Quiz Planning-Risk

As the project manager, you kept all the project documentation on your laptop’s hard disk. You have planned for the worst risk, hard disk crash, so you did a weekly backup on a portable drive that you carried in your laptop bag. One day on your way back from the office, you stopped to buy a cup of coffee. When you returned to your car, you found the window was broken and the laptop bag missing. Both your laptop and portable backup device were lost. You failed to identify theft as a risk. All of the following could have been a response planned for such a risk except:

A project in a large organization seems to be growing it’s budget and resource needs every day. The project team has planned for every eventuality, exhaustively, and every risk has been identified and a response is planned. As a result, numerous team resources have been identified as risk owners, and risk management activities now take up 30% of the scheduled activities. Which of the following best describes the reason why this situation has occurred?

Your project involves the procurement of services. Additionally, a recently approved change request has introduced modifications to the project schedule that now place the procured services on the project’s critical path. Your team has informed you that there may be multiple risks that could reduce the likelihood of meeting the milestone established between your company and the vendor. To not negatively impact the total schedule length of the project what action should you take next?

What is the output of a decision tree analysis?

Which of the following describes the best possible way to prepare for project risks that cannot be identified prior to the project starting and that can only be recognized after they have occurred?

What is the best description of sensitivity analysis?

When the customer is part of the team, which of the following tools and techniques is most valuable while performing probability and impact analysis?

For a simple yearlong project, when does risk identification happen?

Which aspect of an organization’s environment can contribute to project risks?

You are the project manager of a technology project and are currently completing a risk identification exercise. Which of the following best defines what the Identify Risks process actually identifies?