Mentoring & Coaching Pert 8 Risk - Pre Test

A team member stops the project manager during the meeting to ask about positive risks. Which of the following statements about positive risks is false?

• Positive risk can lead to shortened schedule
• Positive risk can lead a longer schedule
• Positive risk can lead a smaller budget
• Positive risk can lead to more customer satisfaction

What kind of risk is about uncertainties that exist regarding what might happen in the future and cannot be predicted currently, such as regulatory frameworks or the future development of technology?

• Ambuguity Risk
• Variability Risk
• Project resilience
• Positive risks

The project manager knows that managing risks is an important part of a project. One of the most important aspects is documenting the stakeholders’ risk appetite. Where would the project manager document the stakeholders’ risk appetite?

• In the stakeholder management plan
• In the risk management plan
• In the scope management plan
• In the cost management plan

Senior management within the organization has requested a brief overview of how the project conducts risk management. They would like to see the different categories of risk that can affect the project. What should the project manager show them?

• The Risk Breakdown Structure
• The Work Breakdown Structure
• Risk Register
• The Resource Breakdown Structure

The project team has started to identify risks on the project. What method can they best use to identify both positive and negative risks while analyzing how the strength may offset threats and vice versa?

• Root cause analysis
• Assumption and constraint analysis
• SWOT analysis
• Document Analysis

The project team members have finished identifying risks up to this point in the project. They have created the risk register, which lists all of the individual project risks. What should the team create next?

• The Risk Management Plan
• The Risk Response Plan
• The Risk Report
• The Risk Implementation

The project manager has met with the legal department within the organization to be informed of a new regulation that was recently passed that may impact the project. The project manager has added this risk to the risk register. What process should the project manager do next?

• Plan Risk Management
• Perform quantitative risk analysis
• Plan Risk Response
• Monitor Risk

The project team members are reviewing the risk in the risk register to determine which risks will have the greatest impact on a project. One risk in particular has a very high impact but the team has determined that this risk should be ranked very low on the project. What statement best describes why this risk is ranked so low?

• The probability of the risk occuring is low
• The project team not familiar with the risk
• The risk will take place in the far future of the project
• They're using wrong methods to assess the risk

The project team members are currently doing the process of perform qualitative risk analysis. They would like to use a tool that could not only display the probability of the risks or impact but the overall likelihood of the risks. What tool can be used to display the three parameters?

• Probability impact matrix
• Probability impact assessment
• Bubble chart
• Ishikawa diagram

While conducting a brainstorming session with the team in order to rank the risks, the project manager is worried about the data the team is using to rank the risks. The project manager feels that some team members may only be speculating about what the probability of a risks would be. What tool can best help the project manager in this scenario?

• Risk probability and impact assessment
• Risk data quality assessment
• Probability impact matrix
• Hierarchical charts