Project Risk Management Quiz

What is the primary goal of project risk management?

• To eliminate all risks

• To increase project costs

• To avoid project planning

• To identify, analyze, and respond to risks

Which of the following is NOT a common source of risk on IT projects?

• Market risk

• Financial risk

• People risk

• Environmental risk

What is a risk register?

• A report on project team performance

• A schedule of project milestones

• A list of identified risks and related information

• A document for tracking project expenses

Which technique is used to derive a consensus among experts regarding future developments?

• Brainstorming

• Delphi Technique

• SWOT analysis

• Risk register

What does the probability/impact matrix help to calculate?

• The total project budget

• The overall project timeline

• Risk factors based on probability and impact

• The number of team members needed

What is the purpose of contingency plans?

• To define project scope

• To outline predefined actions for identified risks

• To increase project costs

• To manage stakeholder expectations

Which of the following is a basic response strategy for negative risks?

• Risk sharing

• Risk enhancement

• Risk acceptance

• Risk exploitation

What is the main output of the planning risk management process?

• Risk analysis

• Risk report

• Risk management plan

• Risk register

What does qualitative risk analysis primarily assess?

• The technical feasibility of the project

• The likelihood and impact of identified risks

• The financial impact of risks

• The project team's performance

What is a key characteristic of risk utility?

• It decreases with higher risk

• It is constant regardless of risk

• It rises at a decreasing rate for risk-averse individuals

• It is irrelevant to project management