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Review Questions

1.Which of the following is a false statement about project risks?
  1. A risk arises out of uncertainty.

  2. A risk can only have a negative effect on a project.

  3. Identified risks are usually listed in a document called the risk register.

  4. Risks can be categorized by developing a risk breakdown structure (RBS).

2.The risk register is not an input to which of the following processes?
  1. Identify Risks

  2. Perform Qualitative Risk Analysis

  3. Perform Quantitative Risk Analysis

  4. Plan Risk Responses

3.Which of the following is not an information-gathering technique used in the risk identification process?
  1. Brainstorming

  2. Delphi technique

  3. SWOT analysis

  4. Web browsing

4.Which of the following statements about risk analysis is false?
  1. Quantitative risk analysis can only be performed on risks on which a qualitative risk analysis has already been performed.

  2. Qualitative risk analysis is usually performed before quantitative risk analysis.

  3. An updated risk register is the output of both qualitative risk analysis and quantitative risk analysis.

  4. The risk register is an input to both qualitative risk analysis and quantitative risk analysis.

5.You are managing a project to set up data servers to support a website for an enterprise customer. The location for the servers has been chosen close to the customer due to their requirements. However, this location is prone to natural disasters, such as hurricanes and flooding. You have decided to install some extra servers in another city that will act as backup if a disaster happens. This is an example of which of the following?
  1. Risk avoidance

  2. Risk mitigation

  3. Risk acceptance

  4. Risk transfer

6.The risk management team of a software project has decided that due to the lack of adequate talent in your company, development of a specific part of the system is under high risk, so they have decided to outsource it. This is an example of which of the following?
  1. Risk avoidance

  2. Risk mitigation

  3. Risk acceptance

  4. Risk transfer

7.You are in the process of evaluating the probability and impact of a risk by assigning numbers, such as expected monetary value. This is an example of which of the following?
  1. Monte Carlo simulation

  2. Qualitative risk analysis

  3. Quantitative risk analysis

  4. Risk response planning

8.Consider the following figure. Assume that the risk has a 50% probability of occurrence. If the risk does occur, it could have a positive or a negative impact equivalent to $200,000 or $50,000, respectively, with the probabilities shown in the figure. What is the EMV for the positive impact?

  1. $80,000

  2. $200,000

  3. $50,000

  4. $40,000

9.Consider the following figure. Assume that the risk has a 50% probability of occurrence. If the risk does occur, it could have a positive or a negative impact equivalent to $200,000 or $50,000, respectively, with the probabilities shown in the figure. What is the EMV for the risk?

  1. $25,000

  2. $55,000

  3. $110,000

  4. $50,000

10.Which of the following is a correct statement about secondary risks?
  1. These are the residual risks.

  2. These are the risks that have medium or low priority.

  3. These are the risks that will be avoided.

  4. These are the risks that can result from responses to the identified risks.

11.Which of the following is not a valid risk response?
  1. Risk acceptance

  2. Risk sharing

  3. Risk mitigation

  4. Risk rejection

12.Which of the following is a valid statement about SWOT?
  1. It is an analysis technique to identify risks.

  2. It refers to the analysis of scope, work, options, and timing.

  3. It is a technique used to plan a risk response.

  4. It is a technique used to perform quantitative risk analysis.

13.Which of the following is not an output of the qualitative risk analysis?
  1. A prioritized list of risks for a given project objective based on the probability and impact matrix of the objective

  2. A watch list of low-priority risks

  3. A list of risks prioritized based on the total effect of each risk on the overall project objectives

  4. A list of trends in the analysis results

14.Which of the following is not an output of quantitative risk analysis?
  1. Probability of meeting the project objectives, such as cost and schedule

  2. A list of risks prioritized based on the total effect of each risk on the overall project objectives

  3. A list of trends in the analysis results

  4. Decision about a risk-related contractual agreement

15.What is the name of a quality planning technique that involves comparing the results of similar activities?
  1. Brainstorming

  2. Benchmarking

  3. Cost/benefit analysis

  4. Quality metrics

16.The plan-do-check-act cycle of quality management was:
  1. Defined by Shewhart and modified by Deming.

  2. Originally defined by Deming and then modified by Shewhart.

  3. Defined by Crosby and modified by Deming.

  4. Defined by Crosby and modified by Juan.

17.One of the fundamental tenets of modern quality management is:
  1. Inspect the quality and then build it in.

  2. There is no need to design and build in the quality until you do the inspection, if it’s needed.

  3. Break all rules: Deliver the product in a timely fashion and then work on the quality.

  4. Plan, design, and build in quality as opposed to inspecting it in.


  

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