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| 1 | |
An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed. |
| | A) | Random chance |
| | B) | A disaster |
| | C) | Risk |
| | D) | Hazard |
| | E) | Bad luck |
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| 2 | |
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 |
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| 3 | |
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 |
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| 4 | |
One common mistake made early in the risk identification process is |
| | A) | Not all possibilities are considered |
| | B) | Participants are over-optimistic |
| | C) | Participants are over-pessimistic |
| | D) | Focus on objectives and not on the events that could produce consequences. |
| | E) | Too much attention is given to past events |
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| 5 | |
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 |
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| 6 | |
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 |
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| 7 | |
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 |
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| 8 | |
The easiest and most commonly used technique for analyzing risks is _____ analysis. |
| | A) | Probability |
| | B) | Scenario |
| | C) | Payback |
| | D) | Risk/reward |
| | E) | Impact |
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| 9 | |
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 |
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| 10 | |
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 |
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| 11 | |
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 |
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| 12 | |
The demolition of the Seattle Kingdome (Snapshot from Practice) is an example of which of the following? |
| | A) | Mitigating |
| | B) | Retaining |
| | C) | Ignoring |
| | D) | Transferring |
| | E) | Sharing |
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| 13 | |
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 |
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| 14 | |
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 |
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| 15 | |
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 |
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