Module 3- Risk Management Planning Flashcards
- Which of the following is not an input to the plan risk management process?
A. Stakeholder register
B. Activity cost estimates
C. Project charter
D. Enterprise environmental factors
1. B PMBOK Guide - The inputs to the plan risk management process include: - Project management plan - Project charter - Stakeholder register - Enterprise environmental factors - Organizational process assets
- Which of the following is an input to the plan risk management process?
A. Quality management plan
B. Project documents
C. Communications management plan
D. Project management plan
2. D PMBOK Guide - The inputs to the plan risk management process include: - Project management plan - Project charter - Stakeholder register - Enterprise environmental factors - Organizational process assets
- Which of the following is a tool or technique used in the plan risk management process?
A. Analytical techniques
B. Information gathering techniques
C. Assumption analysis
D. Documentation review
3. A PMBOK Guide - The tools and techniques used in the plan risk management process are: - Analytical techniques - Expert judgment - Meetings
- Which of the following is an output to the plan risk management process?
A. Risk register
B. Risk management plan
C. Change requests
D. Project document updates
- B
PMBOK Guide - The only output from the plan risk management process is the risk management plan.
- Which of the following risk events is most likely to interfere with attaining a project’s schedule target?
A. Dramatic increases in material costs
B. Delays in obtaining required sponsor approvals
C. Contract disputes over increased costs
D. Date slippages on planned post-implementation review meetings
- B
Only delays in obtaining sponsor approvals are guaranteed to cause delays. The other alternatives might cause a delay (except the post-implementation review meeting).
- You take over a project from a previous project manager. As part of the turnover process, they hand you a risk watchlist. What should be done with the risks on the watchlist?
A. Add the information to your takeover report
B. Add them to the lessons learned for future projects
C. Read over the watchlist as they are already covered in the properly completed contingency plans
D. Read over the watch list, then revisit during monitoring & controlling
- D
A good project manager is constantly monitoring the identified risks on a project.
- Which of the following is not always an input to the risk management process?
A. Work breakdown structure
B. Lessons learned
C. Project status reports
D. Historical information
- C
Although project status reports can be a vital input to the risk management process, they are usually not available during the risk planning process and are therefore not always an input to the risk management process.
- It is very important that the project manager determine risk tolerances in order to help:
A. The sponsor understand how the resource managers will act
B. Schedule the project
C. Rank the project risks
D. Estimate the project duration
- C
Risk tolerances, or how much risk various stakeholders are willing to accept. This is a critical piece of information used to rank the project risks.
- Which of the following is not a common result of risk management?
A. The communications management plan is changed
B. The project charter is changed
C. The schedule management plan is changed
D. The project management plan is changed
- B
Of the choices, the project charter is the least likely to be changed because of the risk management process. Remember, the charter authorizes the project.
- Which of the following must be an agenda item at all team meetings?
A. Review of project issues
B. Identification of new assignments
C. Status of all activities
D. Discussion of project risks
- D
According to PMI, risks are a critical area that impacts all other areas of project management. It is so important it should be discussed at every meeting.
- Which of the following is NOT part of the Risk Management Plan?
A. The Work Breakdown Structure
B. Risk methodology
C. Team roles and responsibilities
D. Budgeting for risk management
11. A A well-formed Risk Management Plan includes: - Methodology - Roles and Responsibilities - Budgeting - Timing - Risk Categories (RBS) . . . - Revised stakeholder tolerances - Reporting formats - Tracking - Definitions of probability and impact - Matrices
- Why might a project manager want to make use of an RBS?
A. To understand the detailed requirements of the project
B. To determine the major risks of the project
C. To define who is responsible for each risk
D. To group project risks in order to provide categorization
- D
An RBS, or Risk Breakdown Structure, is a visual tool used to group or categorize project risks.
- Which of the following is not a core purpose of matrices when used in planning project risks?
A. Impact
B. Probability
C. Cost
D. All of the above
- C
In project risk management, matrices are used to evaluate the impact of project risks and the likelihood of the risk occurring.
- You are a project manager completing your risk matrix. Which of the following scales are you most likely to use to measure the probability of each risk occurring?
A. Linear
B. Non-linear
C. Relative
D. Likeart
- B
When using a risk matrix, a non-linear scale is most likely used to measure the probability of risk occurrence.
