Risk Management

Risk Management

University

35 Qs

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Risk Management

Risk Management

Assessment

Quiz

Other

University

Easy

Created by

Aiya Zharilkassin

Used 5+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Risk Analysis" mean in project management?

The process of identifying, assessing, and analyzing potential risks that may affect the success of the project.

A method used to completely eliminate all risks in the project.

A financial strategy focused solely on the budget and cost reduction.

A stage in project management that occurs only after a problem arises.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Risk Breakdown Structure (RBS)" mean in project management?

A hierarchical representation of potential risks associated with a project, categorized systematically to help with risk identification, assessment, and management.

A financial document that tracks project expenses and budget risks.

A structure used to break down project tasks into smaller work packages.

An instrument for eliminating all potential risks in a project before it begins.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Risk Management Plan" mean in project management?

A document that describes how risks will be identified, assessed, controlled, and managed throughout the project lifecycle.

A plan that guarantees the complete elimination of all risks in the project.

A financial strategy that focuses solely on reducing project costs.

A static document that is created at the beginning of the project and is never updated.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Risk Response " mean in risk management?

A strategic action taken to address an identified risk, such as avoidance, mitigation, transfer, or acceptance.

A document that lists all risks but does not include any strategies for handling them.

A method used only after the project has already encountered a risk.

A financial reserve set aside to cover unexpected project costs.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Delphi Method" mean in risk management?

A structured decision-making method where experts anonymously express opinions on risks, leading to a consensus.

A brainstorming session where team members openly discuss risks in a group.

A technique used for financial forecasting in project budgeting.

A risk elimination strategy that ensures all uncertainties are resolved before the project begins.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does "Brainstorming" mean in risk management?

A technique for creative problem-solving, where team members generate and discuss ideas to identify potential risks and solutions.

A structured method where only project managers decide how to respond to risks.

A financial analysis tool used to assess project costs.

A formal documentation process where risks are listed without discussion.

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does the "Transfer" risk response strategy mean in risk management?

The responsibility for the risk is transferred to a third party, such as through insurance or outsourcing.

A method used to completely eliminate the risk from the project.

A financial technique for reallocating project funds to reduce the impact of the risk.

A process where risks are ignored until they materialize.

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