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.