If a project has a 60 percent chance of a $100,000 profit and a 40 percent chance of a $100,000 loss, the expected monetary value (EMV) for the project is:

13/12_chap11

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39 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
$100,000 profit
$60,000 loss
$20,000 profit
$40,000 loss
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assuming the ends of a range of estimates are +/- 3 sigma from the mean, which of the following range estimates involves the least risk?
30 days, plus or minus 5 days
22 to 30 days
Optimistic = 26 days, most likely = 30 days, pessimistic = 33 days
Mean of 28 days
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your new project is tasked with designing a robotic device. A successful outcome for this high-profile project would create a technological breakthrough and a significant market opportunity, but there is a lot of uncertainty about the technology and requirements. The CFO has asked you to determine as quickly as possible whether the project is viable. What would be the best approach for doing this?
Ask the team to perform thorough proof-of-concept tests before starting development.
Do a risk-based spike to determine if the Kansas testing facility is tornado-proof.
Have the team begin planning and development, and see if they reach an impasse.
Do an exploratory spike to research potential quality control issues and ways to mitigate them.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a risk has a 20 percent chance of happening in a given month, and the project is expected to last five months, what is the probability that this risk event will occur during the fourth month of the project?
Less than 1 percent
20 percent
60 percent
80 percent
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a risk event has a 90 percent chance of occurring, and the consequences will be $10,000, what does $9,000 represent?
Risk value
Present value
Expected monetary value
Contingency budget
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most of the project risks will be identified during which risk management processes?
Perform Quantitative Risk Analysis and Identify Risks
Identify Risks and Monitor Risks
Perform Qualitative Risk Analysis and Monitor Risks
Identify Risks and Perform Qualitative Risk Analysis
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What kind of change-driven project would gain the most benefit from conducting a project pre-mortem exercise?
A high-value project with clear specifications for technology and requirements
An urgent, risky project with a hard deadline
A project that will require process tailoring
A long-term, high-visibility project
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