Impact the critical path
D. Impact the whole project
The easiest and most commonly used technique for analyzing risks is _____ analysis.
A. Impact
B. Risk/reward
C. Payback
D. Probability
E. Scenario
E. Scenario
Which of the following is not one of the potential responses to a specific risk event?
A. Sharing
B. Transferring
C. Ignoring
D. Mitigating
E. Retaining
C. Ignoring
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
A) Profile
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
C) Competitors
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
A) Ratio/range analysis
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
D) Risk register
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
This risk assessment tool is a variation of the risk severity matrix that includes the ease of detection for each of the identified risks.
A) PERT simulation
B) FMEA analysis
C) ratio/range analysis
D) probability analysis
E) semi-quantitative analysis
B) FMEA analysis
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
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.
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
A) Slowly rise

Need essay sample on "Chapter 7-MGMT 368"? We will write a custom essay sample specifically for you for only $ 13.90/page

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy