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Self Quiz
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1

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
2

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
3

One common mistake made in identifying project risks is that
A)not all possibilities are considered
B)participants are over-optimistic
C)participants are over-pessimistic
D)efforts are focused on consequences rather than causal events
E)too much attention is given to past events
4

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
5

The easiest and most commonly used technique for analyzing risks is _____ analysis.
A)probability
B)scenario
C)payback
D)risk/reward
E)impact
6

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
7

The two scales of a risk severity matrix measure
A)time, cost
B)cost, schedule
C)impact, cost
D)time, impact
E)likelihood, impact
8

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
9

Which of the following is not one of the potential responses to a specific risk event?
A)mitigating
B)retaining
C)ignoring
D)transferring
E)sharing
10

Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.
A)management
B)budget
C)contingency
D)padded
E)just in case
11

Which of the following is identified for specific work packages or segments of a project found in the baseline budget or work breakdown structure?
A)time buffers
B)budget reserves
C)management reserves
D)both A and B are correct
E)A, B, and C are all correct
12

Change control systems are designed to accomplish all of the following except:
A)track all changes that are to be implemented
B)review, evaluate, 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





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