Capitulo: 11. PROJECT RISK MANAGEMENT

Question 1

What is the process of risk management?

Answer 1

Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
Implement Risk Responses
Monitor Risks

Question 2

What is the process of risk management?

Answer 2

Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Risk Responses
Implement Risk Responses
Monitor Risks

Question 3

What is the key output of the Plan Risk
Management process?

Answer 3

Risk management plan

Question 4

What are the key outputs of the Identify
Risks process?

Answer 4

Risk register
Risk report

Question 5

What key outputs of the Perform
Qualitative Risk Analysis process are
added to the risk register?

Answer 5

Risk ranking for the project compared to
other projects
List of prioritized risks and their
probability and impact ratings
Results of other risk parameter
assessments
Risks grouped by categories
List of risks for additional analysis and
response
List of risks requiring additional analysis
in the near term
Watch list (noncritical risks)

Question 6

What key outputs of the Perform
Quantitative Risk Analysis process are
added to the risk register?

Answer 6

Prioritized list of quantified individual
project risks
The quantified probability of meeting
project objectives
Trends in quantitative risk analysis
Initial contingency time and cost
reserves needed
Assessment of overall project risk
exposure
Possible realistic and achievable
completion dates and project costs
Recommended risk responses

Question 7

What key outputs of the Plan Risk
Responses process are added to the risk
register?

Answer 7

Residual risks
Contingency plans
Fallback plans
Risk owners
Secondary risks
Risk triggers
Contracts
Reserves for time and cost

Question 8

What are the key outputs of the Monitor
Risks process?

Answer 8

Work performance information
Risk register updates
Change requests
Project management plan updates
Organizational process assets updates

Question 9

What key outputs of the Monitor Risks
process are added to the risk register?

Answer 9

Outcomes of risk reassessments and risk
audits
Results of implemented risk responses
Updates to previous parts of risk
management
Closing of risks that are no longer
applicable
Details of what happened when risks
occurred
Lessons learned

Question 10

What is a risk?

Answer 10

A future occurrence that may or may
not happen that can have a positive
(opportunity) or negative (threat)
impact on the project

Question 11

What are the four key factors that need
to be determined for each risk?

Answer 11

Probability
Impact
Timing
Frequency

Question 12

Define risk appetite and risk threshold.

Answer 12

Risk appetite: A general, high-level
description of the acceptable level of risk
to an individual or organization
Risk threshold: The specific point at
which risk becomes unacceptable

Question 13

A person who is risk averse is:

Answer 13

Someone who does not want to be
negatively impacted by threats

Question 14

What are the inputs to the risk
management process?

Answer 14

Project charter
Project management plan
Project documents
Enterprise environmental factors
Organizational process assets
Agreements
Procurement documentation
Work performance data and reports

Question 15

Name the risk categories.

Answer 15

External
Internal
Technical
Commercial
Unforeseeable

Question 16

What is a risk breakdown structure?

Answer 16

An organizational or hierarchical chart
that can help identify and document risk
categories

Question 17

Name the categories of non-event risks.

Answer 17

Ambiguity (lack of understanding) and
variability (inability to predict changes)

Question 18

What are some examples of risk
identification techniques?

Answer 18

Brainstorming
* Checklist analysis
* Interviewing
* Root cause analysis
* Assumption analysis
* Constraint analysis
* SWOT analysis
* Documentation reviews
* Prompt lists
* Facilitation

Question 19

What is assumptions analysis?
When is it done?

Answer 19

Assessing the assumptions made on the
project and determining whether they
are valid
During Identify Risks

Question 20

What is the purpose of a prompt list?
What is the purpose of a risk report?

Answer 20

A prompt list can help a project team
identify risks to individual elements of
the project as well as risks to the overall
project
The purpose of a risk report is to keep
stakeholders apprised of risk managment
efforts and outcomes

Question 21

What is a data representation technique
that can be used during the Perform
Qualitative Risk Analysis process?

Answer 21

A probability and impact matrix