Strayer BUS519 Project Risk Management Quizzes

BUS519 Project Risk Management

Quiz 1

Question 1 Which of the following is an enterprise environmental factor that can affect the availability of resources and influence how projects are conducted?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Organizational communication

B Organizational process assets

C Organizational culture

D Organizational structure

Question 2 You are a project manager for Tech Perfect Inc. While studying the project, you find that there are too many stakeholders in the project. You are concerned about some influencing stakeholders. Which of the following process groups can be highly affected by stakeholder influence?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Initiating

B Closing

C Monitoring and controlling

D Planning

Question 3 Which of the following processes includes documenting requirements, budget, and work flow for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Planning

B Initiating

C Closing

D Executing

Ben is the project manager of the YHT project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project risk is always in the future.

B Project risk can happen at any moment.

C Project risk is uncertain, so no one can predict when the event will happen.

D Project risk happens throughout the project execution.

For successful and timely completion, a project includes five phases. Which of the following phases defines internal and external stakeholders who will interact and influence the overall project outcome?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Executing

B Initiating

C Closing

D Monitoring and controlling

Which of the following process groups contains the lowest number of processes?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Executing and closing

B Executing and planning

C Initiating and closing

D Initiating and planning

Which of the following is a set of projects, programs, and related work that is managed in a coordinated fashion to achieve strategic business objectives in an organization?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Process

B Portfolio

C Project

D Program

Which of the following is an example of an intangible element in business value?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Stockholder equity

B Fixture

C Monetary asset

D Brand recognition

Which of the following phases includes processes to keep close track of project performance, changes, and risks?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Initiating

B Planning

C Executing

D Monitoring and controlling

Which of the following phases monitors the progress of the project to identify the variance from the plan and to correct it?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Monitoring and controlling

B Initiating

C Planning

D Executing

Explanation

Question In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Closing

B Executing

C Planning

D Initiating

Explanation

Which of the following is a hierarchical organization where each employee has one clear superior and is managed by a person with expertise in that area?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Projectized

B Functional

C Composite

D Matrix

Explanation

Fran is the project manager in her organization. She reports to a project management office that takes control of the projects. Fran, through the PMO, will directly manage the project. Fran is a part of what type of PMO?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Controlling

B Directive

C  Functional

D Supportive

Explanation

 

BUS519 Project Risk Management

Week 2 Quiz  

Which of the following processes are included in the project risk management?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform negative risk analysis

B Plan risk management

C Plan risk responses

D Control risks

Which of the following is the process of defining the way to conduct the risk management activities?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Plan risk responses

B Plan risk management

C Perform qualitative risk analysis

D Perform quantitative risk analysis

Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he is following the best practices for risk management?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project risk management is scheduled for every month in the 18-month project.

B Project risk management has been concluded with the project planning.

C Project risk management is an agenda item at every status meeting.

D Project risk management happens at every milestone.

All of the following are included in the risk registers except for which one?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Network diagram analysis of critical path activities

B List of potential risk responses

C Trends in qualitative risk analysis results

D Symptoms and warning signs of risks

Which of the following is an input/output document that outlines exactly how risk management will be performed on a given project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk management plan

B Project charter

C Technical documentation

D Project scope statement

Which of the following risk management methods is the conversion of risk data into risk decision-making information?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Track

B Plan

C Analyze

D Identify

Which of the following processes included in risk management decides how risk management activities for the project at hand will be performed?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform qualitative risk analysis

B Plan risk responses

C Plan risk management

D Identify risks

 

BUS519 Project Risk Management

Week 3 Quiz  

You, as a project manager, are in the process of gathering, creating, storing, distributing, and disposing of project communications. Which process are you working on?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform monitoring

B Plan communications management

C Manage communications

D Control communications

Which of the following inputs of the manage stakeholder engagement process directly addresses the risks that could affect the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Change log

B Communications management plan

C Organizational process assets

D Stakeholder management plan

Question 3 :Which of the following outputs of the control communications process comes about as a result of actions taken to correct issues; to modify scope, schedule, or budget; or other items?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project management plan update

B Change request

C Work performance information

D Project documents update

Which input of the plan stakeholder management includes company culture, organizational structure, and governmental or industry standards?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project management plan

B Organizational process asset

C Enterprise environmental factor

D Stakeholder register

Question 5 :Which of the following theories attempts to formalize the subjective views of the decision makers (or stakeholders) for risk management purposes?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Achievement theory

B Expectancy theory

C Utility theory

D Organizational theory

John is the project manager of the NHQ project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to ensure that he converses about risks in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for him to connect to the external stakeholders?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk Response Plan

B Communications Management Plan

C Project Management Plan

D Risk Management Plan

Della works as a project manager for Tech Perfect Inc. She is studying the documentation of planning of a project. The documentation states that there are twenty-eight stakeholders with the project. What will be the number of communication channels for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A 300

B 250

C 378

D 28

Which of the following are the leadership styles?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Autocratic

B Legitimate

C Situational

D Laissez-faire

Which of the following conflict management techniques is achieved when each of the parties involved in the conflict gives up something to reach a solution?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Forcing

B Accommodation

C Avoidance

D Compromising

Which type of power is given to someone by their subordinates based on their respect and regard?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Referent power

B Legitimate power

C Reward power

D Expert power

John works as a project manager for uCertify Inc. He’s working on a project and finds that there are multiple risks that will affect several stakeholder requirements. Which of the following will he use to share all information on the project risks to stakeholders?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk management plan

B Stakeholder management plan

C Procurement management plan

D Communications management plan

The documentation of a project planning states that there are 25 stakeholders with the project. What will be the number of communication channels for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A 50

B 25

C 600

D 300

.

 

 

BUS519 Project Risk Management

Week 4 Quiz  

Which of the following documents is most useful to communicate and solicit inputs of the project stakeholders during risk identification? This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project charter

B Requirements management plan

C Stakeholder register

D Risk register

Question 2 :A technique that measures what an organization can and cannot do, and its potential opportunities and threats is known as which of the following?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Checklist analysis

B Root cause analysis

C SWOT analysis

D Assumptions analysis

Tom works as a project manager for BlueWell, Inc. He’s determining which risks can affect his project. Which of the following inputs of the “identify risks” process is useful in doing so and provides a quantitative assessment of likely cost to complete scheduled activities?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Cost management plan

B Risk management plan

C Activity cost estimates

D Activity duration estimates

Question 4 :You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Several times until the project moves into execution

B At least once a month

C Identify risk is an iterative process.

D It depends on how many risks are initially identified.

 

Which of the following techniques is used to verify the fundamental basis that causes a defect, a variance, or a risk?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk transference

B Risk mitigation

C Risk avoidance

D Root cause analysis

Which of the following techniques depicts how the elements of a system are related to each other and shows the logical flow of a process?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Analysis diagram

B Influence diagram

C System or process flow chart diagram

D Cause-and-effect diagram

John works as a project manager for uCertify Inc. He’s working on a project and finds that the project is not running according to project plans. He needs to examine the existing project plans for determining whether they were consistent with the project requirements. Which of the following techniques will John use to accomplish the task?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Checklist analysis

B Process flow chart

C Documentation reviews

D Brainstorming

Question 8 :You are working with your project stakeholders to identify risks within JKP Project. You want to use an approach to engage stakeholders to increase the breadth of identified risks by including internally generated risks. Which identify risks approach is best suited for this goal?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A SWOT analysis

B Delphi technique

C Assumptions analysis

D Brainstorming

 

The identify risks process determines the risks that affect the project and document their characteristics. Why should the project team members be involved in the identify risks process?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A They are the individuals that will most likely cause and respond to the risk events.

B They are the individuals that will have the best responses for identified risk events within the project.

C They are the individuals that are most affected by the risk events.

D They are the individuals that will need a sense of ownership and responsibility for the risk events.

You are the project manager of the GYH project in your organization. Management has asked you to begin identifying risks and to use an information gathering technique. Which one of the following risk identification approaches is an information gathering technique?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Root cause analysis

B SWOT analysis

C Documentation reviews

D Assumptions analysis

Which of the following are objectives of risk identification?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

AIt establishes and maintains the strategy to be used for risk management.

BIt should explicitly address uncertainty and assumptions.

CIt identifies and categorizes risks that could affect the project and documents these risks.

DIt defines the parameters used for analyzing and categorizing risks, and the parameters used for controlling the risk management effort.

 

BUS519 Project Risk Management

Week 5 Quiz  

Which of the following distributions represents possible scenarios in a decision tree, outcomes of a test, results of a prototype, and other uncertain events?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Normal

B Triangular

C Discrete

D Lognormal

As a project manager, you are looking for all possible options of project risks, which may impact the project schedule. In order to get this detailed information in an accurate form, which type of data analysis technique can be used?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A EMV analysis

B SWOT analysis

C Assumptions analysis

D Monte Carlo analysis

Which of the following qualitative risk analysis techniques is normally used in the planning phase to identify weaknesses and hazards in a processing facility?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A FMECA

B HAZOP

C SWIFT

D FMEA

Which of the following is the process of identifying the most probable threats to an organization and analyzing the related vulnerabilities of the organization to these threats?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk assessment

B Business impact analysis

C Risk communication

D Risk analysis

Question 5 :As a project manager, you have developed a risk management plan for predicting and mitigating risks. Also, you have identified all the risks that might impact the project. What is the project manager likely to do next?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform quantitative risk analysis

B Plan risk responses

C Control risks

D Perform qualitative risk analysis

Your project team has completed the perform quantitative risk analysis process for your project work. Based on their findings, they need to update the risk register with several pieces of information. Which one of the following components is likely to be updated in the risk register based on their analysis?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Listing of risk mitigation

B Risk ranking matrix

C Prioritized list of quantified risks

D Qualitative analysis outcomes

Mark works as a project manager for TechSoft Inc. Mark, the project team, and the key project stakeholders have completed a round of qualitative risk analysis. He needs to update the risk register with his findings so that he can communicate the risk results to the project stakeholders including management. Mark will need to update all of the following information except for which one?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Watchlist of low-priority risks

B Risks scores

C Prioritized list of quantified risks

D Trends in qualitative risk analysis

John has just finished updating the risk register with the list of risks that needs additional analysis and response. Under which of the following project risk management processes does this come?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform quantitative risk analysis

B Identify risks

C Plan risk management

D Perform qualitative risk analysis

 

BUS519 Project Risk Management

Week 6 Quiz  

The risk transference is referred to the transfer of risks to a third party, usually for a fee, it creates a contractual relationship for the third party to manage the risk on behalf of the performing organization. Which one of the following is NOT an example of the transference risk response?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Warranties

B Life cycle costing

C Use of insurance

D Performance bonds

Question 2 :You are the project manager of the BJA project for your company. Management is worried about one of the identified risks in your project. The risk event has a probability of 90 percent and a cost impact of $85,000. Management and you discuss possible solutions to address the risk. You share with them that for $75,000 you can reduce the probability of the risk event to 15 percent and the impact to $25,000. This solution will add three weeks to the project schedule. Management thinks this is a good idea and they would like you to add the time and cost additions to your project plan. What type of risk response is used?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Acceptance

B Mitigation

C Avoidance

D Exploit

Jenny is the project manager of the NHJ project for her company. She has identified several positive risk events within the project and she thinks these events can save the project time and money. You, a new team member, wants to know how many risk responses are available for a positive risk event. What will Jenny reply to you?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Acceptance is the only risk response for positive risk events.

B Three

C Four

D Seven

Question 4 :Residual risk is the risk or danger of an action or an event, a method or a (technical) process that still conceives these dangers even if all theoretically possible safety measures would be applied. How residual risk can be determined?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A By determining remaining vulnerabilities after countermeasures are in place

BBy threat analysis

C By transferring all risks

D By risk assessment

You are the project manager for a construction project. The project involves casting of a column in a very narrow space. Because of lack of space, casting it is highly dangerous. High technical skill will be required for casting that column. You decide to hire a local expert team for casting that column. Which of the following types of risk response are you following?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Transference

B Acceptance

C Avoidance

D Mitigation

Holly is the project manager of the GHH project. During risk identification and the subsequent risk analysis process, she has identified a risk with a high probability and high impact for her project. She and the stakeholder agree that the project management plan should be changed to eliminate the risk threat entirely. What risk response has Holly used in this instance?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A This is the risk mitigation response.

B This is a scope change and not a risk response.

C This is the avoidance risk response.

D This is the transference risk response.

Question 7 :In the plan risk responses process, which of the following project documents are updated?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Lessons learned register

B Change requests

C Assumptions log

D Risk register.

Diane is the project manager of the HGF project. A risk that has been identified and analyzed in the project planning processes is now coming to fruition. Which individual should respond to the risk with the preplanned risk response?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Diane

B Subject matter expert

C Risk owner

D Project sponsor<