Chp 11 Flashcards
Risks can have both negative and positive effects on meeting project objectives.
True
A risk-seeking person prefers outcomes that are more uncertain and is often willing to pay a penalty to take risks.
True
The last step in project risk management is deciding how to address this knowledge area for a particular project by performing risk management planning.
False;
First Step
Unknown risks can be managed proactively.
False;
Known Risks
Contingency plans are predefined actions that the project team will take if an identified risk event occurs.
True
Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
False;
The psychology literature shows that individuals, working alone, produce fewer ideas than the same individuals produce through brainstorming in small, face-to-face groups.
False;
The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.
True
Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.
False
A probability/impact matrix or chart lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other.
True
Top Ten Risk Item Tracking is a quantitative risk analysis tool.
false;
qualitive
The Microsoft Solution Framework (MSF) includes a risk management model that includes developing and monitoring a top-ten master list of risks.
True
Quantitative risk analysis need not be done for projects that are large and complex.
True
The lower the earned monetary value calculation for a project, the chances of project success is higher.
False;
The Monte Carlo analysis can predict the probability of finishing by a certain date or the probability that the cost will be equal to or less than a certain value.
True
