Risk Management

In general, because of the similarities in IT projects, one can manage all projects and risk in the same manner.

• True

• False

Effective project risk management requires that each risk have an owner.

• True

• False

The best time to plan for risk is during the project execution phase when risk can be assessed most accurately.

• True

• False

Project risk management focuses solely on the downside of risk that results from unexpected problems or threats.

• True

• False

It never pays to ignore an element of project risk.

• True

• False

Successful risk management requires:

• Misunderstanding the benefits of risk management

• Inadequate time for risk identification

• Use of non-standard approach to access risk

• Stakeholder responsibility

_____ involves deciding which risks can impact the project.

• Plan Risk Management

• Identify Risks

• Perform Quantitative Risk Analysis

• Plan Risk Responses

_____requires determining the true problem, or cause, of the risk.

• Risk identification

• Risk planning

• Risk assessment

• Risk monitoring and control

Gaining consensus from a group of experts would be most closely associated with:

• Learning Cycles

• Brainstorming

• Nominal Group Technique

• Delphi Technique

Reserves and contingency plans would be used in which risk strategy?

• Avoidance

• Accept or ignore

• Mitigation

• Transfer