What does "Risk Analysis" mean in project management?

Risk Management

Quiz
•
Other
•
University
•
Easy
Aiya Zharilkassin
Used 5+ times
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
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.
Create a free account and access millions of resources
Similar Resources on Wayground
30 questions
PIGS

Quiz
•
University
32 questions
Mod 7 Unit 2

Quiz
•
University
30 questions
Chapter 4 : Managing Investment

Quiz
•
University
31 questions
Section A - Unit 1 Requirement Engineering

Quiz
•
University
40 questions
GE6075-Professional Ethics in Engineering-MCQ Test

Quiz
•
University
37 questions
Project Management Module 4

Quiz
•
University
30 questions
CEC 005 Prelim

Quiz
•
University
40 questions
week10 research management

Quiz
•
University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade