Reference no: EM133401736

Questions

1. In terms of project risk management methodology, prioritizing risks is critical because:

a. there is a limit to the number of risks all projects can have

b. all risks pose the same threat to project success

c. risk significance determines the allocation of time and energy we will spend in development of risk responses

d. projects usually have the same risks, regardless of complexity

2. Risk responses are:

a. proactive contingency plans that are established should the risks evolve into actual problems

b. historical ways to deal with risks in past projects only

c. always deployed in successful projects

d. a sign that a project is poorly managed

3. Select the appropriate treatment approach for the kind of risks that we are aware of and can manage:

a. the focus should be on effects and remediation

b. the focus should be on the individual who brought it to our attention

c. the focus should be on causes

d. the focus should be on the need for the requirement that encompasses that risk

4. In the terminology of project risk management, what's the best definition of a black swan event?

a. a high-profile, common event that may or may not slow the project down

b. an event similar to past events that keeps re-occurring

c. a high-impact, hard-to-predict, rare event

d. an event that must occur periodically in projects across industries

5. Unknown risks have no immediate treatment approach because we're not even aware that they exist.

True

False