PROJ 595_Project Risk Management_Week 5 Quiz A+ Answer

PROJ 595_Project Risk Management_Week 5 Quiz A+ Answer

1. (TCO A) A stakeholder analysis in risk management (Points : 5)
identifies project stakeholders.
obtains stakeholder tolerance for a given project.
determines how best to manage a given stakeholder in a project.
determines how often to meet with a given stakeholder.

Question 2. 2. (TCO A) When using the ATOM process to manage risks, an initiation meeting should be used for (Points : 5)
all projects.
small and medium projects.
complex projects.
medium and large projects.

Question 3. 3. (TCO B) All of the below are risk identification methods, except (Points : 5)
Ishikawa diagrams.
process flow diagrams.
residual risk diagrams.

Question 4. 4. (TCO D) In risk response planning, which is the difference between active and passive acceptance? (Points : 5)
Using passive acceptance, risk responses are created.
Using active acceptance, secondary risks are created.
Using passive acceptance, contingency plans are created.
Using active acceptance, contingency plans are created.

Question 5. 5. (TCO E) A common tool for use in risk monitoring and control is (Points : 5)
scope compression.
activity on the node.
quality control.
earned value measurement
Question 6. 6. (TCO H) When using the ATOM process to manage risks, which is the importance of an initiation meeting? (Points : 5)
To determine how much of the risk management process to employ for a project
To determine the stakeholder tolerance for quality issues
To determine how many contractors to employ on a given project
To determine the proper risk responses for a given project

Question 7. 7. (TCO A) When is a risk register created? What is its importance of a risk register to a project? (Points : 10)

Question 8. 8. (TCO B) You are the project manager for a major technological project. You are concerned about doing qualitative risk analysis. How do you ensure consistency when doing qualitative risk analysis across all risk evaluators? (Points : 15)

Question 9. 9. (TCO D) Explain transference as a risk response strategy, and provide an example of its use in a project. (Points : 15)

Question 10. 10. (TCO E) What is the purpose of performing reserve analysis during the risk management process? (Points : 15)

Question 11. 11. (TCO H) You are in a status meeting with key project stakeholders. You are discussing residual and secondary risks in your project. The key stakeholders ask for an explanation and example of each. How would you describe each? Provide an example of a residual and a secondary risk. (Points : 15)

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PROJ 595 week Quiz